Novan (NOVNW) Long-Term Capital Lease Obligation : $3.39 Mil (As of Mar. 2023)

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What is Novan Long-Term Capital Lease Obligation?

Novan's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2023 was $3.39 Mil.

Novan's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 ($3.80 Mil) to Dec. 2022 ($3.74 Mil) and declined from Dec. 2022 ($3.74 Mil) to Mar. 2023 ($3.39 Mil).

Novan's annual Long-Term Capital Lease Obligation increased from Dec. 2020 ($0.00 Mil) to Dec. 2021 ($3.61 Mil) and increased from Dec. 2021 ($3.61 Mil) to Dec. 2022 ($3.74 Mil).

Novan Long-Term Capital Lease Obligation Historical Data

The historical data trend for Novan's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Novan Long-Term Capital Lease Obligation Chart

Novan Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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8.01

5.10

3.61

3.74

Novan Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															3.90	3.70	3.80	3.74	3.39

Novan (OTCPK:NOVNW) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Novan Long-Term Capital Lease Obligation Related Terms

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Novan Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Novan Inc (OTCPK:NOVNW) » Definitions » Long-Term Capital Lease Obligation

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Address

P.O. Box 64, Pittsboro, NC, USA, 27312

Website

https://www.novan.com

NVN Liquidation Inc Formerly Novan Inc is a dermatology company focused on developing and commercializing therapeutic products for skin diseases. It is developing SB206 as a topical prescription gel for the treatment of viral skin infections. The company's product portfolio includes; Wynzora Cream for the treatment of plaque psoriasis, Rhofade cream for the treatment of persistent facial erythema, Minolira tablets to treat inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients, Cloderm cream for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses, Sitavig tablets for the treatment of recurrent herpes labialis in immunocompetent adults, and Nuvail nail solution for managing signs and symptoms of nail dystrophy.