Investors Alert: Deadline Approaches for Humacyte Class Action Lawsuit

Deadline Set for January 17, 2025

Law Offices of Howard G. Smith is reminding investors of the January 17, 2025 deadline to file a lead plaintiff motion in the class action case concerning Humacyte, Inc. (“Humacyte” or the “Company”) HUMA securities purchased between May 10, 2024 and October 17, 2024, inclusive (the “Class Period”).

Legal Rights for Affected Investors

Investors who experienced losses on their Humacyte investments are encouraged to reach out to the Law Offices of Howard G. Smith for guidance on their legal rights. Contact them at (215) 638-4847 or via email at howardsmith@howardsmithlaw.com.

Recent Developments Impacting Humacyte’s Stock

On August 9, 2024, Humacyte announced after market hours that the Food and Drug Administration (“FDA”) would need more time to review its Biologics License Application (BLA) for its acellular tissue engineered vessel (ATEV) concerning vascular trauma. The company stated, “[d]uring the course of the BLA review, the FDA has conducted inspections of our manufacturing facilities and clinical sites and has actively engaged with us in multiple discussions regarding our BLA filing.”

Following this news, the Company’s stock price fell by $1.29, or 16.4%, closing at $6.62 on August 12, 2024, with unusually heavy trading volume.

Then, on October 17, 2024, the FDA issued a Form 483 regarding Humacyte’s facility in Durham, North Carolina, highlighting several violations, including a lack of microbial quality assurance, no microbial testing, and inadequate quality oversight.

On that day, Humacyte’s stock dropped by $0.95, or 16.35%, closing at $4.86 per share, again on unusually heavy volume.

Allegations in the Class Action

The class action complaint alleges that during the Class Period, Defendants made materially false and/or misleading statements and failed to disclose significant adverse information regarding the Company’s operations. Specifically, it states that Defendants did not inform investors that: (1) the Durham facility was not compliant with good manufacturing practices; (2) the FDA review of the BLA would be delayed as Humacyte addressed these issues; and (3) due to these factors, the likelihood of obtaining FDA approval for ATEV was at risk. Consequently, the benefits projected by the Defendants about the Company’s business were misleading.

Joining the Class Action

If you bought or acquired Humacyte securities during the Class Period, you have until January 17, 2025 to request the Court to appoint you as a lead plaintiff, should you meet the legal criteria. You don’t need to take any immediate action to be part of the class action. You may choose to retain your own legal counsel or simply remain an absent member of the class. For more information about the class action, or if you have questions concerning this announcement or your rights, please contact Howard G. Smith, Esquire, at Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020. He can be reached at (215) 638-4847, toll-free at (888) 638-4847, or via email at howardsmith@howardsmithlaw.com. More information is available at www.howardsmithlaw.com.

Disclaimer

This press release may be considered Attorney Advertising in certain jurisdictions under applicable law and ethical rules.

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