Pear Therapeutics exploring sale, different ‘strategic alternate options’

Prescription digital therapeutics firm Pear Therapeutics is exploring “strategic alternate options,” together with a potential firm sale, merger or acquisition. 

In a press launch, the corporate stated it employed a monetary advisor to look into actions that would “maximize shareholder worth.” That features a potential sale, M&A, divestiture of belongings, licensing or different strategic transactions. It might additionally search extra financing. 

With no transaction, Pear stated it could must reorganize, liquidate or pursue different sorts of restructuring. In a filing with the Securities and Exchange Commission, Pear withdrew its income and working steering for fiscal 2022 and 2023. It additionally will not maintain a fourth quarter and full yr earnings name. 

“There isn’t a set timetable for this course of and there could be no assurance that this course of will end result within the firm pursuing a transaction or that any transaction, if pursued, might be accomplished on enticing phrases,” the corporate stated in a press assertion. 


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

The corporate hit the public markets in late 2021 by means of a merger with a particular goal acquisition firm, then a preferred methodology of public exit for digital well being corporations.

However the firm’s inventory worth has generally declined since then, and an October Rock Health report famous publicly traded digital therapeutics gamers have underperformed in contrast with different digital well being corporations. 

Within the third quarter, Pear reported $4.1 million in income and a $30.7 million net loss. The corporate additionally stated it had accepted extra layoffs, affecting 59 employees, or about 22% of Pear’s workforce on the finish of September. It had beforehand laid off 25 employees over the summer time. 

Pear’s former chief industrial officer, Julia Strandberg, additionally just lately left the corporate to go up well being tech big Philips’ related care enterprise. 

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