Humacyte Q1 Sales $0.5M; Appoints CCO/CSO; Phase 3 Results Soon
Humacyte, Inc. announced its first quarter 2026 financial results, reporting Symvess sales of $0.5 million, a significant increase from $0.1 million in Q1 2025. The company also appointed James Mercadante as Chief Commercial Officer and Dr. Todd Rasmussen as Chief Surgical Officer to accelerate commercialization. Key business updates include a $1.475 million purchase commitment for Symvess in Saudi Arabia, Israeli regulatory acceptance, and upcoming top-line interim results from its Phase 3 hemodialysis access trial in June 2026. Humacyte implemented a restructuring, reducing headcount by 25% and expecting $14.3 million in net savings for the remainder of 2026, while reporting a net loss of $17.6 million for the quarter, primarily due to a non-cash item.
Key Highlights
- Q1 2026 Symvess sales increased to $0.5 million (29 units) from $0.1 million (5 units) in Q1 2025.
- Appointed Jim Mercadante as Chief Commercial Officer and Dr. Todd Rasmussen as Chief Surgical Officer.
- Received a minimum purchase commitment of $1.475 million for Symvess in Saudi Arabia.
- Israeli Ministry of Health accepted Marketing Authorization Application for Symvess for review.
- Top-line interim results from V012 Phase 3 study in hemodialysis access expected June 11, 2026.
- Reduced expected spending by $14.3 million for the remainder of 2026 and cut headcount by 25%.
- Q1 2026 net loss was $17.6 million, compared to net income of $39.1 million in Q1 2025.
- Cash, cash equivalents, and restricted cash totaled $48.9 million as of March 31, 2026.