{"filings":[{"id":1370438,"accession_number":"0001493152-26-031441","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-07-01T12:30:14+00:00","items":["8.01"],"status":"ready","headline":"HCW Biologics settles $2.8M in disputed payables; lien removed, EirGenix obligation cleared","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Settlement extinguishes $2.8 million in disputed accounts payable, reported in Q2 ending June 30, 2026.","B&I Contractors dismissed crossclaims with prejudice and filed satisfaction of $1.1M mechanics' lien on company property.","Company paid $1.24M to EirGenix under settlement reducing original $1.7M obligation; final payment on May 26, 2026.","Two $620k payments (March 3 and May 26, 2026) fully settled disputed EirGenix manufacturing costs.","All outstanding amounts related to these disputes are fully resolved with no remaining liabilities."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1343118,"accession_number":"0001493152-26-031204","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-06-30T12:30:20+00:00","items":["3.01","9.01"],"status":"ready","headline":"HCW Biologics regains Nasdaq bid price compliance; will effect 1-for-6 reverse split","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Nasdaq Panel confirmed compliance with Bid Price Rule; mandatory monitoring through June 17, 2027.","Company to effect 1-for-6 reverse stock split on June 30, 2026 to maintain compliance.","If non-compliant during monitoring, no additional cure period; may face delisting.","Company now compliant with all Nasdaq continued listing rules."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":"2026-06-30","daily_digest_url":"/daily/2026-06-30","daily_digest_rank":5},{"id":1286876,"accession_number":"0001493152-26-030236","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-06-26T13:00:14+00:00","items":["3.03","5.03","7.01","9.01"],"status":"ready","headline":"HCW Biologics announces 1-for-6 reverse stock split effective June 30, 2026 to maintain Nasdaq listing","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board approved 1-for-6 reverse split; effective 12:01 a.m. ET June 30, 2026; symbol HCWB unchanged.","Outstanding shares reduce from ~9.58M to ~1.60M; total authorized shares remain 250M.","Nasdaq Hearings Panel required 20 consecutive trading days >$1.00 by July 29; company met that on June 12.","Split intended to ensure continued compliance with Bid Price Rule and Panel conditions; CUSIP changes to 40423R303.","No fractional shares issued; each holder receiving a fractional share instead gets one whole share."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1065877,"accession_number":"0001493152-26-028807","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-06-16T11:15:40+00:00","items":["7.01","9.01"],"status":"ready","headline":"HCW Biologics Reports Positive Preliminary Human Data for HCW9302 Phase 1 Trial in Alopecia Areata","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All three patients in second dose cohort (3 µg/kg) showed ≥25% reduction in SALT scores after single dose, indicating clinical response.","No dose-limiting toxicities, capillary leak, cytokine release syndrome, or increased eosinophil counts reported; only mild injection-site reactions.","Company projects to establish Recommended Phase 2 Dose by year-end 2026 and is dosing third cohort (8 µg/kg).","HCW9302 is a first-in-kind IL-2 based fusion immunotherapeutic with strong IL-2Rα bias, potentially best-in-class for autoimmune diseases.","CEO Hing C. Wong stated results consistent with preclinical studies showing Treg expansion and reduced inflammation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1057438,"accession_number":"0001493152-26-028699","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-06-15T20:30:16+00:00","items":["5.07"],"status":"ready","headline":"HCW Biologics shareholders approve reverse stock split and warrant issuances at annual meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Stockholders elected Lisa M. Giles and Rick S. Greene as Class II directors for three-year terms.","Ratified Crowe LLP as independent auditor for FY2026 with 2,536,919 for, 1,748 against.","Approved reverse stock split in range 1:5 to 1:20 to maintain Nasdaq listing.","Approved issuance of up to 2,477,292 shares upon exercise of Common Warrants at $0.6055.","Approved repricing of 3,020,410 existing warrants to $0.6055 per share exercise price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":759479,"accession_number":"0001493152-26-026529","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-06-01T11:30:18+00:00","items":["3.01"],"status":"ready","headline":"Nasdaq panel grants HCW Biologics extension to July 29, 2026 to regain $1 bid price compliance","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Must demonstrate bid price at or above $1 for 20 consecutive trading days by July 29, 2026.","If deficient before September 22, 2026, Company will be immediately delisted.","Non-compliance with any other listing rule before Sep 22 gives 7 days to advise panel.","Regaining compliance will result in a Discretionary Panel Monitor for one year.","Company's hearing was on May 5, 2026; panel granted extension on May 29, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":677759,"accession_number":"0001493152-26-025336","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-05-27T12:00:25+00:00","items":["1.02","9.01"],"status":"ready","headline":"HCW Biologics terminates Wugen license, regains ex vivo rights to HCW9201/9206 at no cost","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Company exercised option to terminate exclusive worldwide license from Wugen for ex vivo rights to HCW9201 and HCW9206; regained rights at no cost.","Retained nonrefundable upfront license fee including 2.2 million shares of Wugen common stock.","Recent data in Science Advances suggests HCW9206 may reduce CAR-T production costs and improve therapeutic efficacies.","Company plans to commercialize the reagents through partners focused on CAR-T and NK-cell therapies."