Humacyte Inc · Q3 2022 earnings

Briefing

Humacyte's third quarter 2022 financial results were announced, and the company highlighted progress in clinical development and corporate advancements.

Humacyte reported $31 thousand in revenue for Q3 2022, primarily from grants. The company's net loss was $25.3 million, and they had $171.7 million in cash, cash equivalents, and short-term investments as of September 30, 2022. They anticipate filing their BLA in mid 2023.

• Plans to file a Biologics License Application (BLA) with the U.S. Food and Drug Administration (FDA) for vascular trauma in mid 2023.
• Initiated a research partnership with the Diabetes Research Institute (DRI) to facilitate development of the Biovascular Pancreas (BVP) for severe type 1 diabetes.
• Enrollment is nearing completion in Phase 3 trial of the HAV for arteriovenous (AV) access in hemodialysis patients.
• Continued to strengthen relationship with global partner and shareholder Fresenius Medical Care.

Headline financials

Revenue & EPS history

Humacyte believes that its cash, cash equivalents and short-term investments are adequate to fund operations through 2024, past the Company’s current expected timeline for potential approval of the HAV in vascular trauma.