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Timber Pharmaceuticals, Inc. (TMBR)

NYSE American - NYSE American Delayed Price. Currency in USD
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1.1150-0.0350 (-3.04%)
At close: 12:58PM EST

1.1200 0.00 (0.45%)
After hours: 4:16PM EST

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Previous Close1.1500
Open1.1200
Bid1.1100 x 1200
Ask1.1200 x 900
Day's Range1.1000 - 1.1500
52 Week Range0.8700 - 12.6000
Volume63,597
Avg. Volume551,073
Market Cap13.212M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateNov 12, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Timber Pharmaceuticals Signs Waiver Agreement with Warrant Holders
    GlobeNewswire

    Timber Pharmaceuticals Signs Waiver Agreement with Warrant Holders

    WOODCLIFF LAKE, NJ, Nov. 20, 2020 (GLOBE NEWSWIRE) -- NewMediaWire \-- Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced that it has signed waiver agreements with certain of its existing institutional investors.  Effective as of November 19, 2020 (the “Effective Date”), Timber entered into waiver agreements (the “Waiver Agreements”) with each of the holders of its series A and series B warrants in which all the parties agreed to waive certain rights and amend certain provisions of the warrants and associated securities purchase agreement.Pursuant to the Waiver Agreements, the holders agreed to (i) waive certain provisions in the warrants in order to allow for one immediate and final reset of the number of shares of common stock underlying the warrants and the exercise price of the series A warrants using the formula provided in the warrants*, and (ii) permanently waive the provisions providing for future resets of the number of shares of common stock underlying the warrants and the exercise price of the series A warrants (other than certain anti-dilution protection provisions in the series A warrants). As a result of the foregoing, (A) the exercise price of the series A warrants was set at $1.16 per share (the “Series A Exercise Price”), (B) the number of shares underlying all of the series A warrants was set at 20,178,214 and (C) the number of shares underlying all of the Series B Warrants was set at 22,766,776.“We are pleased to sign these agreements which we believe will put Timber on firmer footing to reach its strategic goals,” said John Koconis, Chief Executive Officer of Timber Pharma.* For additional details of the agreement, see the Company’s Form 8-K filed with the Securities and Exchange Commission on November 20, 2020. About Timber Pharmaceuticals, Inc.Timber Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and localized scleroderma. For more information, visit www.timberpharma.com.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's Form 10-Q filed on August 18, 2020 and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.For more information, contact:Timber Pharmaceuticals, Inc.  John Koconis  Chief Executive Officer jkoconis@timberpharma.comInvestor Relations: Stephanie Prince PCG Advisory (646) 762-4518 sprince@pcgadvisory.comMedia Relations:  Adam Daley Berry & Company Public Relations  (212) 253-8881 adaley@berrypr.com

  • Timber Pharmaceuticals Provides Business Update and Announces Third Quarter 2020 Financial Results
    GlobeNewswire

    Timber Pharmaceuticals Provides Business Update and Announces Third Quarter 2020 Financial Results

