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Wednesday, February 8, 2023

Why Has The Timber Pharmaceuticals (TMBR) Stock Price Gained 9% In Extended Session?

Shares of Timber Pharmaceuticals Inc. (NYSE: TMBR) were up 9.49% at $1.73 at last check in after-hours trading, as the biopharmaceutical firm will have a briefing.

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What will be covered during the event by TMBR?

On December 20, 2022, at 10:30 a.m. ET, Timber Pharmaceuticals (TMBR) will conduct a virtual investor Business Briefing with Q&A. Timber Pharmaceuticals’ Chairman and CEO John Koconis will talk about the company’s milestone accomplishments in 2022 as well as what investors should anticipate in 2023 and beyond.

In 2022, TMBR reached a number of significant milestones, including the FDA Fast Track and Breakthrough Therapy designations for TMB-001, which are meant to hasten the development and approval of medicines that address critical illnesses and unmet medical needs. The primary product of TMBR, TMB-001 (IPEG topical isotretinoin), has been developed for the treatment of mild to severe congenital ichthyosis subtypes.

An uncommon and severe genetic skin condition known as congenital ichthyosis (CI) is characterized by dry, scaly skin that is frequently unusually thick. Additionally, the European Commission granted TMBR formal orphan status for TMB-001 for such therapy of autosomal recessive congenital ichthyosis (ARCI), granting TMB-001 a 10-year period of commercial exclusivity in the EU upon European product clearance.

CheckRare, a learning site devoted to disseminating clinical updates and useful knowledge on rare and orphan illnesses, has highlighted TMBR. The Chief Medical Officer of TMBR, Alan Mendelsohn, MD, spoke about the method of action of TMB-001.

What steps will TMBR take to further this?

TMB-001 is now in the late stages of development, and the key Phase 3 ASCEND clinical trial enrollment is going according to schedule. Timber Pharmaceuticals (TMBR) is in continuing negotiations with possible candidates across Europe and has started looking into partnerships and license arrangements for TMB-001. Later this month, TMBR will interact with stakeholders at its Business Briefing.

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