Humacyte (NASDAQ:HUMA) unveils Q1 earnings & HAV™ FDA milestone
Full story: https://grafa.com/news/humacyte--nasdaq-huma--unveils-q1-earnings---hav--fda-milestone-220871 Humacyte (NASDAQ:HUMA) has released its financial results for the first quarter ended March 31, 2024, and provided updates on significant business developments. During the quarter, the company reported cash and cash equivalents of $115.5 million. Total net cash provided during the period was $35.1 million, a substantial improvement from the $20.2 million net cash used in the same period of 2023. This boost in net cash was largely due to the receipt of approximately $43
Humacyte, Inc. engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs). Its investigational HAVs are designed to be easily implanted into any patient without inducing a foreign body response or leading to immune rejection. The company is developing a portfolio of HAVs, which would target the vascular repair, reconstruction, and replacement market, including vascular trauma; arteriovenous access for hemodialysis; peripheral arterial disease; and coronary artery bypass grafting, as well as developing its HAVs for pediatric heart surgery and cellular therapy delivery, including pancreatic islet cell transplantation to treat Type 1 diabetes. The company was founded in 2004 and is headquartered in Durham, North Carolina.