Humacyte, Inc.

Humacyte, Inc. reported its first full year of commercial operations in FY 2025 following the FDA approval of Symvess in December 2024. The company generated total revenue of $2.0 million, comprised of $1.4 million in product revenue from U.S. sales of Symvess for vascular trauma and $0.6 million in contract revenue. Operating expenses totaled $110.2 million, including $69.3 million in R&D and $31.2 million in G&A expenses, resulting in an operating loss of $108.1 million. Net loss improved significantly to $40.8 million from $148.7 million in FY 2024, primarily due to a $59.5 million non-cash gain from the change in fair value of the Contingent Earnout Liability and a $38.8 million gain from derivative fair value changes, partially offset by a $22.3 million loss on debt extinguishment. The company ended the year with $50.5 million in cash and cash equivalents and raised significant capital through equity offerings and a new term loan facility.

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