NEW YORK, NY / ACCESSWIRE / November 8, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Humacyte, Inc. ("Humacyte" or the "Company") (NASDAQ:HUMA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Humacyte and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 9, 2024, Humacyte issued a press release "announc[ing] 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."
On this news, Humacyte's stock price fell $1.30 per share, or 16.43%, to close at $6.61 per share on August 12, 2024.
Then, on October 17, 2024, the FDA published a letter on Form 483, which had been sent to Humacyte's Chief Operating Officer on April 5, 2024, listing inspectional observations by the FDA. Specifically, the FDA observed in its Form 483 letter that the Company's facility had no microbial quality assurance, inadequate quality assurance, and reciting that under FDA regulations its observer in his or her judgment indicated that the observations consisted in whole or part of filthy, putrid, or decomposed substance or has been prepared, packed or held under insanitary conditions whereby it may have been become contaminated with filth, or whereby it may have been rendered injurious to health.
On this news, Humacyte's stock price fell $0.95 per share, or 16.35%, to close at $4.86 per share on October 17, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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SOURCE: Pomerantz LLP
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