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HCW Biologics Inc.

$2.24 -$4.48 (-66.67%)
NASDAQ · 11 Sep 2026 20:00 UTC
Previous Close
$2.43
Day Range
$2.2$2.43
Year Range
$1.5$30.84
Market Cap
778.72K
AVG Volume
2.05M
Trailing/Forward PE
-0.04/-
PEG ratio
0
Dividend Yield
-
Next Earnings Date
2026-11-12
Primary Exchange
NASDAQUS
Revenue (USD)
02M4M6M8M202020212022202320242025
HCWB Revenue (USD) by year
PeriodRevenue (USD)
202554.23K
20242.57M
20232.84M
20226.72M
20210
20204.1M
Net Income (USD)
-40M-30M-20M-10M0202020212022202320242025
HCWB Net Income (USD) by year
PeriodNet Income (USD)
2025-7.96M
2024-30.02M
2023-24.99M
2022-14.9M
2021-12.86M
2020-5.8M
Operating Income (USD)
-30M-20M-10M0202020212022202320242025
HCWB Operating Income (USD) by year
PeriodOperating Income (USD)
2025-11.65M
2024-29.48M
2023-25.72M
2022-15.08M
2021-13.37M
2020-5.82M
EBITDA (USD)
-30M-20M-10M0202020212022202320242025
HCWB EBITDA (USD) by year
PeriodEBITDA (USD)
2025-5.69M
2024-27.68M
2023-23.65M
2022-14.09M
2021-12.32M
2020-5.23M
Cash Flows (USD)
-30M-20M-10M0202020212022202320242025
HCWB Cash Flows (USD) by year
PeriodCash Flows (USD)
2025-13.39M
2024-14.49M
2023-28.72M
2022-20.66M
2021-11.02M
2020-10.67M
EPS (USD)
-80-60-40-200202020212022202320242025
HCWB EPS (USD) by year
PeriodEPS (USD)
2025-63.06
2024-4.72
2023-4.2
2022-2.49
2021-2.65
2020-1.33
Expenses (USD)
010M20M30MR&DSG&ACapex202020212022202320242025
HCWB Expenses (USD) by year
PeriodExpenses (USD)
202511.05M
202428.69M
202327.06M
202227.6M
202113.52M
20209.93M
Cash & Debt (USD)
010M20M30M40MCashLong Term DebtShort Term Debt202020212022202320242025
HCWB Cash & Debt (USD) by year
PeriodCash & Debt (USD)
20251.95M
20244.67M
20233.6M
202232.06M
202136.71M
20208.46M
Debt ratios
-0.15-0.1-0.05-0202320242025
HCWB Debt ratios by year
PeriodDebt ratios
2025-0.07
2024-0.12
2023-0.05
Margins
-200%-100%0%100%20202022202320242025
HCWB Margins by year
PeriodMargins
202520%
202437.38%
2023-165.02%
202238.48%
2020100%
Return on Capital
-400%-200%0%200%400%600%202020212022202320242025
HCWB Return on Capital by year
PeriodReturn on Capital
2025-287.9%
2024443.47%
2023-185.67%
2022-39.81%
2021-25.13%
2020-40.3%
Shares Outstanding
02M4M6M8M202020212022202320242025
HCWB Shares Outstanding by year
PeriodShares Outstanding
2025349.62K
20246.47M
20236M
20225.98M
20214.93M
20204.77M
Book Value Per Share (USD)
-5051015202020212022202320242025
HCWB Book Value Per Share (USD) by year
PeriodBook Value Per Share (USD)
20257.91
2024-1.05
20232.24
20226.26
202110.39
20203.02
Total Assets (USD)
020M40M60M202020212022202320242025
HCWB Total Assets (USD) by year
PeriodTotal Assets (USD)
202524.52M
202430.24M
202328.51M
202246.81M
202153.51M
202015.4M
Employee Count
020406020212022202320242025
HCWB Employee Count by year
PeriodEmployee Count
202535
202436
202345
202244
202144
Free Cash Flow Yield
-3000%-2000%-1000%0%med -176.27%Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
HCWB Free Cash Flow Yield by year
PeriodFree Cash Flow Yield
Sep 26-1549.76%
Sep 26-1180.77%
Aug 26-1012.09%
Aug 26-1592.41%
Aug 26-1295.32%
Aug 26-960.66%
Jul 26-1023.71%
Jul 26-1310.35%
Jul 26-818.97%
Jul 26-719.97%
Jul 26-761.83%
Jun 26-530.08%
Jun 26-500.9%
Jun 26-426.55%
Jun 26-334.96%
May 26-275.75%
May 26-188.92%
May 26-447.52%
May 26-1944.35%
May 26-1413.42%
Apr 26-1702.39%
Apr 26-1461.97%
Apr 26-1749.03%
Apr 26-2379.11%
Mar 26-1442.29%
Mar 26-778.12%
Mar 26-1111.96%
Mar 26-926.63%
Feb 26-1063.91%
Feb 26-993.39%
Feb 26-883.87%
Feb 26-552.42%
Jan 26-517.58%
Jan 26-425.57%
Jan 26-416.31%
Jan 26-470.91%
Jan 26-512.96%
