Capstar Special Purpose Acquisition Corp. (CPSR) is basically intended to impact the merger, acquisition of the assets, exchange the shares, or a similar business merger with different entities. The main focus of the company is on the business related to healthcare, media, consumer and telecommunication firms.
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The price of CPSR stock during the regular trading on January 13, 2022 was $7.36 with a significant rise of 9.85%. At last check in the aftermarket, the stock was further up by 5.43%.
CPSR: Events and Happenings
On January 13, 2022, CPSR reported about the finalization of its business merger with Gelesis which will be named as Gelesis Holdings, Inc. and it will start its trading on January 14, 2022 in NYSE under the ticker GLS. GLS is the producer of Plenity, which is FDA-cleared weight management program.
On December 16, 2021, CPSR reported that its business merger Gelesis had formed an edible billboard against the concept that in the weight loss journey, people can’t eat the desirable foods. On December 1, 2021, CPSR reported that its business merger Gelesis announced about the broad availability of Plenity to adolescents who met the criteria.
On November 18, 2021, CPSR reported that its business merger Gelesis announced about the placement of $30 million fully pre-paid order for the Plenity by one of a leading healthcare company Ro. Plenity is the foremost commercial product of Gelesis for weight management.
CPSR: Key Financials
On November 16, 2021, CPSR reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows
Assets
Total current assets for the quarter were $0.34 million.
Net Loss per share
Basic and diluted net loss for the quarter was $14.2 million or $0.41 per share comparable to same period of 2020 when it was $3.6 million or $0.11 per share.
On November 1, 2021, CPSR reported that its business merger Gelesis announced about its publication regarding the origin of the utilized technology and processes for its superabsorbent hydrogels in Nature’s Scientific Reports. The hydrogels were intended to copy the raw vegetables’ mechanical properties. The publication described the therapeutic method for weight management and futuristic solution for other gut-related disorders.
On October 28, 2021, CPSR reported that its business merger Gelesis announced about the recognition as top industry honors by its two senior leaders for their outstanding career performances. One official was among as Top 25 Women Leaders in Biotechnology and the other one was honored by the Academy of Nutrition and Dietetics with an Excellence in Practice Award.
Conclusion
CPSR stock is 24% down comparable to the six months earlier stock price due to the uncertainty associated with the pandemic. The company’s stock is shining in the regular trading as well as current aftermarket due the company’s announcement about its merger regarding its debut as a publicly traded company. The analysts are predicting the merger to be a good sign for the company’s stock position.
