Novan, Inc. (NASDAQ:NOVN) Files An 8-K Changes in Registrant’s Certifying AccountantItem 9.01.
Changes in Registrant’s Certifying Accountant.
Novan, Inc. (NASDAQ:NOVN) Files An 8-K Changes in Registrant’s Certifying Accountant
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(A) |
On April 13, 2018, Novan, Inc. (the “Company”) notified PricewaterhouseCoopers LLP, or PwC, that it had dismissed PwC as the Company’s independent registered public accounting firm. The Audit Committee (the “Audit Committee”) of the Company’s Board of Directors (the “Board”) approved, and the Board concurred with, this on April 12, 2018. |
PwC’s report on the Company’s annual financial statements for the fiscal years ended December 31, 2017 and December 31, 2016 did not contain an adverse opinion or a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles; provided, however, that the report for the fiscal year ended December 31, 2017 included an explanatory paragraph that there was substantial doubt about the Company’s ability to continue as a going concern.
During the fiscal years ended December 31, 2017 and December 31, 2016, and in the subsequent interim period through April 13, 2018, there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and PwC on any matter of accounting principles or practices, financial statement disclosures or auditing scope or procedure, which disagreements, if not resolved to PwC’s satisfaction, would have caused it to make reference to the subject matter of the disagreement in connection with any report prepared by PwC. Further, there have been no reportable events (as described in Item 304(a)(1)(v) of Regulation S-K).
The Company furnished a copy of the above disclosures to PwC and requested that PwC provide a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made above. PwC responded with a letter dated April 18, 2018, stating its agreement with such statements, a copy of which is filed herewith as Exhibit 16.1.
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(B) |
After conducting a process to determine the audit firm that would serve as the independent registered public accounting firm for the Company for the year ending December 31, 2018, on April 12, 2018, the Audit Committee approved, and the Board concurred with, the engagement of BDO USA, LLP (“BDO”), as the Company’s independent registered public accounting firm, effective April 13, 2018, subject to completion of BDO’s standard client acceptance procedures. On April 18, 2018, BDO completed its procedures and accepted appointment as the Company’s independent registered public accounting firm. |
Neither the Company, nor anyone on its behalf, has consulted BDO regarding the application of accounting principles related to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on its financial statements or as to any disagreement or reportable event as described in Item 304(a)(1)(iv) and Item 304(a)(1)(v), respectively, of Regulation S-K.
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Item 9.01. |
Financial Statements and Exhibits. |
EXHIBIT INDEX
Novan, Inc. ExhibitEX-16.1 2 novn-ex161_7.htm EX-16.1 novn-ex161_7.htm Exhibit 16.1 April 18,…To view the full exhibit click here
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.
