{"version":"company-facts.v1","source":"https://secwatch.observer","generated_at":"2026-07-11T07:37:23.553428+00:00","company":{"ticker":"HCWB","cik":1828673,"company_name":"HCW Biologics Inc."},"pagination":{"limit":100,"returned":43,"next_cursor":null},"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer","counterparties":{"contract_counterparty":[{"display_name":"Prime Capital Ventures, LLC","detail":"credit_facility","count":2,"first_seen":"2023-04-27T23:59:59+00:00","last_seen":"2024-01-12T23:59:59+00:00","evidence_fact_ids":[81615,162322]},{"display_name":"Maxim Group LLC","detail":"underwriting","count":1,"first_seen":"2026-02-19T23:59:59+00:00","last_seen":"2026-02-19T23:59:59+00:00","evidence_fact_ids":[31789]},{"display_name":"WY Biotech Co., Ltd.","detail":"license","count":1,"first_seen":"2026-02-13T23:59:59+00:00","last_seen":"2026-02-13T23:59:59+00:00","evidence_fact_ids":[32389]},{"display_name":"Wugen Inc.","detail":"license","count":1,"first_seen":"2026-05-27T12:00:25+00:00","last_seen":"2026-05-27T12:00:25+00:00","evidence_fact_ids":[86491]}]},"facts":[{"fact_type":"shareholder_vote","fact_key":"4da0d57353f28329d226709c3c674787d51743b2","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-15T20:30:16+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-15","outcome":"passed","proposal_text":"Approval of repricing of Existing Warrants under Nasdaq Listing Rule 5635(d)","proposal_type":"other","results":[{"broker_non_votes":"1,189,957","subject":null,"votes_abstain":"23,095","votes_against":"251,605","votes_for":"1,083,864","votes_withheld":null}]},"claim":"HCW Biologics Inc. shareholders approved Approval of repricing of Existing Warrants under Nasdaq Listing Rule 5635(d) at the 2026-06-15 meeting.","evidence_excerpt":"5. The\n Company’s stockholders approved, for purposes of complying with Nasdaq Listing Rule\n 5635(d), the repricing of certain warrants issued on November 20, 2025 to purchase up to\n 3,020,410 shares of our Common Stock pursuant to that certain Existing Warrants Amendment\n Agreement, dated February 17, 2026, to reduce the exercise price of the Existing Warrants\n to $0.6055 per share, and to approve the issuance of shares of our Common Stock upon exercise\n of the Existing Warrants as so amended. For Against Abstain Broker Non-Votes 1,083,864 251,605 23,095 1,189,957","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-028699","anchor_url":"https://secwatch.observer/filing/0001493152-26-028699#claim-4da0d57353f28329d226709c3c674787d51743b2","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226028699/0001493152-26-028699-index.htm"},{"fact_type":"shareholder_vote","fact_key":"e5b7f171d0c18a5875e7768edc40b60b811f5633","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-15T20:30:16+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-15","outcome":"passed","proposal_text":"Approval of issuance of shares upon exercise of Common Warrants under Nasdaq Listing Rule 5635(d)","proposal_type":"other","results":[{"broker_non_votes":"1,189,957","subject":null,"votes_abstain":"22,518","votes_against":"233,136","votes_for":"1,102,910","votes_withheld":null}]},"claim":"HCW Biologics Inc. shareholders approved Approval of issuance of shares upon exercise of Common Warrants under Nasdaq Listing Rule 5635(d) at the 2026-06-15 meeting.","evidence_excerpt":"4. The\n Company’s stockholders approved, for purposes of complying with Nasdaq Listing Rule\n 5635(d), the issuance of shares of our Common Stock upon exercise of up to 2,477,292 Common\n Stock Purchase Warrants (the “Common Warrants”) issued pursuant to that certain\n Securities Purchase Agreement, dated February 17, 2026, entered into in connection with the\n Company’s follow-on public offering of Units, consisting of one share of Common Stock\n purchased for $0.6055 and one Common Warrant which may be exercised to purchase one share\n of Common Stock for $0.6055 per share.. For Against Abstain Broker Non-Votes 1,102,910 233,136 22,518 1,189,957","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-028699","anchor_url":"https://secwatch.observer/filing/0001493152-26-028699#claim-e5b7f171d0c18a5875e7768edc40b60b811f5633","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226028699/0001493152-26-028699-index.htm"},{"fact_type":"shareholder_vote","fact_key":"e476995eb3abe9fd467782bf89d50aa447440d09","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-15T20:30:16+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-15","outcome":"passed","proposal_text":"Approval