HCW Biologics Inc.

HCW Biologics Inc.

HCWB
HCW Biologics Inc.US flagNASDAQ Global Market
1.66
USD
-0.13
- -
3.45MMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
- -
5.73
- -
7.51
3.16
2.65
0.03
2.05
Basic EPS, GAAP
-12.74
-9.89
-27.41
-16.64
-27.83
-30.96
-3.79
-0.71
Free Cash Flow per Basic Share
-13.47
-14.85
-23.49
-23.07
-31.97
-14.94
-6.38
-3.57
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
-15.84
-23.38
-65.28
-50.84
-78.52
-103.68
-51.73
-32.7
Tangible Book Value per Share
-15.84
-23.38
109.09
41.79
14.99
-6.98
1.32
1.79
Basic Weighted Avg Shares
1
1
- -
1
1
1
2
3
Sales/Revenue/Turnover
- -
4
- -
7
3
3
- -
7
Operating Margin (%)
- -
-142.07
- -
-224.32
-904.96
-1,076.41
-20,757.65
-96.11
Depreciation Expense
- -
1
1
1
1
1
1
1
Net Income, GAAP
-7
-6
-13
-15
-25
-30
-8
-2
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
8.68
Profit Margin (%)
- -
-141.53
- -
-221.67
-879.52
-1,169.7
-14,677.14
-34.74
Working Capital
7
11
38
31
-2
-24
-19
-18
LT Debt
- -
- -
- -
6
6
7
- -
- -
Total Equity
9
14
51
37
13
-7
3
6
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
4.46
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
7
7
7
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3
3
7
Market Capitalization
6
2
1

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2
2
2
Cash, Cash Equivalents & STI
1
2
1
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
27
21
20
Payables & Accruals
20
14
13
ST Debt
7
7
7
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-25.29%
-140.84%
Free Cash Flow
- -
14.63%
-7.57%
Net Income, GAAP
- -
30.38%
-73.49%
Sales/Revenue/Turnover
- -
- -
-97.89%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1
1
- -
- -
3
2025
- -
- -
- -
- -
- -
2026
7
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-8.03
-16.16
-4.13
-3.19
-30.96
2025
-1.97
-1.08
-2.02
0.21
-3.79
2026
0.64
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Hing C. Wong
Full Time Employees
36
Sector
Healthcare
Industry
Biotechnology
Address
2929 North Commerce Parkway Miramar FL United States of America 33025
IPO Date
Jul 20, 2021
Business
HCW Biologics Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to extend the human health span by disrupting the link between chronic, low-grade inflammation and age-related diseases. The company utilizes its proprietary Tissue factOr-Based fusion (TOBI) discovery platform to generate innovative multi-functional fusion molecules with immunotherapeutic properties. Its main product candidates include HCW9218, a bifunctional immunotherapeutic targeting senescent cells and the senescence-associated secretory phenotype (SASP) factors; HCW9302, designed to activate and expand regulatory T cells to deactivate inflammasomes; and additional candidates such as HCW9201, HCW9206, and HCW11-040, with applications across cancer, cardiovascular diseases, diabetes, neurodegenerative disorders, autoimmune diseases, and long-haul COVID-19. Founded in 2018 and headquartered in Miramar, Florida, HCW Biologics conducts clinical trials and advances drug development aimed at counteracting age-related chronic inflammation, serving global markets. Recent significant developments include the initiation of a multi-center, first-in-human Phase 1 clinical trial of HCW9302 for alopecia areata at The Ohio State University Wexner Medical Center, announced in late 2025. The company also completed a $4 million warrant inducement financing and issued shares under a standby equity purchase agreement to secure ongoing funding. HCW Biologics presented preclinical data for its tetra-valent pembrolizumab-based immune checkpoint inhibitor HCW11-040 and enhancements in its T-Cell Engager (TCE) programs at the 2025 Society for Immunotherapy of Cancer (SITC) Annual Meeting, showcasing advances in immune modulation and tumor activity. HCW Biologics leverages strategic partnerships and academic collaborations to accelerate research and development efforts in immunotherapies addressing unmet medical needs related to aging and immune system dysfunction. The company operates within the biotechnology and pharmaceuticals sectors, targeting healthcare providers, research institutions, and pharmaceutical partners worldwide. Its continued focus on innovative fusion protein therapeutics positions HCW Biologics as a developer of next-generation immunotherapies in age-associated disease management and immune system rejuvenation.

Company News

APIChat
  • HCW Biologics Exercised Option to Regain Full Rights for Two Commercial-Ready Reagents from Wugen

  • E.F. Hutton & Co. Serves as Sole Placement Agent on HCW Biologics Inc. $4.0 Million Private Placement

  • HCW Biologics Inc. Announces Pricing of Approximately $4.0 Million Private Placement Offering At-the-Market Under Nasdaq Rules

  • HCW Biologics (HCWB) Stock Is Trending Overnight — Here's Why It Moved Over 122% In After-Hours Session

  • HCW Biologics Reports First Quarter 2026 Business Highlights and Financial Results

  • HCW Biologics Discovers that HCW11-040 Prevents Bronchopulmonary Dysplasia (BPD) During IND-Enabling Studies

  • HCW Biologics Announces Adjournment of Special Meeting of Stockholders Due to Lack of Quorum

  • HCW Biologics Delivers a Major Update for its T-Cell Engager Program Revealing Mechanism of Action and Validating Tissue Factor as Target for Treatment of Solid Tumors

  • HCW Biologics Reports Fourth Quarter 2025 and Fiscal Year 2025 Business Highlights and Financial Results

  • HCW Biologics (HCWB) Projected to Post Earnings on Wednesday

  • HCW Biologics Closes Exclusive Worldwide License for HCW11-006 – A High Potential Fusion Immunotherapeutic

  • HCW Biologics Announces Positive Research Results for CAR-T Cell Therapy Manufactured Utilizing Its Commercial-Ready Proprietary Compound, HCW9206, Published in Science Advances

  • HCW Biologics Regains Compliance with All Continued Listing Rules for Nasdaq Per Nasdaq Determination Letter

  • HCW Biologics Announces Pricing of $1.5 Million Follow-On Offering Priced At-The-Market Under NASDAQ Rules

  • HCW Biologics and WY Biotech Announce Closing of First Round of Financing For Newly Formed Joint Venture Trimmune

  • Reviewing HCW Biologics (NASDAQ:HCWB) and ImmunityBio (NASDAQ:IBRX)

  • Analyzing Sienna Biopharmaceuticals (OTCMKTS:SNNAQ) & HCW Biologics (NASDAQ:HCWB)

  • HCW Biologics (NASDAQ:HCWB) Trading Down 7.1% – Here’s What Happened

  • HCW Biologics Announces Initiation of First-In-Human Clinical Trial to Evaluate HCW9302 in an Autoimmune Disease

  • HCW Biologics Reports Third Quarter 2025 Business Highlights and Financial Results