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Better Therapeutics, a prescription digital therapeutics company, will present at Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference on September 14-15, 2021. The conference, focused on growth companies, will feature executives from over 100 publicly traded firms meeting institutional investors. Better Therapeutics aims to combat cardiometabolic diseases through cognitive behavioral therapy facilitated by its proprietary digital platform. The company is in the process of merging with Mountain Crest Acquisition Corp. II (NASDAQ: MCAD) to further its mission.
Better Therapeutics, a prescription digital therapeutics company, updates on its merger with Mountain Crest Acquisition Corp. II (NASDAQ: MCAD). The pivotal trial for its product BT-001 in treating type 2 diabetes is nearing full enrollment, aiming for FDA marketing authorization post-trial. Additional clinical developments for BT-002 and BT-003 in hypertension and hyperlipidemia are on track, with pivotal studies set for 2022. A cash position of up to
Better Therapeutics has secured a loan facility of up to
Better Therapeutics, in collaboration with Catalyst Health Network, has launched an open-label study to assess the effectiveness of BT-001, a digital therapeutic aimed at treating type 2 diabetes. This study will involve about 250 patients, focusing on healthcare utilization and quality of life changes over at least one year. BT-001 utilizes cognitive behavioral therapy to target behavioral causes of the disease. The results from this study could contribute to the regulatory submission for marketing authorization from the FDA, enhancing availability for primary care providers.
On March 15, 2021, Mountain Crest Acquisition Corp. II (NASDAQ: MCADU) announced that holders of its units can begin trading the common stock and rights separately from March 17, 2021. The common stock and rights will be traded under the symbols MCAD and MCADR, respectively, while units will continue to trade under MCADU. This change allows for greater flexibility for investors as the company prepares for a future merger or acquisition, focusing on opportunities in North America.
On January 14, 2021, Mountain Crest Acquisition Corp. II (NASDAQ: MCADU) announced the full exercise of its underwriters' over-allotment option, resulting in the purchase of 750,000 units for $7.5 million. This brings the total number of units issued to 5,750,000, generating total gross proceeds of $57.5 million from the IPO.
Units began trading on NASDAQ on January 8, 2021, with separate listings for common stock (MCAD) and rights (MCADR) anticipated. The registration statement was declared effective by the SEC on January 7, 2021.
Mountain Crest Acquisition Corp. II (NASDAQ: MCADU) successfully closed its IPO of 5,000,000 units at $10.00 each on January 12, 2021. This public offering, which started trading on NASDAQ on January 8, 2021, includes shares of common stock and rights. The underwriters also received a 45-day option to purchase up to 750,000 additional units. A registration statement was declared effective on January 7, 2021, and details can be accessed on the SEC's website. The company aims to pursue mergers or acquisitions with businesses, focusing on North America.
Mountain Crest Acquisition Corp. II (NASDAQ: MCADU) has announced the pricing of its initial public offering (IPO) at $10.00 per unit, totaling 5,000,000 units. The shares will begin trading on NASDAQ under the symbol "MCADU" starting January 8, 2021. Each unit comprises one share of common stock and a right to receive one-tenth of a share upon the completion of an initial business combination. The offering is projected to close on January 12, 2021, and the underwriters hold a 45-day option for an additional 750,000 units. The registration statement became effective on January 7, 2021.
