An investigation for investors in PolarityTE, Inc. (NASDAQ:PTE) shares over potential securities laws violations by PolarityTE, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/09/2021 -- An investigation over potential securities laws violations by PolarityTE, Inc. in connection with certain financial statements was announced.
Investors who purchased shares of PolarityTE, Inc. (NASDAQ: PTE), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by PolarityTE, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Salt Lake City, UT based PolarityTE, Inc., a biotechnology company, develops and commercializes a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States.
On August 24, 2021, PolarityTE, Inc. issued a press release "provid[ing] an update regarding correspondence from the U.S. Food and Drug Administration (FDA) related to its Investigational New Drug Application (IND) for SkinTE® with a proposed indication for chronic cutaneous ulcers, which was filed on July 23, 2021. The FDA provided feedback that certain Chemistry, Manufacturing, and Control (CMC) items need to be addressed prior to proceeding with a pivotal study. As a result, the study proposed in the IND has been placed on clinical hold. In accordance with standard practice and regulations, the FDA has advised that it will issue a clinical hold letter providing details on the basis for the hold to the Company by September 21, 2021."
Shares of PolarityTE, Inc. (NASDAQ: PTE) declined to $0.64 per share on August 24, 2021.
Those who purchased shares of PolarityTE, Inc. (NASDAQ: PTE) have certain options and should contact the Shareholders Foundation.
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