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":583916,"accession_number":"0001493152-26-024850","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-05-21T20:59:16+00:00","items":["1.01","3.02","7.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics raises ~$4.0M in private placement at $1.405/unit","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 2,846,975 units at $1.405 each, each comprising 1 share (or pre-funded warrant at $1.2799) and 1 warrant exercisable at $1.28.","Gross proceeds of ~$4.0M before fees; net proceeds for HCW9302 clinical trials and IND-enabling studies for HCW11-018b and HCW11-040.","E.F. Hutton acted as sole placement agent; closing expected May 21, 2026.","Registration rights agreement filed within 60 days; warrants expire 5.5 years from issuance."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":443519,"accession_number":"0001493152-26-023122","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-05-14T20:31:08+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q1 net income $3.5M on $6.5M revenue; reiterates going concern doubt, Nasdaq appeal pending","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 2026 revenue $6.5M (vs $5K Q1 2025) from Trimmune license; net income $3.5M vs net loss $2.2M YoY.","Phase 1 HCW9302 for alopecia areata enrolling; preliminary data H1 2026, full readout Q4 2026; no DLTs.","Closed exclusive worldwide license with Beijing Trimmune for $3.5M cash plus $3.5M equity in-kind on March 16, 2026.","Going concern doubt exists; Nasdaq hearing granted May 5, 2026 to appeal delisting due to bid price non-compliance.","Completed $1.5M equity financing Feb 2026 with warrants at $0.6055 exercise price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95921,"accession_number":"0001493152-26-020587","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"HCW Biologics adjourns Special Meeting; warrants vote moved to June 15 Annual Meeting","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Special Meeting on April 27 lacked quorum; no business conducted; adjourned to June 15.","Two proposals seek approval for warrants issued to Armistice Capital Master Fund Ltd.","Armistice invested $17.4M; warrants cover up to 5,497,702 shares at $0.6055 per share.","Company must seek stockholder approval every 60 days until obtained; incurring costs.","Record date for Annual Meeting is April 22, 2026; proxy statement filed April 28."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95920,"accession_number":"0001493152-26-019699","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"HCW Biologics enters $3M in consulting agreements contingent on public offering closing","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["$2.5M marketing consulting deal with I.R. Agency for 12 days of news distribution campaigns over 60 days starting May 1, 2026.","$500K consulting agreement with Bowery Consulting for six-month term covering business strategy, capital raising, and market messaging.","Both agreements contingent on closing of a public offering via Form S-1 (filed Apr 23, amended Apr 24, 2026); fees paid from offering proceeds.","Marketing Consultant is not a registered broker/dealer, will not solicit investors, and makes no guarantee of trading volume or stock price.","Consultant fees are non-refundable under any circumstances, including termination or dissatisfaction."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95919,"accession_number":"0001493152-26-017099","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-04-16T23:59:59+00:00","items":["5.03","9.01"],"status":"ready","headline":"HCW Biologics reduces shareholder quorum requirement to 33-1/3%","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Board approved amendment lowering quorum from majority to 33-1/3% of voting power.","Amendment effective April 28, 2026.","Quorum now defined as holders of 33-1/3% voting power present in person or by proxy.","Prior quorum required holders of a majority of outstanding voting power."