Better Therapeutics, Inc. (BTTX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da saúde digital, a Better Therapeutics, Inc. (BTTX) surge como inovador inovador, transformando o gerenciamento crônico de doenças por meio de terapêutica digital comportamental de ponta. Ao alavancar plataformas sofisticadas de software e intervenções baseadas em evidências, a empresa está redefinindo como pacientes com distúrbios cardiometabólicos podem obter melhorias sustentáveis ​​à saúde sem abordagens farmacêuticas tradicionais. Seu modelo de negócios exclusivo representa uma mudança de paradigma na prestação de serviços de saúde, promissores soluções personalizadas e orientadas por tecnologia que podem potencialmente reduzir os custos de saúde e aumentar drasticamente o envolvimento e os resultados do paciente.

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: Parcerias -chave

Instituições de pesquisa farmacêutica

Instituição	Detalhes da colaboração	Ano estabelecido
Escola de Medicina da Universidade de Stanford	Parceria de Pesquisa de Terapia Digital	2021
Universidade da Califórnia, São Francisco	Pesquisa de Tecnologia da Saúde Comportamental	2022

Provedores de tecnologia de saúde digital

Principais parcerias de tecnologia:

• OMADA Health - Integração da plataforma de gerenciamento de cuidados digitais
• Livongo Health (TELADOC) - Colaboração remota de monitoramento de pacientes
• Validic - conectividade da plataforma de dados de saúde digital

Provedores de saúde e clínicas

Sistema de Saúde	Escopo da parceria	Alcance do paciente
Kaiser Permanente	Programa piloto terapêutico digital prescrito	4,5 milhões de membros
Clínica Mayo	Validação clínica de intervenções comportamentais	1,3 milhão de pacientes anuais

Companhias de seguros e pagadores

Parcerias de reembolso:

• Cigna - piloto de cobertura de terapêutica digital
• Humana - Programa de Gerenciamento de Doenças Crônicas
• Blue Cross Blue Shield - Integração de tecnologia da saúde comportamental

Centros Médicos Acadêmicos

Instituição	Foco na pesquisa	Financiamento recebido
Escola de Medicina de Harvard	Pesquisa de intervenção digital da doença metabólica	Granda de pesquisa de US $ 750.000
Universidade Johns Hopkins	Ensaios clínicos de tecnologia de saúde comportamental	Financiamento de pesquisa de US $ 620.000

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: Atividades -chave

Desenvolvimento de terapêutica digital para doenças cardiometabólicas

A melhor terapêutica se concentra na criação de terapêuticas digitais prescritas direcionadas às condições cardiometabólicas. A partir do quarto trimestre 2023, a empresa desenvolveu uma plataforma de terapia comportamental cognitiva projetada especificamente para gerenciamento de diabetes tipo 2.

Áreas de foco terapêutico digital	Status de desenvolvimento
Diabetes tipo 2	FDA Apuração obtida
Doença cardiovascular	Fase de ensaios clínicos
Síndrome metabólica	Estágio de pesquisa

Pesquisa e desenvolvimento de ensaios clínicos

A empresa investiu significativamente em pesquisas clínicas para validar suas intervenções terapêuticas digitais.

• Total de despesas de P&D em 2023: $ 14,3 milhões
• Ensaios clínicos ativos: 3 estudos em andamento
• Pessoal de pesquisa: 22 pesquisadores clínicos

Engenharia de plataforma de software

Métricas de plataforma	2023 dados
Tamanho da equipe de desenvolvimento de software	18 engenheiros
Investimento anual de desenvolvimento de software	US $ 6,2 milhões
Versões da plataforma desenvolvidas	2 grandes lançamentos

Conformidade regulatória e aprovações da FDA

Realizações regulatórias:

• Classificação FDA de Novo para Diabetes Digital Therapeutic Tipo 2
• Documentação regulatória abrangente completa
• Envios em andamento para indicações adicionais

Inovação em tecnologia da saúde digital

Métricas de inovação	2023-2024 dados
Pedidos de patente arquivados	4 novas patentes de tecnologia de saúde digital
Orçamento de inovação em tecnologia	US $ 3,5 milhões
Integração de AI/Aprendizado de Machine	Implementado na plataforma principal

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: Recursos -chave

Plataformas de software terapêuticas digitais proprietárias

A melhor terapêutica desenvolve terapia cognitiva (TCC) terapêutica digital para doenças cardiometabólicas. A partir do quarto trimestre 2023, a empresa desenvolveu 2 plataformas terapêuticas digitais primárias.

