Pear Therapeutics secures extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Aug. 7 – Pear Therapeutics, Inc. received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The court extended the exclusive plan filing period through Nov. 6 from Aug. 7 and the exclusive solicitation period through Jan. 2 from Oct. 4.

The company said that despite the progress the debtors have made, they require more time to review administrative claims and proofs of claims filed by the bar date before filing their Chapter 11 plan, and to address and seek resolution of an adversary proceeding, if possible.

Pear said it has started negotiations with counsel to purported WARN Act claimants and responded to the adversary proceeding started by those claimants by filing a motion to dismiss.

Boston-based Pear Therapeutics develops and commercializes software-based medicines called prescription digital therapeutics. The company filed bankruptcy on April 7 under Chapter 11 case number 23-10429.

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