Novan: Q1 Earnings Snapshot
By AP News
Published - May 15, 2023, 06:54 AM ET
Last Updated - Jun 21, 2023, 07:45 PM EDT
DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Novan Inc. (NOVN) on Monday reported a loss of $14.1 million in its first quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of 54 cents.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The drug development company posted revenue of $3.2 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $6.2 million.
