Humacyte, Inc. (HUMA) Q3 2025 Earnings Call Transcript
Revenue for Q3 2025 $0.8 million, of which $0.7 million related to U.S. sales of Symvess. This is a significant increase compared to no revenue in Q3 2024. The increase is attributed to the commercial launch of Symvess and growing adoption by hospitals and healthcare systems.
Revenue for 9 months ended September 30, 2025 $1.6 million, of which $0.9 million related to U.S. sales of Symvess and $0.6 million from a research collaboration. There was no revenue for the same period in 2024. The increase is due to the commercial launch of Symvess and research collaborations.
Cost of Goods Sold (COGS) for Q3 2025 $0.3 million, compared to no COGS in Q3 2024. This includes overhead related to unused production capacity, reflecting the initial stages of commercial production.
Cost of Goods Sold (COGS) for 9 months ended September 30, 2025 $0.6 million, compared to no COGS in the same period in 2024. This reflects the costs associated with the commercial production of Symvess.
Research and Development (R&D) expenses for Q3 2025 $17.3 million, compared to $22.9 million in Q3 2024. The decrease is primarily due to the capitalization of material and overhead costs for commercial manufacturing and cost reductions implemented earlier in 2025.
Research and Development (R&D) expenses for 9 months ended September 30, 2025 $54.7 million, compared to $67.9 million in the same period in 2024. The decrease is due to reduced material costs, capitalization of inventory expenditures, and the winding down of certain clinical trial programs.
Selling, General, and Administrative (SG&A) expenses for Q3 2025 $7.6 million, compared to $7.3 million in Q3 2024. The increase is attributed to the U.S. commercial launch of Symvess, including increased personnel expenses.
Selling, General, and Administrative (SG&A) expenses for 9 months ended September 30, 2025 $23.6 million, compared to $18.4 million in the same period in 2024. The increase is due to expenses related to the commercial launch of Symvess.
Other Net Income for Q3 2025 $6.9 million, compared to a net expense of $9.0 million in Q3 2024. The increase is primarily due to the noncash remeasurement of the contingent earn-out liability from the 2021 merger.
Other Net Income for 9 months ended September 30, 2025 $61.3 million, compared to a net expense of $41.5 million in the same period in 2024. The increase is due to the noncash remeasurement of the contingent earn-out liability.
Net Loss for Q3 2025 $17.5 million, compared to $39.2 million in Q3 2024. The decrease is due to the noncash remeasurement of the contingent earn-out liability, reduced operating expenses, and a decrease in loss from operations.
Net Loss for 9 months ended September 30, 2025 $16.0 million, compared to $127.8 million in the same period in 2024. The decrease is attributed to the same factors as the quarterly reduction in net loss.
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Humacyte Secures Congressional Funding for Bioengineered Vessels
- Legislative Support: The U.S. Congress passed the FY 2026 DoD Appropriations Act, providing funding for Humacyte's human-derived bioengineered vessel, Symvess, which is expected to enhance the company's market share in treating traumatic vascular injuries.
- Integration Requirement: The bill mandates the DoD to integrate FDA-approved breakthrough vascular repair technologies, ensuring the availability of biologically active vascular conduits when autologous vein harvesting is not feasible, thereby increasing demand for Humacyte's products.
- FDA Approval: In December 2024, the FDA approved Symvess as an implantable vascular conduit for various arterial injury scenarios, marking a significant technological breakthrough for Humacyte and strengthening its competitive position in the medical market.
- CEO Remarks: Humacyte's CEO Laura Niklason stated that this historic federal investment will ensure soldiers have access to cutting-edge treatments, further enhancing the company's strategic position in the defense healthcare sector.
Humacyte Secures DOD Funding for Bioengineered Blood Vessels
- Funding Support: Humacyte Inc. announced that the FY2026 U.S. Department of Defense Appropriations Act includes funding for the procurement of bioengineered blood vessels, aimed at evaluating and integrating biologic vascular repair technologies for warfighters with traumatic vascular injuries.
