Pear Therapeutics Explores Sale, Other ‘Strategic Alternatives’

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

In a press release, the company said it had hired a financial advisor to explore actions that could “maximize shareholder value.” This includes potential sales, M&A, asset divestitures, licensing or other strategic transactions. It may also seek additional funding.

Without a deal, Pear said, it may need to reorganize, liquidate or undergo some other type of restructuring. In In a filing with the Securities and Exchange Commission, Pear withdrew its revenue and operating guidance for fiscal 2022 and 2023. It also won’t hold a fourth-quarter and full-year earnings call.

“There is no set timeline for this process and there can be no assurance that this process will result in the company completing a transaction or that any transaction, if completed, will be completed on attractive terms,” ​​the company said in a press release.


Pear offers prescription digital therapeutics for substance use disorder, opioid use disorder and insomnia. Pear received FDA De Novo clearance for its substance use product, reSET, in 2017.

Company: hit the public markets in late 2021 through a merger with a special-purpose acquisition firm, then a popular method of going public for digital health companies.

But the company’s stock price has has generally declined since then, and an October Rock Health report noted that publicly traded digital therapeutics players have underperformed other digital health companies.

In the third quarter, Pear reported $4.1 million in revenue and a $30.7 million net loss. The company also said it had approved more layoffs affecting 59 workers, or about 22% of Pear’s workforce, at the end of September. It previously laid off 25 workers over the summer.

Former Chief Commercial Officer of Tandzi, Julia Strandberg also recently left the company to lead health tech giant Philips’ connected care business.

Source link