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109363,"accession_number":"0001193125-26-134936","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-03-31T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q4 net gain $2.2M; annual loss narrows; HCW9302 Phase 1 underway","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 2025 net gain of $2.2M vs $3.4M loss in Q4 2024; FY 2025 net loss narrowed to $6.5M from $30.0M.","Q4 revenue $27K vs $395K year ago due to Wugen license suspension; FY revenue $54K vs $2.6M.","Initiated Phase 1 trial of HCW9302 for alopecia areata in Nov 2025; preliminary data expected H1 2026.","Received $3.5M upfront fee ($2.9M net) from Trimmune for worldwide license of HCW11-006; eligible for milestones and royalties.","Going concern doubt remains; Nasdaq issued bid price deficiency notice on March 26, 2026 after regaining compliance in Feb 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":0.37,"consensus_revenue_estimate":null,"consensus_revenue_actual":6500000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109362,"accession_number":"0001193125-26-109407","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-03-17T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"HCW Biologics closes exclusive worldwide license for HCW11-006; receives $7M upfront fee","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Total upfront fee of $7.0M: $3.5M cash plus $3.5M transferable equity interest in licensee Trimmune.","HCW eligible for development milestones, double-digit royalties on future sales, and proceeds from future transactions.","HCW has free option to recapture Americas rights after Phase 1 in China; Phase 1 expected H1 2027.","Trimmune granted option to license HCW9302 for China; additional payments due if option exercised."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109361,"accession_number":"0001193125-26-084291","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-03-02T23:59:59+00:00","items":["3.01","9.01"],"status":"ready","headline":"HCW Biologics regains Nasdaq compliance; subject to one-year monitoring period","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Nasdaq Hearings Panel found Company regained compliance with all continued listing rules on Feb 26, 2026.","Company demonstrated compliance with Equity Rule by Dec 31, 2025 and other rules by Feb 16, 2026.","Company subject to Mandatory Panel Monitor for one year; immediate delisting if Equity Rule violated again.","If non-compliant during monitor, Staff will issue Delist Determination Letter; Company can request new hearing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109360,"accession_number":"0001193125-26-059578","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-02-19T23:59:59+00:00","items":["1.01","7.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics prices $1.5M follow-on offering and seeks to reprice existing warrants","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Entered securities purchase agreement for follow-on offering of 2,477,292 units at $0.6055 per unit.","Gross proceeds of approximately $1.5 million before fees and expenses.","Common warrants have exercise price of $0.6055 per share, subject to shareholder approval, expire in 5 years.","Agreed to seek shareholder approval to reduce exercise price of existing warrants from $2.41 to $0.6055 per share.","Placement agent Maxim Group LLC will receive a cash fee equal to 6.9% of gross proceeds."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109359,"accession_number":"0001193125-26-049953","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2026-02-13T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"HCW Biologics forms JV Trimmune with WY Biotech; receives $3.5M upfront plus equity worth $3.5M","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Exclusive worldwide license for HCW11-006 in vivo applications; option for Greater China rights to HCW9302.","Upfront cash fee of $3.5M ($1.75M paid now, remainder due by March 6, 2026) plus co-founder equity valued at ~$3.5M.","Eligible for development milestone payments, double-digit royalties, and share of future transaction proceeds.","HCW Biologics retains royalty-free option to reclaim Americas rights after Phase 1; Phase 1 trial expected H1 2027.","JV Trimmune backed by CITIC Medical Fund and TigerMed; expenses for Phase 1 in China paid by Trimmune."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125832,"accession_number":"0001193125-25-338026","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-12-31T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"HCW Biologics reports equity above $2.5M after deals; awaits Nasdaq compliance decision","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Warrant inducement netted $3.8M; holders exercised 1.51M shares at $2.66, received new warrants at $2.41.","Issued shares under standby equity line in Q4 2025 for net proceeds of $363,858, boosting equity.","Settled $7.4M legal fees for $2.0M cash ($500K paid, $1.5M due on license fee receipt); expects $5.4M equity gain.","Company states stockholders' equity now exceeds $2.5M minimum; awaits Nasdaq formal verification."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125831,"accession_number":"0001193125-25-289873","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-11-20T23:59:59+00:00","items":["1.01","3.02","7.