- Product Uniqueness: Humacyte's Symvess is the only human-derived bioengineered blood vessel approved by the U.S. Food and Drug Administration (FDA), which enhances its competitive edge in the medical device market and positions the company favorably against competitors.
- Stock Price Reaction: Humacyte shares rose nearly 12% in Monday's pre-market trading, reflecting a positive market response to the newly secured funding and product potential, which may attract more investor interest.
- Market Sentiment: Despite the stock price increase, retail sentiment on Stocktwits around Humacyte trended in the 'bearish' territory, indicating a divergence in market perception regarding the company's future performance, which could impact its short-term stock trajectory.
BTIG Affirms Buy Rating on Humacyte, Keeps $6 Price Target Intact
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D. Boral Capital Reiterates Buy Rating on Humacyte with $25 Price Target Intact
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Benchmark Reaffirms Buy Rating on Humacyte, Adjusts Price Target to $11
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, benefiting from shared intelligence.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
D. Boral Capital Reiterates Buy Rating on Humacyte with $25 Price Target Intact
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
Humacyte Secures Congressional Funding for Bioengineered Vessels
- Legislative Support: The U.S. Congress passed the FY 2026 DoD Appropriations Act, providing funding for Humacyte's human-derived bioengineered vessel, Symvess, which is expected to enhance the company's market share in treating traumatic vascular injuries.
- Integration Requirement: The bill mandates the DoD to integrate FDA-approved breakthrough vascular repair technologies, ensuring the availability of biologically active vascular conduits when autologous vein harvesting is not feasible, thereby increasing demand for Humacyte's products.
- FDA Approval: In December 2024, the FDA approved Symvess as an implantable vascular conduit for various arterial injury scenarios, marking a significant technological breakthrough for Humacyte and strengthening its competitive position in the medical market.
- CEO Remarks: Humacyte's CEO Laura Niklason stated that this historic federal investment will ensure soldiers have access to cutting-edge treatments, further enhancing the company's strategic position in the defense healthcare sector.
Humacyte Secures DOD Funding for Bioengineered Blood Vessels
- Funding Support: Humacyte Inc. announced that the FY2026 U.S. Department of Defense Appropriations Act includes funding for the procurement of bioengineered blood vessels, aimed at evaluating and integrating biologic vascular repair technologies for warfighters with traumatic vascular injuries.
- Product Uniqueness: Humacyte's Symvess is the only human-derived bioengineered blood vessel approved by the U.S. Food and Drug Administration (FDA), which enhances its competitive edge in the medical device market and positions the company favorably against competitors.
- Stock Price Reaction: Humacyte shares rose nearly 12% in Monday's pre-market trading, reflecting a positive market response to the newly secured funding and product potential, which may attract more investor interest.
- Market Sentiment: Despite the stock price increase, retail sentiment on Stocktwits around Humacyte trended in the 'bearish' territory, indicating a divergence in market perception regarding the company's future performance, which could impact its short-term stock trajectory.
BTIG Affirms Buy Rating on Humacyte, Keeps $6 Price Target Intact
Real-time Intelligence: Benzinga Pro offers the fastest news alerts to help traders stay informed and make timely decisions in the stock market.
Exclusive Content: Subscribers gain access to unique stories and insights generated by Benzinga reporters, enhancing their trading strategies.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, sharing knowledge and experiences.
Market Winning Tools: The platform is designed to provide traders with the tools and information necessary to succeed in their market endeavors.
D. Boral Capital Reiterates Buy Rating on Humacyte with $25 Price Target Intact
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: Subscribers gain access to unique stories and insights generated by Benzinga reporters.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: The platform provides essential tools and information to help traders succeed in the stock market.
Benchmark Reaffirms Buy Rating on Humacyte, Adjusts Price Target to $11
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, benefiting from shared intelligence.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
D. Boral Capital Reiterates Buy Rating on Humacyte with $25 Price Target Intact
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
