Humacyte RMAT designation for ATEV positive for stock, says Benchmark

After Humacyte announced that its Acellular Tissue Engineered Vessel, or ATEV, received an FDA Investigational New Drug clearance for patients with advanced peripheral artery disease, or PAD, plus an FDA Regenerative Medicine Advanced Therapy, or RMAT, designation, Benchmark called the news “positive for the stock” given the firm’s view that this designation signals the FDA is “positively inclined to the ATEV platform.” The PAD indication is not in the firm’s $15 price target estimate, notes the analyst, who adds that it could add roughly $6 a share if granted. The firm maintains a Buy rating on Humacyte shares.