HCW Biologics Q2 net loss widens to $5.2M; raises going-concern doubt

HCW Biologics Inc.

Q2 2026 net loss $5.2M vs $1.9M YoY; six-month loss $1.7M vs $4.1M; revenue $135.6K vs $6.6K.
HCW9302 Phase 1: all 3 patients in 3 µg/kg cohort showed ≥25% SALT score reduction; no dose-limiting toxicities; full readout Q4 2026.
Re-acquired ex vivo rights to HCW9206 from AlloTera; pursuing partner for CAR-T reagent market.
Raised $5.6M in May/July private placements; officers/directors participated.
Company expresses substantial doubt about going concern for next 12 months; Nasdaq compliance regained but monitor possible.

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