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 (TMBR) recently presented a sub-analysis of its Phase 2b CONTROL study at the AAD 2022 Annual Meeting, demonstrating the efficacy of TMB-001 for treating congenital ichthyosis (CI) across various subtypes. The treatment showed a significant success rate with patients achieving a 50% reduction in skin scaling (VIIS-50) regardless of CI subtype. Notably, 100% of patients with X-linked recessive ichthyosis achieved treatment success. The company plans to initiate a pivotal Phase 3 study mid-2022, seeking further validation of TMB-001's effectiveness.
Timber Pharmaceuticals (TMBR) announced a successful End-of-Phase 2 meeting with the FDA for TMB-001, a treatment for congenital ichthyosis (CI). The Phase 2b CONTROL study demonstrated significant efficacy and safety, with plans to initiate a pivotal Phase 3 study in Q2 2022. TMB-001 showed a median time to response of 28 days versus 63.5 days for the vehicle, with 100% of patients achieving a 50% reduction in scaling for the 0.05% dose in the per-protocol population. CI, affecting about 80,000 patients in the U.S., currently lacks FDA-approved treatments.
Timber Pharmaceuticals (NYSE American: TMBR) will present a corporate overview at the H.C. Wainwright BioConnect Virtual Conference, scheduled for January 10-13, 2022. The presentation will be accessible for on-demand viewing starting January 10, 2022, at 7:00 a.m. ET for conference attendees. Timber specializes in developing treatments for rare dermatologic diseases, focusing on conditions like congenital ichthyosis and facial angiofibromas. For further details, visit www.timberpharma.com.
Timber Pharmaceuticals (TMBR) announced a conference call on November 22, 2021, at 10:00 am ET to discuss positive topline results from its Phase 2b CONTROL Study focused on treating Congenital Ichthyosis with their lead product, TMB-001. CEO John Koconis and CMO Alan Mendelsohn will present details related to the study's outcomes. The call will be accessible via dial-in and live webcast, with a replay available on Timber's website.
Timber Pharmaceuticals, Inc. (NYSE American: TMBR) reported positive topline results from its Phase 2b CONTROL Study for lead asset TMB-001, showing meaningful efficacy and safety. Following this, the company raised $17.25 million in gross proceeds to fund further development, including a Phase 3 study planned for Q2 2022. Additionally, enrollment for the Phase 2b trial of TMB-002 has concluded, with data expected in Q3 2022. Timber ended Q3 2021 with $3.4 million in cash and reported revenue of $266,974, largely from clinical milestones.
Timber Pharmaceuticals (NYSE American: TMBR) has announced that its underwriter fully exercised an option to purchase an additional 3,515,625 shares in a previously closed public offering, bringing total shares sold to 26,953,125. The offering results in total gross proceeds of $17.25 million. Proceeds will be utilized for general corporate purposes, including ongoing research, clinical trials, and potential acquisitions. This follows a shelf registration statement filed with the SEC. Timber emphasizes its focus on treatments for rare dermatologic diseases.
Timber Pharmaceuticals (TMBR) has successfully closed its public offering of 23.4 million shares at $0.64 each, raising gross proceeds of $15 million. Each share is paired with a warrant to buy additional stock at $0.70, exercisable immediately for five years. The underwriter, H.C. Wainwright & Co., has an option for an additional 3.5 million shares. Proceeds will finance research, clinical trials, and potential acquisitions. The offering was conducted under an effective shelf registration statement with the SEC.
Timber Pharmaceuticals, Inc. (NYSE American: TMBR) has priced an underwritten public offering of 23,437,500 shares of common stock, along with accompanying warrants, at a combined price of $0.64 per share. The offering is expected to yield $15 million in gross proceeds. Each warrant allows the purchase of one share at an exercise price of $0.70 and is exercisable immediately for five years. The company plans to use the net proceeds for general corporate purposes, including clinical trials and technology development. The offering is set to close by November 5, 2021.
Timber Pharmaceuticals (NYSE American: TMBR) announced its intention to offer common stock in an underwritten public offering, alongside warrants to purchase shares. The expected proceeds will support general corporate purposes, including research, clinical trials, and potential acquisitions. H.C. Wainwright & Co. is the sole book-running manager for this offering, which is subject to market conditions. The company's previous shelf registration statement with the SEC facilitates this process. Details will be available through a filed prospectus supplement.
Timber Pharmaceuticals announced positive top-line results from its Phase 2b CONTROL study of TMB-001, a topical isotretinoin for treating moderate to severe congenital ichthyosis (CI). In the study, 100% of patients using TMB-001 0.05% achieved significant reduction in ichthyosis severity. The company plans to meet with the FDA in early 2022 and initiate a Phase 3 study in Q2 2022. This investigational treatment shows potential where no FDA-approved therapies currently exist, highlighting Timber's commitment to addressing the unmet needs of CI patients.
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