In December of 2016, it was announced that Majesco Entertainment Inc. would be merging with the relatively unknown PolarityTE Inc. At the time, Majesco was in a precarious situation. The company’s stock had plummeted after a 1-for-6 reverse split. In November of 2016, the stock dropped below $3.00 per share. Nevertheless, it has become clear that the company’s reverse split and subsequent actions were well received. COOL stock ticked higher after announcing the PolarityTE merger on December the 8th. Stockholders have now approved the merger and PolarityTE’s stock has continually climbed higher. During the trading period on Monday, April the 3rd, COOL stock started the day around $14. It climbed as high at 18.74, before finally closing at 16.55. For the day, the stock gained 21.07% or 2.88.
On March the 29th, insider Dyer Jeffrey Hansen purchased 8,052 shares of the stock at an average price of $10.75 per share. Since Majesco has been enveloped by PolarityTE, the company has continued to add qualified specialists to their team, while simultaneously filling their Board of Directors.
- January 9, 2017 – PolarityTE adds surgical leaders to their Clinic Advisory Board. Those added included Michael L Bentz, Ryan Katz, and Rachel Bluebond-Langner.
- February 9, 2017 – Steve Gorlin is added to PolarityTE’s Board of Directors.
- February 16, 2017 – Jon Mogord PhD is appointed to PolarityTE Board of Directors.
- February 28, 2017 – Burke Powers becomes Vice President of Product Development. Mr. Powers has over 17 years of experience working with companies, such as JetBlue, PayPal and IBM.
- March 8, 2017 – MBA, PhD, and expert in business strategy, Jeff Dyer, is appointed to Broad of Directors.
- March 27, 2017 – Former Professor of Plastic and Reconstructive Surgery and Pediatric and Director of the Burn Center at John Hopkins, Dr. Stephen Milner, is appointed as Chief Clinical Officer.
PolarityTE is currently focused on regenerative medicine and tissue engineering. They have several key products in their pipeline. They include the following.
The company’s lead product, SkinTE, is designed to utilize a small sample of the patient’s skin to encourage polarized fully functional skin regeneration. SkinTE will proceed through small animal testing and large animal testing during Q2 and Q3 of 2017. Should everything go according to plan, the human pilot trials will take place in Q3 2017 and SkinTE will receive market entry during the 4th quarter of 2017. The innovative SkinTE platform is capable of regenerating skin with full thickness and full functionality.
Simultaneously, the platform is capable of regenerating all skin layers, hair and appendages. This has never been done before. The company conservatively projects their SkinTE platform could potentially generate $30 million dollars during its first years on the market. PolarityTE’s platform can support sustained growth by delving into every facet of the 57 billion dollar regenerative medicine market.
While Majesco Entertainment was a company often overlooked, PolarityTE could leave a lasting impact. With such a strong team and numerous products in the pipeline, COOL stock should no longer be ignored.