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics completes $4.0M warrant inducement; lowers exercise price to $2.66","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Inducement agreement lowers exercise price on 1.51M existing warrants from $7.45 to $2.66 per share.","Gross proceeds of approximately $4.0M from immediate exercise of November 2024 and May 2025 warrants.","Issues new warrants to purchase up to 3,020,410 shares at $2.41, exercisable for 5.5 years from Nov 20, 2025.","Maxim Group LLC acted as financial advisor; company to file resale registration statement within 30 days.","Dilution to existing shareholders: warrants exercisable for 3.02M new shares; HCWB stock symbol unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125830,"accession_number":"0001193125-25-286642","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-11-19T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"HCW Biologics licenses HCW11-006 to Trimmune; $7M upfront (half cash, half equity)","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amended License, Research & Co-Development Agreement with Beijing Trimmune for HCW11-006 in vivo applications.","$7.0M upfront fee: $3.5M cash at closing, $3.5M in Trimmune equity.","Company retains payment-free option to recapture rights for US, Canada, Central & South America after Phase 1.","Trimmune responsible for all R&D, manufacturing, clinical, regulatory, commercialization costs in its territory.","If closing not completed by Jan 16, 2026, all IP and rights to HCW11-006 return to HCW."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125829,"accession_number":"0001193125-25-285325","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-11-18T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"HCW Biologics doses first patient in Phase 1 trial of HCW9302 for alopecia areata","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["First patient dosed at Ohio State University Wexner Medical Center in multi-center first-in-human Phase 1 trial.","HCW9302 is a subcutaneous IL-2 fusion molecule designed to expand Treg cells, built on the TOBI platform.","Trial plans to enroll up to 30 patients; primary objectives are safety and determination of recommended Phase 2 dose.","Secondary endpoints include disease response and effects on Treg cell proliferation; expansion into other autoimmune and inflammatory conditions is planned."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125828,"accession_number":"0001193125-25-283230","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-11-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q3 net loss $4.6M; going concern doubt; first patient dosing expected Q4 2025","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue fell to $15,606 from $426,423 YoY; net loss $4.6M vs $3.9M.","Substantial doubt about going concern for 12 months from Sep 30, 2025.","Nasdaq Panel granted continued listing subject to compliance with Equity Rule by Dec 31, 2025.","Issued 475,000 shares for $2.2M gross proceeds via Standby Equity Purchase Agreement.","Phase 1 trial of HCW9302 in autoimmune disease to dose first patient Q4 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":-11.34,"consensus_revenue_estimate":null,"consensus_revenue_actual":27222.0,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125827,"accession_number":"0001193125-25-240890","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-10-16T23:59:59+00:00","items":["3.01"],"status":"ready","headline":"Nasdaq grants HCW Biologics extension to regain compliance by Dec 31, 2025","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Nasdaq Hearings Panel granted extension to demonstrate compliance with Equity Rule by Dec 31, 2025, and all listing rules by Feb 16, 2026.","Company was non-compliant with Listing Rule 5550(b)(1) (minimum stockholders' equity) as of June 30, 2025.","Hearing held September 25, 2025; Panel considered Company's compliance plan.","Company must timely file Form 10-Q for Q3 and notify Nasdaq of significant events during exception period.","Panel may review its decision within 45 calendar days after written decision."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142585,"accession_number":"0000950170-25-113265","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-09-05T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"HCW Biologics says licensee WY Biotech will likely miss $7M upfront payment; negotiations ongoing","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["WY Biotech likely won't meet Sept 30, 2025 deadline for $7.0M upfront license fee under exclusive agreement.","WY Biotech has not finalized CDMO and investor agreements, delaying payment as previously reported.","Company and WY Biotech are negotiating potential further revisions and additions to the license agreement.","Delay follows earlier extension from July 18, 2025; no revised payment date has been set."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142584,"accession_number":"0000950170-25-110174","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-08-19T23:59:59+00:00","items":["3.01"],"status":"ready","headline":"HCW Biologics receives Nasdaq delisting notice over equity non-compliance","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Received notice Aug 19, 2025 that as of June 30, 2025 it is non-compliant with Nasdaq Equity Rule 5550(b)(1).","Trading suspension set for Aug 28, 2025 unless hearing requested by Aug 26; company plans to request stay.","Subject to Panel Monitor through June 23, 2026; no compliance plan opportunity if non-compliant again.","Company considering all options but no assurance the Panel will grant continued