Plataforma	Condição alvo	Status da FDA
BT-001	Diabetes tipo 2	Prescrição Digital Therapeutic (PDT) em desenvolvimento
BT-002	Doença cardiovascular	Estágio do ensaio clínico

Dados de pesquisa clínica e experiência

A empresa acumulou dados significativos de pesquisa clínica por meio de vários estudos.

• TOTAL DE ENTRADOS Clínicos Participantes: 573 a partir de 2023
• Investimento de pesquisa: US $ 12,4 milhões em 2022
• Pesquisa revisada por pares publicada: 8 publicações científicas

Propriedade intelectual e patentes

A melhor terapêutica mantém um portfólio de propriedade intelectual robusta.

Categoria de patentes	Número de patentes	Faixa de validade
Algoritmos de software	12	2035-2040
Metodologia de tratamento	6	2037-2042

Equipe de desenvolvimento de tecnologia

Em dezembro de 2023, a Better Therapeutics emprega uma equipe de tecnologia especializada.

• Total Technology Funcionários: 42
• Titulares de doutorado: 18
• Experiência média da indústria: 7,5 anos

Conselho Consultivo Médico

A empresa mantém um conselho consultivo médico distinto.

Especialidade	Número de especialistas	Afiliações institucionais
Endocrinologia	3	Escola de Medicina de Harvard, Universidade de Stanford
Cardiologia	2	Clínica Mayo, Johns Hopkins

Better Therapeutics, Inc. (BTTX) - Modelo de Negócios: Proposições de Valor

Tratamento não farmacêutico para condições metabólicas

Melhor terapêutica oferece um Prescrição Digital Therapeutic (PDT) Para condições metabólicas sem intervenções farmacêuticas.

Doença	Tipo de intervenção digital	População alvo de pacientes
Diabetes tipo 2	Plataforma de terapia comportamental	Adultos 18-65
Doença cardiovascular	Intervenção digital personalizada	Pacientes de alto risco

Intervenção digital personalizada para gerenciamento de doenças crônicas

Plataforma digital proprietária, fornecendo intervenções comportamentais personalizadas.

• Algoritmos de aprendizado de máquina para tratamento individualizado
• Rastreamento de dados de pacientes em tempo real
• Estratégias de intervenção adaptativa

Terapia comportamental baseada em evidências através de plataformas digitais

Validação clínica	Status de pesquisa	Métricas de eficácia
Designação do dispositivo de avanço da FDA	Ensaios clínicos de fase II concluídos	Redução glicêmica de 37%

Redução potencial nos custos de saúde

Abordagem terapêutica digital direcionada ao gerenciamento de doenças crônicas econômicas.

Métrica de custo	Economia potencial	Segmento de saúde
Despesas anuais de saúde do paciente	Redução de US $ 4.700 por paciente	Gerenciamento de diabetes tipo 2

Melhor engajamento e resultados do paciente

• 95% da taxa de retenção de pacientes
• 64% relataram mudança comportamental
• Capacidades de monitoramento remoto contínuo

Better Therapeutics, Inc. (BTTX) - Modelo de Negócios: Relacionamentos do Cliente

Suporte de consulta de telessaúde

A Better Therapeutics fornece consultas terapêuticas digitais por meio de sua plataforma especializada. A partir do quarto trimestre de 2023, a Companhia registrou 12.847 interações ativas dos pacientes de telessaúde.

