HUMAHIGH SIGNALOPERATIONAL10-K

HUMA achieved commercial launch of Symvess for vascular trauma and substantially reduced net losses while expanding share count by 43% indicating significant equity financing activity.

The company has successfully transitioned from clinical-stage to commercial operations with Symvess now treating patients beyond clinical trials, marking a critical milestone for this biotech company. The meaningful reduction in net losses combined with maintained cash position suggests improved operational efficiency and potential early revenue generation from the commercial launch.

Comparing 2026-03-27 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

HUMA's financial profile improved markedly with net losses substantially reduced while R&D expenses declined 22%, indicating more efficient capital deployment as the company transitioned to commercialization. Total liabilities decreased significantly by 41% while current assets grew 42% and cash remained stable, suggesting successful debt reduction and equity financing activities. The 43% increase in outstanding shares confirms substantial equity raises that have strengthened the balance sheet and funded the commercial transition.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+72.5%
-$148.7M-$40.8M

Net income grew 72.5% — bottom-line growth signals improving overall business health.

Capital Expenditure
Cash Flow
-43.8%
$1.6M$884K

Capex reduced 43.8% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Current Assets
Balance Sheet
+41.7%
$47.9M$67.8M

Current assets grew 41.7% — improving short-term liquidity or inventory/receivables build.

Total Liabilities
Balance Sheet
-40.6%
$190.5M$113.3M

Liabilities reduced 40.6% — deleveraging improves balance sheet strength and financial flexibility.

R&D Expense
P&L
-21.8%
$88.6M$69.3M

R&D spending cut 21.8% — could signal cost discipline or concerning reduction in innovation investment.

Total Assets
Balance Sheet
-15.6%
$137.9M$116.4M

Total assets contracted 15.6% — asset sales, write-downs, or balance sheet optimization underway.

Cash & Equivalents
Balance Sheet
+12.4%
$44.9M$50.5M

Cash grew 12.4% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-03-27
PRIOR — 2025-03-31
ADDED
As of March 24, 2026, 222,019,108 shares of common stock, par value $0.0001, were issued and outstanding.
We are initially using our proprietary, scientific technology platform to engineer and manufacture acellular tissue engineered vessels, or ATEVs.
As of December 31, 2025, our ATEVs have been implanted in approximately 636 patients in clinical trials as well as additional patients following the U.S.
commercial launch of Symvess in the vascular trauma indication.
In addition to vascular trauma, we are currently conducting a Phase 3 trial of our 6 millimeter ATEV in AV access for hemodialysis, and previously completed Phase 2 trials in PAD.
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REMOVED
As of March 27, 2025, 155,118,816 shares of common stock, par value $0.0001, were issued and outstanding.
We are initially using our proprietary, scientific technology platform to engineer and manufacture acellular tissue engineered vessels, or ATEVs TM .
As of December 31, 2024, our ATEVs have been implanted in approximately 601 patients.
In addition to vascular trauma, we and our collaborators are currently conducting Phase 3 and Phase 2 trials of our 6 millimeter ATEV in AV access for hemodialysis and PAD.
In addition, in 2018 our ATEV product candidate was assigned a priority designation by the Secretary of Defense under Public Law 115-92, enacted to expedite the FDA s review of products that are intended to diagnose, treat or prevent serious or life-threatening conditions facing American military personnel.
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