listing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142579,"accession_number":"0000950170-25-109637","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K/A","filed_at":"2025-08-18T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q2 net loss narrows to $1.9M; revenue drops 99%, going concern noted","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 2025 revenue $6,550 vs $618,854 in Q2 2024 after suspending Wugen license.","Net loss improved to $1.9M from $15.3M YoY due to $10.4M arbitration legal fees in prior year.","Closed $5.0M equity offering on May 15, 2025; extinguished $7.7M debt via restructuring.","Substantial doubt about going concern without additional funding within 12 months.","Phase 1 trial for HCW9302 in alopecia areata on track for Q3 2025 launch."],"consensus_eps_estimate":null,"consensus_eps_actual":-9.86,"consensus_revenue_estimate":null,"consensus_revenue_actual":11615.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142583,"accession_number":"0000950170-25-109139","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-08-15T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"HCW Biologics amends $20M equity line to allow intraday share sales to Square Gate Capital","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["First Amendment to $20M Equity Purchase Agreement with Square Gate Capital allows multiple intraday share purchases on same trading day.","Intraday Put Shares priced at 100% of lowest trade price during shortened valuation period after Transfer Agent confirms DWAC.","Company may submit additional put notices only after prior shares' DWAC confirmed; investor must accept within 30 minutes.","Total commitment remains $20M over 36 months; no other changes to original February 2025 terms."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142582,"accession_number":"0000950170-25-109035","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-08-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q2 net loss narrows to $1.9M; revenue drops 99%; going concern warning","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 2025 net loss improved to $1.9M from $15.3M in Q2 2024; revenue fell to $6.6K from $618.9K.","Wugen license suspended for one year; company seeks new partner for HCW9206.","Raised $5.0M equity in May 2025; extinguished $6.9M debt via restructuring.","Company expresses substantial doubt about ability to continue as going concern for next 12 months.","On track to initiate Phase 1 trial for HCW9302 in autoimmune disorder in Q3 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":-9.86,"consensus_revenue_estimate":null,"consensus_revenue_actual":11615.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142581,"accession_number":"0000950170-25-096950","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-07-18T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"HCW Biologics extends $7M license fee payment from WY Biotech to Sept 30, 2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["WY Biotech completed due diligence and elected to continue exclusive license agreement with HCW Biologics.","WY Biotech's obligation includes a $7.0 million upfront license fee, originally due earlier.","Parties agreed to extend payment deadline; confirmation of wire transfer expected on or before Sept 30, 2025.","Amendment accommodates WY Biotech's timing for finalizing CDMO and investor agreements."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142580,"accession_number":"0000950170-25-091891","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-07-01T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Armistice exercises remaining 54,000 pre-funded warrants; all warrants now fully exercised","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["On June 18, 2025, Armistice Capital Master Fund exercised Pre-Funded Warrants for 54,000 shares of HCW Biologics common stock.","With this exercise, all 513,140 Pre-Funded Warrants originally granted are fully exercised and none remain outstanding.","Exercise price was $0.0001 per share, with negligible cash proceeds to the Company."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160645,"accession_number":"0000950170-25-090183","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-06-26T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"HCW Biologics regains full Nasdaq Capital Market compliance; Panel Monitor through June 2026","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["On June 24, 2025, Nasdaq confirmed compliance with minimum stockholders' equity (Rule 5550(b)(1)).","Had previously regained compliance with bid price, public float, and market value rules on May 13, 2025.","All listing criteria now met; previously disclosed compliance matters closed.","Subject to Panel Monitor for one year through June 23, 2026; failure requires hearing not plan submission."