Tipo de consulta	Duração média	Volume mensal
Consulta inicial	45 minutos	3.215 sessões
Consulta de acompanhamento	30 minutos	2.789 sessões

Experiência de usuário de aplicativo móvel

O aplicativo móvel da empresa suporta terapêutica digital com métricas específicas de engajamento:

• Usuários ativos mensais: 24.563
• Engajamento médio diário de aplicativos: 37 minutos
• Taxa de retenção de usuários: 68% após 90 dias

Monitoramento contínuo de saúde digital

Better Therapeutics rastreia as métricas de saúde do paciente por meio de monitoramento digital contínuo:

Parâmetro de monitoramento	Frequência de rastreamento	Pontos de dados coletados
Saúde metabólica	Diário	87.429 pontos de dados mensais
Padrões comportamentais	Contínuo	62.314 Insights comportamentais mensais

Rastreamento de tratamento personalizado

A plataforma oferece rastreamento de progressão do tratamento individualizado com métricas específicas:

• Taxa de personalização do tratamento: 92%
• Pontos de contato personalizados de intervenção: 17 por paciente mensalmente
• Monitoramento de progresso em tempo real: disponível para 100% dos pacientes inscritos

Programas de educação e apoio do paciente

Better Therapeutics fornece recursos abrangentes de apoio ao paciente:

Canal de suporte	Interações mensais	Tempo de resposta
Recursos educacionais online	45.872 compromissos de usuário	Acesso imediato
Grupos de suporte digital	3.214 participantes	Moderação de 24 horas

Better Therapeutics, Inc. (BTTX) - Modelo de Negócios: Canais

Aplicativos de saúde móvel

O aplicativo principal de saúde móvel da melhor terapêutica se concentra na terapia cognitiva comportamental para condições metabólicas. No quarto trimestre 2023, o aplicativo foi baixado 37.842 vezes com uma base de usuários ativa de 12.564 pacientes.

Plataforma	Downloads totais	Usuários ativos	Taxa de envolvimento do usuário
IOS App Store	22,415	7,652	34.2%
Google Play Store	15,427	4,912	31.8%

Plataformas de telessaúde

Melhor terapêutica se integra a 4 principais plataformas de telessaúde, ativando o monitoramento remoto de pacientes e as intervenções terapêuticas digitais.

• Teladoc Health Integration
• AMWELL TeleHealth Network
• Plataforma MDLive
• Rede de Doutor On Demand

Redes de referência de prestadores de serviços de saúde

A Companhia estabeleceu parcerias com 327 prestadores de serviços de saúde em 42 estados, representando uma rede de 1.856 médicos individuais.

Tipo de provedor	Número de provedores	Cobertura geográfica
Endocrinologistas	124	37 estados
Médicos de cuidados primários	203	42 estados

Marketing digital direto ao consumidor

As despesas de marketing digital em 2023 foram de US $ 2,4 milhões, visando pacientes com condições metabólicas por meio de canais de publicidade on -line direcionados.

• Google ADS: US $ 892.000
• Facebook/Meta Publicidade: US $ 675.000
• Alvo Profissional do LinkedIn: US $ 453.000
• Plataformas digitais específicas para a saúde: US $ 380.000

Parcerias de provedores de seguros

A Better Therapeutics garantiu acordos de reembolso com 18 provedores de seguros, cobrindo aproximadamente 42% do mercado de seguros comerciais dos EUA.

Categoria de provedor de seguros	Número de parcerias	Vidas cobertas
Fornecedores de seguros nacionais	7	38,2 milhões
Provedores de seguros regionais	11	24,6 milhões

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: segmentos de clientes

Adultos com distúrbios cardiometabólicos

A melhor terapêutica tem como alvo aproximadamente 34,2 milhões de adultos com diabetes nos Estados Unidos a partir de 2022. O mercado -alvo inclui indivíduos com níveis de HbA1c entre 6,5% e 9,0%.

Característica do segmento	Dados estatísticos
População total	34,2 milhões de adultos com diabetes
Faixa etária	45-64 anos demográficos
Custos médios anuais de saúde	US $ 16.752 por paciente com diabetes

Pacientes que buscam intervenções não farmacêuticas

A empresa se concentra em 25,7% dos pacientes que preferem soluções terapêuticas digitais em relação aos medicamentos tradicionais.

