NOVN — Stock Film
STOCK FILMSCENE 1/12NOVN · $0.09
Stock Expert AI presents
NOVN
Novan, Inc
~5 min film100% real numbersplain English
WHAT DOES THIS COMPANY DO?
Novan, Inc. What it actually does.

Develops nitric oxide-based pharmaceutical products. Focuses on clinical-stage drug candidates for dermatology. Now — the numbers.

on the stock market since 2016
90 employees
$2.6M market value
WHERE DOES THE MONEY COME FROM?
53%Products
ProductsRhofade 38%Minolira 5%Manufactured Product, Other 2%Cloderm 2%
53% of all revenue comes from a single line: Products.

The biggest line carries real weight, but it doesn’t decide everything on its own.

Revenue last year:
$23.6M
The loss that same year:
$19.6M
For every $1 it earns, the company spends $1.8.

The company is still in the product-building phase: its spending runs far above its sales. That only changes once the product starts selling at scale.

THE SALES TREND
Sales are growing overall, with a pause along the way.

Average growth of 41% a year over the last 4 years. Red columns mark years that ended in a loss.

$6M
2018
2019
2020
2021
$23.6M
2022
In the vault right now:
$12.3M
DEBT: $3.9M
At this pace, that money lasts less than a year.

Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.

Every quarter, analysts set a profit bar.
How many of the last 7 did the company clear?
1 / 7
EXPECTATIONS MET OR BEATEN
1
Feb 2022
Aug 2023
1 TIME IN THE LAST 7 QUARTERS
It misses the bar more often than not.
What executives did with their own stock over the last 12 months:
30 buy8 sell

Executives buying with their own money is usually read as confidence in the company’s future.

THE FIVE-YEAR JOURNEY
A long and steep decline.

An investor who bought at the very peak is down 100% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.

1
THE BRIGHT SIDE · 1/3
Sales keep climbing

Over the last 4 years, sales grew about 41% a year on average.

2
THE BRIGHT SIDE · 2/3
The product is selling

Sales run at $23.6M a year. A small number, but proof the product has real buyers.

3
THE BRIGHT SIDE · 3/3
Executives are buying their own stock

Over the last 12 months, company executives reported 30 buys and 8 sells. Management buying with its own money is usually read as a good sign.

1
THE RISKS · 1/3
Small sales, big loss

A loss of $19.6M against $23.6M in annual sales.

2
THE RISKS · 2/3
Trading under $1

The stock sits at $0.09. Under exchange rules, stocks that stay below $1 for too long risk being removed from the market.

3
THE RISKS · 3/3
The cash has a countdown

At the current pace of spending, the cash lasts less than a year. After that, the company needs to find new money.

FINALE · THE GRADE
grade pending

We don’t have a report card for this stock yet — the data isn’t mature enough to grade. No grade is information too: it means the evidence is thin.

One-line summary: few numbers, an untested story. Keep watching.

What would you like to do next?
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This was a film — not investment advice.
Data: FMP & company filings
Sep 11, 2026 · stockexpertai.com · Stock Film