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Why Timber Pharmaceuticals, Inc. Common Stock Is Trading Higher Today

January 12, 2021 10:15 am
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Why Timber Pharmaceuticals, Inc. Common Stock Is Trading Higher Today

Timber Pharmaceuticals, Inc. Common Stock's Stock Price And Volume Action

Timber Pharmaceuticals, Inc. Common Stock's (AMEX:TMBR) stock has been rising Tuesday, up 11.7% to a price of $1.07. The stock's volume is currently 11.71 million, which is roughly 256.87% of its recent 30-day volume average of 4.56 million.

Why It's Moving

Benzinga Pro's real-time breaking news service shows some insight into what is affecting shares: Timber Pharmaceuticals shares are trading higher after the company on Monday received FDA orphan drug designation for Sitaxentan for the treatment of Systemic Sclerosis.

Insights On Recent Price Action

The stock's 50-day moving average was $0.95 at the time this article was published. Over the past fifty-two weeks, the price has risen as high as $5.69 and fallen to a low of $0.67.

Benzinga Pro provides investors with timely and accurate explanations of why a stock is moving. Subscribe to receive real-time alerts explaining stock price movements. Click here to learn more.

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