Citron Research is publishing what might our shortest but most damaging report to date. With as little editorial as possible, we will let the FDA deliver the final blow to this saga.
PolarityTE has always had the signs of a stock scheme but now the FDA has proven it. In what might be our shortest yet most damaging report, we finally open the kimono of PolarityTE through the eyes of the FDA.
And we believe the stock is a ZERO.
First let’s give some bullet points for background for those new to the story.
PolarityTE founder created “groundbreaking technology” in less than six months in 2016.
PolarityTE rolled the technology into shell that is controlled buy a nefarious group of stock
PolarityTE lied to investors about having a patent despite being rejected multiple times by the USPTO
PolartityTE spent only $2.3 million on R&D last quarter of which $1.1 million was non-stock-based compensation yet claims to be developing 12 breakthrough tissue platform technologies simultaneously.
The CEO has recently put out press releases about short selling, Seeking Alpha articles, and block trades.
And our favorite:
Despite promising the release of data almost 1.5 years ago PolarityTE has yet to release any peer reviews or conduct clinical trials.
Sound like the company is bullshit?? Of course it does. But now the debate is over.
The FDA has done the work that Wall Street couldn’t do and thankfully they did it before any patients could get hurt.