On May 13, 2025, Humacyte, Inc. announced its financial results for the first quarter ended March 31, 2025. The company reported total revenues of $0.517 million, consisting of $0.147 million in product revenue from initial Symvess sales and $0.370 million in contract revenue from a research collaboration.
Operating expenses totaled $23.701 million, resulting in an operating loss of $23.184 million. However, the company reported a net income of $39.139 million, primarily due to non-cash gains from changes in fair value of contingent earnout and derivative liabilities.
Humacyte noted significant commercial traction for Symvess, with 45 hospitals initiating the Value Analysis Committee (VAC) approval process, representing approximately one quarter of all Level 1 trauma centers nationwide. The company also completed a public offering raising $46.7 million in net proceeds and implemented cost reductions to extend its cash runway into the second half of 2026.
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