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Pear Therapeutics, Inc. (PEAR) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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Pear Therapeutics, Inc.

CIK: 1835567 Ticker: PEAR
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Pear Therapeutics Reports Second Quarter 2022 Results

20% quarter-over-quarter revenue growth to $3.3 million
Recent real-world health economic data for all three of Pear’s commercial products show cost-savings1-3
Recent commercial formulary additions for reSET® and reSET-O®

BOSTON – August 11, 2022 –
Pear Therapeutics, Inc. (Nasdaq: PEAR), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today reported results for its second quarter ended June 30, 2022.

“Pear continues to make significant progress in introducing PDTs as an innovative class of medicine,” said Corey McCann, M.D., Ph.D., President and Chief Executive Officer of Pear Therapeutics. “We believe our evidence generation strategy is demonstrating that our products increase access, improve outcomes, and deliver value for patients, providers, and payors. We are narrowing our focus on near-term commercial execution and making the necessary resource decisions to position Pear to deliver long-term shareholder value.”

Second Quarter 2022 Financial and Operational Performance Metrics Results
Second quarter revenue grew to $3.3 million, up from $2.7 million in Q1 2022, and compared with $1.2 million for the second quarter of 2021.
Net Revenue and
Key Operating Metrics*
Q2 2022
Actual
Updated Full Year 2022 Guidance
Net Revenue$3.3 million$14-$16 million
Total Prescriptions11,000+35,000-45,000
Fulfillment Rate56%50-65%
Payment Rate45%50-65%
Average Selling Price (ASP)$1,323$1,150-$1,350
*Definitions for Net Revenue, Total Prescriptions, Fulfillment Rate, Payment Rate, and ASP can be found in the current Form 10-Q.

Second Quarter 2022 Business and Strategic Highlights

Patient Access
We announced a program to offer patients seeking treatment for substance use disorder (SUD) or opioid use disorder (OUD) access to select telehealth providers through our “find a provider” tool, along with in-person care options. Pear’s first telehealth offering included in this program is with PursueCare, a leading telehealth addiction treatment provider with a digital health model for SUD and OUD treatment.

We announced QuickMD, a telemedicine platform providing consultations and urgent care over phone and video, as the second telehealth provider available via our “find a provider” tool.

Market Access
We expanded the number of states providing patients access to FDA-authorized PDTs for the treatment of SUD and OUD to eight with the additions of a Midwestern state and a Southeastern state.



The following information was filed by Pear Therapeutics, Inc. (PEAR) on Thursday, August 11, 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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Pear Therapeutics, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
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  • Salaries, Bonuses, Perks
  • Peers / Competitors

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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
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (Parenthetical)
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Operations And Comprehensive Income (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 - Maturity Table (Details)
Leases - Operating Leases (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 - Antidilutive Securities (Details)
Net Loss Per Share - Basic And Diluted Per Share (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Restructuring Charges
Restructuring Charges (Details)
Revenue And Contract Balances
Revenue And Contract Balances (Details)
Revenue And Contract Balances (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: 0001835567-22-000076
Submitted to the SEC: Mon Nov 14 2022 5:19:51 PM EST
Accepted by the SEC: Mon Nov 14 2022
Period: Friday, September 30, 2022
Industry: Health Services

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