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160644,"accession_number":"0000950170-25-089035","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-06-23T23:59:59+00:00","items":["5.02","5.07","8.01","9.01"],"status":"ready","headline":"HCW Biologics director Gary M. Winer resigns after failing to be re-elected at 2025 annual meeting","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Gary M. Winer resigned from board effective June 17, 2025; seat will remain vacant.","Shareholder vote: Scott T. Garrett elected with 534,541 for; Winer had 133,365 for and 410,361 withheld.","Stockholders ratified Crowe LLP as auditor for FY 2025 (693,874 for, 595 against).","Broadridge technical glitch prevented some stockholders from virtual meeting; a quorum was present and meeting validly held.","Replay of annual meeting available at www.virtualshareholdermeeting.com/HCWB2025 through July 31, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160643,"accession_number":"0000950170-25-086258","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-06-13T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Armistice Capital exercises 85,000 pre-funded warrants in HCW Biologics","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["On June 12, 2025, Armistice exercised pre-funded warrants for 85,000 shares of HCWB common stock at $0.0001 per share.","This exercise leaves Armistice holding pre-funded warrants exercisable for 54,000 additional shares.","Prior exercises: 177,140 shares on May 15, 126,000 on May 22, and 71,000 on May 29, 2025.","The warrants were issued under a Securities Purchase Agreement dated May 13, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160642,"accession_number":"0000950170-25-082005","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-06-05T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"HCW Biologics resolves Nasdaq compliance, closes $5M offering, earns $7M license fee from WY Biotech","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Nasdaq confirms compliance with bid price and MVPHS rules; company believes full compliance for Capital Market listing.","Closed $5M follow-on offering (671,140 units at $7.45/unit) and reduced existing warrant exercise price to $7.45.","WY Biotech license fully binding; HCW Biologics earns $7M upfront fee recognized in Q2 2025.","Converted $6.6M secured notes into common stock, warrants, and Wugen shares; reduced debt and improved equity."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160641,"accession_number":"0000950170-25-081404","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-06-04T23:59:59+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics earns $7M upfront license fee from WY Biotech for HCW11-006","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["$7.0M upfront fee earned; revenue to be recognized in Q2 2025.","WY Biotech completed due diligence and confirmed commitment; agreement now fully binding.","HCWB eligible for additional development milestones and double-digit royalties on future sales.","HCWB has opt-in rights to recapture development/commercialization rights in U.S., Canada, Central and South America after Phase 1.","WY Biotech bears all R&D, manufacturing, clinical, and commercialization costs; HCWB responsible only if it exercises opt-in."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160640,"accession_number":"0000950170-25-079766","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-05-30T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"HCW Biologics issues 71,000 shares to Armistice upon exercise of pre-funded warrants","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["On May 28, 2025, Armistice exercised pre-funded warrants for 71,000 shares at $0.0001/share, issued May 29.","Prior exercises: 177,140 shares on May 15 and 126,000 shares on May 22 from the same warrant grant.","Remaining pre-funded warrants held by Armistice now cover 139,000 shares of common stock.","Warrants originated from a Securities Purchase Agreement entered into on May 13, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160639,"accession_number":"0000950170-25-076994","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-05-23T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"HCW Biologics issues 126,000 shares upon Armistice warrant exercise","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 126,000 common shares to Armistice Capital Master Fund on May 22, 2025 upon exercise of pre-funded warrants at $0.0001/share.","Remaining pre-funded warrants held by Armistice cover 210,000 shares as of May 22, 2025.","This is the second exercise tranche; 177,140 shares were issued on May 15, 2025 from the same warrants.","Exercise generates negligible proceeds to the company due to $0.0001 per share exercise price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160638,"accession_number":"0000950170-25-075235","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-05-20T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Armistice exercises 177,140 pre-funded warrants; convertible notes converted to insider shares at $7.45","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Armistice Capital exercised pre-funded warrants for 177,140 shares of common stock on May 15.","Convertible Bridge Notes ($270k principal, 10% PIK, due May 2026) converted at $7.45/share.","CEO Hing C. Wong received 8,054 shares; Chairman Scott Garrett got 13,423 shares.","Director Gary Winer received 1,342 shares; all conversion shares subject to 90-day lockup.","Note holders also get contingent proceeds from future sale of Wugen common stock."