Pear Therapeutics, SoftBank Team On Sleep/Wake Disorder Therapeutic For Japanese Market

Pear Therapeutics Inc PEAR has agreed with SoftBank Group Corp SFTBY to develop a Japanese-language digital therapeutic for sleep/wake disorders for the Japanese market.
In the U.S., Pear is marketing Somryst, the only FDA-authorized prescription digital therapeutics for treating chronic insomnia.
This strategic initiative is a part of Pear's strategy to commercialize digital therapeutics in international markets.
Related: Pear Therapeutics' Digital Therapeutic For Insomnia Shows Meaningful Reductions In Severity Through 6 Months.
Under the agreement, Pear will develop digital therapeutic applications for sleep/wake disorders for the Japanese market, and SoftBank will investigate the Japanese market potential for those applications.
SoftBank has an option to negotiate an exclusive license for Pear's digital therapeutics for sleep/wake disorders in Japan.
Read Why BTIG Sees An Upside OF 55% In Pear Therapeutics.
Price Action: PEAR shares are up 6.76% at $4.74 during the market session on the last check Monday.