Humacyte Inc HUMA shares are tumbling in Tuesday’s after-hours session after the company announced a proposed public offering.

What Happened: After the market close on Tuesday, Humacyte said it commenced an underwritten public offering of common stock. The biotech platform company plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering. Pricing details were not disclosed.

Humacyte intends to use the net proceeds from the offering to fund the commercialization of SYMVESS in the vascular trauma indication, as well as for the development of product candidates in the company’s pipeline.

Humacyte had $71 million in cash, cash equivalents and restricted cash as of Sept. 30, 2024.

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Is HUMA A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action, which you can find on Benzinga's quote pages — like Humacyte‘s page, for example — there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the period the buyback was authorized. Looking through the latest news on Humacyte will often yield whether or not the company approved a buyback program recently. Buyback programs usually act as a support for share prices, serving as a backstop for demand.

HUMA Price Action: Humacyte shares were down 21.39% after hours, trading at $2.26 at the time of publication Tuesday, according to Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.