Alabama Republican Sen. Tommy Tuberville has come out and disclosed that he has gone all in on a brand new stock from Humacyte, which is a small biotech company that makes implantable human tissue. I know what you’re thinking. This sounds like something straight out of a science-fiction movie, or ripped from the pages of a Frankenstein knock-off. And, frankly, you wouldn’t exactly be wrong. However, there are actually quite a few really cool applications for this technology.
The company has been testing their tech in Ukraine by using it to treat combat injuries. Imagine the benefit this could have for our own military? However, one has to wonder if owning stock in the company would be considered a conflict of interest since Tuberville is a member of the Armed Services Committee?
BREAKING: Senator Tommy Tuberville has disclosed new purchase of Humacyte stock, $HUMA.
It's a small biotech company that makes implantable human tissues.
They've been testing their tech in Ukraine, treating combat injuries.
Tuberville sits on the Armed Services Committee. pic.twitter.com/xXGgKG34VP
— Quiver Quantitative (@QuiverQuant) April 16, 2024
Investing.Com has some great background information on Humacyte:
Humacyte, Inc. engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs) to be implanted into patient without inducing a foreign body response or leading to immune rejection. It is developing a portfolio of HAVs, which would target the vascular repair, reconstruction, and replacement market, including vascular trauma; arteriovenous access for hemodialysis; peripheral arterial disease; pediatric heart surgery; and coronary artery bypass grafting, as well as for the delivery of cellular therapy, including pancreatic islet cell transplantation to treat Type 1 diabetes. The company was founded in 2004 and is headquartered in Durham, North Carolina.
According to a press release from Humacyte put out back in February:
Humacyte, Inc. (Nasdaq: HUMA), a clinical-stage biotechnology platform company developing universally implantable, bioengineered human tissue at commercial scale, today announced today announced the pricing of an underwritten public offering of 13,400,000 shares of its common stock at a public offering price of $3.00 per share. The aggregate gross proceeds from this offering are expected to be $40.2 million, before deducting underwriting discounts and commissions and other offering expenses payable by Humacyte. The closing of the offering is expected to occur on or about March 5, 2024, subject to the satisfaction of customary closing conditions. In addition, Humacyte has granted the underwriters an option for a period of 30 days to purchase up to an additional 2,010,000 shares of Humacyte’s common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock are being sold by Humacyte.
Humacyte intends to use the net proceeds that it will receive from the offering to continue the advancement of its pipeline in regenerative medicine, to support U.S. Food and Drug Administration’s (“FDA”) review of its Biologics License Application (“BLA”) seeking approval of Humacyte’s bioengineered human acellular vessels (“HAVs”) in urgent arterial repair following extremity vascular trauma when synthetic graft is not indicated and when autologous vein use is not feasible, to establish its initial commercial infrastructure in anticipation of future potential commercial launches and for general corporate purposes.
Tuberville is a man who knows a thing or two about investing, as it’s an activity he’s engaged in numerous times. In fact, according to Investing.Com revealed that back in February, Tuberville sold off between $1,001 to $15,000 worth of Common Stock in Bristol-Myers Squibb Company, in a trade that was made in January. Ever since that sale was made, the stock went down by 5.74 percent.