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PolarityTE's Trial on SkinTE For Diabetic Foot Ulcers Meets Primary, Secondary Endpoints; Shares Rise Pre-Bell

05/10/2021 05:10

08:58 AM EDT, 05/10/2021 (MT Newswires) -- PolarityTE (PTE) said Monday its trial evaluating SkinTE plus standard of care as a potential treatment for diabetic foot ulcers has met both its primary and secondary endpoints.

Based on the preliminary results, 70% of patients receiving SkinTE plus the standard of care had wound closure at 12 weeks, compared with 34% of the patients that have wound closure receiving only the standard of care. The percent area reduction at 12 weeks was also significantly greater for the SkinTE plus standard of care patient group at 84.4%, versus the standard of care patient group at 53.5%.

Shares of the biotech company rose more than 28% ahead of Monday's market open.

Price: 1.2500, Change: +0.28, Percent Change: +28.31