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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.
Pear Therapeutics, a leader in prescription digital therapeutics, will participate in the Evercore ISI Fourth Annual HealthCONx Conference on December 1, 2021. CEO Corey McCann will engage in a virtual fireside chat at 8:50 a.m. ET. A live audio webcast will be accessible through their website, with a replay available for 30 days after the event. Pear's innovative PDTs aim to enhance patient outcomes and offer effective solutions across various therapeutic areas, including FDA-approved treatments for substance use and insomnia.
Pear Therapeutics has received Breakthrough Device Designation from the FDA for its digital therapeutic reSET-A, aimed at treating alcohol use disorder (AUD). This designation marks Pear's second such award, following reSET-O for opioid use disorder. Despite the significant public health burden of AUD, current treatment options are limited, with less than 2% of affected patients receiving medication. Pear's reSET-A has not yet received marketing authorization and is not available for sale in the U.S. The FDA's Breakthrough Devices Program aims to expedite regulatory processes for innovative treatments.
Pear Therapeutics is advancing its prescription digital therapeutics (PDTs) ahead of a business combination with Thimble Point Acquisition Corp (NASDAQ: THMA). The company has expanded payor reimbursement, with over 30 organizations providing access to its products, aiming for 30 million covered lives by year-end. Prescriptions for its PDTs reached approximately 10,500, with guidance of 12,500 by fiscal year-end. Pear's studies indicate significant clinical benefits, including reduced healthcare costs.
Thimble Point Acquisition Corp (NASDAQ: THMA) announced an increase in minimum gross proceeds from a PIPE financing to
Pear Therapeutics has announced that its prescription digital therapeutics (PDTs), reSET® and reSET-O®, will be covered by MassHealth, Massachusetts' Medicaid program, effective November 1, 2021. This marks a significant milestone as Massachusetts becomes the first state to provide comprehensive coverage for PDTs for all Medicaid patients. The therapies target substance use disorder and opioid use disorder, respectively, and do not require prior authorization for MassHealth patients. The move aims to enhance access to innovative addiction treatment through mobile platforms.
Pear Therapeutics, the leader in prescription digital therapeutics (PDTs), announces participation in the virtual BTIG Digital Health Forum on November 15. CEO Corey McCann will join a panel discussion titled “Setting the Pace: Commercializing Prescription Digital Therapeutics and Expanding the Pipeline” at 2:00 p.m. ET, moderated by Marie Thibault. Pear is known for pioneering FDA-approved PDTs such as reSET, reSET-O, and Somryst. These products aim to redefine treatment approaches in various therapeutic areas, enhancing patient outcomes and clinician engagement.
Thimble Point Acquisition Corp. (Nasdaq: THMA) has scheduled a special shareholder meeting on
Pear Therapeutics has entered into a definitive business combination agreement with Thimble Point Acquisition Corp. (THMA) to create Pear Holdings Corp., valued at approximately $1.6 billion. The deal will provide Pear with around $450 million in net cash, including $400 million from Thimble Point's trust and a $125 million PIPE. Pear is a leader in prescription digital therapeutics, having developed the first three FDA-authorized PDTs. The transaction is expected to close in the second half of 2021, subject to shareholder approval.
Thimble Point Acquisition Corp. priced its upsized IPO at $10.00 per unit, offering 24,000,000 units set to trade on NASDAQ under the symbol “THMAU” from February 2, 2021. Each unit includes one share of Class A common stock and one-third of a warrant, with a full warrant costing $11.50 per share. The closing is anticipated on February 4, 2021. The company targets high-growth software and tech firms, backed by the Pritzker Vlock Family Office and LaunchCapital. A forward purchase agreement for $50 million with KLP SPAC 1 LLC is also in place. Citigroup and Credit Suisse are joint bookrunners of the offering.
