Humacyte reports full-year 2024 financial results, announces FDA approval and commercial launch of Symvess™

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.