---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-022696"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:52:17.560009+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-22-022696
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017022022696/0000950170-22-022696-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017022022696/hcwb-20221107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-022696
- JSON: https://secwatch.observer/filing/0000950170-22-022696.json
- Plain text: https://secwatch.observer/filing/0000950170-22-022696.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828673/000095017022022696/0000950170-22-022696-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.