HCW Biologics Q3: $1.8M revenue, $3.9M net loss; cash $35.9M funds through 2023

HCW Biologics Inc.

2022-Q3 EPS reported -$0.26 revenue$5,380,570

Cash and investments $35.9M as of Sep 30; sufficient to fund operations through end of 2023.
Q3 2022 revenue of $1.8M from clinical material sales to licensee Wugen; no revenue in prior year.
Net loss $3.9M in Q3 2022 vs $4.1M in Q3 2021; R&D flat at $2.7M, G&A up 23% to $1.7M.
Three clinical sites activated for HCW9218 Phase 1b/2 in advanced pancreatic cancer; first patient dosed Oct 17.
Purchased new HQ in Miramar, FL for ~$10M, financed with $6.5M loan at 5.75% interest.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HCW Biologics Inc. reported third quarter ended September 30, 2022 results: revenue $1.8 million.

Period: third quarter ended September 30, 2022
Revenue: $1.8 million
Result: reported results

Exact text from the filing

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

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Source: SEC EDGAR

accession 0000950170-22-022696

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