Novan (NOVN) Stock Gains On COVID-19 Update

Novan NOVN Stock News

Novan Inc (NASDAQ: NOVN) is making a run for the top in the market this morning after the company announced an update with regard to its work to develop a COVID-19 treatment. The stock is up more than 20% as excited investors jump on the ticker. Here’s the scoop:

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NOVN Stock Climbs On Coronvairus Update

In the announcement, Novan provided data from a planned safety evaluation through Week 24 as part of its Phase 3 B-SIMPLE program. The program is assessing SB206 for the treatment of molluscum contagiosum.

While the data wasn’t directly from the clinical treatment of COVID-19 patients, it is very important in the development of a treatment for the condition. The company is in the process of developing the same Nitricil technology to produce a treatment for COVID-19, targeting the reduction of viral shedding and transmission.

Importantly, Nitric oxide has demonstrated the ability to inhibit viral replication of viruses within the coronaviridae family2, the family that the coronavirus at the center of the pandemic belongs to.

With that said, NOVN produce promising results. The B-Simple program not only showed that the treatment was effective in molluscum contagiosum, the treatment also proved to be safe and well tolerated.

With minimal adverse events to contend with, the company’s Nitricil technology could be the answer to treating the deadly COVID-19. In a statement, Elizabeth Messersmith, Ph.D, Senior Vice President and Chief Development Officer, had the following to offer:

We believe the safety and scarring profiles of SB206 are attractive to the patients and caregivers that are currently faced with painful in-office, dermatologist-administered physical removal or blistering procedures. We look forward to our meeting that is scheduled with the FDA and the presentation of the B-SIMPLE efficacy and safety data as we pursue a path forward for the SB206 molluscum program in the U.S.

Why Is This News So Exciting?

The answer is simple. The coronavirus is a very serious condition that has already killed tens of thousands of consumers around the world. At worst, we could see the death of millions around the world before the pandemic comes to an end.

Considering this Novan is on the verge of developing a potential treatment for this condition. Should the company be successful in showing that its nitric oxide-based treatment is effective in the treatment of COVID-19, the demand for this treatment would likely be off of the charts.

As such, NOVN is becoming an opportunity that’s hard to ignore.

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