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) announced its Q3 2020 financial results and business updates. The company is advancing two Phase 2b trials for rare dermatologic conditions, with total cash used in operations at $6.6 million for the nine months ending September 30. As of that date, Timber held $12 million in cash. The FDA grant for TMB-001 has totaled $0.6 million to date. However, patient enrollment in the TMB-002 study has been affected by COVID-19, particularly in Eastern Europe. Timber expects all sites to be open by year-end 2020.
Timber Pharmaceuticals has received a formal notice of allowance from the U.S. Patent and Trademark Office for its patent application concerning pharmaceutical tetracycline compositions for dermatological use. This includes claims related to its products BPX-01 and BPX-04, aimed at treating skin conditions like acne and rosacea. This patent is expected to enhance the protection of Timber's dermatology portfolio and support its strategy for co-development or partnerships. The compositions aim to minimize side effects compared to oral treatments.
Timber Pharmaceuticals (NYSE American: TMBR) will present at the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. The presentation, led by CEO John Koconis, is scheduled for September 16th at 12:30 PM ET. Timber, a biopharmaceutical company, focuses on developing treatments for orphan dermatologic diseases, including congenital ichthyosis and localized scleroderma. Investors can access the live webcast here.
Timber Pharmaceuticals (NYSE American: TMBR) will present at the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. The virtual presentation is scheduled for September 16th at 12:30 PM ET, featuring CEO John Koconis, who will provide a corporate overview and engage in one-on-one meetings with investors. Timber focuses on developing non-systemic treatments for rare dermatologic diseases, including congenital ichthyosis and localized scleroderma. For more details, visit timberpharma.com.
Timber Pharmaceuticals (NYSE American: TMBR), a biopharmaceutical company specializing in orphan dermatologic diseases, will present at the LD Micro 500 virtual investor conference on September 2, 2020, at 10:20am ET. CEO John Koconis will lead the presentation, which will be followed by one-on-one meetings with investors. The event runs from September 1-4, 2020. Interested parties can access the live webcast and replay through a provided link. Timber is focused on developing treatments for conditions like congenital ichthyosis and localized scleroderma.
Timber Pharmaceuticals has appointed two new board members, Dr. David Cohen and Dr. Lubor Gaal, to enhance its expertise in drug development. Dr. Cohen, a prominent dermatologist, brings extensive experience in advancing treatment guidelines for rare dermatologic conditions. Dr. Gaal, a biotech entrepreneur, has a strong background in business development and licensing. The company's focus remains on developing non-systemic treatments for orphan dermatologic diseases. This strategic addition aims to strengthen Timber's clinical development pipeline and potentially expand its market opportunities.
Timber Pharmaceuticals (TMBR) provided an update on August 18, 2020, on its Phase 2b clinical trials for treatments of orphan dermatologic diseases, reporting that all 11 CONTROL trial sites for TMB-001 are operational. The company anticipates completing patient enrollment for TMB-001 and TMB-002 by early 2021. Timber's recent merger with BioPharmX has positioned it well, with nearly $14 million in cash to fund trials through Q3 2021. The European Patent Office is expected to grant a patent for a topical composition related to its assets, enhancing market potentials.
Timber Pharmaceuticals, Inc. (TMBR) announced it will receive a patent from the European Patent Office for its stable topical composition of pharmaceutical tetracycline, aimed at treating acne and rosacea. This patent enhances the company's dermatology portfolio and follows a merger with BioPharmX Corporation. The new patent supports Timber's focus on developing non-systemic treatments for rare dermatologic diseases. The company has also secured patent protection in the U.S. and South Africa. CEO John Koconis highlighted the composition's potential to minimize side effects compared to traditional oral treatments.
Timber Pharmaceuticals, focused on orphan dermatologic diseases, announces a presentation by CEO John Koconis at the Virtual Summer Summit on June 9, 2020, at 2:10 PM ET. The event, attracting over 500 executives and investors, will feature insights into Timber's development pipeline and upcoming milestones. Attendees can access the presentation via a provided link. Timber specializes in non-systemic treatments for rare conditions such as congenital ichthyosis and localized scleroderma, ensuring a strong focus on therapies with proven safety profiles.
Timber Pharmaceuticals announced its first investor conference call post-merger with BioPharmX on May 18, 2020. Scheduled for May 26, 2020, at 11:00 AM EDT, the call will be hosted by CEO John Koconis. The session aims to provide shareholders with insights into the company's development pipeline focused on orphan dermatologic diseases, including congenital ichthyosis, tuberous sclerosis complex, and localized scleroderma. Interested parties can join via dial-in or access the live webcast through Timber's website.
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?
