PTE - PTE STOCK NEWS

PolarityTE, Inc. (Nasdaq: PTE) reported a net loss of $7.2 million for Q3 2022, a significant reduction from $21.6 million in Q3 2021, with an operating loss decrease of 13%. The company held $16.1 million in cash as of September 30, 2022. It is progressing on its Phase III trial for SkinTE, anticipating enrollment completion by mid-2024. With no revenues expected from SkinTE due to previous regulatory restrictions, the company is focused on cost management and reducing operating expenses. The FDA granted SkinTE RMAT designation, enhancing regulatory dialogue.

On November 1, 2022, PolarityTE (Nasdaq: PTE) received an unsolicited, non-binding acquisition offer from Michael Brauser to purchase all outstanding common stock not owned by him for $1.25 per share. An amended offer was received on November 8, 2022. This offer includes various conditions such as settlement with warrant holders and a sixty-day due diligence period. The Company's Board and a special committee will review this offer to determine the best course of action for its security holders, although there are no guarantees that the transaction will proceed.

PolarityTE, Inc. (Nasdaq: PTE), a biotechnology firm based in Salt Lake City, announced its presentation at the H.C. Wainwright 24th Annual Global Investment Conference in New York City. The presentation is scheduled for September 14, 2022, at 11:00 am ET. PolarityTE specializes in developing regenerative tissue products and biomaterials, with its flagship product, SkinTE, currently under investigational use and pending pivotal studies for FDA approval. For more details, visit www.PolarityTE.com.

On September 8, 2022, PolarityTE (Nasdaq: PTE) announced the immediate resignation of Jeff Dyer, PhD, from its Board of Directors. Dyer thanked the management for their efforts in advancing PolarityTE's IND application for SkinTE® and clinical trial processes. CEO Richard Hague acknowledged Dyer's contributions over the past five and a half years, particularly in securing FDA acceptance for SkinTE® and initiating a clinical trial for diabetic foot ulcers. The company continues to pursue pivotal studies for SkinTE® required for a biologics license application.

PolarityTE, a biotech firm focusing on regenerative tissue products, hosted a conference call on August 11, 2022, to discuss its Q2 financial results and business updates. As of June 30, 2022, the company reported a cash reserve of $20.5 million and working capital of $19.4 million. Key highlights included the FDA's January approval for human clinical trials for its SkinTE product and the RMAT designation granted in May, which accelerates the development process for diabetic foot ulcer indications. The company does not expect revenue from operations for the foreseeable future due to previous business ceases and ongoing restructuring.

PolarityTE (NASDAQ: PTE) announced it will release its financial results for the quarter ended June 30, 2022, on August 11, 2022, at approximately 4:05 p.m. ET. A conference call will follow at 4:30 p.m. ET, accessible by dialing 1-800-207-0148 with passcode 893469. The company is developing regenerative tissue products, including SkinTE®, which is under FDA review. The earnings call will be available via a webcast. Investors can access a replay of the call for 30 days post-event on PolarityTE's website.

PolarityTE, Inc. (Nasdaq: PTE) announced the sale of 1,584,159 shares of common stock at $2.525 per share in a registered direct offering and a private placement, totaling approximately $8.0 million in gross proceeds. The offerings, expected to close on or about June 8, 2022, include unregistered preferred investment options for the investor to purchase up to 3,168,318 shares at $2.40 each. The proceeds will be utilized for general corporate purposes and R&D expenses.

PolarityTE, Inc. (Nasdaq: PTE) announced that CEO Richard Hague and Chief Scientific Officer Nikolai Sopko will present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022, in Miami and virtually. Their presentation will be available on-demand on May 24, 2022, at 7:00 AM Eastern Time. PolarityTE is focused on developing regenerative tissue products, with its first product, SkinTE®, under an investigational new drug application with the FDA for chronic cutaneous ulcers. For more information, visit H.C. Wainwright Conference.

PolarityTE, Inc. (Nasdaq: PTE) announced a 1-for-25 reverse stock split effective May 16, 2022, at 4:15 p.m. Eastern Time. This decision follows stockholder approval on May 12, 2022. The reverse split aims to reduce outstanding shares from approximately 100 million to 4 million to meet the $1.00 minimum bid price requirement for Nasdaq listing. The new CUSIP number for the common stock is 731094 207. This corporate action also addresses obligations under a Securities Purchase Agreement dated March 15, 2022.