of amendment to certificate of incorporation to implement one or more reverse stock splits","proposal_type":"reverse_split","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":"58,625","votes_against":"258,125","votes_for":"2,231,771","votes_withheld":null}]},"claim":"HCW Biologics Inc. shareholders approved Approval of amendment to certificate of incorporation to implement one or more reverse stock splits at the 2026-06-15 meeting.","evidence_excerpt":"3. The\n Company’s stockholders approved an amendment to the Company’s certificate of\n incorporation on or before the one (1) year anniversary of the Annual Meeting, to implement\n one or more reverse stock splits of the outstanding shares of the Company’s common\n stock, par value $0.0001 per share (our “Common Stock”) (as necessary to maintain\n a listing of our Common Stock on The Nasdaq Stock Market LLC (“Nasdaq”)) in an\n aggregate range from one-for-five (1:5) up to one-for-twenty (1:20). For Against Abstain Broker Non-Votes 2,231,771 258,125 58,625 —","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-028699","anchor_url":"https://secwatch.observer/filing/0001493152-26-028699#claim-e476995eb3abe9fd467782bf89d50aa447440d09","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226028699/0001493152-26-028699-index.htm"},{"fact_type":"shareholder_vote","fact_key":"f493989ddc619ef27d06b34384586ab7511ab04e","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-15T20:30:16+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-15","outcome":"passed","proposal_text":"Ratification of Crowe LLP as independent registered public accounting firm for fiscal year 2026","proposal_type":"auditor_ratification","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":"9,854","votes_against":"1,748","votes_for":"2,536,919","votes_withheld":null}]},"claim":"HCW Biologics Inc. shareholders approved Ratification of Crowe LLP as independent registered public accounting firm for fiscal year 2026 at the 2026-06-15 meeting.","evidence_excerpt":"2. The\n Company’s stockholders ratified the appointment of Crowe LLP as the independent registered\n public accounting firm of the Company for the fiscal year ending December 31, 2026. For Against Abstain Broker Non-Votes 2,536,919 1,748 9,854 —","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-028699","anchor_url":"https://secwatch.observer/filing/0001493152-26-028699#claim-f493989ddc619ef27d06b34384586ab7511ab04e","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226028699/0001493152-26-028699-index.htm"},{"fact_type":"shareholder_vote","fact_key":"f739fc18fe761907919bce3a744c32f1f8171354","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-15T20:30:16+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-15","outcome":"passed","proposal_text":"Election of Class II Directors","proposal_type":"director_election","results":[{"broker_non_votes":"1,189,957","subject":"Lisa M. Giles","votes_abstain":null,"votes_against":null,"votes_for":"1,127,580","votes_withheld":"230,984"},{"broker_non_votes":"1,189,957","subject":"Rick S. Greene","votes_abstain":null,"votes_against":null,"votes_for":"1,128,039","votes_withheld":"230,525"}]},"claim":"HCW Biologics Inc. shareholders approved Election of Class II Directors at the 2026-06-15 meeting.","evidence_excerpt":"1. The\n Company’s stockholders elected the persons listed below as Class II directors listed\n in the accompanying proxy statement to serve a three-year term expiring at the 2029 annual\n meeting of stockholders and until such director’s successor is duly elected and qualified\n or until such director’s earlier death, resignation, disqualification or removal. Nominee For Withheld Broker Non-Votes Lisa M. Giles 1,127,580 230,984 1,189,957 Rick S. Greene 1,128,039 230,525 1,189,957","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-028699","anchor_url":"https://secwatch.observer/filing/0001493152-26-028699#claim-f739fc18fe761907919bce3a744c32f1f8171354","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226028699/0001493152-26-028699-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"397899752c1a7a63ce64caf1eba00408cdb6118b","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-06-01T11:30:18+00:00","payload":{"company_response":null,"compliance_status":"extension_granted","cure_deadline":null,"deficiency_type":"minimum_bid_price","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2026-05-29","notice_type":"extension_granted","plan_due_date":null,"raw_rule_text":null,"reported_value":null,"rule_numbers":["5550(a)(2)"],"rules_cited_in_text":true},"claim":"HCW