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 significant progress in its Phase 2b CONTROL study, with 50% of patients randomized despite COVID-19 disruptions. The company reported a cash position of $10.4 million as of December 31, 2020, and anticipates sufficient capital for upcoming trials. Key milestones include FDA orphan drug designation for TMB-003 and a licensing agreement for TMB-002. Timber's revenue for 2020 was approximately $0.5 million from grant funding, reflecting a focus on cost containment.
Timber Pharmaceuticals has extended its agreement with AFT Pharmaceuticals, granting Desitin Arzneimittel GmbH exclusive license and supply rights for TMB-002 in Europe. This new agreement focuses on the treatment of facial angiofibromas related to Tuberous Sclerosis Complex (TSC). As a result, Timber will receive a significant percentage of economics from any licensing deals made by AFT in regions outside North America. The agreement aims to provide an alternative to oral rapamycin, a widely used treatment associated with systemic toxicity.
Timber Pharmaceuticals announced that 50% of patients have been randomized in the Phase 2b CONTROL trial evaluating TMB-001 for moderate to severe congenital ichthyosis (CI). This milestone reflects the urgent need for new treatments in rare dermatologic diseases, which currently lack approved therapies. The company has also secured the final $1.5 million tranche of an FDA grant dedicated to orphan product clinical trials. The CONTROL study aims to enroll 45 patients and assess the safety and efficacy of two TMB-001 concentrations, potentially allowing for broader usage of isotretinoin.
Timber Pharmaceuticals (TMBR) announced that CEO John Koconis will present a corporate overview at the virtual 2021 H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The presentation will be available for on-demand viewing starting March 9 at 7:00 AM EST. Koconis and CFO Joe Luchese will also hold one-on-one investor meetings during the event. Timber focuses on developing treatments for rare dermatologic diseases, with a current emphasis on non-systemic therapies for conditions like congenital ichthyosis and facial angiofibromas.
Timber Pharmaceuticals Appoints Dr. Alan Mendelsohn as Chief Medical Officer
Timber Pharmaceuticals (TMBR) has announced the appointment of Dr. Alan Mendelsohn as Chief Medical Officer, succeeding Amir Tavakkol. Dr. Mendelsohn brings over 20 years of experience in clinical development, including his recent role at Sun Pharmaceuticals. He aims to enhance the company’s efforts in developing treatments for rare dermatologic diseases like congenital ichthyosis and facial angiofibromas. The leadership change is expected to strengthen Timber's clinical strategy as it advances into important research phases.
Timber Pharmaceuticals (TMBR) announced on January 12, 2021, that the FDA granted orphan drug designation to TMB-003, a treatment for systemic sclerosis. Currently, no FDA-approved treatments exist for cutaneous symptoms associated with this condition. TMB-003, a locally delivered formulation of sitaxsentan, aims to improve patient quality of life by addressing collagen buildup while minimizing systemic risks. Timber plans to submit an Investigational New Drug application in 2022 as it progresses into clinical research.
Timber Pharmaceuticals has received a formal notice of allowance for its patent application covering isotretinoin composition (U.S. Patent Application No.: 15/772,456) from the USPTO. This patent protection supports the development of TMB-001, a topical isotretinoin therapy for moderate to severe congenital ichthyosis (CI). Timber is working on a clinical program with potential orphan drug exclusivity, backed by a $1.5 million FDA grant for ongoing Phase 2a and 2b trials, actively enrolling patients across 11 sites in the U.S. and Australia.
Timber Pharmaceuticals, NYSE American: TMBR, has announced a business update conference call for investors on December 17th at 11:00am EST. The call will feature CEO John Koconis and CFO Joe Lucchese, discussing the company’s focus on developing treatments for rare dermatologic diseases. The conference call can be accessed via dial-in or live webcast, with a replay available on their website. Timber specializes in non-systemic therapies for conditions such as congenital ichthyosis and localized scleroderma. The company emphasizes its investigational therapies' proven mechanisms and established safety profiles.
Timber Pharmaceuticals (TMBR) announced its participation in the 13th Annual LD Micro Main Event on December 15, 2020, at 10:40 AM EST. CEO John Koconis will present to a virtual audience, highlighting the company’s focus on treatments for rare dermatologic diseases. The event, known for its unique format of 10-minute presentations followed by Q&A sessions, aims to engage both executives and investors. This Main Event will be held on the Sequire Virtual Events platform, emphasizing innovative approaches to virtual conferences.
Timber Pharmaceuticals (TMBR) announced the signing of waiver agreements with institutional investors regarding its series A and series B warrants. Effective November 19, 2020, the agreements allow for a one-time reset of the number of underlying shares and the exercise price. The series A warrants' exercise price is now set at $1.16 per share, with 20,178,214 shares underlying them. The series B warrants hold 22,766,776 shares. CEO John Koconis expressed optimism about achieving strategic goals following this arrangement.
FAQ
What is the market cap of Timber Pharmaceuticals (TMBR)?
What does Timber Pharmaceuticals, Inc. specialize in?
When was Timber Pharmaceuticals founded?
Who is acquiring Timber Pharmaceuticals?
What is TMB-001?
What is the significance of the Chapter 11 filing?
How much is the initial consideration in the LEO Pharma acquisition?
What are Contingent Value Rights (CVRs)?
Will Timber Pharmaceuticals remain a public company after the acquisition?
Where can investors find more detailed information about Timber Pharmaceuticals?
Who are the key contacts for investor and media relations at Timber Pharmaceuticals?
