NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of North Carolina on behalf of all persons or entities who purchased or otherwise acquired Humacyte, Inc. (“Humacyte” or the “Company”) ( HUMA) securities between May 10, 2024 through October 17, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.
The Complaint alleges that on August 9, 2024, the Company issued a press release “announcing that the U.S. Food and Drug Administration (FDA) will require additional time to complete its review of its Biologic License Application (BLA) for the acellular tissue engineered vessel (ATEV) in the vascular trauma indication.” The press release disclosed that “during 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[.]” On this news, the Company’s stock price fell $1.30 per share, or 16.43%, to close at $6.61 per share on August 12, 2024.
The Complaint also alleges that on October 17, 2024, the FDA released a Form 483 concerning the Company’s Durham, North Carolina facility, which revealed a number of violations, including “no microbial quality assurance,” “no microbial testing,” and inadequate “quality oversight.” On this news, the Company’s stock price fell $0.95 per share, or 16.35%, to close at $4.86 per share on October 17, 2024.
Investors who purchased or otherwise acquired shares of Humacyte should contact the Firm prior to the January 17, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
