Pardes Biosciences, Inc., a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics to improve the lives of patients suffering from life-threatening disease. Its lead candidate is the PBI-0451 that is in clinical development stage to treat and prevent severe acute respiratory syndrome coronavirus 2 infections and associated diseases. The company was incorporated in 2020 and is headquartered in Carlsbad, California.
IPO Year: 2021
Exchange: NASDAQ
Website: https://www.pardesbio.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/18/2023 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 3/15/2022 | Outperform | SVB Leerink | |
| 1/18/2022 | $25.00 | Buy | Jefferies |
JMP Securities downgraded Pardes Biosciences from Mkt Outperform to Mkt Perform
SVB Leerink initiated coverage of Pardes Biosciences with a rating of Outperform
Jefferies initiated coverage of Pardes Biosciences with a rating of Buy and set a new price target of $25.00
PBI-0451 administered twice-daily as a stand-alone agent achieves and maintains PK exposures anticipated to provide potent antiviral activity against SARS-CoV-2 PBI-0451 has been generally well-tolerated and has shown good oral bioavailability Company to host conference call and webcast Tuesday, February 15, 2022 at 3:00 p.m. PT / 6:00 p.m. ET CARLSBAD, Calif., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and associated diseases (i.e., COVID-19), announced that interim clin
CARLSBAD, Calif., Feb. 09, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and associated diseases (i.e. COVID-19), today announced that a virtual investor event will be hosted by the company's management team following the presentation of clinical data from the ongoing PBI-0451 Phase 1 trial at the 29th Conference On Retroviruses And Opportunistic Infections (CROI) 2022. The conference call and webcast will take place on Tuesday, February 15 at 3:00 p.m. PT / 6:00 p.m. ET. Individuals in
Carver Biosciences, Inc., a biotech company focused on the development of CRISPR/Cas13 antivirals, today announced the formation of its Scientific Advisory Board (SAB). Cameron Myhrvold Ph.D., co-founder of Carver will serve as the chairman of the SAB. Additional appointments include Uri Lopatin, M.D., Olivia Merkel, Ph.D., and Neville Sanjana, Ph.D. "I am thrilled to have Dr. Lopatin, Dr. Merkel and Dr. Sanjana join our advisory board," said Dr. Walter Strapps, co-founder and CEO of Carver. "Along with Dr. Myhrvold, these scientific leaders will help us shape our pipeline and advance our programs into the clinic." Uri Lopatin, M.D. Dr. Lopatin is a serial biotech entrepreneur who founde
CARLSBAD, Calif., Sept. 14, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential stand-alone, novel oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and COVID-19 disease, today announced the appointments of Laurie Smaldone Alsup, M.D. and John C. Pottage, Jr., M.D. to its Board of Directors. "As we advance PBI-0451 into a Phase 2 study, I am delighted to welcome both Laurie and John to our Board and look forward to leveraging their deep experience and insights as we take the next steps in development," said Tom Wiggans, Chief Executive Officer and Chair of the B
Mr. Wiggans brings over 40 years of biopharmaceutical industry experience, including over 25 years in chief executive leadership roles with multiple successful acquisitions. His expertise will be beneficial to Pardes as the company rapidly progresses to late-stage development and regulatory activities, as well as the initial phases of commercialization build-out Uri Lopatin, M.D. to transition to Chief Scientific & Strategic Advisor; Mark Auerbach to transition from Chairman to Board Director CARLSBAD, Calif., March 02, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral a
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CARLSBAD, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS) (Pardes or the Company) today announced that MediPacific, Inc. (MediPacific), an affiliate of Foresite Capital, through its wholly owned subsidiary MediPacific Sub, Inc. (Merger Sub), has successfully completed the previously announced tender offer to acquire all of Pardes' outstanding shares of common stock for a per share price of (i) $2.13 in cash (the Cash Amount), plus (ii) a non-tradeable contingent value right (each, a CVR and each CVR together with the Cash Amount, the Offer Price) associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property.
