PolarityTE (NASDAQ:PTE) was one of the most popular tickers on Tuesday after the stock nearly doubled in value. It’s said that a series of large transactions followed by social media buzz created the surge rather than a single event. I’m glad this stock has finally gained the traction it deserves after an unjustified patchy period.
PTE’s central aim is to address the diabetic wound care market. Its pilot product, SkinTE, recently gained Food and Drug Administration (FDA) approval for a Phase 3 study that would see the drug tested for “Chronic Cutaneous Ulcer Indication.” As a result, we could see PolarityTE up the ante for the drug’s commercial use after winding down in 2021 after various regulatory clashes with the FDA ramped up operating costs.
The post PTE Stock Is Rocketing Nearly 100% Today. It’s About Time originally appeared at InvestorPlace.