Is Time Nearly Up For Pear? The PDT Company Could Be Bargain For Acquirer
Despite earlier efforts to restructure, the company is still struggling to meet its revenue targets, and issued a statement suggesting that further measures, including liquidation, may be necessary.
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Pear Therapeutics filed for Chapter 11 bankruptcy in April and sold its remaining assets in an auction for about $6m. The demise of one the pioneers in the prescription digital therapeutics industry highlights the challenges PDT developers face getting their products reimbursed.
A few weeks after announcing that it was exploring its "strategic options," Pear Therapeutics announced that it is filing for bankruptcy and is not filling new prescriptions for its digital therapeutics.
The Silicon Valley Bank shutdown was a shock but is not likely to harm the biopharma financial ecosystem long term. The bigger near- to mid-term factor is inflation due to its impact on interest rates.