Adeptus Health Gets Injection of Cash; Novan Gets Positive Phase II Results

NEW YORK, NY / ACCESSWIRE / April 13, 2017 / Adeptus Health, facing significant financial doldrums, found cash to buoy investor confidence and continue long term operations. Novan received good news from the FDA that has investors looking toward the not-too-distant future.

RDI Initiates
Coverage on:

Adeptus Health Inc.

https://ub.rdinvesting.com/news/?ticker=ADPT

Novan Inc.

https://ub.rdinvesting.com/news/?ticker=NOVN

Adeptus Health found its way back from the brink by rising up an impressive 108.33 % to close at $2.25 on Wednesday. The stock traded between $1.12 and $3.70 per share on 30 times its average volume with 31,561,287 shares traded. Wednesday’s bull rush began when the company announced it has raised $42 million. It will be reporting its next group of financials on April 19th.

In the information released to the public there were a few key points that could bolster investor confidence. Among them:

Wexford Capital is the company buying in to increase its share in the company to 8.54%. As a company, Wexford has more than $3 billion of assets as well as extensive experience and knowledge of investing in distressed situations. This includes companies that are considering Chapter 11 bankruptcy proceedings.

According to the agreement, “while [Adeptus] may need to restructure its debt, such a restructuring should be able to be accomplished either in or outside of a chapter 11 reorganization proceeding.” Wexford assessed the general financial condition of Adeptus as, “sound.”

Access RDI’s Adeptus
Health Inc. Research Report at:

https://ub.rdinvesting.com/news/?ticker=ADPT

Novan spiked 20.96 % to close at $6.29 on Wednesday. The stock traded between $6.25 and $7.85 per share on a volume of 5,376,972. The lift came after the company announced they had received positive feedback on the Phase 2 trial of its skin and nail treatment SB208. The treatment is an antifungal gel used to treat superficial cutaneous fungal infections of the skin, including athlete’s foot. It has demonstrated excellent progress and will now move on to clinical trials for its efficacy and safety on onychomycosis. This is scheduled to begin in the second half of 2017.

Investors are already looking forward to Phase III clinical trials and potential partnerships to advance the product to market. The company reported a net loss of nearly $60 million for the fiscal year ending December 31, 2016.

Access RDI’s Novan
Inc. Research Report at:

https://ub.rdinvesting.com/news/?ticker=NOVN

Our Actionable Research on Adeptus Health Inc. (NYSE: ADPT) and Novan Inc. (NASDAQ: NOVN) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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