Welcome to our dedicated page for Timber Pharmaceuticals news (Ticker: TMBR), a resource for investors and traders seeking the latest updates and insights on Timber Pharmaceuticals stock.
Timber Pharmaceuticals, Inc. (NYSE American: TMBR) is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of treatments for rare and orphan dermatologic diseases. Founded in 2019 and headquartered in Woodcliff Lake, New Jersey, Timber specializes in non-systemic therapies aimed at conditions like congenital ichthyosis (CI) and sclerotic skin diseases. The company leverages proven mechanisms-of-action, backed by extensive clinical experience and well-established chemistry, manufacturing, and control (CMC) and safety profiles.
Timber has been actively engaged in several high-impact projects. The company recently entered into a definitive agreement to be acquired by LEO US Holding, Inc., a subsidiary of LEO Pharma A/S, in a transaction valued at up to $36 million. This deal includes an initial upfront consideration of $14 million and potential additional payments of up to $22 million, contingent upon achieving specific milestones for TMB-001, Timber's lead candidate for the treatment of congenital ichthyosis. The merger, which is expected to close in the fourth quarter of 2023, will convert all outstanding shares of Timber into the right to receive the initial consideration, subject to certain deductions.
In addition to the merger, Timber is navigating through a Chapter 11 reorganization process, having filed voluntary petitions on November 17, 2023. The U.S. Bankruptcy Court for the District of Delaware approved all initial motions, including $3 million in interim funding via a debtor-in-possession (DIP) financing facility provided by LEO US Holding, Inc. This funding aims to support the company's ongoing operations, particularly the Phase 3 ASCEND study for TMB-001.
Timber's innovative approach and strategic partnerships, including the recent acquisition deal with LEO Pharma, position the company to make significant advancements in the field of dermatology. For more detailed information, investors can visit Timber Pharmaceuticals' official website.
Timber Pharmaceuticals (NYSE American: TMBR) announced that seven abstracts detailing positive clinical data from its Phase 2b CONTROL study of TMB-001 will be presented at the 31st European Academy of Dermatology and Venerology Congress in Milan from September 7-10, 2022. The FDA has designated TMB-001 as a breakthrough therapy for congenital ichthyosis, a rare skin disorder. The studies highlight significant improvements in quality of life and treatment efficacy, showcasing its potential impact on patients suffering from this condition.
Timber Pharmaceuticals has published positive results from its Phase 2b CONTROL study of TMB-001 for treating moderate to severe congenital ichthyosis (CI) in the Journal of the American Academy of Dermatology. The study showed significant efficacy with TMB-001, especially at 0.05% concentration, achieving treatment success rates of 100% in the per-protocol population. Following these promising results, Timber initiated the pivotal Phase 3 ASCEND clinical trial to further evaluate TMB-001 in this patient population. The company is optimistic about the treatment's potential to enhance the quality of life for individuals with CI.
Timber Pharmaceuticals announced the enrollment of the first patients in its Phase 3 ASCEND clinical trial for TMB-001 after receiving Breakthrough Therapy designation from the FDA. This pivotal trial, targeting over 140 patients with moderate to severe Congenital Ichthyosis, aims to demonstrate the efficacy and safety of TMB-001, a topical isotretinoin. The company reported no revenue for Q2 2022, down from $388,819 in Q2 2021, ending with approximately $8.3 million in cash. In August, Timber completed an $8 million financing to support its clinical endeavors.
Timber Pharmaceuticals (TMBR) has completed a public offering of 66,666,667 shares of common stock at $0.12 per share, raising approximately $8.0 million in gross proceeds. The funds will support research and development, including clinical trials, and general corporate purposes. The offering involved warrants with a $0.12 exercise price, expiring in five years. H.C. Wainwright & Co. acted as the placement agent. The offering was registered with the SEC, with effective registration as of August 4, 2022.
Timber Pharmaceuticals, Inc. (TMBR) announced a public offering of 66,666,667 shares of its common stock and associated warrants, priced at $0.12 each. The offering aims to raise approximately $8.0 million for research and development, including clinical trials and working capital. The closing is expected on August 8, 2022. H.C. Wainwright & Co. is the exclusive placement agent. The offering is registered under Form S-1 and follows SEC regulations. This move reflects Timber's commitment to advancing treatments for rare dermatologic diseases.
Timber Pharmaceuticals, Inc. (TMBR) has begun enrolling patients in the pivotal Phase 3 ASCEND clinical trial, targeting over 140 participants with moderate to severe congenital ichthyosis (CI). The trial will assess the efficacy and safety of TMB-001, a topical isotretinoin. The FDA awarded $1.5 million to support earlier trials and granted Breakthrough Therapy and Fast Track designations to TMB-001. The trial, conducted at leading centers in the U.S. and Europe, aims to provide an effective treatment option while minimizing systemic side effects associated with oral isotretinoin.
Timber Pharmaceuticals (TMBR) has received Breakthrough Therapy designation from the FDA for its topical treatment, TMB-001, aimed at congenital ichthyosis (CI). This designation is crucial for expediting the development of therapies for serious conditions. TMB-001 showed significant efficacy in a prior Phase 2b study, demonstrating improvement in CI severity with a favorable safety profile. The company is set to initiate the pivotal Phase 3 ASCEND clinical trial across several countries, expecting to dose the first patients in June 2022.
Timber Pharmaceuticals (TMBR) announced that its lead asset, TMB-001, received Fast Track designation from the FDA, paving the way for a pivotal Phase 3 study anticipated by June 30, 2022. This milestone is crucial for TMB-001's potential as the first FDA-approved therapy for Congenital Ichthyosis, addressing a significant unmet medical need.
The company reported $83,177 in revenue for Q1 2022, up from $40,734 in Q1 2021, attributed to clinical milestone reimbursements from a $1.5 million FDA grant. As of March 31, 2022, Timber had $13.9 million in cash.
Timber Pharmaceuticals (NYSE American: TMBR) announced that the FDA has granted Fast Track designation for TMB-001, a topical treatment for X-linked recessive ichthyosis and autosomal recessive congenital ichthyosis. This designation facilitates more frequent communication with the FDA, potentially accelerating the drug's approval. Timber is set to launch the pivotal Phase 3 ASCEND clinical trial within 60 days, following positive results from its Phase 2b CONTROL study, which showed a significant reduction in ichthyosis severity with TMB-001.
Timber Pharmaceuticals (TMBR) announced a Phase 3 study initiation for TMB-001 in Q2 2022 following positive topline data from its Phase 2b study. The company reported Q4 2021 revenue of $190,005, up from $102,382 in Q4 2020, with total 2021 revenues of $886,532 compared to $453,810 in 2020. Timber ended 2021 with $16.8 million in cash, bolstered by a $17.25 million public offering. However, its financial statements noted a going concern emphasis from auditors, highlighting potential financial uncertainties.
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