Timber Pharmaceuticals Announces Proposed Public Offering

Basking Ridge, NJ – (NewMediaWire) – November 2, 2021 – Timber Pharmaceuticals, Inc.
(“Timber” or the “Company”) (NYSE American: TMBR), a biopharmaceutical company
focused on the development and commercialization of treatments for rare and
orphan dermatologic diseases, today announced that it intends to offer and sell
in an underwritten public offering, subject to market and other conditions,
shares of its common stock (or common stock equivalents). Each share of common
stock (or common stock equivalent) will be sold with a warrant to purchase one
share of common stock. The Company expects to grant the underwriter a 30-day
option to purchase additional shares of its common stock and/or warrants to
purchase shares of its common stock at the public offering price, less the
underwriting discounts and commissions. All of the shares of common stock (or
common stock equivalents) and warrants to be sold in the offering are to be
offered by Timber. The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be completed,
or the actual size or terms of the offering.

H.C. Wainwright &
Co. is acting as the sole book-running manager for the proposed offering.

Timber intends to use
the net proceeds from the proposed offering for general corporate purposes,
including, but not limited to, ongoing research and pre-clinical studies,
clinical trials, the development of new biological and pharmaceutical
technologies, investing in or acquiring companies that are synergistic with or
complementary to the Company’s technologies, and licensing activities related
to the Company’s current and future product candidates and working capital.

A shelf registration
statement on Form S-3 (File No. 333-255743) relating to the securities being
offered was filed with the U.S. Securities and Exchange Commission (the “SEC”)
on May 4, 2021, and became effective on May 11, 2021.  The offering is being made only by means of a
prospectus supplement and accompanying prospectus that form a part of the shelf
registration statement.  A preliminary
prospectus supplement and accompanying prospectus relating to the offering will
be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus, and the final prospectus
supplement and accompanying prospectus relating to the offering when filed, may
also be obtained from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by email
at placements@hcwco.com or by phone at (212) 856-5711.  Before you invest,
you should read the preliminary prospectus supplement and accompanying
prospectus and the other documents that Timber has filed with the SEC for more
complete information about Timber and the proposed offering.

This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.

About Timber Pharmaceuticals,


Timber Pharmaceuticals,
Inc. is a biopharmaceutical company focused on the development and
commercialization of treatments for rare and orphan dermatologic diseases. The
Company’s investigational therapies have proven mechanisms-of-action backed by
decades of clinical experience and well-established CMC (chemistry,
manufacturing and control) and safety profiles. The Company is initially
focused on developing non-systemic treatments for rare dermatologic diseases
including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous
sclerosis complex (TSC), and other sclerotic skin diseases. For more
information, visit www.timberpharma.com.




This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements pertaining to Timber’s
expectations regarding future financial and/or operating results, the proposed
public offering of Timber’s securities, including as to the size, timing and
consummation of the proposed offering described above and the use of net
proceeds therefrom, potential for our products and future revenues or growth in
this press release constitute forward-looking statements.


These statements may be
identified by the use of forward-looking expressions, including, but not
limited to, “expect,” “anticipate,” “intend,”
“plan,” “believe,” “estimate,” “potential,
“predict,” “project,” “should,” “would”
and similar expressions and the negatives of those terms. These statements
relate to future events or our financial performance and involve known and
unknown risks, uncertainties, and other factors, such as market and other
conditions, which may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors include
those set forth in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2020 as well as other documents filed by the Company from time to
time thereafter with the Securities and Exchange Commission. Prospective
investors are cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release. The Company
undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or otherwise, except as
required by law.


For more information, contact:


Pharmaceuticals, Inc. 

John Koconis 

Chairman and Chief Executive Officer



Investor Relations:

Stephanie Prince

PCG Advisory

(646) 863-6341



Media Relations:

Adam Daley

Berry & Company Public Relations

(212) 253-8881