Faruqi & Faruqi Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $75,000 on Humacyte to contact him directly to discuss their options.
If you suffer losses exceeding $75,000 Homosite Between May 10, 2024 and October 17, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 15, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Humacyte, Inc. (“Humacyte” or the “Company”) (NASDAQ: HUMA) and reminds investors of January 17, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company's facility in Durham, North Carolina, failed to comply with manufacturing standards; The good one. practices, including quality assurance and microbial testing; (2) that FDA review of the BLA will be delayed while Humacyte addresses these deficiencies; (3) that as a result, there was a significant risk to FDA approval of ATEV for the treatment of vascular shock; and (4) that as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 9, 2024, after the market closed, Humacyte issued a press release announcing that the Food and Drug Administration (“FDA”) “will require additional time to complete its review of the Biologics License Application (BLA) for engineered acellular tissues.” vessel (ATEV) in vascular shock indication.” The press release disclosed in part that “(d)uring the BLA review, FDA conducted inspections of our manufacturing facilities and clinical sites and actively engaged with us in multiple discussions regarding our BLA filing(.) “
On this news, the Company's stock price fell $1.29, or 16.4%, to close at $6.62 per share on August 12, 2024, on unusually high trading volume.
On October 17, 2024, during market hours, the FDA issued a Form 483 regarding Humacyte's Durham, North Carolina, facility, which revealed a number of violations, including “failure to ensure microbial quality,” “failure to conduct microbial testing,” and inadequate “Quality Control”. “.
On this news, the Company's stock price fell $0.95, or 16.35%, to close at $4.86 per share on October 17, 2024, on unusually high trading volume.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Humacyte's conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233768
