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Why Timber Pharmaceuticals Shares Are Getting Hammered

Benzinga Real-time News · Oct 3, 2022 11:24

Timber Pharmaceuticals Inc (NASDAQ:TMBR) shares are trading lower by 20.09% to $0.09 Monday morning after the company announced a $1.3 million registered direct offering.

What Else?

The closing of the offerings is expected to occur on or about October 3rd, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds from the offerings for working capital and general corporate purposes.

See Also: This Solar Company's 5-Year Return Beats Tesla, Bitcoin, Ethereum, Ford, Apple, Microsoft And Amazon

According to data from Benzinga Pro, Timber Pharmaceuticals has a 52-week high of $0.93 and a 52-week low of $0.08.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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