Humacyte tumbles on pricing $50 mln stock offering

Shares of biotech firm Humacyte HUMA.O down 23.5% premarket to $2.20, over 16-mth low, after overnight follow-on priced

Durham, North Carolina-based co late Tues sold 25 mln shares at $2 for $50 mln gross raise

Offering priced at 30.6% discount to last sale

Co intends to use net offering proceeds to fund commercialization of its implant Symvess for patients with extreme blood vessel injury

U.S. FDA granted approval of Symvess in Dec

HUMA has ~122.7 mln shares outstanding for ~$353 mln market cap, and ~89.7 mln shares of public float, per LSEG data

TD Cowen, Barclays and BTIG jt bookrunners for the offering

Through Tues, HUMA shares down 43% YTD after ~78% gain in 2024