Delisting Determination, The Nasdaq Stock Market, LLC, September 8, 2023,
Novan, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock of Novan, Inc. (the Company), effective
at the opening of the trading session on September 18, 2023.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rules 5101, 5110(b), and IM-5101-1.
The Company was notified of the Staff determination on
July 17, 2023. The Company did not appeal the Staff determination
to the Hearings Panel. The Company securities were suspended on
July 26, 2023. The Staff determination to delist the Company
securities became final on July 26, 2023.