HC Wainwright Bullish On This Small Cap Stock As Enrollment Starts In Pivotal Skin Disease Trial

Earlier this month, Timber Pharmaceuticals Inc TMBR reported that the first four patients had been enrolled in the Phase 3 ASCEND study of TMB-001 (topical isotretinoin, 0.05%).
TMB-001 is under development for congenital ichthyosis (CI), a rare skin disorder characterized by dry, thickened, and scaling skin that affects around 80K people in the U.S.
In a Phase 2b trial, 100% of TMB-001-treated patients achieved a 50% reduction in the Visual Index for Ichthyosis Severity scaling score (VIIS-50) at week 12 vs. 40% in the placebo group.
Citing the side effects of oral isotretinoin, HC Wainwright views topical TMB-001 as a new standard of care (SOC) for CI treatment if the ASCEND study proves positive.
The analyst lowered the price target from $1.50 to $1 with a Buy rating, accounting for dilution from recent financing of $8 million.
HC Wainwright expects a straightforward path for TMB-001, given the agent’s validated mechanism of action and positive Phase 2b data, with the U.S. launch expected in 2025.
Price Action: TMBR shares are down 3.88% at $0.1141 on the last check Monday.