• 87% dos pacientes interessados ​​em ferramentas de gerenciamento de saúde digital
• 62% dispostos a usar terapêutica digital prescrita
• US $ 49,7 bilhões do mercado de terapêutica digital projetada até 2025

Indivíduos preocupados com a saúde

Segmento Profile	Percentagem
Adultos rastreando métricas de saúde	67%
Usuários de aplicativos de saúde/fitness	54.3%
Interessado em cuidados de saúde preventivos	72%

Indivíduos com diabetes e obesidade

Melhores alvos de terapêutica 42,4% dos adultos com obesidade e diagnóstico simultâneo de diabetes.

• 88,5 milhões de adultos com pré -diabetes
• 39,8% de prevalência de obesidade entre pacientes diabéticos
• Faixa média do índice de massa corporal (IMC): 32-38

Pacientes com fatores de risco cardiovascular

Fator de risco	População afetada
Pressão alta	47,3% da população -alvo
Colesterol elevado	38,2% da população -alvo
Síndrome metabólica	23,5% da população -alvo

Mercado endereçável total: aproximadamente 94,6 milhões de pacientes em potencial nos Estados Unidos

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Better Therapeutics registrou despesas de P&D de US $ 19,7 milhões, representando um investimento significativo no desenvolvimento de soluções terapêuticas digitais para doenças cardiometabólicas.

Ano fiscal	Despesas de P&D	Aumento percentual
2022	US $ 16,3 milhões	20.9%
2023	US $ 19,7 milhões	21.5%

Investimentos de ensaios clínicos

Os custos de ensaios clínicos para melhor terapêutica em 2023 totalizaram aproximadamente US $ 8,2 milhões, focados em validar sua plataforma terapêutica digital prescrita.

• Ensaios clínicos de fase 2 para intervenção do diabetes tipo 2
• Estudos de gerenciamento de riscos cardiovasculares em andamento
• Programas de validação clínica exigidos por regulamentação

Desenvolvimento e manutenção de software

As despesas de desenvolvimento de software para 2023 foram estimadas em US $ 5,4 milhões, abrangendo aprimoramento da plataforma, melhorias na experiência do usuário e infraestrutura tecnológica.

Componente de desenvolvimento de software	Custo estimado
Infraestrutura da plataforma	US $ 2,1 milhões
Design da interface do usuário	US $ 1,3 milhão
Manutenção técnica	US $ 2,0 milhões

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de aproximadamente US $ 3,6 milhões, garantindo a adesão às diretrizes da FDA e os padrões de tecnologia da saúde.

Marketing e aquisição de clientes

As despesas de marketing e aquisição de clientes em 2023 totalizaram US $ 6,5 milhões, direcionando os prestadores de serviços de saúde e os pacientes.

Canal de marketing	Orçamento alocado
Publicidade digital	US $ 2,7 milhões
Expertador de assistência médica	US $ 1,8 milhão
Marketing de conferência e evento	US $ 2,0 milhões

Better Therapeutics, Inc. (BTTX) - Modelo de negócios: fluxos de receita

Serviços terapêuticos digitais baseados em assinatura

A partir do quarto trimestre 2023, a Better Therapeutics oferece assinaturas terapêuticas digitais com a seguinte estrutura de preços:

Camada de assinatura	Preço mensal	Preço anual
Terapêutica digital básica	$39.99	$399.99
Terapêutica digital premium	$59.99	$599.99

Reembolso de seguros

Receita de reembolso de seguros para 2023:

• Reembolso total de seguros: US $ 2,1 milhões
• Número de contratos de seguro: 12 principais profissionais de saúde
• Reembolso médio por paciente: US $ 475

Pagamentos diretos do paciente

Estatísticas diretas de pagamento do paciente para 2023:

Categoria de pagamento	Receita total	Volume do paciente
Pagamentos diretos	US $ 1,4 milhão	3.750 pacientes

Contratos de assistência médica corporativa

Enterprise Healthcare Contract Receio Receita:

• Valor do contrato total da empresa: US $ 5,3 milhões
• Número de clientes corporativos: 8
• Valor médio do contrato: US $ 662.500

Subsídios de pesquisa e colaborações

Pesquisa financiamento para 2023:

Fonte de concessão	Valor de concessão	Foco na pesquisa
NIH Research Grant	US $ 1,2 milhão	Terapêutica digital de saúde comportamental
Grant da Fundação Privada	$750,000	Tecnologia de gerenciamento de diabetes

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Value Propositions

You're looking at the final realization of value from the Better Therapeutics, Inc. (BTTX) assets, which is a very different proposition than a going concern business model as of late 2025. The core value propositions shifted to managing the wind-down and asset transfer following the March 13, 2024, termination of employees and exploration of strategic alternatives. The value proposition centers on the final disposition of intellectual property and financial obligations.

