Humacyte Inc · Q4 2023 earnings

Briefing

Announced financial results for the fourth quarter and year ended December 31, 2023, and highlighted recent corporate accomplishments.

Humacyte reported no revenue for Q4 2023, research and development expenses of $20.2 million, general and administrative expenses of $6.0 million, and a net loss of $25.1 million. The company's BLA for HAV was accepted by the FDA and granted priority review. They raised approximately $43.1 million in net proceeds from a public offering of common stock.

• Biologics License Application (BLA) for HAV™ Accepted by FDA on February 8, 2024.
• BLA Granted Priority Review for Vascular Trauma Indication; PDUFA date set for August 10, 2024.
• Raised approximately $43.1 million in net proceeds from public offering of common stock.
• The Company reported cash and cash equivalents of $80.4 million as of December 31, 2023.

Headline financials

Revenue & EPS history

Humacyte believes that its cash and cash equivalents, including net proceeds from the March offering and additional draw under the Oberland funding arrangement, will be adequate to finance operations for at least 12 months from the date of this financial report, well past the currently anticipated timelines for FDA approval of commercialization of the HAV in the vascular trauma indication.