Humacyte, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 09:28 pm
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Humacyte, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 26 million compared to USD 25.28 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.25 a year ago.
For the nine months, net loss was USD 85.67 million compared to USD 8.25 million a year ago. Basic loss per share from continuing operations was USD 0.83 compared to USD 0.08 a year ago.
Humacyte, Inc. is engaged in the development and manufacturing of off-the-shelf, universally implantable, bioengineered human tissues. The Company is engaged in developing a portfolio of human acellular vessels (HAVs) with varying diameters and lengths. The HAV cabinet would initially target the vascular repair, reconstruction, and replacement market, including vascular trauma; atrioventricular (AV) access for hemodialysis; peripheral arterial disease (PAD); and coronary artery bypass grafting (CABG). The Company has developed a novel paradigm for manufacturing human tissues that are intended to mimic key aspects of human physiology. It is also engaged in developing its HAVs for pediatric heart surgery and the delivery of cellular therapies, including pancreatic islet cell transplantation to treat Type 1 diabetes. The Companyâs scientific technology platform uses primary human aortic vascular cells from a working cell stock, isolated from donor tissues and cryopreserved.