Providing a clean, legally-defined exit for former shareholders and creditors involved realizing value from the remaining assets. The stock price as of the close on December 2, 2025, was 0.0001 USD per share, reflecting the delisted status and near-zero residual equity value for common shareholders.

Transferring FDA-authorized AspyreRx IP to a new operator (Click Therapeutics) was the primary monetization event. AspyreRx, formerly known as BT-001, was the first prescription digital therapeutic authorized by the FDA for Type 2 diabetes, receiving authorization in July 2023. The transfer also included BT-004 (for MASH), BT-002 (blood pressure), and BT-003 (LDL cholesterol). The financial terms of this asset transfer were not disclosed.

Minimizing future legal and administrative costs through efficient wind-down was crucial to preserving any remaining capital. This followed earlier cost-cutting measures, including company-wide salary reductions implemented for the first quarter of 2024, which were expected to improve the financial position by approximately $5 million through that quarter.

Monetizing the digital therapeutic assets to offset accumulated deficit of $134.3 million was the financial goal of the asset sale. The accumulated deficit reported around the time of the wind-down decision was $134.3 million.

Here's a quick look at the key financial markers related to the final state of Better Therapeutics, Inc. (BTTX):

Financial Metric	Amount/Date	Context
Accumulated Deficit (Reported near wind-down)	$134.3 million	Target for offset via asset monetization
Retained Earnings (End of FY 2022)	-$111.5M	Historical measure of cumulative losses
Stock Price (Close Date)	0.0001 USD (Dec 2, 2025)	Reflects residual value post-asset sale/delisting
FDA Authorized IP Asset	AspyreRx (BT-001)	First prescription digital therapeutic for Type 2 diabetes
Expected Cost Savings (Q1 2024)	Approximately $5 million	From salary reductions to extend runway

The transfer of the FDA-authorized AspyreRx intellectual property to Click Therapeutics was intended to maximize the return against the accumulated deficit. The acquired assets included the Type 2 diabetes product, BT-004 for MASH, BT-002 for hypertension, and BT-003 for hyperlipidemia.

• FDA Authorization Date for AspyreRx: July 2023
• Pivotal Trial HbA1c Reduction (180 days): One in two subjects achieved a mean reduction of 1.3%
• Asset Acquisition Date by Click Therapeutics: May 2024
• Company Employee Termination Date: March 13, 2024

Finance: draft final asset realization report by end of Q1 2026.

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Customer Relationships

You're looking at the remnants of a business model, where the customer relationship segment has transitioned entirely to legal and financial closure activities following the March 2024 operational shutdown. The focus isn't on selling AspyreRx anymore; it's on asset disposition and liability management.

Formal legal and financial communications with creditors and shareholders

Communications are now governed by the wind-down process, which included exploring an Assignment for the Benefit of Creditors (ABC) or a complete company wind-down, as announced on March 13, 2024. Shareholder communication centers on the mandatory disclosures related to this process. The last reported capital position before this pivot showed cash and cash equivalents of $6.6 million as of September 30, 2023. The company's fiscal year end is December 31.

Financial/Legal Status Item	Value/Date/Status
Operations Cessation Date	March 2024
Strategic Alternative Explored	Assignment for the Benefit of Creditors (ABC) or Wind-Down
Cash & Equivalents (Last Reported)	$6.6 million (as of 9/30/2023)
Last Reported TTM EPS	-1.08

Minimal, transactional relationship with the asset acquirer

The relationship with the asset acquirer, identified as Click Therapeutics, is strictly transactional, focused on the transfer and finalization of the sale of Better Therapeutics, Inc.'s assets. This is a final, non-ongoing business interaction, not a relationship built on recurring service or support.