Biologics Inc. received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2)).","evidence_excerpt":"ng the exception period that may\naffect the Company’s compliance with Nasdaq requirements. If the Company regains compliance and satisfies the terms of the exception,\nthe Panel intends to impose a Discretionary Panel Monitor on the Company for an additional one-year period, pursuant to Listing Rule\n5815(d)(4)(A). SIGNATURES Pursuant\nto the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by\nthe undersigned hereunto duly authorized. HCW BIOLOGICS INC. Date: June 1, 2026 By: /s/\n Hing C. Wong Hing C. Wong, Founder and Chie","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-026529","anchor_url":"https://secwatch.observer/filing/0001493152-26-026529#claim-397899752c1a7a63ce64caf1eba00408cdb6118b","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226026529/0001493152-26-026529-index.htm"},{"fact_type":"material_agreement","fact_key":"53a18120bc0bab6b8c5a24cb28531783cd504de1","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-05-27T12:00:25+00:00","payload":{"action":"termination","agreement_name":"License","agreement_type":"license","counterparty":"Wugen Inc.","effective_date":"2026-05-21","item_codes_triggered":["1.02"],"value_text":null},"claim":"HCW Biologics Inc. terminated License with Wugen Inc. (effective 2026-05-21).","evidence_excerpt":"On May 27, 2026, HCW Biologics Inc. (the “Company”) issued a press release announcing that on May 21, 2026, the Company elected to exercise its option to terminate the exclusive worldwide license agreement with Wugen Inc. (the “License”) for ex vivo rights to the Company’s molecules HCW9201 and HCW9206.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-025336","anchor_url":"https://secwatch.observer/filing/0001493152-26-025336#claim-53a18120bc0bab6b8c5a24cb28531783cd504de1","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226025336/0001493152-26-025336-index.htm"},{"fact_type":"material_agreement","fact_key":"7a9b4c672396a315dca414a7464b303a3986382a","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-05-21T20:59:16+00:00","payload":{"action":"entry","agreement_name":"Securities Purchase Agreement","agreement_type":"equity_purchase","counterparty":"certain accredited investors","effective_date":"2026-05-21","item_codes_triggered":["1.01"],"value_text":"aggregate gross proceeds of approximately $4.0 million"},"claim":"HCW Biologics Inc. entered into Securities Purchase Agreement with certain accredited investors valued at aggregate gross proceeds of approximately $4.0 million (effective 2026-05-21).","evidence_excerpt":"On May 21, 2026, HCW Biologics Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell an aggregate of 2,846,975 units","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-024850","anchor_url":"https://secwatch.observer/filing/0001493152-26-024850#claim-7a9b4c672396a315dca414a7464b303a3986382a","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226024850/0001493152-26-024850-index.htm"},{"fact_type":"earnings_release","fact_key":"80ca7c82d1e4f1969757243ca8e66aa76d72c16d","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-05-14T20:31:08+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$3.5 million","period_text":"the three months ended March 31, 2026","report_date":"2026-05-14","result_type":"reported_results","revenue_text":"$6.5 million"},"claim":"HCW Biologics Inc. reported the three months ended March 31, 2026 results: revenue $6.5 million, net income $3.5 million.","evidence_excerpt":"an in-kind payment of a transferable minority\nequity interest in Trimmune with a fair value of $3.5 million. For the three months ended March 31, 2026, the Company recognized\n$6.5 million in revenue and $470,000 in deferred revenue. Commercial-Ready\nMolecules Used as Reagents On\nMarch 13, 2026, Science Advances, a peer-reviewed, high-impact journal, released