BETTER THERAPEUTICS INC Stock Price, News & Analysis

Better Therapeutics, Inc. (NASDAQ: BTTX) announced a private placement of 7,878,786 shares of its common stock at $0.825 per share, raising approximately $6.5 million prior to expenses. Key personnel, including certain officers and directors, actively participated in this financing, which is set to close around April 10, 2023. The funds will support critical milestones, including extending the runway for potential FDA marketing authorization of BT-001, a digital therapy aimed at treating T2D through cognitive behavioral therapy. This private placement is part of a broader three-tiered strategy discussed in the latest earnings call. The company plans to file a resale registration statement with the SEC for the shares issued in the offering.

Better Therapeutics, Inc. (NASDAQ: BTTX) reported positive developments, including the FDA's acceptance of its de novo classification request for BT-001, aimed at treating type 2 diabetes. In December 2022, the company also announced encouraging topline results from an exploratory trial for fatty liver disease showing a 16% reduction in MRI-PDFF. To extend its financial runway, Better Therapeutics implemented a restructuring plan affecting 35% of its workforce. The company anticipates a commercial launch of BT-001 in mid-2023 and aims to submit a Breakthrough Device Designation application for its digital therapeutics targeting NAFLD and NASH.

Better Therapeutics, Inc. (NASDAQ: BTTX) will release its fourth quarter and full year 2022 financial results before market opening on March 30, 2023. The company develops prescription digital therapeutics focused on cognitive behavioral therapy to treat cardiometabolic diseases. Management will hold a conference call at 8:30 a.m. ET the same day to discuss business updates. Better Therapeutics aims to provide clinically validated mobile applications that can be prescribed by physicians, potentially improving patient outcomes while lowering healthcare costs. For future access, participants can register for the call via the provided link.

Better Therapeutics, Inc. (NASDAQ: BTTX), a leader in prescription digital therapeutics, is set to participate in two significant investor conferences in February and March 2023. The first event is the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference in Snowbird, UT on February 14-15, followed by the Cowen 43rd Annual Health Care Conference in Boston, MA on March 6, where the company will present at 11:10 a.m. ET. Better Therapeutics develops innovative cognitive behavioral therapy solutions aimed at addressing cardiometabolic diseases, focusing on long-term behavioral changes. A webcast of the Cowen presentation will be available for 30 days after the event on their website.

Better Therapeutics, Inc. (NASDAQ: BTTX) announced positive topline results from the LivVita study, showcasing the efficacy of their prescription digital therapy for patients with Nonalcoholic Fatty Liver Disease (NAFLD) and Nonalcoholic Steatohepatitis (NASH).

The study achieved its primary endpoint with a 16% reduction in liver fat and significant improvements in liver enzyme levels (ALT down 17 IU/L). High patient satisfaction and engagement were noted, with a Net Promoter Score of +75. Given the lack of FDA-approved treatments for these conditions, the company plans to apply for Breakthrough Device Designation with the FDA, aiming to advance its digital therapeutic solutions.