Third Harmonic Bio Plans Nasdaq Delisting by July 31
Third Harmonic Bio, Inc. (THRD) announced its intention to voluntarily delist its common stock from Nasdaq and deregister under the Securities Exchange Act as part of a planned dissolution. The company expects to cease trading on July 31, 2025, and has approved a liquidation distribution of $5.35 per share, with the first distribution anticipated in August 2025. Key executives will depart as part of this process, underscoring operational challenges identified by TipRanks' AI Analyst, Spark.
AstraZeneca forms an AI deal in China; Third Harmonic advances liquidation plans
AstraZeneca has partnered with CSPC Pharmaceutical Group to use AI for discovering oral drugs for immunological and chronic conditions, with a potential deal value up to $5.3 billion. Meanwhile, Third Harmonic Bio is liquidating, planning to return $5.30 to $5.44 per share to stockholders and auctioning an experimental drug for chronic hives. Other news includes UCB's plan for a new biologics manufacturing plant in the U.S., Insmed raising $750 million after positive Phase 2 results, and UroGen Pharma receiving FDA approval for a bladder cancer drug despite an advisory panel's reservations.
Finance Watch: Insmed Cashes In On Positive Data With $750m Offering
Insmed capitalized on positive data by announcing a $750 million offering. The article highlights Insmed's potential to surpass established therapies with its PAH data and plans for a 2025 launch of brensocatib.
Here’s Why Third Harmonic Bio (THRD) Fell in Q1
Third Harmonic Bio (THRD) experienced a decline in Q1 after its primary drug, THB001, caused liver toxicity issues in trials and subsequent Phase 1 data for THB335 also disappointed investors. Despite a recent one-month return of 48.28%, the biopharmaceutical company's shares fell 55.90% over the past 52 weeks. 1 Main Capital highlighted THRD in its Q1 2025 investor letter but noted a stronger conviction in AI stocks for higher and quicker returns.
SF biotech company, once worth nearly $1 billion, plans to shut down
Third Harmonic Bio, a San Francisco biotech company once valued at nearly $1 billion, plans to shut down, liquidate its assets, and distribute remaining cash to stockholders. This decision follows a 50% staff reduction and a significant drop in its market capitalization. The company intends to sell off its hives drug prospect and expects a stockholder vote on the liquidation plan in June.
Third Harmonic's shutdown, Coherus and Xoma drug sales connected - Bizwomen
Amid a prolonged downturn in the biotech industry, several companies are making significant strategic moves. Third Harmonic Bio is shutting down and returning cash to shareholders, while Coherus BioSciences is selling an anemia drug to focus on cancer therapies, and Xoma Royalty Corp. has divested five drugs it acquired last year. These actions highlight a trend of biotech firms adjusting to a challenging funding landscape by divesting assets, returning value to shareholders, or realigning their strategic focus.
Third Harmonic's shutdown, Coherus and Xoma drug sales connected - Bizwomen
Amid a prolonged biotech downturn, several Bay Area drug companies are making strategic moves to adapt. Third Harmonic Bio will shut down and return funds to shareholders, Coherus BioSciences sold its biosimilar anemia drug to focus on oncology, and Xoma Royalty Corp. sold five drugs it acquired recently, highlighting a trend of asset divestment and restructuring in the industry.
Third Harmonic Bio to Return $255M to Shareholders in Major Cash Distribution
Third Harmonic Bio announced a Plan of Liquidation and Dissolution, subject to stockholder approval on June 5, 2025. The company plans an initial cash distribution of $246.6 million to $255.4 million, or $5.13 to $5.33 per share, in Q3 2025 by liquidating assets, including the THB335 program. Following approval, the company will delist from Nasdaq and resolve outstanding liabilities, with a total estimated distribution eventually reaching $5.13 to $5.42 per share.
Third Harmonic Bio: In Focus for Strategic Moves
Third Harmonic Bio (NASDAQ: THRD) saw its stock surge 39.42% after revealing promising Phase 1 data for its THB335 program and securing FDA designation, which boosted investor confidence. The company plans to initiate a Phase 2 study for THB335 in chronic spontaneous urticaria (CSU) by mid-2025 and is exploring strategic options like business combinations to enhance shareholder value, backed by a strong cash reserve of $285.1M despite a recent EPS loss.
Third Harmonic Bio Announces Plan of Liquidation and Dissolution
Third Harmonic Bio (Nasdaq: THRD) announced that its board of directors has approved a Plan of Liquidation and Dissolution, intending to seek stockholder approval on June 5, 2025. The plan involves liquidating the company, distributing remaining cash to stockholders, and selling assets including the THB335 program. An initial distribution of approximately $5.13 to $5.33 per share is expected in the third quarter of 2025.
Atlas unveils a new $450M fund targeted at biotechs 2 years after its last
Atlas Venture has announced a new $450 million fund, its fourteenth, dedicated to innovative biotechs, matching the size of its previous fund from March 2022. Since then, the firm has launched 16 new biotechs and seen significant exits including acquisitions by Eli Lilly, GSK, and Novartis, alongside several public listings. This new fund reinforces Atlas's focused venture creation strategy within the biotech sector, following other large investment announcements in the industry.
Third Harmonic halts study of lead drug over safety risk
Third Harmonic Bio has halted development of its lead drug after two participants in an early clinical trial showed signs of liver toxicity. This setback caused the company's shares to drop by over 75%, despite its earlier success in 2022, including a $185 million IPO. The company plans to focus on developing new drug candidates targeting the same cellular regulator, KIT, and believes the toxicity is compound-specific rather than related to the target.
Safety Issue Trips Third Harmonic Months After IPO
Third Harmonic Bio announced the discontinuation of its Phase Ib trial for THB001, its lead asset aimed at treating chronic inducible urticaria, due to two patients developing asymptomatic liver transaminitis. Despite showing preliminary clinical activity, the decision caused the company's stock to drop by 75%. This setback highlights the risks associated with early-stage biotech investments, especially in a challenging economic climate for IPOs.
THRD - Third Harmonic Bio Inc Latest Stock News & Market Updates
This page provides news and analysis for Third Harmonic Bio (THRD), a biopharmaceutical company that focused on inflammatory diseases before deciding to liquidate. Recent updates detail the company's plan of liquidation and dissolution, including stockholder approval, expected distributions per share, and the initiation of a sale process for its lead asset, THB335. The news archive also covers earlier financial results and clinical trial progress for THB335.
Natalie Holles lands at freshly funded biotech startup focused initially on hives
Natalie Holles has been appointed CEO of Third Harmonic Bio, a biotech startup that has secured $105 million in funding. The company, initially focused on treating hives, marks Holles' return to a CEO role after her previous position with a late-stage gene therapy company. This move signifies a new chapter for Holles, leading a smaller company targeting a significant disease.
Startup targeting allergies launches with Novartis drug, $155M
Third Harmonic Bio has launched from stealth with an impressive $155 million in funding, focusing on developing treatments for allergies. The company's debut is notably associated with a Novartis drug, underscoring a significant entry into the life sciences sector. Natalie Holles is the CEO of Third Harmonic Bio.
