Pear Therapeutics said it is exploring “strategic alternatives” and may need to restructure or fold if its efforts fail.
The digital therapeutics company is seeking a potential sale, merger, acquisition, divestiture of assets, licensing agreement or other strategic transactions, or additional financing, it said in a Friday filing with the Securities and Exchange Commission. Without outside financial help, Pear said it may need to liquidate or restructure, Digital Health reports.
A spokesperson for the company declined comment.
Pear Therapeutics withdrew its revenue and operating guidance for fiscal 2022 and 2023. The company said it will not hold fourth quarter and full year 2022 earnings conference calls.
Pear Therapeutics went public in December 2021 in a $1.6 billion deal with thimble point Acquisition. It has seen its share price go from a high of trading at $5.22 per share to penny stock value, hovering around 49 cents a share. Read more.
Source: Pear Therapeutics Seeking a Financial Lifeline