The US Bankruptcy Court gave an order approving the sale of certain assets of Novan, Inc. on September 12, 2023. The debtor has been authorized to sell its certain assets to LNHC, Inc., the winning bidder at the auction, for a purchase price of $12.15 million in cash with an earnest money deposit of 10% of purchase price. The debtor?s assets include R&D Assets and certain Commercial Assets.