Novan Provides Enrollment Update and Announces New Corporate Headquarters

– B-SIMPLE4 pivotal Phase 3 study in molluscum contagiosum reaches 90% enrollment with topline data targeted for Q2 2021 –

– Company secures new location to serve as corporate headquarters and to support various cGMP activities, including research and development and small-scale manufacturing capabilities –   

MORRISVILLE, N.C., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Novan, Inc. (“the Company” or “Novan”) (Nasdaq: NOVN), today provided an update that enrollment for its B-SIMPLE4 pivotal Phase 3 study evaluating SB206, a topical antiviral gel for the treatment of molluscum contagiosum (“molluscum”), has reached 90% of the approximately 850 subjects targeted for enrollment in the study.

In addition, the Company has entered into a lease agreement for approximately 15,000 square feet at a new location in Durham, North Carolina, to serve as the Company’s corporate headquarters, and the Company expects to move into the new facility during the second quarter of 2021. The Company is building out the newly leased location to support various cGMP activities, including research and development and small-scale manufacturing capabilities.

“This is an exciting time for the Company. With enrollment into our B-SIMPLE4 pivotal Phase 3 study, initiated in September of last year, we are encouraged by the progress that has been made in such a short period of time. We are grateful to all the investigators and staff who are driving enrollment for this important program forward, as well as the molluscum patients for their ongoing support. If approved, we believe that SB206 would help meet the need for patient care with an at-home treatment,” commented Paula Brown Stafford, President and Chief Executive Officer of Novan. “As we look forward to the readout of B-SIMPLE4, in addition to advancing our priority pipeline and NITRICIL platform technology, equipping the Company with a new location to support potential future activities was a key decision for us. We believe these steps position us to build momentum and enter the next phase of growth for the Company.”

Patient enrollment in the B-SIMPLE4 pivotal Phase 3 study commenced in September 2020 and is expected to enroll approximately 850 patients (1:1 randomization), across 55 clinical sites, who will be treated for 12 weeks with a follow-up visit at Week 24. To-date the study has enrolled approximately 90% of patients for the study.

Completion of patient enrollment is targeted for the first quarter of 2021. Topline efficacy results from the B-SIMPLE4 trial are targeted for the second quarter of 2021, subject to the targeted timing and trial execution plan which have been and may be further impacted by the COVID-19 pandemic. For more information about the B-SIMPLE4 trial, please visit clinicaltrials.gov and reference identifier: NCT04535531.