Better Therapeutics Receives FDA Authorization For AspyreRx, Gains 27%

(RTTNews) - Shares of Better Therapeutics, Inc. (BTTX) gain 27% in the after-hour market after the company announced that it received FDA authorization for AspyreRx to treat adults with type 2 diabetes

The company's AspyreRx was reviewed through the FDA's De Novo pathway and its authorization creates a new class of diabetes digital behavioral therapeutic devices.

AspyreRx formerly known as BT-001, is a prescription-only digital therapeutic (PDT) treatment designated to provide cognitive behavioral therapy to patients 18 years and above with type 2 diabetes.

"This regulatory milestone signals a promising future where technology, psychology, and medicine converge to address for the first time the behavioral causes of disease for the 37 million patients living with T2D in the U.S.," said Frank Karbe, CEO at Better Therapeutics.

AspyreRx is expected to launch commercially in the fourth quarter of 2023

Monday, the stock is trading at $1.15 in the after-hour market, up 27.77% or $0.25 per share at the Nasdaq.