Novan Announces Both Phase 3 Pivotal Trials for SB204 Fully Enrolled

– More than 2,600 Subjects Enrolled in US Ahead of Schedule
– Top-Line Results Expected in First Quarter of 2017

Novan, Inc. (the “Company” or “Novan”) (NASDAQ:NOVN) today announced that the last patient has been randomized in the Company’s two, identically designed Phase 3 pivotal clinical trials to evaluate the efficacy and safety of topical nitric oxide-releasing product candidate SB204 Gel in the treatment of acne vulgaris, or acne. Novan announced in February that the first patient had been dosed in these trials. Per the study protocol, the last patient randomized will be treated for 12 weeks. The Company is running the two Phase 3 pivotal trials in parallel and expects to report top-line results in the first quarter of 2017.