Humacyte(US:HUMA)2025-11-12 12:06Financial Performance - Total revenues for Q3 2025 were $753,000, with $1,571,000 for the first nine months of 2025, primarily from sales and collaborative research agreements[1] - Net loss for Q3 2025 was $17.5 million, down from $39.2 million in Q3 2024, and net loss for the first nine months of 2025 was $16.0 million compared to $127.8 million in the same period of 2024[12] - Total revenue for Q3 2025 was $753,000, compared to $0 in Q3 2024, representing a significant increase[18] - Product revenue for the nine months ended September 30, 2025, was $950,000, with contract revenue of $621,000, both showing growth from zero in the same period of 2024[18] - The net loss for Q3 2025 was $17,510,000, compared to a net loss of $39,202,000 in Q3 2024, reflecting an improvement of about 55%[18] Sales and Market Demand - Sales of Symvess increased significantly to $703,000 in Q3 2025 from $100,000 in Q2 2025, attributed to 25 Value Analysis Committee approvals and inclusion in the U.S. Defense Logistics Agency's Electronic Catalog[3] - The company reported a total of 16 hospitals that have ordered Symvess, with the majority placing re-orders, indicating strong market demand[4] Research and Development - Research and development expenses decreased to $17.3 million in Q3 2025 from $22.9 million in Q3 2024, and $54.7 million for the first nine months of 2025 compared to $67.9 million in the same period of 2024[9] - The ATEV is progressing towards a supplemental Biologics License Application (BLA) filing for dialysis access, with 109 patients enrolled in the V012 Phase 3 clinical trial[7] - Positive two-year results from the V007 Phase 3 trial of ATEV in dialysis patients were presented at Kidney Week 2025, showing superior duration of use compared to autogenous fistulas[8] - Humacyte plans to advance the Coronary Tissue Engineered Vessel (CTEV) into first-in-human studies in CABG in 2026, supported by positive preclinical study results[6] Financial Position - Cash, cash equivalents, and restricted cash totaled $19.8 million as of September 30, 2025, with net proceeds of approximately $56.5 million from a recent stock sale[12] - Cash and cash equivalents decreased to $19,488,000 as of September 30, 2025, down from $44,937,000 at the end of 2024[20] - Total assets decreased to $91,509,000 as of September 30, 2025, from $137,872,000 at the end of 2024, a decline of approximately 34%[20] - Total liabilities were $96,260,000 as of September 30, 2025, down from $190,541,000 at the end of 2024, indicating a reduction of about 49%[20] - The accumulated deficit increased to $702,044,000 as of September 30, 2025, compared to $686,015,000 at the end of 2024[20] Shareholder Information - Weighted-average shares outstanding increased to 158,313,290 in Q3 2025 from 119,408,565 in Q3 2024, reflecting a growth of approximately 32.5%[18] Other Financial Metrics - Operating expenses for Q3 2025 totaled $25,143,000, down from $30,233,000 in Q3 2024, indicating a reduction of approximately 17%[18] - The company reported a change in fair value of contingent earnout liability of $4,893,000 in Q3 2025, contrasting with a loss of $8,489,000 in Q3 2024[18] - The company expanded its intellectual property with a new U.S. patent for a bioengineered esophagus, providing protection until 2041[8]