PureTech Health PLC said Thursday that it will launch a share-buyback program of up to $50 million, or 28.6 million ordinary shares.
The clinical-stage biotechnology company said it is confident that it can return the capital to shareholders while continuing to develop and expand its pipeline and strategic investments.
The company said the buyback program will be executed via open market purchases.
PureTech had $413.2 million of consolidated cash and cash equivalents as of March 31, it said.
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