Isaac Francis

Humacyte (NASDAQ:HUMA), a commercial-stage biotechnology company pioneering universally implantable, bioengineered human tissues, today released its financial results for the fourth quarter and full year ended December 31, 2024, alongside a business update highlighting significant milestones.

The company reported a net loss of $20.9 million for Q4 2024, an improvement from the $39.2 million loss in Q3 2024 and a reduction from the $25.1 million loss in Q4 2023.

For the full year, Humacyte’s net loss totaled $148.7 million, up from $110.8 million in 2023, reflecting increased investment in its innovative platform.

Research and development (R&D) expenses for Q4 2024 were $20.7 million, down from $22.9 million in Q3 2024 due to lower materials costs tied to manufacturing schedules.

Compared to $20.2 million in Q4 2023, R&D spending saw a slight uptick.

Full-year R&D expenses rose to $88.6 million in 2024 from $76.6 million in 2023, underscoring Humacyte’s commitment to advancing its bioengineered tissue pipeline.

A major highlight was the U.S. Food and Drug Administration (FDA) approval of Symvess™, an acellular tissue-engineered vessel (ATEV) designed for extremity vascular trauma treatment.

Following approval, Humacyte launched Symvess commercially, marking its first sales.

The company also published a Budget Impact Model for Symvess in the Journal of Medical Economics, reinforcing its value proposition.

Looking ahead, Humacyte plans a 2025 Investigational New Drug (IND) filing to initiate a first-in-human study of a small-diameter ATEV for coronary artery bypass grafting.

Financially, Humacyte closed 2024 with $95.3 million in cash, cash equivalents, and restricted cash, positioning it to support ongoing operations and growth initiatives.

 

The European Union may impose fees on PayPal (NASDAQ:PYPL) as part of an escalating tariff dispute with the United States, according to a senior European lawmaker.

Bernd Lange, head of the European Parliament's international trade committee, revealed the potential move during a press conference with journalists in Berlin on Friday.

Lange’s comments signal a new front in the ongoing trade tensions between the EU and the US, with the popular digital payment platform potentially caught in the crossfire.

While specific details about the proposed fees remain unclear, the measure could mark a significant escalation in the bloc’s efforts to address trade imbalances or retaliate against U.S. tariff policies.

The statement comes as both sides continue to navigate complex negotiations over trade practices, with the EU increasingly exploring options to protect its economic interests.

Further developments are expected as lawmakers deliberate on the scope and impact of such measures.

 

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Crypto.com without taking enforcement action, according to CEO Kris Marszalek.

The probe, initiated in August 2023 with a Wells notice signaling potential legal action, concluded on March 27 after seven months of scrutiny.

“They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry,” stated Marszalek in an X post, framing the outcome as a victory.

“The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it,” he added.

Crypto.com’s chief legal officer, Nick Lundgren, attributed the resolution to the SEC’s current leadership, criticising the prior administration for “abusing its authority to harm the crypto industry.”

The firm had sued the SEC in October 2023, alleging overreach under former Chair Gary Gensler.

The closure aligns with a broader shift in SEC policy under Acting Chair Mark Uyeda, who has led efforts to roll back enforcement actions against crypto firms since January.

Over the past five weeks, the SEC has dropped investigations into Coinbase, Gemini, Uniswap, and others.

It also dismissed a case against Cumberland DRW on March 27.

Separately, Crypto.com announced a partnership with Trump Media on March 24 to launch “Made in America”-themed ETFs later this year.

The exchange will provide infrastructure and custody services for tokens including Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), and Cronos (CRYPTO:CRO).

The SEC’s Crypto Task Force, led by Commissioner Hester Peirce, now prioritises collaboration over enforcement, reflecting a regulatory pivot.

Meanwhile, Trump’s SEC chair nominee, Paul Atkins, awaits confirmation amid ongoing financial disclosures.

Duxton Farms (ASX:DXB) has finalised a deal to sell the majority of its 'Kentucky' property to Alkira Farms for $38 million.

The sale, conducted on a vacant possession basis, includes 6,020 hectares of land and 48 megalitres of stock and domestic water entitlements.

However, Duxton Farms will retain 423 hectares and 1,463 megalitres of Jemalong Irrigation General Security surface water within its portfolio.

