Pear Therapeutics shares soared 75% in premarket trading.
Prescription digital therapeutics company Pear Therapeutics began trading on Nasdaq Monday after wrapping up its merger with special-purpose acquisition company Thimble Point Acquisition Corp. last week.
The business combination brought in about $175 million, which the company said will be used to capitalize its digital therapeutic products. It's trading under the ticker symbol PEAR.
"My Pearmates and I are proud to continue our leadership in the creation of prescription digital therapeutics," Pear President and CEO Dr. Corey McCann said in a statement. "As a public company, we aim to accelerate our vision to increase access to PDTs [prescription digital therapeutics] by further commercializing our three FDA-authorized PDTs, expanding public and private payer adoption, and advancing our pipeline of PDTs. Thanks to all of our investors for supporting our successful transition."