Item 8.01. Other Event.

On January 29, 2021, Novan, Inc. (the "Company") received written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that over the previous ten consecutive business days, from January 14, 2021 to January 28, 2021, the closing bid price for the Company's common stock had closed at $1.00 per share or greater. Accordingly, the Company has regained compliance with the minimum bid price listing requirement set forth under Nasdaq Listing Rule 5550(a)(2).

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