POLARITYTE, INC. (NASDAQ:COOL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.

Effective February 8, 2017, Michael Brauser, a Class II director
and Barry Honig, a Class III director resigned as members of
PolarityTE, Inc.s (the Companys) Board of Directors (the Board).
Mr. Brauser also resigned as a member of each of the Boards
Audit, Compensation and Nominating and Corporate Governance
Committees. Each director resignation was not the result from any
disagreement with the Company, any matter related to the Companys
operations, policies or practices, the Companys management or the
Board.

On February 8, 2017, the Board appointed Steve Gorlin as a Class
II director with a term expiring in 2019 and Dr. Jon Mogford as a
Class III director with a term expiring in 2017 to fill vacancies
created upon the resignations of Messrs. Brauser and Honig. In
addition, Mr. Gorlin was appointed as a member of each of the
Boards Audit, Compensation and Nominating and Corporate
Governance Committees. Each of Mr. Gorlin and Dr. Mogford are
deemed an independent director as such term is defined by the
rules of The NASDAQ Stock Market LLC. There are no family
relationships between either of Mr. Gorlin and Dr. Mogford and
any of our other officers and directors. Mr. Gorlin and Dr.
Mogford were each granted (i) an option to purchase up to 50,000
shares of the Companys common stock at an exercise price equal to
$4.72 per share (the Options) which Options will vest in 24 equal
monthly installments commencing on the one month anniversary of
the grant date and (ii) a restricted stock award of 50,000 shares
of common stock that will vest in 24 equal monthly installments
commencing on the one month anniversary of the grant date (the
RSUs). The Options and the RSUs were granted to the Companys 2017
Equity Incentive Plan (the 2017 Plan) and the 2017 Plan, the
vesting and the exercise of the Options and the vesting of the
RSUs are subject to stockholder approval.

Set forth below is the biographical information of the newly
appointed directors, as required by Item 401 of Regulation S-K.

Steve Gorlin, 79, has founded several
biotechnology and pharmaceutical companies over the past 40
years, including Hycor Biomedical, Inc. (acquired by Agilent),
Theragenics Corporation (NYSE: TGX), CytRx Corporation (NASDAQ:
CYTR), Medicis Pharmaceutical Corporation (acquired by Valeant),
EntreMed, Inc. (NASDAQ: ENMD), MRI Interventions, DARA
BioSciences, Inc. (NASDAQ: DARA), MiMedx Group, Inc. (NASDAQ:
MDXG), and Medivation, Inc. (NASDAQ: MDVN). Since December 2014,
Mr. Gorlin has served as a director of Catasys, Inc. and
Co-Chairman of the board of directors of Medovex, Inc., and since
May 2011 he has served on the board of directors of NTC China,
Inc. In addition, since 2011, Mr. Gorlin has served as a member
of the board of directors of DemeRX, Inc. (DemeRX) and from 2011
until 2012 he served as Chairman of the board of DemeRX. Since
July 2015, he has also served as Vice Chairman of the board of
NantKwest, Inc. and from July 2013 until May 2015 he served on
various executive committees and the board of directors of
Conkwest, Inc., a private company, which is now NantKwest, Inc.
From November 2006 until June 2013, Mr. Gorlin served as a member
of the board of directors of MiMedx Group, Inc. From 2010 until
2014 Mr. Gorlin served on the Business Advisory Council to the
Johns Hopkins School of Medicine, from 2011 until 2013 he served
on The Johns Hopkins BioMedical Engineering Advisory Board and
from 2007 until 2011 he served on the Board of the Andrews
Institute. He is presently a member of the Research Institute
Advisory Committee (RIAC) of Massachusetts General Hospital. Mr.
Gorlin founded a number of non-medical related companies,
including Perma-Fix, Inc., Pretty Good Privacy, Inc. (sold to
Network Associates), Judicial Correction Services, Inc. (sold to
Correctional Healthcare) and NTC China, Inc. He started The Touch
Foundation, a nonprofit organization for the blind and was a
principal financial contributor to the founding of Camp Kudzu for
diabetic children. Mr. Gorlin is qualified to serve as a member
of the Companys Board because of his experience in regenerative
medicine and pharmaceutical drug and medical device research and
development.

Dr. Jon Mogford, 48, has served in
various capacities for the Texas AM University System (Texas AM).
Since May 2013, Dr. Mogford has served as the Vice Chancellor for
Research, from August 2012 until April 2013 he served as the
Chief Research Officer and from November 2011 until August 2012
he served as Associate Vice Chancellor for Strategic Initiatives
at Texas AM. Prior to joining the Texas AM in 2011, from February
2010 until October 2011, Dr. Mogford served as Deputy Director of
the Defense Sciences Office (DSO) of the Defense Advanced
Research Projects Agency (DARPA) in the U.S. Department of
Defense. From July 2005 until January 2009, Dr. Mogford served as
Program Manager of DSO of DARPA. In addition, since November
2016, Dr. Mogford has served as a member of the board of
directors of Medovex Corp. Dr. Mogford is the recipient of the
Secretary of Defense Medal for Outstanding Public Service. Dr.
Mogford obtained his bachelors degree in Zoology from Texas AM
University and doctorate in Medical Physiology from the Texas AM
University Health Science Center, College Station, Texas. His
research in vascular physiology continued at the University of
Chicago as a Postdoctoral fellow from 1997 until 1998. Dr.
Mogford transitioned his research focus to the field of wound
healing at Northwestern University, both as a Research Associate
and also as a Research Assistant Professor from 1998 until 2003.
He then served as a Life Sciences Consultant to DARPA on the
Revolutionizing Prosthetics program from December 2003 until June
2005. Dr. Mogford is qualified to serve as a member of the
Companys Board because of his experience and research in
regenerative medicine.

ITEM 8.01 OTHER EVENTS

On February 9, 2017, the Company issued a press release regarding
Steve Gorlins appointment as a member of the Board. A copy of the
press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits listed in the following Exhibit Index are filed as
part of this Current Report on Form 8-K.

About POLARITYTE, INC. (NASDAQ:COOL)

PolarityTE, Inc., formerly Majesco Entertainment Company, is a technology company. The Company has developed, marketed, published and distributed software through online platforms. The Company develops applications for gaming on computers, handheld devices and game consoles. The Company is the owner of patent applications and know-how related to regenerative medicine and tissue engineering, as well as software applications used in diagnosis and treatment related to regenerative medicine. It seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves. Its PolarityTE platform simplifies regeneration and allows cells to function naturally. The platform can be applied across all cells, tissues and composite structures. Its platform induces cell and tissue polarity, and creates functional tissue that mirrors natural development in the human body.

POLARITYTE, INC. (NASDAQ:COOL) Recent Trading Information

POLARITYTE, INC. (NASDAQ:COOL) closed its last trading session up +0.42 at 5.04 with 78,453 shares trading hands.