Medtech layoffs are picking up as 2024 draws to a close. Sean Whooley, Associate Editor, and Chris Newmarker, Editor-in-Chief The medical device industry is closing out the year with a fresh round of layoffs. At this point, MassDevice has reported on more than 22,000 medtech job cuts across the industry since mid-2022. (Have a tip […]
Pear Therapeutics
How did medtech SPAC mergers fare?
Over the past few years, special purpose acquisition corporations (SPACs) have found their way into the medtech space. These businesses — built to bring private companies public — raise initial public offerings (IPOs). They then go and acquire existing companies, taking them public in the process. The value of these mergers varies, but some in […]
Pear Therapeutics files for Chapter 11 bankruptcy
Pear Therapeutics (Nasdaq:PEAR) announced today that it filed for protection under Chapter 11 of the U.S. Bankruptcy Code. Boston-based Pear and its wholly-owned U.S. subsidiary each voluntarily filed in the U.S. Bankruptcy Court for the District of Delaware. They intend to pursue a sale of the business or assets under section 363 of the Bankruptcy Code. […]
Pear Therapeutics stock sinks as it may look for a sale or merger
Pear Therapeutics (Nasdaq:PEAR) announced today that it engaged in a process to explore strategic alternatives to maximize shareholder value. Shares of PEAR fell more than 30%to 41¢ apeice in midday trading on the back of the news. MassDevice‘s MedTech 100 index, which includes stocks of the world’s largest medical device companies, was up slightly. Boston-based […]
Pear Therapeutics posts mixed bag Q3, cuts 22% of workforce
Pear Therapeutics (Nasdaq:PEAR) stock is down today — a day after it reported mixed third-quarter results. The Boston-based prescription digital therapeutic (PDT) developer also announced a large set of layoffs yesterday evening. The new layoffs follow a previous workforce reduction announced over the summer. Shares of PEAR were down more than 3% at $2.44 apiece […]
Real-world data backs digital therapeutic for substance use disorder from Pear Therapeutics
Pear Therapeutics (Nasdaq:PEAR) announced positive data supporting its reSET prescription digital therapeutic (PDT). Boston-based Pear designed FDA-authorized reSET for the treatment of substance use disorder (SUD). That includes alcohol, cannabis, cocaine, and stimulants like methamphetamines. The real-world study demonstrated high rates of engagement, retention and abstinence from substances with reSET through 12 weeks. The American […]
What does the future hold for AI in medical devices?
Digital health, artificial intelligence (AI), machine learning and more — these concepts continue to generate buzz in the medtech world. Last month, the FDA published guidance on clinical decision support (CDS) software. It helped to clear up what constitutes a medical device and what doesn’t. Early last year, the agency published a predetermined change control […]
Pear Therapeutics announces layoffs
Prescription digital therapeutics company Pear Therapeutics (Nasdaq:PEAR) announced today that it is letting go of roughly 25 employees, representing 9% of its workforce. The layoffs are part of an overall operations restructuring that the Boston-based company said will “narrow its near-term business focus and reduce its workforce due to the macroeconomic environment,” according to an […]
Data backs Pear Therapeutics digital therapeutic for opioid use disorder
Pear Therapeutics (Nasdaq:PEAR) today shared real-world data highlighting low costs with its reSET-O prescription digital therapeutic (PDT). Boston-based Pear Therapeutics’ reSET-O represents the only FDA-authorized PDT for the treatment of opioid use disorder (OUD). Get the full story at our sister site, Drug Delivery Business News.
Pear Therapeutics reports positive real-world data for chronic insomnia treatment
Pear Therapeutics (Nasdaq:PEAR) today announced real-world data from a trial of its Somryst prescription digital therapeutic (PDT). Data showed that Somryst, the only FDA-authorized PDT for treating chronic insomnia, achieved significant reductions in symptoms of insomnia, anxiety and depression severity both immediately following treatment and at six-months follow-up. Get the full story at our sister site, […]
Digital therapeutics open up new opportunities in medicine
A wide range of companies are aiming to make waves through digital therapeutic offerings, and each is doing things differently. “We are seeing tremendous momentum for the DTx industry, with more and more products coming to market and gaining commercial coverage and recent signals from the White House and Congress demonstrating their interest and recognition […]
