 Novan, Inc. the Company or Novan NOVN today announced the closing of the Companys previously announced registered direct offering priced at-the-market under Nasdaq rules with several institutional and accredited investors of 18,604,652 shares of its common stock or pre-funded warrants to purchase common stock in lieu thereof at an effective purchase price of 0.43 per share or pre-funded warrant. The gross proceeds to Novan from this offering are approximately 8.0 million, before deducting the placement agents fees and other offering expenses payable by Novan. Novan intends to use the net proceeds from the offering to fund its research and development programs and for general working capital purposes and other operating expenses. 