- Novan Inc. (NOVN) announced that its phase three clinical study of its antiviral gel for treating molluscum was positive.
- Novan’s stock jumped 62.39% to US$14.68 at the market close on June 11 after the study results were declared.
- Senseonic Holdings has seen a high surge in stock prices as active social media users heavily investing.
Novan Inc. (NOVN) and Senseonics Holdings Inc. (SENS) saw a major jump in their stock prices in Friday’s session, both ending the week on a positive note.
Novan develops medicines and therapies, while Senseonics makes glucose-monitoring systems.
Let’s explore here their recent performances.
Novan’s stock price jumped 62.39% to US$14.68 at the market close on June 11 after it declared positive results of its new skincare gel.
The company develops innovative healthcare products and therapies backed by technology and research.
On Friday, the company announced that its phase three clinical study of its antiviral gel for treating molluscum, a common skin infection, was positive.
Some six million people, mostly kids of 1-14 years old, have molluscum, it said.
The gel study showed safe results during the trials.
The stock price skyrocketed after the announcement. It has gained 40% YTD.
Its market cap is around US$22 million.
In Q1, 2021, it had liquidity reserves of US$32.2 million and US$32.6 million working capital. It logged a net loss of US$9 million loss.
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Senseonics Holdings Inc.
The Maryland-based medical technology company stock surged more than 10% at the market close on June 11. Though the stock has been doing well lately, no specific reason can be attributed to Friday’s surge in stock price.
However, the stock finds mention on some social media sites like Reddit and Facebook. On June 4, the stock had soared 30% in intraday trade after reports about the increased accuracy of its glucose monitoring tool (CGM) hit the market.
The company specializes in glucose monitoring systems for diabetic patients. The product has been in huge demand in Europe.
The stock had rallied 40% last Friday. Year to date, it saw 334% growth.
Its market cap is around US$1.6 billion.
In Q1, 2021, the company logged revenue of US$2.85 million. It decreased operating losses by US$32.52 million as compared to the previous year.