Humacyte Execs Sued Over Alleged Insider Trading, FDA Delay (1)

Humacyte, Inc. executives and board members failed to root out manufacturing compliance issues, delaying Food and Drug Administration permission to distribute its lab-grown blood vessel implant and exposing the biotechnology company to a proposed investor class action, a shareholder’s derivative complaint said.

Several directors benefited from insider trading with transactions in the millions while the stock price was artificially inflated, alleges shareholder Nathan Silva in his complaint filed Tuesday in the US District Court for the Middle District of North Carolina. “Additionally, Ayabudge LLC, an entity controlled by Board member Brady W. Dougan, who is married to CEO and President ...