a","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-023122","anchor_url":"https://secwatch.observer/filing/0001493152-26-023122#claim-80ca7c82d1e4f1969757243ca8e66aa76d72c16d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226023122/0001493152-26-023122-index.htm"},{"fact_type":"governance_change","fact_key":"9140e201a4ae49f93c046518509df75fbcf33ead","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-04-16T23:59:59+00:00","payload":{"change_type":"bylaw_amendment","effective_date":"2026-04-28","item_codes_triggered":["5.03"],"summary_text":"Lowered quorum requirement from majority to 33⅓% of voting power"},"claim":"HCW Biologics Inc.: Lowered quorum requirement from majority to 33⅓% of voting power (effective 2026-04-28).","evidence_excerpt":"The amendment, which is effective from and after April 28, 2026, lowers the quorum requirement contained in Section 1.5 of the Bylaws to provide that holders of thirty-three and one-third percent (33 1/3%) of the voting power, which includes the voting power that is present in person or by proxy, regardless of whether the proxy has authority to vote on any matter, constitutes a quorum for the transaction of business (the “ Amendment ”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001493152-26-017099","anchor_url":"https://secwatch.observer/filing/0001493152-26-017099#claim-9140e201a4ae49f93c046518509df75fbcf33ead","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000149315226017099/0001493152-26-017099-index.htm"},{"fact_type":"earnings_release","fact_key":"0dd6e0b385b560add630c7b5edde9fd5784741e1","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-03-31T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"the year ended December 31, 2025","report_date":"2026-03-31","result_type":"reported_results","revenue_text":"$54,232"},"claim":"HCW Biologics Inc. reported the year ended December 31, 2025 results: revenue $54,232.","evidence_excerpt":"Revenues for the years ended December 31, 2024 and 2025 were $2.6 million and $54,232, respectively.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-134936","anchor_url":"https://secwatch.observer/filing/0001193125-26-134936#claim-0dd6e0b385b560add630c7b5edde9fd5784741e1","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526134936/0001193125-26-134936-index.htm"},{"fact_type":"earnings_release","fact_key":"94f04c317bbc0fe172e7e7925eb1618dc9e07c4d","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-03-31T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"the three months ended December 31, 2025","report_date":"2026-03-31","result_type":"reported_results","revenue_text":"$27,010"},"claim":"HCW Biologics Inc. reported the three months ended December 31, 2025 results: revenue $27,010.","evidence_excerpt":"Revenues for the three months ended December 31, 2024 and 2025 were $394,804 and $27,010, respectively.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-134936","anchor_url":"https://secwatch.observer/filing/0001193125-26-134936#claim-94f04c317bbc0fe172e7e7925eb1618dc9e07c4d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526134936/0001193125-26-134936-index.htm"},{"fact_type":"material_agreement","fact_key":"dfaeac302d7eb21c266312615c01af1e2f236fba","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-02-19T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Existing Warrants Amendment Agreement","agreement_type":"other","counterparty":"the Purchaser","effective_date":"2026-02-17","item_codes_triggered":["1.01"],"value_text":null},"claim":"HCW Biologics Inc. entered into Existing Warrants Amendment Agreement with the Purchaser (effective 2026-02-17).","evidence_excerpt":"On February 17, 2026, the Company also entered into a privately negotiated agreement with the Purchaser, which holds certain existing outstanding warrants to purchase up to 3,020,410 shares of Common Stock (the “Prior Warrants”) to seek stockholder approval in accordance with applicable Nasdaq rules to reduce the exercise price of such Prior Warrants to the public offering price per Unit paid in the Offering (the “Existing Warrants Amendment Agreement”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-059578","anchor_url":"https://secwatch.observer/filing/0001193125-26-059578#claim-dfaeac302d7eb21c266312615c01af1e2f236fba","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526059578/0001193125-26-059578-index.htm"},{"fact_type":"material_agreement","fact_key":"cd0f318b0a792ef45a3fb5120de13adb98a266a1","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-02-19T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Placement Agency Agreement","agreement_type":"underwriting","counterparty":"Maxim Group LLC","effective_date":"2026-02-17","item_codes_triggered":["1.01"],"value_text":null},"claim":"HCW Biologics Inc. entered into Placement Agency Agreement with Maxim Group LLC (effective 2026-02-17).","evidence_excerpt":"On February 17, 2026, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (“Maxim” or the “Placement Agent”) pursuant to which the Company engaged the Placement Agent as the exclusive placement agent in connection with the Offering.