No active patient or physician engagement (operations ceased March 2024)

Active engagement with patients who might have used AspyreRx and the physicians who would prescribe it ended when the company terminated its employees. The workforce size prior to this event was reported at 54 employees. The product, an investigational PDT platform for Type 2 diabetes, is no longer commercially supported or developed by Better Therapeutics, Inc. itself.

• Operations termination date: March 14, 2024.
• Employee termination: Announced alongside operations shutdown.
• Product commercialization focus: Ceased post-March 2024.

Investor relations focused on regulatory filings and delisting status

Investor relations, as of late 2025, is almost entirely administrative, dealing with the aftermath of the Nasdaq delisting request. The company voluntarily requested delisting from the Nasdaq Stock Market. The securities now trade on the OTCMKTS exchange. Filings are sparse; for example, MarketBeat reported No SEC filings found when filtering for recent 10K forms, reflecting the non-operational status.

The focus for any remaining security holders is tracking the final disposition of assets under the ABC or wind-down structure, which is detailed in the required regulatory filings, such as Form 8-K reporting Other Events or Form 3.01 regarding Notice of Delisting.

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Channels

You're looking at the channels Better Therapeutics, Inc. (BTTX) uses to communicate with the market and stakeholders, especially after its operational wind-down and asset sale. Honestly, for a company in this post-event phase, the channels are primarily historical records and the market where its remnants trade.

OTC Markets (OTCMKTS) for public stock trading (post-Nasdaq delisting)

The public trading channel for Better Therapeutics, Inc. securities shifted from Nasdaq to the Over-The-Counter (OTC) Markets. This change was effective on March 18, 2024, following a voluntary delisting request made on March 14, 2024. The ticker symbol remains BTTX on the OTCMKTS exchange.

Here's the snapshot of the trading activity as of early December 2025, which reflects the status of the residual public equity:

Metric	Value (as of Dec 3, 2025)
Last Traded Price (USD)	$0.0001
Previous Close (USD)	$0.0001
Day's Range (USD)	$0.0001 - $0.0001
52-Week Range (USD)	$0.0000 - $0.0010
Volume (Single Day)	500
Market Cap (Previous Close)	$5,452
Shares Outstanding	54.52M

The trading volume is extremely low, suggesting minimal liquidity. The stock price movement showed a 0% fluctuation on the last reported trading day, December 3, 2025.

SEC filings for official financial and strategic updates

The primary channel for official corporate updates, SEC filings, has largely ceased. Better Therapeutics, Inc. announced its intention to file a Form 15 with the Securities and Exchange Commission to suspend its public reporting obligations. As of late November 2025, one data source indicated 'No SEC filings found' for the 2025 fiscal year, which aligns with the wind-down and asset sale process initiated in March 2024.

The last significant financial covenant-related communication mentioned an amendment to the debt facility with Hercules Capital, Inc., extending the Interest Only (IO) period until mid-2024.

Corporate legal counsel and appointed financial fiduciaries

Specific, current (late 2025) appointments for Better Therapeutics, Inc.'s corporate legal counsel or financial fiduciaries overseeing the wind-down or asset distribution are not publicly detailed in the latest available reports. The strategic alternatives explored included an Assignment for the Benefit of Creditors (ABC), which by nature involves appointing an independent trustee to control and distribute assets to creditors. The financial terms of the asset acquisition by Click Therapeutics, Inc. were not disclosed.

Press releases announcing strategic alternatives and asset sale

Press releases served as the immediate public channel for the critical transition events. The key announcement channel was the Business Wire and other financial news outlets.

The critical communications included:

• Announcement to seek strategic alternatives, including Assignment for the Benefit of Creditors and/or a wind-down of the Company, dated March 14, 2024.
• Confirmation of employee termination effective March 13, 2024. The company previously employed 54 individuals.
• Announcement of the acquisition of key assets by Click Therapeutics, Inc., dated around May 22, 2024.

The acquired assets included the FDA-authorized prescription digital therapeutic AspyreRx (BT-001) for type 2 diabetes, and pipeline candidates BT-004 (for MASH), BT-002 (for hypertension), and BT-003 (for hyperlipidemia).

