MERGE NEWS!
BioPharmX Corporation Announces Approval of Merger by Stockholders at Special Meeting
PR Newswire PR Newswire•May 13, 2020
CAMPBELL, Calif., May 13, 2020 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX) ("BioPharmX") today announced that all proposals related to its proposed merger with Timber Pharmaceuticals LLC ("Timber") were approved by BioPharmX's stockholders at a special meeting held on May 13, 2020. The proposed merger remains subject to further customary closing conditions and regulatory approvals. BioPharmX and Timber expect the closing of the merger to occur on or about May 18, 2020.
(PRNewsfoto/BioPharmX Corporation)
(PRNewsfoto/BioPharmX Corporation)
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Upon closing of the transaction, the combined company will change its name to "Timber Pharmaceuticals, Inc." and it is anticipated that the shares will commence trading on the NYSE American market under the ticker symbol "TMBR." The officers and managers of Timber will assume leadership of the combined company with Michael Derby serving as Chairman and John Koconis as Chief Executive Officer.
Timber is a biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases. The combined company will have a robust pipeline including Timber's two Phase 2b programs and a preclinical program targeting multiple niche orphan indications with no approved treatments as well as BioPharmX's two Phase 3-ready topical minocycline programs. Following the closing of the merger, the combined company will evaluate BioPharmX's Phase 3-ready programs for a strategic partnership, co-development, or other non-dilutive value creation opportunities.
The final voting results for BioPharmX's special meeting of stockholders will be filed with the Securities and Exchange Commission (the "SEC") in a Form 8-K.
Where to find additional information about the Special Stockholders Meeting, the proposed merger and related matters
On February 20, 2020, BioPharmX filed a Registration Statement on Form S-4 with the SEC containing a prospectus and a proxy statement of BioPharmX concerning the proposed merger between BioPharmX and Timber. The registration statement was declared effective by the SEC on March 30, 2020 and the proxy statement describing the merger and related matters was mailed to BioPharmX stockholders on or about April 6, 2020. Subsequently, on April 27, 2020, BioPharmX filed a supplement to its proxy statement describing certain changes to the terms of the merger and related matters from that described in the original proxy statement. The supplement was mailed to BioPharmX stockholders on or about April 28, 2020.
INVESTORS AND SECURITY HOLDERS OF BIOPHARMX ARE URGED TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT BIOPHARMX, TIMBER, THE MERGER, AND RELATED MATTERS.
The proxy statement/prospectus, the supplement, and any other documents filed by BioPharmX with the SEC, may be obtained free of charge at the SEC website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by BioPharmX by directing a written request to: BioPharmX Corporation, 900 E. Hamilton Avenue, Suite 100, Campbell, CA 95008 or by downloading the materials from the Investor Page of the BioPharmX website, www.BioPharmX.com.
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