PRTC - PureTech announces share buyback program of up to $50M

PureTech Health (NASDAQ:PRTC) board approved a share buyback program in respect of its ordinary shares of one pence each up to a maximum consideration of $50M. The company consolidated cash and cash equivalents of $465.7M and $413.2M at Dec. 31, 2021 and Mar. 31, 2022, respectively. The board is confident that it can return this capital to shareholders while maintaining sufficient cash on hand to deliver on its strategy in line with its previous cash runway guidance into Q1 of 2025, including the continued development and expansion of its wholly owned pipeline and strategic investment in its founded entities. The share buyback program will be limited to the lower of $50M or 28.6M shares.

For further details see:

PureTech announces share buyback program of up to $50M