** 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
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.