Pear Therapeutics (NASDAQ: PEAR) announced the acquisition and licensing of two digital therapeutic assets for treating a spectrum of depression conditions. The new assets aim to enhance Pear's prescription digital therapeutics (PDT) pipeline by addressing mild to severe depression and treatment-resistant cases. Integration of these assets will require clinical evaluation and a potential pivotal trial for FDA submission. With over 19 million U.S. patients affected by depression, the company is strategically positioning itself in a significant market, which has grown due to heightened mental health issues during the COVID-19 pandemic.
Pear Therapeutics, Inc. (NASDAQ: PEAR) expands its digital therapeutic (PDT) initiative with Crossroads to include Kentucky, New Jersey, and Virginia, enhancing access for patients with substance use disorder (SUD) and opioid use disorder (OUD). This extension builds on previous implementations in Pennsylvania, signifying a collaborative effort to combat the addiction crisis. Pear's PDTs, reSET® and reSET-O®, aim to provide 24/7 cognitive behavioral therapy, potentially benefiting thousands of additional patients monthly. The shared commitment reflects both companies' dedication to innovative treatment options amid a rising addiction crisis.
Pear Therapeutics has successfully completed its business combination with Thimble Point Acquisition Corp, becoming publicly traded on Nasdaq under the ticker symbol PEAR starting December 6, 2021. The transaction generated approximately $175 million in gross proceeds, which will be used to enhance Pear's position as a leader in prescription digital therapeutics (PDTs). The company aims to further commercialize its FDA-authorized PDTs and expand payer adoption. Shareholder approval for the transaction was received on November 30, 2021.