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Novan Inc. (NOVN) share price soared 24.13% with the closing price of $0.57 on Wednesday. Novan Inc. stock has an exchanging volume of 108.44 million shares, which is high, contrasted with its 3-months average volume of 21.17M shares. Its market capitalization has now reached to $79.45M.
Novan’s NITRICIL™ Technology Shows In Vitro Antiviral Effect Against SARS-CoV-2 in Human Airway Infection Model on October 14, 2020 at Yahoo.
Novan, Inc. (NASDAQ: NOVN) reported positive in vitro results showing the potential efficacy of its NITRICIL™ platform technology as an antiviral against SARS-CoV-2, the virus that causes COVID-19. To evaluate the ability of its NITRICIL™ platform technology as a potential nasal treatment option for COVID-19, the Company initiated in vitro assessments targeting the reduction of viral burden in differentiated normal human bronchial epithelial cells. The studies were conducted at the Institute for Antiviral Research at Utah State University and these results demonstrate the first instance of an antiviral effect from a nitric oxide-based medicine in a 3-D tissue model that has similar structure to the human airway epithelium.
The results from the in vitro assessment of concentrations as low as 0.75 mg/mL demonstrated that berdazimer sodium reduced 90% of virus after repeat dosing, once daily.
“COVID-19 continues to have a major ongoing impact on global health and there remains a direct need for a safe and effective antiviral therapy. The naturally occurring antiviral effects of nitric oxide and the results we have generated from this assessment, provide us with confidence that our NITRICIL™ platform technology may be an effective treatment for COVID-19. We also believe the data from this sophisticated model of the human respiratory tract demonstrate a high potential for clinical translation,” commented Paula Brown Stafford, Chairman and Chief Executive Officer of Novan.
Novan plans to initiate Chemistry, Manufacturing, and Controls (CMC) work with a global leader in providing integrated services, superior delivery technologies and manufacturing solutions to develop an intranasal formulation of berdazimer sodium for use in the Company’s COVID-19 program.
Dr. Carri Geer, Senior Vice President and Chief Technology Officer added, “With these encouraging in vitro results in hand, the next step is to advance our program into preclinical IND-enabling studies to further confirm the safety of our NITRICIL™ technology when administered intranasally. We are in the process of finalizing arrangements with a global leader in drug development to assist in our development activities as we work toward a potential IND filing targeted in 2021.”
Based on the scientific literature and data available to-date with berdazimer sodium and Novan’s product candidate SB206, Novan believes that nitric oxide may inhibit viral replication by disrupting protein function critical for viral replication and infection through generation of reactive intermediates.
NOVN Past Trading Activity
The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, NOVN price has rose by 24.70%. In the course of past three months sees the stock go down around -5.46%, while it has gain 47.97% over the past six months and -81.93% since the start of the year.
NOVN Earning History
Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter of (Sep 2020), the firm recorded a revenue of 1.32 billion, which was higher than the gauge of 1.24M made by certain experts. For that equivalent quarter, Novan Inc. posted -$0.1 earnings per share (EPS) which was underneath the consensus estimate of -$0.09 by -$0.01, which represents to a reduction by -11.10%.
NOVN Price Performance
Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Novan Inc. has seen its stock exchanging -57.39% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +90.33% above its three-month low. A more extensive look sees NOVN exchanging -84.65% beneath its 52-week high and 165.58% above from its 52-week low price.
NOVN Instability & Beta Factor
The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 11.17%, while it has a month to month instability of 8.32%. The company has an ATR (Average True Range) of 0.06 and a beta factor of -0.30.