Better Therapeutics triples a day after SPAC merger

Better Therapeutics

01/11/2021 16:58

** Better Therapeutics  BTTX.O  shares soar as much as 216%
to $29.40 on Mon, following volatility halt, a day after their
public listing
    ** BTTX started trading on Fri on the Nasdaq after co
completed business combination with SPAC Mountain Crest
Acquisition Corp II  urn:newsml:reuters.com:*:nBw67hgVba
    ** Deal provided BTTX with ~$70 mln to advance its lead
product for treatment of type 2 diabetes, BT-001, through
clinical trials and submission for marketing authorization by
the U.S. FDA, and advance prescription digital therapeutics
pipeline
    ** Funding included PIPE (private investment in public
equity) from healthcare investors led by Farallon Capital
Management, RS Investments, Sectoral Asset Management, and
Monashee Investment Management
    ** BTTX is a social media favorite on Mon; stock among top
trending tickers on Stocktwits https://stocktwits.com/rankings
with message volume surging nearly 500%
    ** Trading volume for BTTX on the session has already
exceeded 62 mln shares, making them among the 6th most active
across U.S. exchanges

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))