Pear Therapeutics exploring sale, other ‘strategic alternatives’

Prescription digital therapeutics company Pear Therapeutics is exploring “strategic alternatives,” including a possible company sale, merger or acquisition. 

In a press release, the company said it hired a financial advisor to look into actions that could “maximize shareholder value.” That includes a potential sale, M&A, divestiture of assets, licensing or other strategic transactions. It may also seek additional financing. 

Without a transaction, Pear said it may need to reorganize, liquidate or pursue other types of restructuring. In a filing with the Securities and Exchange Commission, Pear withdrew its revenue and operating guidance for fiscal 2022 and 2023. It also won’t hold a fourth quarter and full year earnings call. 

“There is no set timetable for this process and there can be no assurance that this process will result in the company pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms,” the company said in a press statement. 


Pear offers prescription digital therapeutics for substance use disorder, opioid use disorder and insomnia. Pear received FDA De Novo clearance for its substance use product, reSET, in 2017. 

The company hit the public markets in late 2021 through a merger with a special purpose acquisition company, then a popular method of public exit for digital health firms.

But the company’s stock price has generally declined since then, and an October Rock Health report noted publicly traded digital therapeutics players have underperformed compared with other digital health companies. 

In the third quarter, Pear reported $4.1 million in revenue and a $30.7 million net loss. The company also said it had approved more layoffs, affecting 59 employees, or about 22% of Pear’s workforce at the end of September. It had previously laid off 25 workers over the summer. 

Pear’s former chief commercial officer, Julia Strandberg, also recently left the company to head up health tech giant Philips’ connected care business. 



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