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Humacyte (HUMA) investor relations material
Humacyte Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved first commercial sales of FDA-approved Symvess in Q2 2025, marking transition to a commercial-stage company and expanding hospital eligibility from 5 to over 200 facilities, including military and civilian sites.
Secured ECAT listing from the US Defense Logistics Agency, enabling access to 35 military and 160 VA hospitals, with initial and repeat sales to military facilities.
Positive topline results from V007 Phase III trial in AV access for hemodialysis, with data presented at major conferences and accepted for publication.
Implemented cost reduction actions in April 2025, including a 30-employee workforce reduction and deferred hiring to extend cash runway.
Overcame headwinds from public attacks and challenging economic environment, with commercial momentum accelerating in June and July.
Financial highlights
Q2 2025 revenue was $0.3M ($0.1M US sales, $0.2M research collaboration); $0.8M for six months ended 06/30/2025.
Net loss for Q2 2025 was $37.7M, improved from $56.7M prior year; net income of $1.5M for six months, versus $88.6M loss prior year, driven by non-cash remeasurement of contingent earn-out liability.
R&D expenses: $22M for Q2 2025 (down from $23.8M prior year); $37.4M for six months (down from $45M prior year).
SG&A expenses: $7.8M for Q2 2025 (up from $5.7M prior year); $15.9M for six months (up from $11.1M prior year), reflecting commercial launch costs.
Cash, cash equivalents, and restricted cash totaled $88.4M as of 06/30/2025; $46.7M raised in March 2025 public offering.
Outlook and guidance
Expect continued growth in hospital eligibility and sales, with a focus on high-volume centers and further military facility penetration.
Plan to complete VO12 trial enrollment (~150 patients) by year-end 2025, with interim analysis in April 2026 and potential BLA filing in 2026.
Anticipate IND filing for coronary artery bypass graft program in late 2025, with clinical trial start in 2026.
Management believes available cash and equity facilities will fund operations for at least 12 months; additional capital may be required for long-term operations.
Cost reduction actions expected to yield over $50M in savings across 2025–2026.
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