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....

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Bankruptcy Scorecard

Summary

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

Capital Structure

Total Liabilities:

Between $1,000,000 and $10 million

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Related Sections

Case Information

Case Title

Trex Wind-down, Inc.

Case Number

1:23-bk-11878

Court

Delaware

Nature of Suit

Date Filed

November 17, 2023

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