Humacyte, Inc. (NASDAQ: HUMA)

This lawsuit is for anyone who acquired securities in Humacyte, Inc. (NASDAQ: HUMA) from May 10, 2024 to October 17, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by overstating the likelihood that the FDA would approve the Company’s Biologic License Application for the Company’s acellular tissue engineered vessel in the vascular trauma indication, given that the Company knew that it had trouble producing the acellular tissue engineered vessel uncontaminated.

On August 9, 2024, after market hours, Humacyte disclosed that the FDA needed “additional time to complete its review of its Biologic License Application (BLA) for the acellular tissue engineered vessel (ATEV) in the vascular trauma indication,” stating that the FDA had conducted inspections of the Company’s manufacturing facilities and clinical sites and has “actively engaged” with the Company “in multiple discussions regarding [its] BLA filing.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on October 17, 2024, the FDA revealed that it had identified a number of violations at Humacyte’s North Carolina facility, including “no microbial quality assurance” and “no microbial testing,” and “that quality oversight is inadequate.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Humacyte, Inc. (NASDAQ: HUMA) from May 10, 2024 to October 17, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.