PolarityTE, Inc. Regains Compliance With NASDAQ Independent Director Requirement

SALT LAKE CITY, April 25, 2018 -- PolarityTE, Inc. (Nasdaq:COOL) today announced it has received formal notification from the Listing Qualifications Department of The NASDAQ Stock Market ("NASDAQ") notifying PolarityTE that it has regained compliance with Listing Rules 5605(b)(1) and 5605(c)(2), the independent director requirement for continued listing on The NASDAQ Stock Market, with the appointment of Mr. Willie Bogan, and that the matter is now closed. PolarityTE’s common stock will continue to be listed on The NASDAQ Capital Market.  

On November 1, 2017, NASDAQ notified the Company that it did not comply with the independent director requirement for continued listing on The Nasdaq Capital Market set forth in Listing Rules 5605(b)(1) and 5605(c)(2). The Rule requires that a majority of the directors comprising the Company’s Board of Directors be considered “independent,” as defined under the Rule. On April 23, 2018, NASDAQ provided confirmation to the Company of the foregoing and that the Company has regained compliance with Listing Rules 5605(b)(1) and 5605(c)(2).

About PolarityTE™
PolarityTE is 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 and biomaterials for the fields of medicine, biomedical engineering and material sciences. The PolarityTE platform technology begins with a small piece of the patient’s own, or autologous, healthy tissue, rather than artificially manipulated individual cells. From this small piece of healthy autologous tissue, the company creates an easily deployable, dynamic and self-propagating product designed to enhance and stimulate the patient’s own cells to regenerate the target tissues. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures with the patient’s own tissue and uses the patient’s own body to support the regenerative process to create the same tissue from which it was derived. PolarityTE’s innovative method is intended to promote and accelerate growth of the patient’s tissues to undergo a form of effective regenerative healing.

Forward Looking Statements
Certain statements contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements contained in this release relate to, among other things, the Company’s ongoing compliance with the requirements of The NASDAQ Stock Market and the Company’s ability to maintain the closing bid price requirements of The NASDAQ Stock Market on a post reverse split basis. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “intend,” “plan,” “will,” “would,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Our actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov).

CONTACT

Investors:
John Stetson
[email protected] 
(385) 237-2365

Hans Vitzthum
LifeSci Advisors, LLC
[email protected]
(617) 535-7743

Media:
David Schull
Russo Partners LLC
[email protected]
(858) 717-2310

Jenna Mathis
[email protected] 
(610) 751-3985