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

Following the close of a recent financing, William L. Hodges, Interim Chief Financial Officer and the principal financial and accounting officer of Novan, Inc. (the “Company”), notified the Company of his decision to step down effective January 19, 2018. Mr. Hodges entered into a consulting services agreement with the Company on January 19, 2018, to which he will serve as a consultant to the Company on an as needed basis.

The Company has appointed its current Chief Business Officer, Jeff Hunter, to fill the role of Interim Chief Financial Officer and principal financial and accounting officer effective January 20, 2018. The Company expects to hire a permanent Chief Financial Officer in the first half of 2018.

There is no arrangement or understanding with any person to which Mr. Hunter was selected as Interim Chief Financial Officer, and there are no family relationships between Mr. Hunter and any director or executive officer of the Company. Additional information about Mr. Hunter can be found in the Company’s definitive proxy statement, filed with the Securities and Exchange Commission on April 17, 2017.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements including, but not limited to, statements related to expectations about the hiring of a permanent Chief Financial Officer. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company’s expectations, including, but not limited to, risks and uncertainties related to the timing of the Company’s hiring of a permanent Chief Financial Officer and other risks and uncertainties described in the Company’s annual report filed with the SEC on Form 10-K for the twelve months ended Dec. 31, 2016, and in any subsequent filings with the SEC. These forward-looking statements speak only as of the date of this Current Report on Form 8-K, and the Company disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.

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.