Cash-strapped No­van takes a hard knock as mol­lus­cum drug fiz­zles in late-stage tri­als

Tiny No­van is not just low on funds, its in­vestors are al­so scrap­ing the bar­rel for some con­fi­dence.

The Mor­risville, North Car­oli­na-based drug de­vel­op­er’s stock $NOVN plunged in­to pen­ny stock ter­ri­to­ry af­ter the com­pa­ny re­vealed two late-stage stud­ies test­ing its drug, SB206, failed in pa­tients with mol­lus­cum con­ta­gio­sum, a con­ta­gious skin in­fec­tion that af­fects about 2 mil­lion in the Unit­ed States.

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