Timber Pharmaceuticals Inc. (TMBR) becomes bullish after hours, going up to $0.5310 against its last close of $0.5091 on November 17. Intraday trading, the stock lost 1.66%, which was followed by a gain of 4.30% in the after-hours. In the regular market session, the stock traded a volume of 5.89 million, while the volume in the after-hours was 4.93 million. The stock saw a high of $0.52 and a low of $0.50 during the day, while the 52-week range is between $3.65 and $0.49. In the past three months, the stock lost 47.9% of its value, compared to a loss of 31.5% year to date.
The uptrend in the after-hours on November 17, was seen after the company announced to discuss positive top-line results of its asset.
TMBR and Its Asset’s Positive Results
Founded in 2019, Timber Pharmaceuticals Inc. (TMBR) is a clinical-stage biopharmaceutical dermatology company. It is focused on the development and commercialisation of treatments for rare orphan dermatologic diseases.
TMB-001 Asset Study
On November 17, the company announced that it will host a conference call discussing positive top-line results of its asset on November 22nd. The call is meant to discuss the results of the TMBR’s recently completed phase 2b CONTROL Study of Congenital Ichthyosis (CI) for its asset, TMB-001. The TMB-001 is investigational topical isotretinoin which is formulated by using the company’s patented IPEGTM delivery system. The disease CI is basically a group of rare, genetic keratinization disorders that cause dry, thick, and scaling skin in patients. The phase 2b CONTROL study was designed to judge the efficacy and safety of the TMB-001 for the treatment of moderated-to-severe CI. Two different concentrations of the company’s asset TMB-001 were tested in the study to assess its efficacy.
The conference call discussing the results of the study is to be hosted by John Koconis (CEO) and Alan Mendelsohn, M.D. (CMO) of TMBR.
TMBR’s Financials
The company announced its third-quarter financial results on November 15, 2021. As per the results, TMBR generated a revenue of $266,974 in the third quarter of 2021, compared to $324,521 in of 2020. Moreover, the net loss attributable to common stockholders was $3,042,089, for Q3. Accordingly, the basic and diluted net loss per share for the third quarter of 2021, was $0.08.
In addition, TMBR had cash and cash equivalents of $3.4 million and common shares outstanding of 36.7 million on September 30, 2021.
