BUZZ-Humacyte plunges on $50 mln stock sale
Humacyte HUMA | 0.00 |
** Biotech firm Humacyte's HUMA.O shares down 22.4% before the bell on Thurs to $1.04 after $50 mln equity raise
** Bioengineered tissue maker late Thurs sold ~47.6 mln shares at $1.05, a 21.6% discount to last sale
** Co intends to use net offering proceeds to fund commercialization of its implant Symvess for patients with extreme blood vessel trauma, planned filing of Biologics License Application supplement in a hemodialysis indication, among other purposes
** Barclays, BTIG, Titan Partners joint bookrunners
** Durham, North Carolina-based HUMA has ~222 mln shares outstanding
** At Thurs close, shares up 40% YTD
** 4 of 5 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $2, per LSEG data