The contract for the sale has been executed, with settlement expected in the next two weeks.

The board of Duxton Farms views the transaction as an achievement for shareholders, aligning with the company's long-term investment strategy.

Details on the allocation of funds from the sale will be disclosed in due course, with potential uses including investment in new and existing opportunities, both direct and equity-based; debt reduction; and distribution payments to shareholders.

Duxton Farms Chairman Ed Peter described the sale as a "major milestone," emphasising the company's shift away from dryland cropping toward diversified agricultural development.

The strategy aims to enhance and stabilise the company's earnings profile over the long term.

The board's strategic objective for its New South Wales aggregation is to increase the proportion of irrigable land, providing greater control over productive output.

At the time of reporting, Duxton Farms' share price was $1.38.

Elementos (ASX:ELT) has secured an extension of its tenure rights over the Oropesa Tin Project tenement in Spain.

The company's Spanish subsidiary, Minas de Estaño de España, has been granted the requested extension for its investigation permit, ensuring continuity of exploration and development activities.

The extension follows Elementos' close collaboration with the Andalucia Mining Department to maintain its rights under the investigation permit, which serves as the Spanish equivalent of an Australian exploration licence.

The company is now finalising the submission of key documentation for a new mining concession and a unified environmental authorisation, an essential permit for future mining operations.

Once submitted, the investigation permit will remain valid until authorities rule on the mining licence application.

The submission process aligns with the previously approved project layout and has received support from the administration.

The Oropesa Tin Project continues to be part of the Andalucian Government's Project Accelerator Unit, a program designed to centralize and expedite regulatory assessments.

At the time of reporting, Elementos' share price was $0.083.

Orion Minerals (ASX:ORN) has released the results of its 2025 definitive feasibility study for the Prieska copper zinc mine in South Africa's Northern Cape Province, confirming financial and technical outcomes from a de-risked two-phase development strategy.

The study outlines a fast-tracked approach to production, with an initial phase focused on shallow underground mining of near-surface supergene sulphide ore.

The phase, accessible via an existing decline, is expected to deliver its first production within 13 months of construction, operating for 4.3 years with an initial capital expenditure of $49 million.

The second phase, targeting deeper ore reserves, will commence after mine de-watering and infrastructure upgrades, extending the mine's lifespan to 13.2 years.

Key financial metrics indicate a pre-tax net present value of $797 million and a post-tax NPV of $568 million.

The internal rate of return stands at 31% pre-tax and 26% post-tax, with a payback period of 5.8 years from construction commencement.

Life-of-mine free cash flows are projected at $1.78 billion, with peak funding requirements of $578 million.

The project benefits from existing infrastructure, which reduces both capital intensity and time to production.

Mineral resources at PCZM total 31.0Mt, averaging 1.2% copper and 3.6% zinc, while probable ore reserves stand at 15.6Mt, averaging 1.1% copper and 3.1% zinc.

At the time of reporting, Orion Minerals' share price was $0.017.

Strickland Metals (ASX:STK) has commenced drilling with a fifth diamond rig at its 100%-owned Rogozna Gold and Base Metals Project in Serbia, as part of its 2025 exploration and resource expansion program.

The newly arrived rig is focused on the Obradov Potok prospect, a 2km x 2km target zone identified through multi-element geochemical analysis, induced polarisation chargeability surveys, and outcropping hydrothermal alteration.

Meanwhile, two rigs continue to work on expanding the 5.3Moz AuEq Shanac deposit, one is testing the nearby Red Creek prospect, and another is drilling at the high-grade, gold-dominant Gradina deposit.

A sixth rig is expected to begin operations in the coming weeks, targeting the large-scale Jezerska Reka porphyry system.

Managing Director Paul L’Herpiniere emphasised the significance of Obradov Potok, noting its geochemical footprint is comparable to the Shanac and Medenovac mineralised systems, which hold inferred resources of 5.3Moz and 1.28Moz AuEq, respectively.

Multiple drill holes are planned for the site in 2025 to further assess its resource potential.

Exploration at Obradov Potok began with stream sediment sampling in 2020, followed by soil surveys in 2021-2022, which identified gold, arsenic, copper, molybdenum, silver, lead, and zinc anomalies.

