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      PolarityTE Inc. (PTE) stock Bounces Back After Hours Following its Descent to New Low - Stocks Telegraph

      By Gule Rukhsar

      Published on

      April 12, 2022

      4:36 AM UTC

      PolarityTE Inc. (PTE) stock Bounces Back After Hours Following its Descent to New Low - Stocks Telegraph

      The regenerative tissue and biomaterials developer, PolarityTE Inc. (PTE) finally made a comeback in the after-hours on April 11, 2022. The stock had been in a long downtrend which culminated in its new 52-week in the prior session. Thus, after closing the regular session near the new low, PTE rebounded and rose by 42.67% in the after-hours. PTE then reached a value of $0.2999 per share at the end of the day.

      Source: Under the Radar

      What Happened with PTE?

      PTE stock had been in a downtrend well before the company shared not-so-impressive earnings on March 30, for the fiscal year 2021. Having declined by over 40% last month and nearly 14% in the past five days alone, the stock was posing for a comeback. Given that there is no other news from the company, the rebound was effectuated by external factors. It seems social media discussions and stock sentiment etc instigated the investors to buy the dip in the stock. Thus, as investors began to purchase the dip, the stock rebounded and surged up in late trading on Monday.

      Additionally, a recent SEC filing reported the date of its Special Meeting of Stockholders for effectuating a reverse stock split in order to regain compliance with Nasdaq listing rules. Other proposals up for a vote in the meeting include the election of class II directors, compensation of executive officers, and ratification of the appointment of PTE’s independent public accountant. The meeting will be held on May 12, 2022, at 10:00 a.m. Mountain Daylight Time.

      Market Outlook

      The wider global regenerative market, as well as the biomaterials segment, are both projected for a bullish outlook in the future. The global biomaterial market is expected to reach $47.5 billion by 2025 at a CAGR of 6.0% from 2020. While the increased funds and grants by government bodies and universities are contributing factors to the growth of the segment the stringent clinical and regulatory processes on the other hand are a restraint. Moreover, the growing healthcare market in emerging economies is expected to boost the segment growth.

      PTE’s Position & Future

      Although the emerging market of biomaterials is full of opportunities, PTE’s growth and future depend on the company’s PIPE and regulatory development. The company has been facing substantial operating losses since the beginning of 2017 with a regulatory clash with the FDA also on reports. Hence, the company then commenced a wind-down of its SkinTE commercial operations as a 361 HCT/P in 2021 and submitted IND after resolving the issues identified by the FDA. Currently, the company is on track to bringing its SkinTE to the clinic for use once again.

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