Timber Pharmaceuticals shares are trading higher after the company announced it entered into a definitive agreement to be acquired by LEO Pharma for up to $36 million.
Portfolio Pulse from Benzinga Newsdesk
Timber Pharmaceuticals has announced a definitive agreement to be acquired by LEO Pharma for up to $36 million, causing its shares to trade higher.
August 21, 2023 | 2:19 pm
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Timber Pharmaceuticals' shares are trading higher following the announcement of its acquisition by LEO Pharma for up to $36 million.
The acquisition announcement by LEO Pharma has led to a positive market reaction, causing Timber Pharmaceuticals' shares to trade higher. This is likely due to the perceived value of the deal, which could provide a significant cash influx for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100