Humacyte eyes Symvess expansion

Humacyte (Nasdaq: HUMA) reported Q1 2025 financial results and key business updates. The company achieved a major milestone with the commercial launch of Symvess™, its bioengineered vascular tissue product, generating first commercial sales of $147,000. Total revenue was $517,000, including $370,000 from a research collaboration. The company completed a $46.7 million public offering and implemented cost reductions, including a workforce reduction of 31 employees, targeting savings of $13.8 million in 2025 and up to $38 million in 2026. Currently, 45 hospitals have initiated the Value Analysis Committee approval process for Symvess, representing about 25% of all Level 1 trauma centers. The company reported net income of $39.1 million for Q1 2025, compared to a net loss of $31.9 million in Q1 2024, primarily due to non-cash remeasurement of contingent earnout liability. Cash position stood at $113.2 million as of March 31, 2025.

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