08:45 AM EDT, 07/01/2024 (MT Newswires) -- Humacyte ( HUMA ) said Monday its investigational Acellular Tissue Engineered Vessel, or ATEV, was granted the US Food and Drug Administration's Regenerative Medicine Advanced Therapy designation for patients with advanced peripheral artery disease.

The designation will grant the company priority in consultations with the FDA regarding ATEV and potentially expedite future license application reviews.

ATEV currently has two other RMAT designations for vascular trauma repair and arteriovenous access in hemodialysis, Humacyte ( HUMA ) said.

Shares of the company were up over 7% in recent Monday premarket activity.

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