Puretech Health - PRTC STOCK NEWS

PureTech Health plc announced that Matt Franklin will join Akili Interactive Labs as President and Chief Operating Officer on June 21, 2022. Franklin, a life sciences expert with over 20 years of experience, has previously held significant roles at Exact Sciences, Thrive Earlier Detection Corp, and Foundation Medicine. His appointment aims to drive Akili's growth and prepare for the commercialization of its cognitive treatment product, EndeavorRx®, focusing on enhancing operational efficiency and strategic marketing.

PureTech Health (Nasdaq: PRTC, LSE: PRTC) announced participation in a fireside chat at the Jefferies Healthcare Conference on June 9, 2022, at 9:30 AM EDT in New York City. Presenters include Bharatt Chowrira, Ph.D., J.D., and Julie Krop, M.D. The discussion will cover the company’s innovative approaches to treating serious diseases, supported by a robust pipeline of 27 therapeutic candidates. A webcast of the presentation will be available through their investor website.

PureTech Health, in partnership with Roblox, aims to enhance patient experiences through innovative digital solutions. The collaboration introduces a Roblox rewards exchange linked to Akili’s EndeavorRx, the first FDA-cleared prescription video game for children with ADHD. This partnership seeks to integrate cognitive treatments into daily life, leveraging Roblox's vast user base of over 55 million players. Both companies focus on redefining patient engagement and improving cognitive health through interactive experiences.

PureTech Health (Nasdaq: PRTC, LSE: PRTC) announced new findings from its Founded Entity, Vedanta Biosciences, at the Digestive Disease Week 2022. Key data from the VE303 Phase 2 CONSORTIUM study showed VE303 effectively prevented Clostridioides difficile infection recurrence in high-risk patients, achieving a 31.7% absolute risk reduction. The VE303 high-dose group noted an 80% reduction in recurrence odds. Additionally, safety analyses of VE202 and VE818 indicated robust colonization and increased production of beneficial bile acids. These insights pave the way for future clinical trials.

Vedanta Biosciences presented key findings from multiple clinical studies on their defined bacterial consortia at Digestive Disease Week 2022. The Phase 2 CONSORTIUM study showed that VE303 significantly reduced recurrent Clostridioides difficile infections, achieving a 31.7% absolute risk reduction compared to placebo. Further analysis indicated that higher doses resulted in improved strain colonization and lower recurrence rates. Additionally, safety results for VE202 and VE818 from Phase 1 studies were promising, showing good tolerability and effective colonization in healthy volunteers.

PureTech Health plc (LSE:PRTC, Nasdaq:PRTC) has announced that CFO George Farmer, Ph.D., will present at the UBS Global Healthcare Conference on May 24, 2022, at 10:45am EDT. The presentation will be available via webcast on the company's investor relations website. PureTech is focused on developing biotherapeutics for serious diseases and has a pipeline of 27 therapeutics, including two with FDA clearance and European marketing authorization. The company emphasizes innovation in immunology and drug development.

PureTech Health presented new data on LYT-100 at the American Thoracic Society 2022 International Conference, highlighting its improved tolerability profile compared to pirfenidone. The Phase 1 study showed a 38% reduction in adverse events with LYT-100 in healthy older adults. This data supports upcoming registration studies in idiopathic pulmonary fibrosis (IPF), with topline results expected by the end of 2023. Using a 505(b)(2) pathway, PureTech aims to evaluate higher doses to enhance efficacy while retaining safety profiles.

PureTech Health has initiated a $50 million share buyback program, beginning with purchases of ordinary shares up to $25 million. This program aligns with the company's capital allocation strategy aimed at balancing business growth with returning capital to shareholders. Conducted in two tranches, the first will run from May 9, 2022 to May 8, 2023, with a cap of 28,589,874 shares. The buyback serves to bolster shareholder value and fulfill obligations related to employee share options.

PureTech Health has announced a share buyback program of up to $50 million as part of its strategy to enhance shareholder value. Following consultations with shareholders, the company aims to utilize its strong cash reserves, which stood at $413.2 million as of March 31, 2022. The buyback will be limited to $50 million or 28,589,875 shares and will be conducted through open market purchases. This program is aligned with its previous guidance into the first quarter of 2025.