POLARITYTE, INC.
polarityte.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2023 10-Q, filed May 12, 2023. Its latest SEC filing is a 8-K from Aug 18, 2023.
10-Q for Q1 FY2023, filed May 12, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Develops SkinTE, a regenerative skin product, and biomaterials for healthcare providers treating wounds, burns, and skin defects.
10-K for FY2022, filed Mar 27, 2023PolarityTE, Inc., headquartered in Salt Lake City, Utah, is a biotechnology company developing regenerative tissue products and…View ↗
The core technology of SkinTE is minimally polarized functional units (“MPFUs”). MPFUs are multi-cellular segments created from a piece of…View ↗
PolarityTE is a clinical stage biotechnology company developing regenerative tissue products and biomaterials. Until the end of April 2022…View ↗
How Did They Make Money?
For preclinical research, third-party customers generally pay part upfront and the rest when contracts are completed; lab-testing customers pay when results are delivered.
10-K for FY2022, filed Mar 27, 2023In the contract services segment, the Company recorded service revenues from the sale of its preclinical research services, which included…View ↗
$814K
-
10-K for FY2022, filed Mar 28, 2023
$814K ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Preclinical Research Services
Recurring
10-K for FY2022, filed Mar 27, 2023 |
100%
FY2019: 55%
|
Preclinical Research Services, FY2022
$814K Sources
|
Recurring |
|
Service
Mix
10-K for FY2022, filed Mar 27, 2023 |
100%
FY2019: 58%
|
Service, FY2022
$814K Sources
|
Mix |
Who Were Their Customers?
When marketed, SkinTE was sold to healthcare providers primarily through direct sales representatives; unrelated third parties contracted for preclinical research and laboratory testing services.
10-K for FY2022, filed Mar 27, 2023
Did Revenues Turn Into Profits?
No. It lost $7.8M in FY2022.
10-K for FY2022, filed Mar 28, 2023
−$22.4MView ↗
10-K for FY2022, filed Mar 28, 2023
−$7.8MView ↗
10-K for FY2022, filed Mar 28, 2023
−$22.6MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2023, filed May 13, 2023
−$4.2MView ↗
- ▲ +13% (Loss)
- vs −$3.8M in Q1 FY2022
-
Aug 18, 2023
Chief financial officer resigns
Jacob Patterson resigned effective immediately to pursue other opportunities.
Sources
8-K, filed Aug 18, 2023
On August 18, 2023, Jacob Patterson, Chief Financial Officer of RegenETP, Inc. (formerly known as PolarityTE, Inc.), a Delaware corporation…View ↗
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Aug 15, 2023
Buyer acquires substantially all company assets
The sale to Grander Acquisition closed, disposing of substantially all the debtors’ assets.
Sources
8-K, filed Aug 15, 2023
As previously disclosed, on June 6, 2023, PolarityTE, Inc., a Delaware corporation (the “Company”), and its subsidiaries, PolarityTE, Inc.…View ↗
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Jul 7, 2023
Nasdaq says it will delist the common stock
The stock traded on the over-the-counter market after trading on Nasdaq was suspended.
Sources
8-K, filed Jul 7, 2023
On June 30, 2023, PolarityTE, Inc. (the “Company”) was notified by the Nasdaq Stock Market (“Nasdaq”) that it will delist the common stock…View ↗
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Jun 7, 2023
Company files for Chapter 11 bankruptcy
The company and subsidiaries filed voluntary petitions and planned to continue operating as debtors-in-possession.
Sources
8-K, filed Jun 7, 2023
On June 6, 2023, PolarityTE, Inc., a Delaware corporation (the “Company”), and its subsidiaries, PolarityTE, Inc., a Nevada Corporation…View ↗
From commercialization to clinical development
The older report described SkinTE as commercially available and planned continued commercialization; the latest describes it as undergoing FDA studies, with marketing planned only after FDA licensure.
10-K for FY2019, filed Mar 12, 2020 10-K for FY2022, filed Mar 27, 2023
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