Novan, Inc. (NASDAQ:NOVN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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Novan, Inc. (NASDAQ:NOVN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)Election of Directors

On August 15, 2017, the Board of Directors (the “Board”) of Novan, Inc. (the “Company”) appointed Paula Brown Stafford to the Board, effective immediately. Ms. Stafford has not been appointed to serve on any Board committees. While Ms. Stafford remains an employee of the Company, she will not receive any additional compensation for her service as a director. Ms. Stafford has received compensation for her service as the Company’s Chief Development Officer, including cash compensation that has not exceeded $120,000 and a stock option award received on March 20, 2017 to purchase 54,000 shares of the Company’s common stock, with an exercise price of $6.53 and vesting six months from the award grant date. Ms. Stafford will continue to receive compensation for her continued service as the Company’s Chief Development Officer.


About Novan, Inc. (NASDAQ:NOVN)

Novan, Inc. is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs). The Company’s formulation science enables it to further tune the release of nitric oxide when applied to the skin by using the combinations of inactive ingredients. It is developing SB204 for the treatment of acne vulgaris in Phase III. The Company is developing its product candidate, SB206, for the treatment of external genital and perianal warts in Phase II. It is developing SB208, an investigational topical anti-fungal for the treatment of fungal infections of the skin and nails. It is developing SB204 for the treatment of inflammatory skin diseases. Its pipeline also includes SB414, a topical cream product candidate.