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160637,"accession_number":"0000950170-25-072825","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-05-15T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics Q1 net loss $2.2M; closed $5M equity offering; going concern doubt","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 revenue $5,065 vs $1.1M prior year; net loss $2.2M vs $7.5M prior; R&D down 30% to $1.5M; G&A up 42% to $2.2M.","Closed $5.0M equity offering on May 15 with one institutional investor; used to fund Phase 1 trial for HCW9302 in alopecia areata.","Delivered technology report to WY Biotech for licensing of HCW11-006; expects $7.0M upfront fee after 30-day diligence.","Received Nasdaq compliance letter for bid price, public float, MVPHS; must comply with all listing rules by June 16, 2025.","Substantial doubt about ability to continue as going concern for 12 months; additional funding needed."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.05,"consensus_revenue_estimate":null,"consensus_revenue_actual":5065.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.82,"calibrated_materiality_score":0.82,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160636,"accession_number":"0000950170-25-072700","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-05-15T23:59:59+00:00","items":["1.01","7.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics prices $5.0M follow-on offering at $7.45/unit, amends existing warrants","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["671,140 units priced at $7.45/unit, each consisting of one share (or pre-funded warrant) and two warrants.","Gross proceeds of $5.0M; closed May 15, 2025; Maxim Group as sole placement agent.","Amended existing warrants for 167,925 shares, reducing exercise price from $41.20 to $7.45 per share.","Warrants exercisable immediately at $7.45, expire in five years; pre-funded warrants at $0.0001, no expiration.","Proceeds to fund clinical trials for HCW9302, business development, R&D, and general corporate purposes."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160635,"accession_number":"0000950170-25-056843","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-04-22T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"HCW Biologics sued by BE&K for breach of construction contract; Fisk Electric files separate suit","summary_kind":"llm","event_type":"litigation","confidence":"high","bullets":["Received BE&K complaint on April 17, 2025, alleging breach of Project Contract and Forbearance Agreement.","BE&K seeks damages, interest, and costs; other defendants filed cross-claims against HCW Biologics.","Fisk Electric filed separate lawsuit on April 18, 2025, against HCW Biologics and others.","Company made $1.0M partial payment to BE&K under forbearance agreement, but loan from Cogent Bank remains classified as short-term debt due to default risk.","Company is seeking alternative financing to satisfy mechanic's liens and complete construction of its headquarters."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160634,"accession_number":"0000950170-25-053745","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-04-14T23:59:59+00:00","items":["1.01","8.1","8.01","9.01"],"status":"ready","headline":"HCW Biologics files preliminary S-1 for resale of shares under Equity Purchase Agreement with Square Gate Capital","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Entered Equity Purchase Agreement and Registration Rights Agreement with Square Gate Capital Master Fund on Feb 20, 2025.","Filed preliminary S-1 with SEC on April 4, 2025 for resale of Commitment Shares and future issuances.","SEC letter on April 8, 2025 confirmed it will not review the registration statement.","Company will request SEC accelerate effectiveness to on or about April 16, 2025.","Final prospectus to be filed under Rule 424(b)(3) promptly after effectiveness."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160633,"accession_number":"0000950170-25-048619","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-04-01T23:59:59+00:00","items":["3.03","5.03","7.01","9.01"],"status":"ready","headline":"HCW Biologics approves 1-for-40 reverse stock split to regain Nasdaq compliance","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Reverse split effective April 11, 2025; outstanding shares reduced from ~44.9M to ~1.12M.","Purpose: raise bid price above $1.00 to regain compliance with Nasdaq Listing Rule 5810(c)(3)(A).","Authorized shares remain 250M; no change to par value ($0.0001).","Fractional shares rounded up; CUSIP changes to 40423R204.","Stockholders approved at special meeting March 31, 2025; board acted same day."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160632,"accession_number":"0000950170-25-048586","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-04-01T23:59:59+00:00","items":["5.07","8.01"],"status":"ready","headline":"HCW Biologics shareholders approve 1:40 reverse stock split; effective April 11, 2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["At special meeting March 31, 2025, shareholders approved reverse split (1:20 to 1:50 range) - 30.7M for, 201k against.","Board set final ratio at 1:40; effective 12:01 a.m. ET April 11, 2025; trading symbol remains HCWB.","Shareholders also approved ELOC with Square Gate Capital Master Fund and conversion of up to $6.905M of senior secured notes.","Note conversion proposal had 19.1M abstentions, suggesting possible insider conflict; approved with 7.8M for.","Reverse split aims to regain Nasdaq listing compliance; new CUSIP 40423R204."