HCW Biologics Q3 net loss widens to $4.9M; cash $11.2M; Phase 1 data positive

HCW Biologics Inc.

2023-Q3 EPS reported -$0.40 revenue$1,517,792

Revenue fell to $853K from $1.8M YoY; licensee Wugen limiting purchases for remainder of 2023.
Net loss increased 26% YoY to $4.9M; G&A jumped 107% to $3.6M due to Altor/NantCell litigation legal fees.
Cash and equivalents $11.2M at Sep 30, 2023; company believes capital sufficient through end of 2024.
Phase 1 trial of HCW9218: 50% of evaluable patients had stable disease; dose-dependent TGF-β reduction; well tolerated.
Expects to complete initial phase of both cancer studies by early 2024; plans to submit IND for HCW9302 by end of 2023.

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 quarter ended September 30, 2023 results: revenue $853,102, net income $4.9 million.

Period: quarter ended September 30, 2023
Revenue: $853,102
Net income: $4.9 million
Result: reported results

Exact text from the filing

level for future Phase 2 studies of HCW9218. 2 Third Quarter 2023 Financial Results: • Revenues: Revenues for the quarter ended September 30, 2022 and 2023 were $1.8 million and $853,102, respectively. Revenues for the nine months ended September 30, 2022 and 2023 were $5.4 million and $1.5 million, respectively. Revenues were derived exclusively from the sale of

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Source: SEC EDGAR

accession 0000950170-23-063348

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