PolarityTE Announces Public Offering of Common Stock

PolarityTE (Nasdaq:COOL), a commercial-stage biotechnology and regenerative biomaterials company focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products for the fields of medicine, biomedical engineering and material sciences, today announced that it has commenced an underwritten public offering of shares of its common stock.

As quoted in the press release:

In addition, PolarityTE intends to grant the underwriters for the offering a 30-day option to purchase up to an additional 15% of the shares of its common stock at the price to the public, less underwriting discounts and commissions. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

PolarityTE intends to use the net proceeds from the offering for research and development of its products and product candidates, efforts toward commercialization and required registration or approval of its products and product candidates with applicable regulatory authorities and general corporate purposes.

Click here to read the full press release.