PolarityTE Up 15% After Reporting On Autologous Bone Product

Shares of PolarityTE (COOL), a commercial-stage biotechnology and regenerative biomaterials company focused on discovering, designing and developing a range of regenerative tissue products and biomaterials, are rising after the company announced results demonstrating that the company's autologous bone product in development, OsteoTE, regenerated complex, hierarchically-organized, corticocancellous bone within critically-sized bone defects in standard preclinical large animal models.

OsteoTE not only recapitulated the cortical and cancellous architecture of native uninjured bone, but also regenerated bone with function and composition reflective of native bone, the company said. The OsteoTE product, which utilizes the subject's own bone, is prepared and used to treat the defect in less than 24 hours.

CEO COMMENTARY: "The results of these studies using OsteoTE to treat critically-sized bone defects mirror the significance of those seen with SkinTE, and again confirm that our platform technologies can be successfully used to regenerate complex functional tissues in the most challenging settings," said Denver M. Lough, M.D., Ph.D., Chairman and Chief Executive Officer of PolarityTE. "We believe there are substantial limitations of the existing treatment options across the numerous applications of OsteoTE, including treatment of bone defects and nonhealing bone within craniomaxillofacial, orthopedic, spine, hand, and foot/ankle specialties. We look forward to continued development and commercialization of products that will change the practice of medicine."

PRICE ACTION: Shares of PolarityTE are up 15% to $20.09 in afternoon trading


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