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-059578","anchor_url":"https://secwatch.observer/filing/0001193125-26-059578#claim-cd0f318b0a792ef45a3fb5120de13adb98a266a1","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526059578/0001193125-26-059578-index.htm"},{"fact_type":"material_agreement","fact_key":"16c88781be1f91661bd29e69836fc1bc2fa3f193","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-02-19T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Securities Purchase Agreement","agreement_type":"equity_purchase","counterparty":"a single institutional investor","effective_date":"2026-02-17","item_codes_triggered":["1.01"],"value_text":"approximately $1.5 million"},"claim":"HCW Biologics Inc. entered into Securities Purchase Agreement with a single institutional investor valued at approximately $1.5 million (effective 2026-02-17).","evidence_excerpt":"On February 17, 2026, HCW Biologics Inc. (the “Company”) entered into a securities purchase agreement (“SPA”) with a single institutional investor (the \"Purchaser\") pursuant to which the Company agreed to offer and sell, in a follow-on public offering (the “Offering”), 2,477,292 units","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-059578","anchor_url":"https://secwatch.observer/filing/0001193125-26-059578#claim-16c88781be1f91661bd29e69836fc1bc2fa3f193","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526059578/0001193125-26-059578-index.htm"},{"fact_type":"material_agreement","fact_key":"614891fbdb29489377a0dda7c048990330c7747a","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2026-02-13T23:59:59+00:00","payload":{"action":"entry","agreement_name":null,"agreement_type":"license","counterparty":"WY Biotech Co., Ltd.","effective_date":"2026-02-13","item_codes_triggered":["1.01"],"value_text":null},"claim":"HCW Biologics Inc. entered into a license with WY Biotech Co., Ltd. (effective 2026-02-13).","evidence_excerpt":"On February 13, 2026, HCW Biologics Inc. and WY Biotech Co., Ltd. (“WY Biotech”), a China-based company specializing in the early-stage development of recombinant protein drugs and gene/cell therapies, today jointly announced the commencement of an exclusive worldwide license agreement covering the development and commercialization rights for certain in vivo applications for one of HCW Biologics’ proprietary molecules, HCW11-006.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-26-049953","anchor_url":"https://secwatch.observer/filing/0001193125-26-049953#claim-614891fbdb29489377a0dda7c048990330c7747a","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312526049953/0001193125-26-049953-index.htm"},{"fact_type":"equity_issuance","fact_key":"260adcbbdbed4779956967f207993ac41b66ddf9","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2025-11-20T23:59:59+00:00","payload":{"action":"other","consideration_text":"approximately $4.0 million","effective_date":"2025-11-20","item_codes_triggered":["3.02"],"purchaser":"a single institutional investor","security_type":"warrant","shares_text":"up to 3,020,410 shares of the Company's common stock"},"claim":"HCW Biologics Inc. issued up to 3,020,410 shares of the Company's common stock of warrant to a single institutional investor for approximately $4.0 million.","evidence_excerpt":"30 days of the closing date, covering the resale of the shares of common stock issuable upon exercise of the New Warrants. The gross proceeds from Inducement were approximately $4.0 million, prior to deducting financial advisory fees and estimated offering expenses payable by the Company. The Inducement closed on November 20, 2025. 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The Panel’s determination follows the Company’s hearing on September 25, 2025, at which the Company presented, and the Panel considered, the Company’s plan to regain compliance with the Equity Rule. 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Revenues for the nine months ended September 30, 2022 and 2023 were $5.4 million and $1.5 million, respectively. 