- Humacyte is looking to sell 25 million shares in order to raise $20 million.
- The company said it plans to use the proceeds to support the commercialization of Symvess for vascular trauma.
- Humacyte also agreed not to pursue other commercialization negotiations in Saudi Arabia until July 2026.
Shares of Humacyte, Inc. (HUMA) tanked more than 20% to an all-time low on Thursday, after the company announced a $20 million fundraising at a significant discount to the stock’s closing price a day earlier.
Simultaneously, the company also announced a $1.5 million minimum purchase commitment from Saudi Arabia for its Symvess, a bioengineered, off-the-shelf human blood vessel.
Humacyte signed a new securities purchase agreement with several new institutional investors to sell 25 million shares of common stock in a registered direct offering. The deal is expected to generate gross proceeds of about $20 million and is slated to close around March 20, 2026. This translates to $0.80 per share, a 25% discount to the stock’s Wednesday closing price of $1.06.
The company added that it plans to use the proceeds to support the commercialization of Symvess for vascular trauma, advance a Biologics License Application (BLA) supplement for hemodialysis use, and fund ongoing clinical and pipeline development programs.
Humacyte Is In Talks To Form JV In Saudi Arabia
Humacyte said the order will support a clinical evaluation and outreach program in hospitals across Saudi Arabia. The company is also in talks to form a joint venture and secure commercialization rights for Symvess in the country.
Humacyte will train local medical professionals to use the product and has agreed not to pursue any other commercialization negotiations in Saudi Arabia until July 2026. While Symvess is FDA-approved for the treatment of extremity vascular trauma, other uses remain investigational.
“The clinical evaluation and outreach program is designed to build awareness and understanding of the Symvess technology among healthcare providers as we pursue regulatory approval and prepare for potential commercial launch in the KSA,” said Laura Niklason, Founder and CEO of Humacyte.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits remained in the ‘bearish’ territory over the past 24 hours.
One user believes HUMA is a “great candidate” for a reverse stock split.
Another user expects the stock to fall to $0.3. It is currently trading around $0.8.
Year-to-date, the stock has declined around 10%.
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