As previously announced, on July 16, 2023, MediPacific Sub, Inc. ("Purchaser") and MediPacific, Inc. ("Parent"), affiliates of Foresite Capital, entered into a definitive agreement and plan of merger (the "Merger Agreement") with Pardes Biosciences, Inc. (NASDAQ:PRDS) ("Pardes") whereby Purchaser agreed to acquire, subject to the terms of the Merger Agreement, Pardes for a price per share in cash, plus a non-tradeable contingent value right (the "CVR") associated with any future monetization of Pardes' COVID-19 antiviral portfolio and related intellectual property. Pursuant to the Merger Agreement, on July 28, 2023, Purchaser and Parent commenced a tender offer for any or all of Pardes' out
As previously announced, on July 16, 2023, MediPacific Sub, Inc. ("Purchaser") and MediPacific, Inc. ("Parent"), affiliates of Foresite Capital, entered into a definitive agreement and plan of merger (the "Merger Agreement") with Pardes Biosciences, Inc. (NASDAQ:PRDS) ("Pardes") whereby Purchaser agreed to acquire, subject to the terms of the Merger Agreement, Pardes for a price per share of not less than $2.02 in cash and an additional cash amount of not more than $0.17 per share (the "Additional Price Per Share"), plus a non-tradeable contingent value right (the "CVR") associated with any future monetization of Pardes' COVID-19 antiviral portfolio and related intellectual property. Pursua
NEW YORK, July 22, 2023 (GLOBE NEWSWIRE) -- Heritage-Crystal Clean, Inc. (NASDAQ:HCCI) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of HCCI to an investment affiliate of J.F. Lehman & Company for $45.50 per share in cash for each share of HCCI common stock owned. If you are a HCCI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected]. Pardes Biosciences, Inc. (NASDAQ:PRDS) Lifshitz Law PLLC announces an investigation into possible breach of fiducia
CARLSBAD, Calif., July 17, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS) today announced that it has entered into a definitive merger agreement whereby MediPacific, Inc. (Purchaser) will acquire Pardes for a price per share of not less than $2.02 in cash and an additional cash amount of not more than $0.17 per share, with the final price per share being based on the amount of the Company's net cash at closing, plus a non-tradeable contingent value right (the CVR) associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. Following a thorough review process conducted with the assistance of its legal and financial advisor
CARLSBAD, Calif., May 05, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS) today reported financial results for the first quarter ended March 31, 2023. "As previously announced this year, Pardes Biosciences has initiated a process to evaluate strategic alternatives to maximize shareholder value that may potentially result in changes to our business strategy," said Thomas G. Wiggans, Chief Executive Officer and Chair of Pardes Biosciences. First Quarter 2023 Financial Results Pardes reported a net loss of $17.8 million for the three months ended March 31, 2023, as compared to a net loss of $21.4 million for the three months ended March 31, 2022. Decrease in net loss for th
Pomotrelvir did not meet the primary endpoint measured by proportion of participants below the limit of detection for infectious SARS-CoV-2 on day 3 of treatment with pomotrelvir vs. placebo Otherwise healthy, vaccinated adults without risk factors for progression to severe disease experienced rapid clearance of SARS-CoV-2 virus and evidence of rapid alleviation of targeted and key COVID-19 symptoms independent of treatment arm Based on these results, Pardes to suspend further clinical development of pomotrelvir and explore a range of strategic alternatives CARLSBAD, Calif., April 03, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical com
Data from ongoing Phase 2 trial evaluating pomotrelvir (formerly known as PBI-0451) for the treatment of COVID-19 expected in the coming weeks Cash to fund operations for the next twelve months CARLSBAD, Calif., March 14, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing pomotrelvir as a potential stand-alone novel direct-acting, oral antiviral drug candidate for the treatment of COVID-19, today reported financial results for the fourth quarter and full year ended December 31, 2022 and provided a business update. "We are greatly encouraged by the progress made in our ongoing Phase 2 study evaluating pomotrelvir for the
CARLSBAD, Calif., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential stand-alone novel direct-acting, oral antiviral drug candidate for the treatment and prevention of COVID-19, announced that management will participate in a fireside chat at the SVB Securities Global Biopharma Conference on Tuesday, February 14, 2023 at 10:40 a.m. PT / 1:40 p.m. ET. A live audio webcast of the fireside chat will be available in the Investors section of Pardes' website at www.pardesbio.com, with an archived replay available for 30 days following the event. About Pardes Biosciences, Inc. Pardes Biosciences
Carver Biosciences, Inc., a biotech company focused on the development of CRISPR/Cas13 antivirals, today announced the formation of its Scientific Advisory Board (SAB). Cameron Myhrvold Ph.D., co-founder of Carver will serve as the chairman of the SAB. Additional appointments include Uri Lopatin, M.D., Olivia Merkel, Ph.D., and Neville Sanjana, Ph.D. "I am thrilled to have Dr. Lopatin, Dr. Merkel and Dr. Sanjana join our advisory board," said Dr. Walter Strapps, co-founder and CEO of Carver. "Along with Dr. Myhrvold, these scientific leaders will help us shape our pipeline and advance our programs into the clinic." Uri Lopatin, M.D. Dr. Lopatin is a serial biotech entrepreneur who founde