Timber Pharmaceuticals Stockholders Don't Approve Sale to LEO Pharma

marketwatch2023-11-18

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

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