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Sep 30, 2025
Humacyte Q3 2025 Earnings Report
Humacyte narrowed its net loss in Q3 2025 while continuing to expand Symvess sales and progress its pipeline toward BLA filings and human trials.
Key Takeaways
Humacyte reported $753,000 in total revenue in Q3 2025, primarily driven by accelerating sales of Symvess. The company reduced its net loss to $17.5 million compared to $39.2 million a year earlier. Key pipeline programs advanced toward clinical milestones, and additional funding was secured after the quarter's end.
Revenue reached $753,000 in Q3, primarily from Symvess sales
Net loss reduced to $17.5 million from $39.2 million in Q3 2024
109 patients enrolled in V012 Phase 3 dialysis trial; BLA targeted for H2 2026
CABG IND submitted; first-in-human study planned for 2026
Revenue by Segment
Forward Guidance
Humacyte plans to accelerate clinical programs and advance regulatory filings, with expanded Symvess sales expected to drive near-term revenue growth and newly raised capital extending runway.
Positive Outlook
- Symvess commercial sales are ramping with broadening VAC adoption
- CABG program advancing with IND submitted and human trial planned
- V012 dialysis trial hit interim enrollment milestone
- New U.S. patent strengthens IP portfolio for esophageal replacement
- Additional $56.5M raised post-quarter to support operations
Challenges Ahead
- Company remains unprofitable with net loss of $17.5 million
- Cash and equivalents fell to $19.8 million before new raise
- High R&D expenses continue despite cost reduction efforts
- Ongoing reliance on equity raises to fund pipeline progress
Historical Earnings Impact
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Avg. Return Before/After Earnings
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