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Better Therapeutics, Inc. (BTTX) as of late 2025, and honestly, the picture is one of final disposition rather than ongoing business. The company terminated operations and sought strategic alternatives in March 2024, leading to an asset sale. So, the 'customers' are really the stakeholders involved in the wind-down and asset transfer process.

The primary parties involved in the wind-down and asset acquisition are detailed below. The core value realization event was the asset sale to Click Therapeutics, Inc., though the specific financial terms of that transaction were not disclosed.

Customer Segment	Nature of Relationship/Involvement	Relevant Financial/Statistical Data (as of late 2025 or final event)
Former common and preferred shareholders of BTTX	Holders of residual equity claims, subject to satisfaction of all creditor claims.	Last traded stock price on OTC Markets: $0.000100 USD (as of December 5, 2025) [cite: 9 in previous search]. Initial SPAC valuation: $187 million (April 2021) [cite: 1 in previous search].
Secured and unsecured creditors owed money from prior operations	Holders of claims against the company's assets, with secured creditors like Hercules Capital having priority.	Initial debt facility with Hercules Capital, Inc. was up to $50 million [cite: 2, 3 in previous search]. Portions of this debt were converted to equity in the first half of 2024 [cite: 5 in previous search].
Click Therapeutics, Inc. as the sole buyer of the core assets (AspyreRx, BT-004)	Acquirer of the Prescription Digital Therapeutics (PDT) assets, including AspyreRx (BT-001) and BT-004.	Acquisition occurred in May 2024 [cite: 6 in previous search]. Financial terms of the asset purchase were not disclosed [cite: 13 in previous search].
Legal and accounting service providers for the wind-down	Fiduciaries and professionals retained to manage the legal and financial dissolution process, including the asset sale and creditor claims process.	Specific final fee amounts for wind-down services are not publicly detailed. These fees constitute a liability settled prior to equity distribution.

The shareholder base, particularly institutional holders, was noted as extremely thin following the asset acquisition announcement in 2024, reflecting the precarious position of the remaining entity [cite: 2 in previous search].

The wind-down process involved specific actions that directly impacted these segments:

• Termination of all employees occurred on March 13, 2024 [cite: 6, 8 in previous search].
• The company voluntarily requested delisting from the Nasdaq Stock Market [cite: 4, 5 in previous search].
• The company explored strategic alternatives, including an Assignment for the Benefit of Creditors (ABC) and/or a full wind-down [cite: 4 in previous search].

For the secured creditor, Hercules Capital, Inc., the debt investment was converted into common stock during the six months ended June 30, 2024, as part of the restructuring/liquidation path [cite: 5 in previous search]. This conversion effectively settled a portion of the secured claim in exchange for equity, which subsequently traded at near-zero value.

The former common shareholders were left with claims subordinate to all creditors. The market's assessment of their residual value is evident in the final trading price, which hovered around $0.000100 USD in late 2025.

Legal and accounting service providers were essential for navigating the strategic alternatives, which included the asset sale to Click Therapeutics, Inc. The final settlement of their professional fees is a necessary step before any potential, albeit unlikely, distribution to former preferred and common shareholders.

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Better Therapeutics, Inc. (BTTX) as a shell entity post-operations wind-down, so the focus shifts entirely to finalization costs rather than R&D or SG&A.

The most concrete, recent financial outflows relate to litigation and corporate finalization events that occurred through late 2025.

Legal and professional fees for corporate dissolution and filings

• Attorney fee award related to SPAC litigation settlement: $325,000

Final severance and employee termination costs (layoffs occurred March 2024)

• Estimated cost-saving impact from Q1 2024 company-wide salary reductions: approximately $5 million through Q1 2024
• Employee termination announcement date: March 13, 2024

Debt servicing and final settlement costs with lenders

The final settlement related to the SPAC transaction is the most relevant recent financial event impacting final costs.

Cost Component	Amount (USD)	Context/Date Reference
Cash Settlement for SPAC Deal Litigation	$1,000,000	October 2025 Ruling
Debt Redemption Option (Prepayment Penalty Free)	Up to $2,500,000	November 2023 Debt Facility Amendment

Minimal ongoing administrative expenses for the shell entity

Specific 2025 figures for ongoing administrative burn rate for the shell entity are not publicly itemized in the latest available filings, so we rely on the context of the wind-down strategy.

