Pear Therapeutics loses 97% of its market capitalization since 2021, explores strategic options

Supply: Google Finance

Pear Ther­a­peu­tics explor­ing sale, oth­er ‘strate­gic alter­na­tives’ (Mobi­Well being Information):

Pre­scrip­tion dig­i­tal ther­a­peu­tics com­pa­ny Pear Ther­a­peu­tics is explor­ing “strate­gic alter­na­tives,” includ­ing a pos­si­ble com­pa­ny sale, merg­er or acquisition.

In a press launch, the com­pa­ny mentioned it employed a finan­cial advi­sor to look into actions that might “max­i­mize share­maintain­er val­ue.” That features a poten­tial sale, M&A, divesti­ture of belongings, licens­ing or oth­er strate­gic trans­ac­tions. It might additionally search addi­tion­al financing.

The com­pa­ny hit the pub­lic mar­kets in late 2021 by way of a merg­er with a spe­cial pur­pose acqui­si­tion com­pa­ny, then a pop­u­lar methodology of pub­lic exit for dig­i­tal well being corporations … Within the third quar­ter, Pear report­ed $4.1 mil­lion in rev­enue and a $30.7 mil­lion web loss. The com­pa­ny additionally mentioned it had authorised extra lay­offs, have an effect on­ing 59 make use of­ees, or about 22% of Pear’s work­power on the finish of Sep­tem­ber. It had pre­vi­ous­ly laid off 25 work­ers over the summer season.

The Announcement:

Pear Ther­a­peu­tics Announces Process Explor­ing Strate­gic Alter­na­tives (press launch):

Pear Ther­a­peu­tics, Inc. (Nas­daq: PEAR) (“the Com­pa­ny”), the chief in devel­op­ing and com­mer­cial­iz­ing comfortable­ware-based med­i­cines known as pre­scrip­tion dig­i­tal ther­a­peu­tics (PDTs), in the present day introduced that it’s engaged in a course of to discover strate­gic alter­na­tives to max­i­mize share­maintain­er val­ue. The Com­pa­ny has engaged MTS Well being Half­ners, L.P. to behave because the Firm’s exclu­sive finan­cial advi­sor to help in eval­u­at­ing poten­tial alter­na­tives. MTS Well being Half­ners is a lead­ing bou­tique make investments­ment financial institution that professional­vides strate­gic and finan­cial recommendation to the well being­care indus­attempt … The Com­pa­ny doesn’t anticipate to dis­shut or professional­vide an replace con­cern­ing devel­op­ments relat­ed to this course of except or till the Firm’s Board of Direc­tors has authorised a defin­i­tive plan of action or oth­er­sensible deter­mines that oth­er dis­clo­certain is nec­es­sary or acceptable.

Information in Context: