By Josh Beckerman
Timber Pharmaceuticals' stockholders at a special meeting didn't approve the sale of the company to Danish medical dermatology company LEO Pharma.
In a filing to the U.S. Securities and Exchange Commission, Timber said stockholders approved a proposal to adjourn the meeting if there were insufficient votes to adopt the merger agreement.
Before a trading halt earlier on Friday, Timber shares were up almost 17%, to $1.46.
Write to Josh Beckerman at josh.beckerman@wsj.com