PolarityTE Announces Formation of Strategic Review Committee
January 11 2021 - 8:00AM
Business Wire
PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company
developing regenerative tissue products and biomaterials, announced
today that the Board of Directors has formed a strategic review
committee with a view to enhancing shareholder value. The committee
will focus on reviewing operational strategies and practices that
advance the regulatory process for SkinTE and future financings, if
any, that may be helpful in advancing the Company’s strategies and
making recommendations to the Board. The committee also has the
authority to review the Company’s potential strategic opportunities
and transactions that may arise in the future and make
recommendations to the Board regarding those matters, as
appropriate.
Peter Cohen, Chairman of the Board, commented, “The Board of
Directors is committed to maximizing shareholder value and believes
the Company’s lead asset, SkinTE, offers tremendous benefits to
patients suffering from debilitating wounds.” Mr. Cohen continued,
“The Board believes that, working with the FDA, the pursuit of a
BLA for SkinTE is the right path to improving shareholder value in
the future.”
About PolarityTE®
PolarityTE is focused on transforming the lives of patients by
discovering, designing, and developing a range of regenerative
tissue products and biomaterials for the fields of medicine,
biomedical engineering and material sciences. Rather than
manufacturing with synthetic and foreign materials within
artificially engineered environments, PolarityTE manufactures
products from the patient's own tissue and uses the patient's own
body to support the regenerative process. From a small piece of
healthy autologous tissue, the company creates an easily
deployable, dynamic, and self-propagating product designed to
regenerate the target tissues. PolarityTE's innovative methods are
intended to promote and accelerate growth of the patient's tissues
to undergo a form of effective regenerative healing.
Forward Looking Statements
Certain statements contained in this release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. They are generally
identified by words such as "believes," "may," "expects,"
"anticipates," "intend," "plan," "will," "would," "should" and
similar expressions and include statements about the completion of
the registered direct offering, the satisfaction of customary
closing conditions related to the offering and the intended use of
net proceeds from the offering. Readers should not place undue
reliance on such forward-looking statements, which are based upon
the Company's beliefs and assumptions as of the date of this
release. The Company's actual results could differ materially due
to the impact of the COVID-19 pandemic and FDA regulatory matters,
which cannot be predicted, and the risk factors and other items
described in more detail in the "Risk Factors" section of the
Company's Annual Reports and other filings with the SEC (copies of
which may be obtained at www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law. Our actual results
could differ materially due to risk factors and other items
described in more detail in the "Risk Factors" section of the
Company's Annual Reports and other filings with the SEC (copies of
which may be obtained at www.sec.gov).
POLARITYTE, the POLARITYTE logo, SKINTE, WHERE SELF REGENERATES
SELF and WELCOME TO THE SHIFT are trademarks or registered
trademarks of PolarityTE, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20210111005280/en/
Investors: Rich Haerle VP, Investor Relations PolarityTE,
Inc. ir@PolarityTE.com (385) 315-0697
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