Shares of Humacyte, Inc. (HUMA) are slipping over 9% on Monday morning after the clinical-stage biotechnology platform company announced the issuance of four new ICD-10-PCS codes by the U.S. Centers for Medicare & Medicaid Services (CMS) ICD-10 Coordination and Maintenance (C&M) Committee.
HUMA is currently trading at $6.39, down $0.66 or 9.36%, on the Nasdaq. The stock opened its trading at $6.70 after closing Friday at $7.05. The stock has traded between $1.96 and $9.97 in the past 52-week period.
These codes, effective for hospital discharges beginning October 1, 2024, cover procedures for replacing arteries in the upper or lower extremities using Humacyte's HAV. Humacyte also announced that, based on guidance from the Food and Drug Administration (FDA), the common (non-brand) name for the HAV will be the "acellular tissue engineered vessel" (ATEV).
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