    WOODCLIFF LAKE, NJ, Nov. 12, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today provided a business update and announced financial results for the third quarter of 2020, ended September 30, 2020.  John Koconis, Chief Executive Officer of Timber, commented, “During the third quarter the management team of Timber has been working hard on all fronts of the Company’s operations. This includes advancing our two ongoing Phase 2b clinical trials for orphan indications, exploring strategic options for the two assets acquired from BioPharmX Corp, and investigating options to improve the capital structure of the Company. We are also focused on increasing the efficiency of our operations, as evidenced by the cash used in operations for the nine months ended September 30, 2020 was only $6.6 million, compared to cash used in operation for the six months ended June 30, 2020 of $5.1 million, or a cash burn of $1.5 million in the quarter ended September 30, 2020. At September 30th, our cash balance was $12.0 million.” “With worldwide COVID-19 cases rising, we are actively working with and monitoring our testing sites to reduce the potential for impact on our two trials, which together are taking place at 27 locations in 10 countries around the world. In July, we announced that all 11 sites across the U.S. and Australia participating in the Phase 2b CONTROL study evaluating TMB-001, topical isotretinoin for Congenital Ichthyosis, a rare disorder with no U.S. Food & Drug Administration (FDA) approved treatments, were open and enrolling patients. At the same time, we also announced that 70% of the sites participating in the Phase 2b clinical trial evaluating TMB-002, topical rapamycin for the treatment of facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), were open and enrolling patients. Currently, the TMB-001 study is progressing according to plan. However, site activation and patient enrollment have recently been impacted by the COVID-19 pandemic in the larger and longer TMB-002 study, especially at our contracted test sites in Eastern Europe.  At this time, we expect all sites to be opened by year-end 2020 and are working closely with the sites to better estimate any delay to the recruitment timelines.”“We received $0.3 million in the third quarter in connection with the $1.5 million grant funding awarded to us by the FDA for TMB-001, bringing the total received to date to $0.6 million. The grant was awarded to us as part of the Orphan Products Clinical Trials Grants Program of the FDA’s Office of Orphan Products Development. With the expenses of the merger transaction now behind us and the capital in hand to fund our programs, we are fully focused on advancing our programs and driving toward our goals against the backdrop of the COVID-19 environment,” concluded Mr. Koconis.For Timber’s complete financial results for the period ended September 30, 2020, see the Company’s quarterly Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020. About Timber Pharmaceuticals, Inc.Timber Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and localized scleroderma. For more information, visit www.timberpharma.com.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's Form 10-Q filed on August 18, 2020 and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.For more information, contact:Timber Pharmaceuticals, Inc.  John Koconis  Chief Executive Officer jkoconis@timberpharma.comInvestor Relations: Stephanie Prince PCG Advisory (646) 762-4518 sprince@pcgadvisory.comMedia Relations:  Adam Daley Berry & Company Public Relations  (212) 253-8881 adaley@berrypr.com

  • GlobeNewswire

    Timber Pharmaceuticals Receives Notice of Allowance from U.S. Patent and Trademark Office for BPX-01 and BPX-04

    \- Formal notice confirms intent to grant patent for pharmaceutical tetracycline compositions for dermatological use -WOODCLIFF LAKE, N.J., Sept. 15, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases, today announced that it has received a formal notice of allowance from the U.S. Patent and Trademark Office (USPTO) for the Company’s patent application covering its pharmaceutical tetracycline (including minocycline) compositions for dermatological use (U.S. Patent Application No.: 16/514,459). “The notice of allowance from the USPTO further protects our dermatology portfolio,” said John Koconis, Chief Executive Officer of Timber. “Our stable topical composition of minocycline is the result of many years of research and development and has the potential to reduce side effects associated with oral systemic delivery in the treatment of dermatologic conditions.” This notice confirms the allowance of additional claims relative to the Company’s BPX-01 and BPX-04 assets including the Company’s method for treating an active dermatological inflammation or infection, including acne or rosacea, by applying the topical compositions to an inflamed or infected area of skin at least once daily for a period of at least one month. Timber previously announced its intention to evaluate its proprietary topical programs, BPX-01 and BPX-04, in the treatment of inflammatory lesions of acne vulgaris and papulopustular rosacea for a strategic partnership, co-development or other non-dilutive value creation strategy. Timber believes the expansion of claims for this patent will further protect these assets. About Timber Pharmaceuticals, Inc.Timber Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and localized scleroderma. For more information, visit https://www.timberpharma.com/.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's Form 10-Q filed on August 18, 2020 and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.For more information, contact:Timber Pharmaceuticals, Inc.  John Koconis  Chief Executive Officer jkoconis@timberpharma.comInvestor Relations: Stephanie Prince PCG Advisory (646) 762-4518 sprince@pcgadvisory.comMedia Relations: Adam Daley Berry & Company Public Relations (212) 253-8881 adaley@berrypr.com