Dec 25-404.59%
Dec 25-365.93%
Dec 25-317.41%
Dec 25-290.16%
Nov 25-271%
Nov 25-264.75%
Nov 25-191.5%
Nov 25-236.39%
Oct 25-184.47%
Oct 25-182.11%
Oct 25-178.92%
Oct 25-175.83%
Oct 25-176.7%
Sep 25-174.54%
Sep 25-168.77%
Sep 25-127.71%
Sep 25-168.37%
Aug 25-124.81%
Aug 25-206.92%
Aug 25-7.81%
Aug 25-6.91%
Aug 25-7.73%
Jul 25-7.5%
Jul 25-7.1%
Jul 25-7.34%
Jul 25-7.87%
Jun 25-7.1%
Jun 25-6.99%
Jun 25-5.86%
Jun 25-5.29%
May 25-4.13%
May 25-3.82%
May 25-3.57%
May 25-6.04%
May 25-4.9%
Apr 25-5.41%
Apr 25-5.3%
Apr 25-4.07%
Apr 25-4.11%
Mar 25-3.11%
Mar 25-4.17%
Mar 25-3.72%
Mar 25-3.47%
Feb 25-3.33%
Feb 25-3.25%
Feb 25-3.16%
Feb 25-2.59%
Jan 25-4.55%
Jan 25-3.7%
Jan 25-3.42%
Jan 25-3.41%
Jan 25-2.88%
Dec 24-3.01%
Dec 24-2.82%
Dec 24-3.55%
Dec 24-3.16%
Nov 24-2.68%
Nov 24-1.64%
Nov 24-4.3%
Nov 24-4%
Nov 24-3.44%
Oct 24-3.2%
Oct 24-2.85%
Price to Sales
0100200300400med 12.46Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
HCWB Price to Sales by year
PeriodPrice to Sales
Sep 260.12
Sep 260.15
Aug 260.18
Aug 260.11
Aug 260.14
Aug 260.18
Jul 260.17
Jul 260.13
Jul 260.21
Jul 260.24
Jul 260.23
Jun 260.33
Jun 260.35
Jun 260.41
Jun 260.52
May 260.63
May 260.92
May 260.39
May 2612.7
May 2617.47
Apr 2614.51
Apr 2616.89
Apr 2614.12
Apr 2610.38
Mar 262.13
Mar 263.95
Mar 262.77
Mar 263.32
Feb 262.89
Feb 263.1
Feb 263.48
Feb 265.57
Jan 265.94
Jan 267.23
Jan 267.39
Jan 266.53
Jan 266
Dec 257.6
Dec 258.41
Dec 259.69
Dec 2510.6
Nov 2511.35
Nov 2511.62
Nov 2516.07
Nov 256.45
Oct 258.27
Oct 258.38
Oct 258.53
Oct 258.68
Oct 258.64
Sep 258.74
Sep 259.04
Sep 2511.95
Sep 259.06
Aug 2512.23
Aug 257.37
Aug 25126.44
Aug 25142.82
Aug 25127.68
Jul 25131.69
Jul 25139.11
Jul 25134.48
Jul 25125.51
Jun 25139.11
Jun 25141.28
Jun 25168.48
Jun 25186.72
May 25238.97
May 25258.75
May 25276.68
May 2593.4
May 25115.32
Apr 25104.28
Apr 25106.55
Apr 25138.74
Apr 25137.38
Mar 25181.36
Mar 25131.45
Mar 25147.14
Mar 25157.96
Feb 25164.56
Feb 25168.78
Feb 25173.11
Feb 25211.19
Jan 25120.42
Jan 25148.22
Jan 25160.12
Jan 25160.56
Jan 25189.98
Dec 24181.76
Dec 24194.31
Dec 24154.5
Dec 24173.54
Nov 24204.26
Nov 24333.23
Nov 24127.45
Nov 24142.71
Nov 24165.85
Oct 24178.38
Oct 24200.56
Price to Book
050100150200med 71.05May 23Aug 23Dec 23Mar 24Jun 24May 26Sep 26
HCWB Price to Book by year
PeriodPrice to Book
Sep 260.11
Sep 260.14
Aug 260.16
Aug 260.1
Aug 260.13
Aug 260.21
Jul 260.19
Jul 260.15
Jul 260.24
Jul 260.28
Jul 260.26
Jun 260.37
Jun 260.4
Jun 260.47
Jun 260.59
May 260.72
May 261.05
May 260.44
May 260.25
May 260.34
Apr 260.28
Apr 260.33
Apr 260.28
Apr 260.2
Aug 24102.04
Aug 24103.06
Jul 24102.21
Jul 24105.62
Jul 24110.22
Jul 24105.83
Jun 24110.22
Jun 24123.16
Jun 24190.79
Jun 24177.16
May 24185.68
May 24189.09
May 24187.38
May 2468.04
May 2480.08
Apr 2484.3
Apr 2492.12
Apr 24101.16
Apr 2496.34
Mar 24105.37
Mar 24105.37
Mar 2492.12
Mar 24100.55
Mar 2492.12
Feb 2471.05
Feb 2471.05
Feb 2471.05
Feb 2469.85
Jan 2466.23
Jan 2466.23
Jan 2471.05
Jan 2472.25
Dec 2374.06
Dec 2368.64
Dec 2366.84
Dec 2366.23
Dec 2368.64
Nov 2358.29
Nov 2355.02
Nov 2370.35
Nov 2380.4
Oct 2380.4
Oct 2390.45
Oct 2391.45
Oct 23107.53
Sep 2395.47
Sep 23103.01
Sep 23101
Sep 23103.01
Sep 2387.94
Aug 2397.48
Aug 23101.5
Aug 23106.53
Aug 2376.65
Jul 2379.33
Jul 2383.55
Jul 2381.25
Jul 2387.76
Jun 2383.17
Jun 2388.15
Jun 2380.87
Jun 2377.42
Jun 2360.55
May 2363.24
May 2356.34
May 2358.25
May 2356.72
Apr 2354.76
Apr 2353.09
Apr 2357.49
Apr 2353.66
Mar 2353.69
Mar 2346.82
Mar 2341.43
Mar 2358.27
Mar 2359.96
HCW Biologics Inc.
HCWB
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News: HCWB

