Novan To "Sharpen" Focus, Resources On Berdazimer Gel

(RTTNews) - Novan, Inc. (NOVN), Wednesday announced its decision to sharpen its focus and resources on berdazimer gel. The company also continues to explore strategic alternatives, with a focus on its commercial product portfolio and a sale or out-license of one or more of its commercial products.

Novan said it conducted a deliberate and thorough review of its commercial and development portfolio of assets to determine a path to optimally deploy capital and maximize shareholder value.

Following this review, the company, has initiated a process to explore a sale or out-license of its commercial assets, including Rhofade, Minolira, and Cloderm. The company will immediately reduce certain of its operating expenses currently supporting its commercial operations.

"We continue to face serious challenges achieving profitability with our commercial assets in the current economic environment, while also endeavoring to extend our cash runway through the PDUFA goal date of January 5, 2024, for berdazimer gel, 10.3%," said Paula Brown Stafford, President and CEO.