---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-042129"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T12:05:11.057578+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# HCW Biologics amends license deal with WY Biotech; delays $4M upfront payment, adds June 2025 termination option

## Summary
- Amended License, Research and Co-Development Agreement dated November 17, 2024, due to CDMO delay.
- Restructured $7.0M upfront license fee; initial $4.0M portion originally due March 17, 2025, delayed.
- Performance milestones for earning full $7.0M nonrefundable upfront payment reduced; deadline June 2025.
- Either party may terminate if WY Biotech cannot definitively engage its CDMO by June 2025.
- No other material changes; HCW retains Opt-In Right for Americas.

## SEC filing metadata
- accession: 0000950170-25-042129
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000095017025042129/0000950170-25-042129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000095017025042129/hcwb-20250317.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-042129
- JSON: https://secwatch.observer/filing/0000950170-25-042129.json
- Plain text: https://secwatch.observer/filing/0000950170-25-042129.txt

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