May 15, 2020 / 1:06 PM / 22 days ago

BRIEF-Novan Inc Says Some Previously Issued Financial Statements Should No Longer Be Relied Upon

May 15 (Reuters) - Novan Inc:

* NOVAN INC - AUDIT COMMITTEE CONCLUDED THAT SOME PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS SHOULD NO LONGER BE RELIED UPON

* NOVAN INC - WILL RESTATE ITS CONSOLIDATED FINANCIAL STATEMENTS FOR EACH OF AFFECTED PERIODS

* NOVAN INC - TO RESTATE FINANCIAL STATEMENTS BECAUSE OF A MISAPPLICATION OF ACCOUNTING GUIDANCE APPLICABLE TO WARRANTS

* NOVAN INC - DETERMINED THAT MISAPPLICATION TO BE IMMATERIAL TO CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED DECEMBER 31, 2019

* NOVAN INC - MISAPPLICATION OF ACCOUNTING GUIDANCE APPLICABLE TO WARRANTS RESULTED FROM MATERIAL WEAKNESS IN INTERNAL CONTROL Source text for Eikon: (bit.ly/2X2j30f) Further company coverage:

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