On July 28, 2020, Novan, Inc. (the “Company”) announced the appointment of Paula Brown Stafford, the Company’s President and Chief Executive Officer, as Chairman of the Company’s board of directors in advance of the Company’s annual meeting of stockholders. Concurrently, Robert Ingram is retiring as Executive Chairman and will continue as a member of the Company’s board of directors. W. Kent Geer will continue to act as Lead Independent Director on the Company’s board of directors, with significant responsibilities that are described in the Company’s Corporate Governance Guidelines. A copy of the press release announcing the appointment of Ms. Stafford is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Additionally, the Company announced that, since June 1, 2020, the Company has secured approximately $32 million in additional capital from the use of common stock purchase agreements with Aspire Capital Fund, LLC and the exercise of common stock warrants sold in the Company’s March 2020 public offering.

Item 9.01. Financial Statements and Exhibits.

EXHIBIT INDEX

The inclusion of Novan’s website address in this Form 8-K, and any exhibit thereto, is intended to be an inactive textual reference only and not an active hyperlink. The information contained in, or that can be accessed through, Novan’s website is not part of or incorporated into this Form 8-K.

Novan, Inc. Exhibit
EX-99.1 2 a07282020exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Novan President and CEO,…
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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.