ADVERTISEMENT

Novan: Q1 Earnings Snapshot

May 16, 2022 GMT

DURHAM, N.C. (AP) _ Novan Inc. (NOVN) on Monday reported a loss of $13.4 million in its first quarter.

The Durham, North Carolina-based company said it had a loss of 71 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The drug development company posted revenue of $1.9 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $1.3 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOVN at https://www.zacks.com/ap/NOVN