Why Timber Pharmaceuticals Stock Is Skyrocketing Today
Portfolio Pulse from Akanksha Bakshi
Timber Pharmaceuticals, Inc. (NYSE:TMBR) has agreed to be acquired by LEO US Holding, Inc., a subsidiary of LEO Pharma A/S, for a total transaction value of $36 million. The deal includes an initial upfront consideration of $14 million and up to an additional $22 million in contingent value rights (CVRs) payable upon achievement of certain milestones. The transaction is expected to close in 4Q23, after which Timber will become a privately held company.
August 21, 2023 | 1:42 pm
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Timber Pharmaceuticals is being acquired by LEO US Holding, Inc. for $36 million. The deal includes an upfront payment and contingent value rights. The transaction is expected to close in 4Q23.
The acquisition of Timber Pharmaceuticals by LEO US Holding, Inc. is a significant event for the company and its shareholders. The deal includes an upfront payment and contingent value rights, providing both immediate and potential future value for shareholders. This news is highly relevant and important for investors in TMBR, and the positive market reaction suggests a high level of confidence in the deal.
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