$NOVN Is On Alert If Resistance Broken

Sep 26, 2019

NOVN has a multiple tops above $3, particularly $3.02 and the 52-week high of $3.24 a share.

NOVN has been a runner in the past and we could get momentum players in the stock on new highs.

Novan, Inc., a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum. The company’s clinical stage product candidates comprise SB208, a topical antifungal gel that is in Phase II proof-of-concept trial for the treatment of athlete’s foot and fungal nail infections; and SB414, a topical cream, which is in Phase Ib trial for the treatment of inflammatory skin diseases, such as psoriasis and atopic dermatitis. It has a license agreement with Sato Pharmaceutical Co., Ltd.; and a strategic alliance with Orion Corporation. Novan, Inc. was founded in 2006 and is headquartered in Morrisville, North Carolina.

As always, trade with caution and use protective stops.

Good luck to all!