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Pear Therapeutics, Inc. (PEAR) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Pear Therapeutics, Inc.

CIK: 1835567 Ticker: PEAR
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Pear Therapeutics Reports First Quarter 2022 Financial Results

108% quarter-over-quarter revenue growth to $2.7 million
>9,200 total prescriptions in the first quarter for Pear’s three FDA-authorized products
Expanded patient access with state payors in Michigan and Oklahoma
CMS issued new HCPCS code
Pear's first 12-month and 24-month real-world health economic data presented at ISPOR


BOSTON – May 16, 2022 –
Pear Therapeutics, Inc. (Nasdaq: PEAR), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today reported financial results for its first quarter ended March 31, 2022.

“Our momentum in 2021 continued into 2022 with strong revenue and prescription volume growth in the first quarter,” said Corey McCann, M.D., Ph.D., President and Chief Executive Officer of Pear Therapeutics. “We continue to expand the reach of our products with advances such as the availability of reSET® and reSET-O® in Spanish, expansion into new states like Oklahoma and Michigan, and recognition from CMS via a HCPCS code establishing an important reimbursement milestone for PDTs. We also continue to advance our payor value proposition with 12-month and 24-month health economic data demonstrating durability of clinical outcomes and long-term reduction in healthcare resource utilization.”

First Quarter 2022 Financial and Operational Performance Metrics Results
First quarter revenue grew to $2.7 million, up from $1.3 million in Q4 2021, and compared with $376 thousand for the first quarter of 2021.
Net Revenue and Key Operating MetricsQ1 2022
Actual
Full Year 2022 Guidance
Net Revenue$2.7 million$22.0 million
Total Prescriptions1>9,20050,000-60,000
Fulfillment Rate257%50-65%
Payment Rate350%50-65%
Average Selling Price (ASP)4$1,353$1,150-$1,350




1 Total Prescriptions in a given period is (a) the imputed number of prescriptions based on revenue recognized under access agreements plus (b) the number of prescriptions written which are not imputed under access agreements.
2 Fulfillment Rate in a given period is (a) the number of prescriptions for which either a patient commences therapy or there is a contractual payment obligation and revenue has been recognized divided by (b) Total Prescriptions. (Total Prescriptions times Fulfillment Rate equals Fulfilled Prescriptions.)
3 Payment Rate in a given period is (a) the number of prescriptions for which the company receives payment divided by (b) Fulfilled Prescriptions. (Fulfilled Prescriptions times Payment Rate equals Paid Prescriptions.)
4 Average Selling Price, or ASP, in a given period is the average price received by the Company per script for which the Company receives payment.



The following information was filed by Pear Therapeutics, Inc. (PEAR) on Monday, May 16, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Pear Therapeutics, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Pear Therapeutics, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Consolidated Statements Of Financial Condition (Parenthetical)
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Operations And Comprehensive Loss
Unaudited Condensed Consolidated Statements Of Stockholders??? Equity
Unaudited Condensed Consolidated Statements Of Stockholders??? Equity (Parenthetical)
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Business Combination
Business Combination (Details)
Business Combination (Tables)
Business Combination - Schedule Of Reverse Capitalization (Details)
Business Combination - Warrants (Details)
Capital Stock
Capital Stock (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Fair Value (Details)
Fair Value Measurements - Level 3 Roll Forward (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Valuation Assumptions (Details)
Income Taxes
Indebtedness
Indebtedness (Tables)
Indebtedness - Future Minimum Payments Due (Details)
Indebtedness - Perceptive Credit Facility (Details)
Indebtedness - Schedule Of Debt (Details)
Lease - (Details)
Leases
Leases (Tables)
Leases - Asu Adoption (Details)
Leases - Maturity Table (Details)
Nature Of Business
Nature Of Business - Narrative (Details)
Nature Of Business - Organization (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Antidilituve Securities (Details)
Net Loss Per Share - Basic And Diluted Per Share (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Common Stock Options (Details)
Stock-Based Compensation - Espp (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Stock Units (Details)
Stock-Based Compensation - Stock Based Compensation Expense (Details)
Stock-Based Compensation - Valuation Assumptions (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents And Restricted Cash (Details)
Summary Of Significant Accounting Policies - New Accounting Pronouncements (Details)

Material Contracts, Statements, Certifications & more

Pear Therapeutics, Inc. provided additional information to their SEC Filing as exhibits

Ticker: PEAR
CIK: 1835567
Form Type: 10-Q Quarterly Report
Accession Number: 0001835567-22-000036
Submitted to the SEC: Mon May 16 2022 5:15:16 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Health Services

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