Microcap Timber Pharmaceuticals up 46% on orphan drug designation for skin disorder drug
Feb. 24, 2023 1:28 PM ETTimber Pharmaceuticals, Inc. (TMBR)By: Jonathan Block, SA News Editor1 Comment
Satjawat Boontanataweepol/iStock via Getty Images
- The European Commission has granted orphan drug designation to TMB-001, a phase 1 candidate from Timber Pharmaceuticals (NYSE:TMBR) for X-linked recessive ichthyosis (XLRI), a rare genetic skin disorder.
- The stock is up 46% in Friday afternoon trading.
- TMB-001 is topical isotretinoin, made using the patented IPEG delivery system.
- The condition is characterized by very dry skin that can be dark brown or light grey that is scaling.
- TMB-001 also has orphan drug designation for autosomal recessive congenital ichthyosis (ARCI).
- Seeking Alpha's Quant Rating considers Timber (TMBR) a strong sell.