Humacyte sets $2 stock offering, aims for $50 million

DURHAM, N.C. - Humacyte, Inc. (NASDAQ: HUMA), a biotechnology firm with a market capitalization of $369 million, announced an underwritten public offering of 25 million shares at $2 each, aiming to raise $50 million before fees and expenses. The offering price represents a significant discount to the current trading price of $2.88, though the stock has declined 47% over the past six months according to InvestingPro data. The offering, expected to close around March 27, 2025, includes an option for underwriters to buy up to an additional 3.75 million shares.

The company plans to use the proceeds to commercialize its SYMVESS product for vascular trauma, develop other pipeline products, and for general corporate purposes. With a negative EBITDA of $105 million in the last twelve months, the capital raise appears crucial for the company’s operations. The offering follows a shelf registration statement filed and declared effective by the SEC in September 2022.

The securities are offered through a prospectus supplement, part of the registration statement, available on the SEC’s website. TD Cowen, Barclays, and BTIG are managing the offering, with H.C. Wainwright & Co. and The Benchmark Company as lead managers.

Humacyte is known for developing implantable bioengineered human tissues and has received FDA approval for its ATEV product in vascular trauma repair. The company’s ATEV product for other indications remains investigational.

This press release contains forward-looking statements regarding the offering’s closure and use of proceeds, among other aspects. These statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Despite current challenges, analysts maintain optimistic price targets ranging from $6 to $25, suggesting significant potential upside. For comprehensive analysis and additional insights, including 8 key ProTips, visit InvestingPro’s detailed research report. The information is based on a press release statement.

In other recent news, Humacyte, Inc. has initiated a public stock offering to support the commercialization of its bioengineered human tissue product, SYMVESS™, and further develop its product pipeline. This move is part of the company’s strategy to expand its presence in the medical field. The offering is managed by investment banks including TD Cowen and Barclays. Humacyte has also announced the issuance of a U.S. patent for its bioreactor manufacturing system, which is crucial for producing SYMVESS and other bioengineered tissues. This patent extends protection until 2040, securing a competitive edge in the biotechnology sector.

Additionally, the U.S. Food and Drug Administration (FDA) has granted full approval for SYMVESS as a vascular conduit for urgent revascularization in adults, marking a significant milestone for the company. The product has shown promise in reducing costs associated with vascular trauma care, as highlighted in a Budget Impact Model published in the Journal of Medical Economics. Analyst Bruce D. Jackson from Benchmark has maintained a Buy rating for Humacyte, with a $17 price target, citing positive feedback from vascular surgeons and ongoing research partnerships.

In terms of market activities, Humacyte has received quotation requests from hospitals, with several institutions completing the Value Analysis Committee process for SYMVESS. The company’s strategic efforts are supported by a new research collaboration with Trestle Bio to explore bioengineered kidney tissues. These developments underscore Humacyte’s commitment to advancing regenerative medicine and improving patient outcomes through innovative biotechnology solutions.

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