Pear Therapeutics Considers Sale, Other “Strategic Alternatives” -Dlight News

Pear Therapeutics Considers Sale, Other

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

In a press release, the company said it had hired a financial advisor to review actions that could “maximize shareholder value.” These include a potential sale, merger and acquisition, asset divestiture, licensing or other strategic transaction. It can also apply for additional funding.

Without a transaction, Pear said, it may have to reorganize, liquidate, or pursue other types of restructuring. in one Filing with the Securities and Exchange CommissionPear withdrew its revenue and operating guidance for fiscal years 2022 and 2023. It also will not hold a conference call on fourth-quarter and full-year results.

“There is no firm timeline for this process and there can be no assurance that this process will result in the Company pursuing a transaction or that a transaction, if prosecuted, will be completed on attractive terms,” ​​the company said in a press statement.


Pear offers prescription digital therapeutics for substance use disorders, opioid use disorders, and insomnia. Pear received FDA de novo approval for its substance use product reSET in 2017.

The company Coming to the public market in late 2021 through a merger with a special purpose vehicle, a popular method of public exit for digital healthcare companies at the time.

But the company’s share price has basically rejected since and one October Rock Health Report Well-known publicly traded digital therapeutics providers have underperformed compared to other digital healthcare companies.

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

Pear’s former Chief Commercial Officer, Julia Strandbergrecently left the company to lead the connected care business of health tech giant Philips.

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