MORRISVILLE, N.C., March 26, 2020 (GLOBE NEWSWIRE) -- Novan, Inc. (NASDAQ:NOVN) today announced the closing of the Company’s previously announced registered direct offering priced at-the-market under Nasdaq rules with several institutional and accredited investors of 18,604,652 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) at an effective purchase price of $0.43 per share (or pre-funded warrant).

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

About Novan

Novan, Inc. is a clinical development-stage biotechnology company focused on leveraging nitric oxide’s naturally occurring anti-microbial and immunomodulatory mechanisms of action to treat a range of diseases with significant unmet needs. We believe that our ability to deploy nitric oxide in a solid form, on demand and in localized formulations allows us the potential to improve patient outcomes in a variety of dermatology, women’s health and gastrointestinal diseases.