aibioHumacyte gets Nasdaq minimum bid price deficiency notice, has until November 2, 2026
Tickers HUMA
Nasdaq told Humacyte on May 4, 2026 that its common stock closed below $1.00 for 30 consecutive business days. The company has until November 2, 2026 to regain compliance, and the notice has no immediate effect on its listing.
Key facts
- Company
- Humacyte, Inc. (NASDAQ: HUMA)
- News type
- Listings
- Primary source
- Humacyte, Inc. Form 8-K filed May 8, 2026 (SEC EDGAR)
Humacyte, Inc. (Nasdaq: HUMA) received a letter from Nasdaq's staff on May 4, 2026 saying its common stock closed below the $1.00 minimum bid price for 30 consecutive business days ended May 1, 2026. The requirement applies to continued listing on the Nasdaq Global Select Market under Listing Rule 5450(a)(1). The company disclosed the letter in a Form 8-K filed May 8, 2026 under Item 3.01.
The compliance period
Under Nasdaq Listing Rule 5810(c)(3)(A), the company has an initial period of 180 calendar days, or until November 2, 2026, to regain compliance. The closing bid price must be $1.00 or more for at least 10 consecutive business days at any time before that date. The 8-K says the notice has no immediate effect on the listing, which continues under the symbol HUMA, or on the company's business or its reporting obligations.
The company says it intends to monitor the bid price and will consider the options available to achieve compliance. It also says there can be no assurance it will regain compliance in that period.
Going-concern doubt
The 2025 annual report on Form 10-K, filed March 27, 2026, says the company has concluded that substantial doubt exists about its ability to continue as a going concern. It says the company will not have sufficient liquidity to fund its operations beyond one year from the issuance of those financial statements if it cannot generate enough cash.
The company reports cash and cash equivalents of $50.5 million at December 31, 2025. Operating losses were $108.1 million in 2025 and $114.4 million in 2024. Net cash used in operating activities was $105.0 million in 2025 and $98.1 million in 2024.
The annual report says the company has historically financed its operations through equity, convertible debt, the proceeds of its going public transaction, loan facilities and a revenue interest purchase agreement. It has 180 holders of record of its common stock as of March 24, 2026.
A new secured loan
On December 15, 2025, Humacyte entered a Loan and Security Agreement with Avenue Venture Opportunities Fund II, L.P., which acts as administrative agent and collateral agent for the lenders and is itself a lender. The senior secured term loan facility is up to $77.5 million in aggregate and matures in December 2029, according to the 10-K. The company used it to repay indebtedness under its revenue interest purchase agreement dated May 12, 2023.
The equity programs
The annual report describes an at-the-market program with Jefferies LLC as sales agent, under which the company could sell up to $80.0 million of common stock from time to time. The annual report also describes an underwritten offering entered into on February 29, 2024, with TD Cowen and Company, LLC and Cantor & Fitzgerald & Co. as representatives of the underwriters.
In December 2024, the company sold 1,333,596 shares under the Jefferies facility at an average price of $5.26 per share, for net proceeds of about $6.8 million. In 2025, sales under that facility brought in about $10.0 million of net proceeds. On November 21, 2025, the company gave Jefferies notice terminating the facility.
What comes next
Humacyte has until November 2, 2026 to show 10 consecutive business days at $1.00 or more. The 8-K says it will consider options, and the 10-K says the company will not have sufficient liquidity beyond one year without enough cash from operations or new funding.