Ground geophysics conducted in 2024, including IP and gravity surveys, revealed several promising drill targets that will be systematically tested throughout the year.

At the time of reporting, Strickland Metals' share price was $0.088.

Australian Rare Earths (ASX:AR3) has confirmed the extension of uranium mineralisation at the Overland Project's highly prospective Western Margin Target Zone, with final assay results from the 2024 drilling program validating the geological model for in-situ recovery-amenable uranium deposits.

The results correlate with down-hole gamma and in-field pXRF measurements, reinforcing the accuracy of field-based uranium detection methods.

Drill holes OV012 and OV013 intersected anomalous uranium concentrations over 1-meter intervals at key geological contacts between permeable sands and lignitic clays, with results including 1m at 51ppm U₃O₈ from 89m in OV012 and 1m at 61ppm U₃O₈ from 85m in OV013.

Additional intersections from OV015, OV023, OV025, and OV011 confirm further uranium presence, supporting the existence of an active uranium system and increasing the likelihood of further discoveries within Overland's 4,000km2 exploration area.

The presence of uranium source rocks, permeable sediments, and effective reductants indicates potential for both near-surface, calcrete-hosted uranium and deeper ISR-amenable deposits.

Managing Director and CEO Travis Beinke noted that the the confirmation of uranium mineralisation so early in exploration reinforces the company's belief in Overland's potential.

With assays from the first swing of the 2025 drilling program expected in the coming weeks, the company plans to prioritise follow-up drilling on the Western Margin Target Zone and the recently discovered shallow calcrete-hosted uranium, with additional drilling scheduled for April to extend the mineralised strike.

At the time of reporting, Australian Rare Earths’ share price was $0.083.

Pilot Energy (ASX:PGY) has reached revised terms with Triangle Energy (Global) (ASX:TEG) for the acquisition of 100% of the Cliff Head Oil joint venture and its assets.

The amended agreement aims to provide a clear pathway for completing the sale, with transactions occurring in two stages.

Under the revised terms, Pilot will initially acquire the WA State-based assets, including the Arrowsmith freehold land and infrastructure licenses.

The remaining offshore CHJV assets will be transferred upon approval from the National Offshore Petroleum Titles Administrator.

Pilot will finance the WA State-based asset acquisition through a $5.56 million secured note to Triangle, maturing on Sept. 30, 2026, with a 10% interest rate accruing from June 30.

A one-time cash payment of $167,000 will be made to Triangle on Aug. 31.

Key terms of the sale remain unchanged, including a $4 million payment to Triangle upon the award of a Cliff Head Carbon Storage injection license and a 2% royalty on third-party revenues from the storage project, capped at $7.5 million.

Pilot's Executive Chairman, Brad Lingo, welcomed the revised terms, stating they allow the company to move forward with the Cliff Head Carbon Storage Project—an integral part of the Mid West Clean Energy Project.

Matsa Resources (ASX:MAT) has executed a binding mining services term sheet with Blue Cap Mining to advance operations at the Devon Pit Gold Mine, part of Matsa's Lake Carey Gold Project in Western Australia.

According to Matsa's feasibility study, Devon has the potential to generate a pre-tax cash flow surplus of $59.8 million over 18 months at a gold price of $4,250 per ounce.

Under the agreement, Blue Cap Mining, an experienced open-pit mining operator, will develop, manage, and operate the mine on an open-book cost basis, earning a 20% profit share in collaboration with Matsa.

Blue Cap Mining's private equity arm, Blue Capital Equities, will provide up to $6 million in working capital for the project.

Blue Cap Mining will also offer deferred payment terms, covering 50% of service fees up to $6 million, with repayments commencing once Devon achieves positive cash flow.

A preferred processing option for Devon ore has been identified, with final agreements currently in progress.

Matsa and Blue Cap Mining plan to commence preliminary site works, including geotechnical drilling and dewatering, immediately.

Matsa Executive Chairman Paul Poli welcomed the partnership, commented, "Not only does Blue Cap provide the experience, technical services and operational skill sets that the project requires but they have also committed to partially funding mining operations and entering into a profit sharing arrangement whereby Blue Cap are just as invested as Matsa and generate the highest return from the project."