Fierce Biotech March 14, 2024
For better or for worse, digital treatment developer Better Therapeutics has announced it will wind down operations, lay off its employees and seek a buyer for its remaining assets.
The San Francisco-based company had also been facing removal of its shares from the Nasdaq; rather than present a plan to regain compliance with the stock market’s trading rules, Better Therapeutics’ board of directors this week opted to request that its securities be delisted.
The company originally went public through an April 2021 special purpose acquisition company deal, handing it a valuation of $187 million. Its stock price dropped about 80% on today’s news, from 20 cents down to about 3 cents.
The decision comes nearly one year after the company...
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