HCW Biologics Entered an Exclusive Distribution Agreement with Akron Biotech to Commercialize HCW11-006 as Reagent Used to Support Production of Highly Functional Human CAR-T Cells

globenewswire.com · 8 Sep 2026

HCW Biologics Entered an Exclusive Distribution Agreement with Akron Biotech to Commercialize HCW11-006 as Reagent Used to Support Production of Highly Functional Human CAR-T Cells

Agreement includes pre-payment commitments for product sales and distribution of the second-generation multi-cytokine-based HCW11-006 for use as a reagent

HCW Biologics Strengthens U.S. Patent Estate for Its Lead Clinical-Stage Immunotherapeutic HCW9302 as Alopecia Areata Treatment

globenewswire.com · 2 Sep 2026

HCW Biologics Strengthens U.S. Patent Estate for Its Lead Clinical-Stage Immunotherapeutic HCW9302 as Alopecia Areata Treatment

HCW9302 is a best-in-class IL-2-based immunotherapeutic for treatment of autoimmune diseases through expanding and activating regulatory T cells Patent allowance received for use of HCW9302 as treatment for alopecia areata Phase 1 dose-escalating clinical study evaluating HCW9302 as monotherapy in patients with alopecia areata on track for completion in Q4 2026, continues to be well tolerated with no dose-limiting toxicities Preliminary readout of first two dose cohorts is encouraging -- patients diagnosed with alopecia areata show positive response after single dose of monotherapy at 3 micrograms/kg dose level MIRAMAR, Fla., Sept. 02, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company focused on developing novel fusion immunotherapeutics to treat autoimmune diseases, cancer, and senescence-associated dysplasia, announced receipt of a Notice of Allowance from the U.S. Patent and Trademark Office (“USPTO”) for claims directed to use of HCW9302 to treat alopecia areata (U.S. Patent Application Publication No.

