U.S. Markets open in 7 hrs 13 mins

PolarityTE Shares Rally On Positive Readout From Skin Graft Study In Diabetic Foot Ulcers

Shanthi Rexaline

Polarityte Inc (NASDAQ: PTE) shares were seeing an upward bounce Monday in reaction to a clinical trial readout at the American Diabetes Association's 79th Scientific Sessions conference.

What Happened

PolarityTE presented final results from a pilot study on the use of its SkinTE product for hard-to-treat diabetic foot ulcers, or DFUs, as a poster, which showed that 10 of the 11 patients evaluated in the study had healed DFUs within eight weeks of SkinTE application, with a mean time to heal of 29.7 days.

SkinTE is an autologous, homologous human cellular and tissue-based product capable of regenerating full-thickness, functional skin for the repair, reconstruction and replacement of a patient's own skin.

One patient was removed from the study at week three due to adverse events not related to the study or SkinTE procedure, the company said. 

Why It's Important

Despite the presence of numerous products in the market, DFUs are challenging for patients, as most treatments do not produce good outcomes.

"In this study, some of the most challenging wounds in the chronic wound-care market healed after a single application of SkinTE, where other standard treatments had failed," PolarityTE Chief Scientific Officer Nikolai Sopko said in a statement. 

What Next

PolaityTE said the abstract will be published in the online supplement to the journal Diabetes later this year.

The stock was trading higher by 10.27 percent at $6.44 at the time of publication Monday. 

Related Links:

The Week Ahead In Biotech: Conferences, PDUFA Dates And Clinical Trial Readouts

Sanofi's Leadership Transition: What You Need To Know

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.