PolarityTE Fights Back
PolarityTE is an interesting new skin (and hair) regeneration company that I have covered on this blog several times during the past year. My main reason for taking the company seriously has been due to its highly experienced staff (including doctors, surgeons and research scientists). Moreover, a few months ago, they even showed an image of a balding scalp regrowing hair on their website. This has since been removed, but I discussed it in this post.
PolarityTE’s main product is known as SkinTE, which supposedly grows new hair-bearing skin. According to the company:
“SkinTE has resulted in regenerative full-thickness healing of skin with all its layers (epidermis, dermis and hypodermis) and its appendages (hair follicles, glands, etc.).”
PolarityTE Responds to Citron Research
On September 18th, the company’s stock market ticker symbol was changed from “COOL” to “PTE”.
Earlier this week, Citron Research published a highly critical article about PTE on its home page. This article remains there as of today, and is described as being “what might (be) our shortest but most damaging report to date”.
Several of the conclusions are pretty wild, with the following being the most striking:
“And we believe the stock is a ZERO.”
Although the title of the above article is:
“PolarityTE: This Game Is Over! Price Target — $2”
So maybe not $0?
Several days ago, PolarityTE decided to respond to all these allegations on their website. They accuse Citron Research of being a tool used by “notorious short sellers”.
Citron’s founder Andrew Left supposedly focuses his coverage on companies that he believes are overvalued or are engaging in fraud. There has also been some unusual trading activity around PTE in recent weeks.
I know that many of this blog’s readers purchase stocks in hair loss related companies. I would be pretty cautious about all companies involved in this sector. Especially when it comes to newer start-ups that largely rely on one or two products and their future success.
In related news:
- Restoration Robotics (HAIR) stock is down 75 percent in the past year. The company makes the renowned ARTAS robotic hair transplantation system. Maybe this lawsuit is partly to blame?
- Aclaris Therapeutics (ACRS) stock is down over 50 percent during the past year.
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