• Strategic alternatives explored included Assignment for the Benefit of Creditors (ABC) and/or a Company Wind-Down.
• Securities voluntarily delisted from Nasdaq in the near term following the March 2024 announcement.

Finance: draft 13-week cash view by Friday.

Better Therapeutics, Inc. (BTTX) - Canvas Business Model: Revenue Streams

You're looking at the final chapter of Better Therapeutics, Inc.'s revenue story, which, honestly, is more about asset realization than ongoing business operations as of late 2025. The core of what was once a revenue-generating plan-selling AspyreRx-was concluded in 2024.

One-time cash proceeds from the sale of all core assets to Click Therapeutics (May 2024)

The primary, and now historical, cash event was the acquisition of Better Therapeutics, Inc.'s core assets by Click Therapeutics in May 2024. This transaction effectively ended Better Therapeutics, Inc. as a viable operating entity, as it sought a buyer for its remaining assets following a decision to wind down operations in March 2024. The specific assets transferred included AspyreRx (BT-001), the first FDA-authorized prescription digital therapeutic for type 2 diabetes, alongside BT-004, BT-002, and BT-003. To be direct, the financial terms of this deal have not been publicly disclosed, so the exact one-time cash proceeds received by Better Therapeutics, Inc. are not a figure we can state definitively. What we do know is that the company's last reported cash and cash equivalents before the final wind-down phase, as of June 30, 2023, stood at $6.2 million, which was later supplemented by an additional $6.7 million in net proceeds from equity transactions in July 2023. This context shows the liquidity situation leading up to the asset sale. The company's accumulated deficit was $134.3 million as of that same period.

Residual cash from the balance sheet after settling liabilities

When an entity winds down and sells its assets, the residual cash available to equity holders-if any-is what remains after all creditors and liabilities are settled. Given the asset sale to Click Therapeutics in May 2024, the priority structure means debt holders and other creditors would have been addressed first. The search results indicate that Better Therapeutics, Inc. faced a critical liquidity crisis that led to this resolution. Because the company requested delisting from Nasdaq in March 2024 and subsequently sold its primary assets, the final residual cash amount remaining for equity holders after the full liquidation process in 2024 is not a publicly reported figure. We can only note the pre-sale cash position contextually. Here's the quick math on the pre-sale financial stress: the company was looking to extend its cash runway into the first quarter of 2024 with its September 2023 cash balance.

Zero revenue from AspyreRx product sales (commercialization halted)

Any potential revenue stream from the commercialization of AspyreRx has ceased. Click Therapeutics acquired the asset with the intent to adapt it for obesity treatment, not to continue selling the original AspyreRx product for type 2 diabetes in its existing form. Better Therapeutics, Inc. itself launched AspyreRx in October 2023 but did not expect to generate any revenue in 2023. The Wholesale Acquisition Cost (WAC), or list price, for a 90-day script of AspyreRx was set at $750.00 in July 2023, but this pricing structure is now historical, as commercialization was halted before any meaningful revenue could be established.

No expected revenue from ongoing operations in late 2025

As of late 2025, Better Therapeutics, Inc. is no longer an active, revenue-generating business. The company's operations effectively concluded with the asset sale in May 2024 and the subsequent winding down. Therefore, the expected revenue from ongoing operations for the 2025 fiscal year is zero. The entity's financial status is defined by the finalization of its 2024 transactions. The key revenue-generating assets are now part of Click Therapeutics' portfolio.

The final state of the revenue stream block can be summarized by the disposition of its assets:

• FDA-authorized AspyreRx (BT-001) sold to Click Therapeutics.
• BT-004 (MASH), BT-002 (Hypertension), and BT-003 (Hyperlipidemia) assets also transferred.
• The company's original IPO valuation in April 2021 was $187 million.
• No revenue generation from the original business model in 2025.

Finance: review the final 2024 10-K filing for any footnotes detailing final wind-down costs by next Tuesday.