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PolarityTE Announces Public Offering of Common Stock and Warrants

PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing and commercializing regenerative tissue products and biomaterials, today announced that it has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of its common stock.

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

PolarityTE intends to use the net proceeds from the offering for commercialization of SkinTE, research, development and manufacturing 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 for other general corporate purposes, and may also use net proceeds to pursue strategic relationships that enhance its technology offerings through joint development or licensing arrangements or acquisitions, though the company does not currently have agreements or commitments with respect to any such arrangements or acquisitions.

The offering will be made only by means of a prospectus supplement to PolarityTE’s prospectus, dated February 22, 2019, filed as part of PolarityTE’s registration statement (File No. 333-229584) that was declared effective by the Securities and Exchange Commission (SEC). Copies of the preliminary prospectus supplement, the final prospectus supplement (when available) and the prospectus relating to this offering may be obtained from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th Floor, New York, NY 10022 or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PolarityTE®

PolarityTE is 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. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures products from the patient's own tissue and uses the patient's own body to support the regenerative process. From a small piece of healthy autologous tissue, the company creates an easily deployable, dynamic and self-propagating product designed to regenerate the target tissues. 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. 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. Examples of forward-looking statements contained in this release include statements about the Company’s use of proceeds from the proposed offering. 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.

POLARITYTE, the POLARITYTE logo, WHERE SELF REGENERATES SELF, and WELCOME TO THE SHIFT are trademarks or registered trademarks of PolarityTE, Inc.

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Contacts

Investors:
Rich Haerle
VP, Investor Relations
PolarityTE, Inc.
ir@PolarityTE.com
(385) 315-0697

Media:
Angela Ziegler
VP, Marketing and Public Relations
PolarityTE, Inc.
AngelaZiegler@polarityte.com
(385) 239-0363