Novan Reports First Quarter 2017 Financial Results
MORRISVILLE, N.C., May 12, 2017 (GLOBE NEWSWIRE) -- Novan, Inc. (“the Company” or “Novan”) (NASDAQ:NOVN) today announced the Company’s financial results for the first quarter of 2017.
Total operating expenses for the three months ended Mar. 31, 2017, were approximately $11.5 million, which includes research and development, or R&D, expenses totaling approximately $7.0 million and general and administrative, or G&A, expenses totaling approximately $4.5 million. Total operating expenses for the three months ended Mar. 31, 2016, were approximately $11.3 million, which included R&D expenses totaling approximately $7.9 million and G&A expenses totaling approximately $3.4 million. The year-over-year decrease in R&D expenses was due primarily to the completion of the SB206 Phase 2 and SB204 Phase 3 clinical trials.
Total operating expenses for the three months ended Mar. 31, 2017, were approximately $11.5 million, which includes research and development, or R&D, expenses totaling approximately $7.0 million and general and administrative, or G&A, expenses totaling approximately $4.5 million. Total operating expenses for the three months ended Mar. 31, 2016, were approximately $11.3 million, which included R&D expenses totaling approximately $7.9 million and G&A expenses totaling approximately $3.4 million. The year-over-year decrease in R&D expenses was due primarily to the completion of the SB206 Phase 2 and SB204 Phase 3 clinical trials.