Ligand partner Novan submits NDA to FDA for berdazimer gel

Ligand (LGND) announced that its partner Novan (NOVN) has submitted a new drug application, or NDA, to FDA seeking marketing approval for berdazimer gel, 10.3% for the topical treatment of molluscum contagiosum. Assuming the filing is accepted by the FDA and given a typical 12-month review process, Novan anticipates a potential first quarter 2024 approval. Under a development funding and royalties agreement with Novan for berdazimer gel, Ligand is entitled to receive up to $20M of milestone payments and tiered royalties of 7% to 10% on future worldwide sales of berdazimer gel.