Timber Pharma surges on FDA breakthrough therapy tag for skin disorder therapy

Trex Wind-Down

31/05/2022 13:45

** Shares of Timber Pharmaceuticals  TMBR.A  surge 54% to
$0.40 premarket, set to open at a two-month high if gains hold
    ** Stock among top pct gainers across U.S. exchanges
premarket
    ** TMBR says U.S. FDA has granted breakthrough therapy
designation to its drug candidate, TMB-001, for the treatment of
congenital ichthyosis, a group of skin disorders  urn:newsml:reuters.com:*:nGNX1WjTlF
    ** Company preparing to dose first patients in a late-stage
study of TMB-001
    ** Breakthrough therapy tag is meant to speed up development
and review of drugs to treat a serious condition
    ** Company's shares down 32.9% YTD, as of last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com))