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 enlisted MTS Health Partners to act as its exclusive financial advisor in evaluating potential alternatives. MTS Health Partners provides strategic and financial advice to the healthcare industry.
According to a news release, Pear’s effort could include seeking out a range of options, including an acquisition or company sale. Other options include a merger, divestiture of assets, licensing or other strategic transactions. Pear may also seek additional financing.
The company set no timetable for the process. It said in a news release that it can’t make assurance…