HCW Biologics Q2 net loss widens to $4.3M; secures $26.3M line of credit

HCW Biologics Inc.

2023-Q2 EPS reported -$0.26 revenue$664,690

Q2 2023 revenue $622,807 from licensed molecule sales to Wugen, down sharply from $3.6M in H1 2022; Wugen expected to limit purchases in 2023.
Net loss $4.3M in Q2 2023 vs $3.5M in Q2 2022; H1 net loss $9.4M vs $5.6M.
G&A expenses up 76% to $3.0M, driven by legal fees from Altor/NantCell arbitration.
Secured $26.3M development line of credit with Prime Capital Ventures, maturity April 2028; construction permits for new HQ obtained.
Cash and equivalents $17.4M as of June 30, 2023; expects to fund operations to Q4 2024.

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 0.82

HCW Biologics Inc. reported second quarter ended June 30, 2023 results: revenue $622,807, net income $4.3 million.

Period: second quarter ended June 30, 2023
Revenue: $622,807
Net income: $4.3 million
Result: reported results

Exact text from the filing

gastric cancer, urothelial carcinoma, and melanoma. 2 Second Quarter 2023 Financial Results: • Revenues: Revenues for the quarter ended June 30, 2022 and 2023 were $454,000 and $622,807, respectively. 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

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Source: SEC EDGAR

accession 0000950170-23-041596

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