Earnings summaries and quarterly performance for HCW Biologics.
Executive leadership at HCW Biologics.
Board of directors at HCW Biologics.
Research analysts covering HCW Biologics.
Recent press releases and 8-K filings for HCWB.
HCW Biologics Takes Steps to Regain Nasdaq Compliance
HCWB
Delisting/Listing Issues
Legal Proceedings
- HCW Biologics Inc. (HCWB) was notified on August 19, 2025, of non-compliance with Nasdaq Listing Rule 5550(b)(1), which requires $2.5 million in stockholders' equity.
- The company was granted an extension until December 31, 2025, to evidence compliance with the Equity Rule, and until February 17, 2026, for continued listing compliance.
- To address the deficiency, HCW Biologics completed a warrant inducement transaction on November 19, 2025, generating approximately $3.8 million in net proceeds.
- During Q4 2025, the company also issued Common Stock under its Standby Equity Line of Credit, resulting in $363,858 in net proceeds.
- A settlement agreement on December 30, 2025, relating to approximately $7.4 million of outstanding legal fees, is expected to increase stockholders' equity by approximately $5.4 million as of December 31, 2025.
- Based on these transactions, the company believes its stockholders' equity now exceeds $2.5 million and is awaiting Nasdaq's formal determination.
Dec 31, 2025, 5:36 PM
HCW Biologics Enters into Warrant Inducement Agreement
HCWB
- HCW Biologics Inc. entered into a warrant inducement agreement with an investor for the immediate exercise of outstanding November 2024 and May 2025 Warrants.
- The exercise price for these outstanding warrants was reduced to $2.66 per share.
- The investor agreed to exercise warrants to purchase an aggregate of 1,510,205 shares of the company's common stock.
- This transaction is expected to generate approximately $4.0 million in gross proceeds for the company.
- In consideration for the immediate exercise, the company also agreed to issue unregistered New Warrants to purchase an aggregate of 3,020,410 shares of common stock with an exercise price of $2.41 per share.
Nov 20, 2025, 9:30 PM
HCW Biologics Inc. Announces First Patient Dosed in Phase 1 Clinical Trial for HCW9302
HCWB
New Projects/Investments
Product Launch
- On November 18, 2025, HCW Biologics Inc. announced the first patient was dosed in a Company-sponsored, multi-center Phase 1 clinical trial for its lead product candidate, HCW9302.
- The trial is evaluating HCW9302, an interleukin-2 (IL-2) fusion molecule, for the treatment of the autoimmune disorder alopecia areata.
- The Phase 1 study is a dose-escalation trial designed to treat up to 30 patients to assess safety and determine the recommended dose for subsequent clinical studies.
- The company plans to expand clinical development of HCW9302 into Phase 2 studies for alopecia areata and other autoimmune and inflammatory dermatological conditions.
Nov 18, 2025, 12:30 PM
HCW Biologics Reports Q3 2025 Results, Faces Going Concern and Nasdaq Compliance Issues
HCWB
Earnings
Profit Warning
Delisting/Listing Issues
- HCW Biologics reported a net loss of $4.6 million for Q3 2025, an increase from $3.9 million in Q3 2024, with revenues significantly decreasing to $15,606 from $426,423 in the same period.
- The company issued a going concern warning, indicating substantial doubt about its ability to continue for at least 12 months without additional funding.
- HCW Biologics is currently deficient in meeting Nasdaq's $2.5 million stockholders' equity rule and must comply by December 31, 2025, to maintain its listing.
- The company anticipates dosing the first patient in a Phase 1 clinical study for its lead product candidate, HCW9302, in autoimmune disease in the fourth quarter of 2025.
- During Q3 2025, HCW Biologics raised $2.2 million in gross proceeds by issuing 475,000 shares of Common Stock through a Standby Equity Purchase Agreement.
Nov 14, 2025, 9:50 PM
HCW Biologics Designates HCW11-040 as Franchise Immunotherapeutic
HCWB
New Projects/Investments
- HCW Biologics Inc. (NASDAQ: HCWB) has designated HCW11-040 as its franchise immunotherapeutic for internal clinical development targeting solid tumors.
- Preclinical studies showed HCW11-040 can expand TPEX cells and stimulate differentiation into anti-cancer effector T cells without triggering cytokine storm, and it outperformed pembrolizumab monotherapy in immune-cell activation, tumor infiltration enhancement, and cytotoxicity against cancer cells.
- The company will advance HCW11-040 into late IND-enabling studies to prepare for clinical trials in solid tumor treatment.
Sep 18, 2025, 1:10 PM
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