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Revenues for the six months ended June 30, 2022 and 2023 were $3.6 million and $664,690, respectively. Revenues were derived exclusively from the sale of licensed","confidence":0.82,"filing_url":"https://secwatch.observer/filing/0000950170-23-041596","anchor_url":"https://secwatch.observer/filing/0000950170-23-041596#claim-bc10b93d6ba091f3fd49afce9668843ff00b03b9","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023041596/0000950170-23-041596-index.htm"},{"fact_type":"shareholder_vote","fact_key":"41021f0c5404076010ac9e4ee300272dbf51da84","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2023-06-14T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-06-13","outcome":"passed","proposal_text":"Ratification of the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023","proposal_type":"auditor_ratification","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":"45,063","votes_against":"3,374","votes_for":"21,550,829","votes_withheld":null}]},"claim":"HCW Biologics Inc. shareholders approved Ratification of the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-06-13 meeting.","evidence_excerpt":"The Company’s stockholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023: For Against Abstain Broker Non-Votes 21,550,829 3,374 45,063 N/A","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0000950170-23-028008","anchor_url":"https://secwatch.observer/filing/0000950170-23-028008#claim-41021f0c5404076010ac9e4ee300272dbf51da84","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023028008/0000950170-23-028008-index.htm"},{"fact_type":"shareholder_vote","fact_key":"0ec370a6a8660762d9aee07d3749f33b7bdef559","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2023-06-14T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-06-13","outcome":"passed","proposal_text":"Election of two Class II directors, each to serve for a three-year term expiring at the 2026 Annual Meeting of Stockholders","proposal_type":"director_election","results":[{"broker_non_votes":"2,228,627","subject":"Lisa M. 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In the first quarter of 2022, deferred revenues related to historic transactions were recognized as revenue upon meeting all requirements for revenue recognition. Revenues were derived exclusively from the sale of licensed molecules to the Company’s licensee, Wugen. • Research and development (R&D) expenses: R&D expenses for the first quarter ended March 31, 2022 and 2023 were $1.8 million and $2.3 million, respectively. The $466,135 increase, or 26%, resulted primarily from increased preclinical and clinical trial expenses. • General and administrative (G&A) expenses: G&A expenses for the first quarter ended March 31, 2022 and 2023 were $1.9 million and $3.1 million, respectively. The $1.2 million increase, or 66%, was primarily attributable to increases in professional fees, which includes legal fees associated with legal proceedi","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0000950170-23-019141","anchor_url":"https://secwatch.observer/filing/0000950170-23-019141#claim-4c7400bf719e3d8ba4890a93ac22f628471cb3b8","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023019141/0000950170-23-019141-index.htm"},{"fact_type":"material_agreement","fact_key":"09e464a46c6501dc0a4ee90baedf60de93f06549","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2023-04-27T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Development Line of Credit Agreement","agreement_type":"credit_facility","counterparty":"Prime Capital Ventures, LLC","effective_date":"2023-04-21","item_codes_triggered":["1.01"],"value_text":"$26.25 million"},"claim":"HCW Biologics Inc. entered into Development Line of Credit Agreement with Prime Capital Ventures, LLC valued at $26.25 million (effective 2023-04-21).","evidence_excerpt":"On April 21, 2023, HCW Biologics Inc. (the “Company”) entered into a secured Development Line of Credit Agreement (the “Agreement”) with Prime Capital Ventures, LLC, as lender (the “Lender”), pursuant to which the Lender shall advance loans to the Company in an aggregate principal amount not to exceed $26.25 million (the “Maximum