HCW Biologics' TGF-β Trap and IL-15 Fusion is a Novel Moiety to Enhance Immunotherapeutic Activity against Diseased Cells

globenewswire.com · 25 Aug 2026

HCW Biologics' TGF-β Trap and IL-15 Fusion is a Novel Moiety to Enhance Immunotherapeutic Activity against Diseased Cells

Human studies show that the TGF-β trap and IL-15 fusion used alone promotes expansion of progenitor CD8 + T cells and NK cells Company has incorporated the TGF-β/IL-15 moiety into the constructs of its second-generation fusion immunotherapeutics constructed with novel TRBC drug development platform MIRAMAR, Fla., Aug. 25, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company focused on developing novel fusion immunotherapeutics to treat autoimmune diseases, cancer, and senescence-associated dysplasia, together with collaborators at leading research institutions, have identified a TGF-β trap and IL-15 fusion as a novel moiety with potential applications against diseased cells and viral infections.

HCW Biologics Reports Second Quarter 2026 Business and Clinical Development Highlights and Financial Results

globenewswire.com · 14 Aug 2026

HCW Biologics Reports Second Quarter 2026 Business and Clinical Development Highlights and Financial Results

MIRAMAR, Fla., Aug. 14, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a clinical-stage biopharmaceutical company focused on developing transformative fusion immunotherapeutics to treat autoimmune diseases, cancer and senescence-associated dysplasia, today reported financial results and recent business highlights for the three and six months ended June 30, 2026.

HCW Biologics Inc. Announces Pricing of $1.6 Million Private Placement Offering

globenewswire.com · 29 Jul 2026

HCW Biologics Inc. Announces Pricing of $1.6 Million Private Placement Offering

MIRAMAR, Fla., July 29, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”), (NASDAQ: HCWB), a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to treat autoimmune diseases, cancer and senescence-associated dysplasia, today announced the pricing of its $1.6 million private placement offering (the “Offering”) with a group of investors, including officers, directors and an existing stockholder of the Company, (each, and “Investor” and collectively, the “Investors”). Pursuant to a securities purchase agreement entered into with the Investors (the “Purchase Agreement”), the Company agreed to issue and sell an aggregate of 618,682 units (the “Units”), with each Unit consisting of (i) one share of the Company's common stock, par value $0.0001 per share (“Common Stock”), or, in lieu thereof, one pre-funded warrant to purchase one share of Common Stock (a “Pre-Funded Warrant”), and (ii) the right to receive one common stock purchase warrant (a “Common Warrant”) to purchase one share of Common Stock upon, and subject to, stockholder approval of the issuance thereof.

HCW Biologics Reaches Milestones for Its Proprietary Tetravalent Second-Generation T-Cell Engager Program On Track To Initiate Clinical Trials in First Half 2027

globenewswire.com · 23 Jul 2026

HCW Biologics Reaches Milestones for Its Proprietary Tetravalent Second-Generation T-Cell Engager Program On Track To Initiate Clinical Trials in First Half 2027

Company requested Type B pre-IND meeting with U.S. FDA to discuss development and regulatory strategy for its investigational tetravalent T-cell engager, HCW11-018b HCW11-018b has demonstrated potential for treating solid tumors that overexpress human tissue factor, including gynecologic and pancreatic cancers Company has developed a streamlined, robust manufacturing process designed to produce high-quality cGMP material at a lower cost than current methods MIRAMAR, Fla., July 23, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”), (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today announced that it has requested a Type B (pre-IND application) meeting with the U.S. FDA to discuss the development and regulatory strategy for its investigational lead product candidate, HCW11-018b, a tetravalent T-cell engager (“TCE”) constructed with the Company's proprietary TRBC drug development platform.

HCW Biologics Regained Compliance with Bid Price Rule Per Nasdaq Compliance Letter

globenewswire.com · 30 Jun 2026

HCW Biologics Regained Compliance with Bid Price Rule Per Nasdaq Compliance Letter

MIRAMAR, Fla., June 30, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (Nasdaq: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today reported that, on June 29, 2026, the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq” or the “Exchange”) found that the Company regained compliance with Listing Rule 5550(a)(2), the “Bid Price Rule,” per the terms set forth in the Panel's decision letter dated May 29, 2026, as amended, and is subject to a mandatory monitoring period through June 17, 2027.

HCW Biologics Announces 1-for-6 Reverse Stock Split Effective on June 30, 2026

globenewswire.com · 26 Jun 2026

HCW Biologics Announces 1-for-6 Reverse Stock Split Effective on June 30, 2026

Company completed 28 consecutive trading days above $1.00 per share on June 25, 2026 Reverse stock split effectuated to ensure ongoing compliance with the Bid Price Rule and additional requirements from Nasdaq Hearings Panel MIRAMAR, Fla., June 26, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today announced that its Board of Directors has approved a 1-for-6 reverse stock split of the Company's common stock, par value $0.0001 (“Common Stock”), which will be effective at 12:01 a.m.

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