Humacyte expects cash to fund operations through 2024

The Company reported cash, cash equivalents and short-term investments of $151.9 million as of December 31, 2022, compared to $225.5 million as of December 31, 2021. The $73.6 million net use of cash, cash equivalents and short-term investments for the year ended December 31, 2022 resulted from spending related to net operating activities for the period, including clinical and earlier-stage research and development programs, and preparation for the Company’s anticipated commercial launch. The Company believes that its cash, cash equivalents and short-term investments are adequate to fund operations through the end of 2024, past the Company’s current expected timelines for potential approval of the HAV in its vascular trauma indication.