Humacyte Announces Second Quarter 2025 Financial Results and Provides Business Update

Core Insights - Humacyte, Inc. reported total revenues of $301,000 for the second quarter of 2025 and $818,000 for the first half of 2025, primarily from sales and collaborative research agreements [1] - The company has achieved significant progress in the commercial launch of its product Symvess, with 82 civilian hospitals now approved to purchase it, a substantial increase from five hospitals in the previous quarter [2][3] - The Electronic Catalog (ECAT) approval allows Symvess to be available to approximately 190 Military Treatment Facilities and U.S. Department of Veterans Affairs hospitals [2][3] - The company experienced a notable increase in product sales in July 2025, exceeding total sales from the first half of the year [2][3] Financial Performance - For the second quarter of 2025, Humacyte reported revenues of $0.3 million, with $0.1 million from U.S. sales of Symvess and $0.2 million from a research collaboration [6][10] - The total revenue for the first six months of 2025 was $0.8 million, with $0.2 million from U.S. sales of Symvess and $0.6 million from research collaboration [10] - The company reported a net loss of $37.7 million for the second quarter of 2025, an improvement from a net loss of $56.7 million in the same period of 2024 [10][26] - Research and development expenses decreased to $22.0 million for the second quarter of 2025 from $23.8 million in the same quarter of 2024 [10][26] Product Development and Clinical Trials - The V007 Phase 3 clinical trial results for the acellular tissue engineered vessel (ATEV) were highlighted at a major vascular surgery conference, showing superior functional patency compared to the autologous fistula control group [7][10] - The V012 Phase 3 clinical trial has enrolled 100 patients to assess the efficacy and safety of ATEV for dialysis in female patients, with plans for an interim analysis [10] - The company aims to submit a supplemental Biologics License Application (BLA) in the second half of 2026, pending interim results from the V012 trial [10] Operational Updates - Humacyte has implemented a workforce reduction plan, resulting in a net savings of approximately $13.8 million in 2025 and an estimated $38.0 million in 2026 [10] - The company has retained key personnel and resources to meet its corporate goals, including the commercial launch of Symvess and completion of clinical trials [10] - As of June 30, 2025, Humacyte reported cash, cash equivalents, and restricted cash totaling $88.4 million [10][28]