Amount”)","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0000950170-23-015003","anchor_url":"https://secwatch.observer/filing/0000950170-23-015003#claim-09e464a46c6501dc0a4ee90baedf60de93f06549","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023015003/0000950170-23-015003-index.htm"},{"fact_type":"earnings_release","fact_key":"417b8456dac3e27dae2b8280c89859d92a6f0c63","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2023-03-28T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"the year ended December 31, 2022","report_date":"2023-03-28","result_type":"reported_results","revenue_text":"$6.7 million"},"claim":"HCW Biologics Inc. reported the year ended December 31, 2022 results: revenue $6.7 million.","evidence_excerpt":"Revenues for the year ended December 31, 2021 and 2022 were nil and $6.7 million, respectively.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0000950170-23-010313","anchor_url":"https://secwatch.observer/filing/0000950170-23-010313#claim-417b8456dac3e27dae2b8280c89859d92a6f0c63","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023010313/0000950170-23-010313-index.htm"},{"fact_type":"earnings_release","fact_key":"7dc4d8799d080a8bcbb1d90caf12e4490d29bc72","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2023-03-28T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"the fourth quarter ended December 31, 2022","report_date":"2023-03-28","result_type":"reported_results","revenue_text":"$1.3 million"},"claim":"HCW Biologics Inc. reported the fourth quarter ended December 31, 2022 results: revenue $1.3 million.","evidence_excerpt":"Revenues for the fourth quarter ended December 31, 2021 and 2022 were nil and $1.3 million, respectively.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0000950170-23-010313","anchor_url":"https://secwatch.observer/filing/0000950170-23-010313#claim-7dc4d8799d080a8bcbb1d90caf12e4490d29bc72","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017023010313/0000950170-23-010313-index.htm"},{"fact_type":"earnings_release","fact_key":"9f148dc78a094a13002dde063d3dff88e43c9fd7","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2022-11-07T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"third quarter ended September 30, 2022","report_date":"2022-11-07","result_type":"reported_results","revenue_text":"$1.8 million"},"claim":"HCW Biologics Inc. reported third quarter ended September 30, 2022 results: revenue $1.8 million.","evidence_excerpt":"securities. The Company estimates that the current cash balance is sufficient to fund operations and capital expenditures through the end of 2023. • Revenues: Revenues were $1.8 million for the three-month period ended September 30, 2022, and there were no revenues in the three-month period ended September 30, 2021. Revenues were $5.4 million for the nine-month","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0000950170-22-022696","anchor_url":"https://secwatch.observer/filing/0000950170-22-022696#claim-9f148dc78a094a13002dde063d3dff88e43c9fd7","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000095017022022696/0000950170-22-022696-index.htm"},{"fact_type":"executive_change","fact_key":"4f95debf64","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2021-10-27T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2021-10-25","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Lisa Giles was appointed as Director at HCW Biologics Inc..","evidence_excerpt":"appointed Gary Winer as a Class I member of the Board and Lisa Giles as a Class II member of the Board, in each case effective October 25, 2021.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-21-308673","anchor_url":"https://secwatch.observer/filing/0001193125-21-308673#claim-4f95debf64","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312521308673/0001193125-21-308673-index.htm"},{"fact_type":"executive_change","fact_key":"cc0696c0bf","cik":1828673,"ticker":"HCWB","company_name":"HCW Biologics Inc.","filed_at":"2021-10-27T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2021-10-25","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Gary Winer was appointed as Director at HCW Biologics Inc..","evidence_excerpt":"appointed Gary Winer as a Class I member of the Board and Lisa Giles as a Class II member of the Board, in each case effective October 25, 2021.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-21-308673","anchor_url":"https://secwatch.observer/filing/0001193125-21-308673#claim-cc0696c0bf","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1828673/000119312521308673/0001193125-21-308673-index.htm"}]}