Why Are Timber Pharmaceuticals Shares Trading Higher Today
Portfolio Pulse from Vandana Singh
The FDA has granted a dermal carcinogenicity waiver for Timber Pharmaceuticals' TMB-001, a topical isotretinoin formulated using the company's patented IPEG delivery system. This allows Timber to forgo a 2-year dermal rodent carcinogenicity study and accelerate the TMB-001 program. TMBR shares are up 87.90% at $2.80 during the premarket session.
June 05, 2023 | 12:31 pm
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Timber Pharmaceuticals receives FDA dermal carcinogenicity waiver for TMB-001, allowing the company to accelerate its program. TMBR shares up 87.90% in premarket trading.
The FDA waiver allows Timber Pharmaceuticals to forgo a 2-year dermal rodent carcinogenicity study, which will save time and resources. This positive development is likely to boost investor confidence in the company's TMB-001 program, leading to an increase in TMBR's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100