By Dean SealPear Therapeutics Inc. said Friday that it is exploring strategic alternatives, including a potential sale. The developer of prescription digital therapeutics has engaged with the boutique investment bank MTS Health Partners LP as it weighs a possible acquisition, merger, divestiture or some other option that would maximize shareholder value. Pear said there is no timetable for the process and no assurance that it will pursue a transaction. If the company is unable to complete a transaction, it may be required to reorganize, liquidate or other restructure, Pear said. The Boston-based company said last fall that it would cut about 22% of its workforce to extend its cash runway and reduce its reliance on financing.

Source: Wall Street Journal March 18, 2023 00:22 UTC