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178863,"accession_number":"0000950170-25-046716","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-03-28T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"HCW Biologics reports FY2024 net loss $30M; going concern doubt, plans financing","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["FY2024 revenue $2.6M (vs $2.8M); net loss $30.0M (vs $25.0M); legal expenses $15.9M from arbitration.","Q4 2024 revenue $394,804 (vs $1.3M); net loss $3.4M (vs $10.7M).","Substantial doubt about going concern; financing plan includes $20M equity line with Square Gate and $7M milestone from WY Biotech license.","Nasdaq extension to April 28 (bid price) and June 15 (other rules); special meeting March 31 for reverse split and conversions.","IND cleared for HCW9302 Phase 1 in alopecia areata; Phase 2 ovarian cancer study closed due to poor enrollment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178862,"accession_number":"0000950170-25-042129","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-03-19T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"HCW Biologics amends license deal with WY Biotech; delays $4M upfront payment, adds June 2025 termination option","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amended License, Research and Co-Development Agreement dated November 17, 2024, due to CDMO delay.","Restructured $7.0M upfront license fee; initial $4.0M portion originally due March 17, 2025, delayed.","Performance milestones for earning full $7.0M nonrefundable upfront payment reduced; deadline June 2025.","Either party may terminate if WY Biotech cannot definitively engage its CDMO by June 2025.","No other material changes; HCW retains Opt-In Right for Americas."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178861,"accession_number":"0000950170-25-034169","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-03-06T23:59:59+00:00","items":["3.01","9.01"],"status":"ready","headline":"HCW Biologics gets Nasdaq extension to regain compliance by June 15, 2025","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Panel granted extension; must meet bid price rule by April 25, 2025, all other rules by June 15, 2025.","Company transferring to Nasdaq Capital Market; previously failed MVLS ($50M), MVPHS ($15M), and bid price ($1) rules.","Hearing held Feb 13, 2025; Panel accepted Company's compliance plan.","CEO Hing C. Wong expressed optimism about executing strategy and advancing immunotherapies."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178860,"accession_number":"0000950170-25-024989","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-02-21T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"HCW Biologics secures $20M equity purchase agreement, expandable to $40M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Equity Purchase Agreement with Square Gate Capital Master Fund for up to $20M initial, up to $40M total.","Company may sell shares at 98% of lowest daily VWAP over 3-day valuation period; no obligation to sell.","36-month commitment period; Investor prohibited from short sales or hedging.","$150,000 commitment fee paid in common shares; Registration Rights Agreement filed.","Proceeds to fund clinical development programs and expand R&D activities."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178859,"accession_number":"0000950170-25-016390","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-02-07T23:59:59+00:00","items":["3.01","8.01","9.01"],"status":"ready","headline":"HCW Biologics receives Nasdaq delisting notice for bid price and MVPHS noncompliance","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Failed to regain compliance with minimum bid price ($1.00) by Feb 3, 2025 and MVPHS ($15M) by Feb 4, 2025.","Nasdaq Staff notified company on Feb 5, 2025 that securities are subject to delisting unless hearing requested.","Company plans to request hearing before Nasdaq Hearing Panel; will present plan to evidence compliance.","Previously disclosed noncompliance with MVLS Rule; hearing request stays delisting action pending panel decision.","No assurance that Panel will grant continued listing or that compliance can be achieved."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178858,"accession_number":"0000950170-25-012021","cik":1828673,"company_name":"HCW Biologics Inc.","ticker":"HCWB","form_type":"8-K","filed_at":"2025-02-03T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"HCW Biologics gets FDA clearance for Phase 1 trial of HCW9302 in alopecia areata","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["FDA cleared IND for HCW9302, a first-in-class IL-2 fusion protein, in moderate-to-severe alopecia areata.","Phase 1 dose-escalation trial will evaluate safety and T reg cell expansion via subcutaneous injection.","No curative FDA-approved treatments currently exist for alopecia areata.","Company plans to expand clinical development to other autoimmune diseases after Phase 1.","Founder and CEO Hing C. Wong called the clearance a milestone for the company."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":14343641.783505153,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2025-02-03T23:59:59+00:00|178858"}