Cantor Fitzgerald analyst Kristen Kluska reiterates an Overweight rating on PolarityTE with a $13 price target. On January 9, a publication featuring the use of SkinTE was published in Plastic Surgery Case Studies, and on January 13, an interview regarding separate use of SkinTE was published in Utah Business, Kluska tells investors in a research note. These case studies demonstrate the positive effects of SkinTE as a first-line therapy in large wounds, an effective solution where other invasive surgical techniques have failed, also in large wounds, and the functionality component of SkinTE.
On December 10, 2019, PolarityTE, Inc. (Nasdaq: PTE) announced that the company has recently been granted a patent in New Zealand and has received approvals for patent applications in the United Kingdom and Australia. The grant of PolarityTE’s Canadian patent was announced in August, bringing the total number of patents and approvals in 2019 to four. These developments demonstrate the momentum of PolarityTE’s ongoing efforts to develop, support and protect its intellectual property.
The New Zealand patent and the UK and Australian patent acceptances relate to PolarityTE’s distinctive micro-aggregate technology. Aspects of this micro-aggregate technology are central to the Company’s SkinTE™ product, which is commercially available in the United States for the repair, replacement, reconstruction or supplementation of skin tissue in wound, trauma and burn patients.
“These additional approvals demonstrate the advancement of our patent procurement efforts and the value of our tissue regeneration technology,” said Jennifer Burdman, Chief Intellectual Property Officer at PolarityTE. “The patent grants we’ve obtained this year demonstrate the ongoing success of our strategy to build out PolarityTE’s IP portfolio. We value the impressive innovation of the PolarityTE team and will continue to invest in the protection of these important assets.”
The New Zealand patent was granted as number 733433 on December 5, 2019. The applications that have been approved and will soon be issued as granted patents are United Kingdom Patent Application No. GB1902819.0 and Australian Patent Application No. 2015355187. PolarityTE continues to pursue patent protection related to its micro-aggregate technology in the United States and internationally. Additional technologies invented by the Company are being pursued in patent applications in the U.S. and abroad.
PolarityTE President David Seaburg added, “We are pleased to see that our intellectual property portfolio continues to gain strength. Validating our innovative technology is part of our ongoing commitment to change the lives of patients with our current SkinTE product and the other products that are part of our pipeline.”