Timber Pharmaceuticals Shares Soar on Takeover by LEO Pharma

Dow Jones

Aug 21, 2023

By Colin Kellaher

Shares of Timber Pharmaceuticals nearly doubled in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Danish medical dermatology company LEO Pharma in a deal worth up to $36 million.

The stock was recently up more than 96% to $2.79 in premarket trading.

Timber, a Warren, N.J., company focused on orphan dermatologic diseases, said the deal includes initial consideration of $14 million, or $2.62 a share, in cash, a nearly 85% premium to Friday's closing price of $1.42.

Timber said the transaction also includes contingent value rights worth up to an additional $22 million tied to milestones related to its TMB-001 drug candidate.

The deal is slated to close by the end of the year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 21, 2023 08:15 ET (12:15 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2361575585"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2361575585\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2361575585?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-08-21 20:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2361575585","market":"us","top_or_hot":-1,"title":"Timber Pharmaceuticals Shares Soar on Takeover by LEO Pharma","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of <a href=\"https://laohu8.com/S/TMBR\">Timber Pharmaceuticals</a> nearly doubled in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Danish medical dermatology company LEO Pharma in a deal worth up to $36 million. \n</p>\n<p>\n  The stock was recently up more than 96% to $2.79 in premarket trading. \n</p>\n<p>\n  Timber, a Warren, N.J., company focused on orphan dermatologic diseases, said the deal includes initial consideration of $14 million, or $2.62 a share, in cash, a nearly 85% premium to Friday's closing price of $1.42. \n</p>\n<p>\n  Timber said the transaction also includes contingent value rights worth up to an additional $22 million tied to milestones related to its TMB-001 drug candidate. \n</p>\n<p>\n  The deal is slated to close by the end of the year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 21, 2023 08:15 ET (12:15 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Timber Pharmaceuticals Shares Soar on Takeover by LEO Pharma</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTimber Pharmaceuticals Shares Soar on Takeover by LEO Pharma\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-08-21 20:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of <a href=\"https://laohu8.com/S/TMBR\">Timber Pharmaceuticals</a> nearly doubled in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Danish medical dermatology company LEO Pharma in a deal worth up to $36 million. \n</p>\n<p>\n  The stock was recently up more than 96% to $2.79 in premarket trading. \n</p>\n<p>\n  Timber, a Warren, N.J., company focused on orphan dermatologic diseases, said the deal includes initial consideration of $14 million, or $2.62 a share, in cash, a nearly 85% premium to Friday's closing price of $1.42. \n</p>\n<p>\n  Timber said the transaction also includes contingent value rights worth up to an additional $22 million tied to milestones related to its TMB-001 drug candidate. \n</p>\n<p>\n  The deal is slated to close by the end of the year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 21, 2023 08:15 ET (12:15 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4007","symbol_name":"制药","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2361575585","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2361575585","pubTimestamp":1692620100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Timber Pharmaceuticals nearly doubled in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Danish medical dermatology company LEO Pharma in a deal worth up to $36 million.The stock was recently up more than 96% to $2.79 in premarket trading.Timber, a Warren, N.J., company focused on orphan dermatologic diseases, said the deal includes initial consideration of $14 million, or $2.62 a share, in cash, a nearly 85% premium to Friday's closing price of $1.42.Timber said the transaction also includes contingent value rights worth up to an additional $22 million tied to milestones related to its TMB-001 drug candidate.The deal is slated to close by the end of the year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4007":"制药","LEO":"LEO市政债券基金"},"translate_title":"利奥制药收购木材制药公司股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LEO":1,"TMBR":1},"content_text":"By Colin Kellaher \n\n\n \n\n\n  Shares of Timber Pharmaceuticals nearly doubled in premarket trading Monday after the biopharmaceutical company agreed to be acquired by Danish medical dermatology company LEO Pharma in a deal worth up to $36 million. \n\n\n  The stock was recently up more than 96% to $2.79 in premarket trading. \n\n\n  Timber, a Warren, N.J., company focused on orphan dermatologic diseases, said the deal includes initial consideration of $14 million, or $2.62 a share, in cash, a nearly 85% premium to Friday's closing price of $1.42. \n\n\n  Timber said the transaction also includes contingent value rights worth up to an additional $22 million tied to milestones related to its TMB-001 drug candidate. \n\n\n  The deal is slated to close by the end of the year. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 21, 2023 08:15 ET (12:15 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}