Pear Therapeutics received its second breakthrough device designation from the Food and Drug Administration for its reSET-A product candidate that is designed for the treatment of alcohol substance use disorder.
Pear Therapeutics, a developer of software-based medicines called prescription digital therapeutics, on Friday completed a merger with special purpose acquisition company Thimble Point Acquisition (THMA) and will begin trading Monday on Nasdaq under the PEAR ticker.
Thimble Point's stockholders on Nov. 30 voted to approve the business combination, which was earlier approved by Pear's shareholders.
The business combination generated about $175 million in gross proceeds, which Pear will use to further capitalize the company, it said in a Friday statement.
“My Pearmates and I are proud to continue our leadership in the creation of prescription digital therapeutics,” Pear's CEO Corey McCann said in a statement. “As a public company, we aim to accelerate our vision to increase access to PDTs by further commercializing our three FDA-authorized PDTs, expanding public and private payer adoption, and advancing our pipeline of PDTs. Thanks to all of our investors for supporting our successful transition.”
https://www.thestreet.com/investing/pear-therapeutics-stock-to-begin-trading-after-spac-merger
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