Humacyte Inc (NASDAQ:HUMA) saw its shares retreat by about 6% in after-hours trading Wednesday after the company announced it had launched an underwritten public offering of common stock.
The commercial-stage biotechnology firm said it has commenced the offering and that the shares in the transaction will be sold by Humacyte. In addition, the company stated it plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.
Underwriting and market conditions
Barclays, BTIG and Titan Partners, a division of American Capital Partners, are named as joint book-running managers for the offering. Humacyte noted that the offering is subject to market conditions and emphasized that there is no assurance the offering will be completed or what the final terms will be.
Planned use of proceeds
According to the company, net proceeds from the offering are intended to support several named priorities. The primary use cited is funding the commercialization of Symvess, Humacyte’s first FDA-approved product, which the company says launched in the United States during the first quarter of 2025. The funds are also designated to support a planned Biologics License Application supplement filing seeking a hemodialysis indication, continued development of pipeline product candidates, and for working capital and general corporate purposes.
Business overview
Humacyte describes itself as a developer of universally implantable, bioengineered human tissues manufactured at commercial scale. The company’s technology platform focuses on creating off-the-shelf, acellular human tissues intended for the treatment of diseases and conditions across multiple therapeutic areas.
Investors reacted to the financing announcement with a pullback in after-hours trading, reflecting market reassessment of the company’s capital plans. The offering remains conditional on market factors and the finalization of terms with the underwriters.
Note: This report is based solely on the information provided by the company regarding the offering and its intended use of proceeds.