Skin Care Drug Co. Gets OK For Ch. 11 Wind-Down Plan
By Rick Archer · May 2, 2024, 1:13 PM EDT
A Delaware bankruptcy judge on Thursday said she would approve the unopposed and unanimously approved Chapter 11 wind-down plans of the company previously known as Timber Pharmaceuticals Inc....
A New Jersey-based business focused on producing treatments for rare skin diseases, Timber Pharmaceuticals filed for bankruptcy protection in November with $6.5 million in secured debt and about $1.5 million in trade debt, saying the company had run out of cash while its expected marquee product was still in Phase 3 clinical trials. On Feb. 15, the bankruptcy court approved the debtor's request to be renamed as Trex.
Case Number
23-11878
Judge
J. Kate Stickles
Venue
U.S. Bankruptcy Court for the District of Delaware