Highest-materiality recent filing
Q1 2026 revenue $6.5M (vs $5K Q1 2025) from Trimmune license; net income $3.5M vs net loss $2.2M YoY.
HCW Biologics enters $3M in consulting agreements contingent on public offering closing
$2.5M marketing consulting deal with I.R. Agency for 12 days of news distribution campaigns over 60 days starting May 1, 2026.
HCW Biologics adjourns Special Meeting; warrants vote moved to June 15 Annual Meeting
Special Meeting on April 27 lacked quorum; no business conducted; adjourned to June 15.
HCW Biologics reduces shareholder quorum requirement to 33-1/3%
Board approved amendment lowering quorum from majority to 33-1/3% of voting power.
HCW Biologics Q4 net gain $2.2M; annual loss narrows; HCW9302 Phase 1 underway
Q4 2025 net gain of $2.2M vs $3.4M loss in Q4 2024; FY 2025 net loss narrowed to $6.5M from $30.0M.
HCW Biologics closes exclusive worldwide license for HCW11-006; receives $7M upfront fee
Total upfront fee of $7.0M: $3.5M cash plus $3.5M transferable equity interest in licensee Trimmune.
HCW Biologics regains Nasdaq compliance; subject to one-year monitoring period
Nasdaq Hearings Panel found Company regained compliance with all continued listing rules on Feb 26, 2026.
HCW Biologics prices $1.5M follow-on offering and seeks to reprice existing warrants
Entered securities purchase agreement for follow-on offering of 2,477,292 units at $0.6055 per unit.
HCW Biologics forms JV Trimmune with WY Biotech; receives $3.5M upfront plus equity worth $3.5M
Exclusive worldwide license for HCW11-006 in vivo applications; option for Greater China rights to HCW9302.
HCW Biologics reports equity above $2.5M after deals; awaits Nasdaq compliance decision
Warrant inducement netted $3.8M; holders exercised 1.51M shares at $2.66, received new warrants at $2.41.
HCW Biologics completes $4.0M warrant inducement; lowers exercise price to $2.66
Inducement agreement lowers exercise price on 1.51M existing warrants from $7.45 to $2.66 per share.
HCW Biologics licenses HCW11-006 to Trimmune; $7M upfront (half cash, half equity)
Amended License, Research & Co-Development Agreement with Beijing Trimmune for HCW11-006 in vivo applications.
HCW Biologics doses first patient in Phase 1 trial of HCW9302 for alopecia areata
First patient dosed at Ohio State University Wexner Medical Center in multi-center first-in-human Phase 1 trial.
HCW Biologics Q3 net loss $4.6M; going concern doubt; first patient dosing expected Q4 2025
Revenue fell to $15,606 from $426,423 YoY; net loss $4.6M vs $3.9M.
Nasdaq grants HCW Biologics extension to regain compliance by Dec 31, 2025
Nasdaq Hearings Panel granted extension to demonstrate compliance with Equity Rule by Dec 31, 2025, and all listing rules by Feb 16, 2026.
HCW Biologics says licensee WY Biotech will likely miss $7M upfront payment; negotiations ongoing
WY Biotech likely won't meet Sept 30, 2025 deadline for $7.0M upfront license fee under exclusive agreement.
HCW Biologics receives Nasdaq delisting notice over equity non-compliance
Received notice Aug 19, 2025 that as of June 30, 2025 it is non-compliant with Nasdaq Equity Rule 5550(b)(1).
HCW Biologics Q2 net loss narrows to $1.9M; revenue drops 99%, going concern noted
Q2 2025 revenue $6,550 vs $618,854 in Q2 2024 after suspending Wugen license.
HCW Biologics amends $20M equity line to allow intraday share sales to Square Gate Capital
First Amendment to $20M Equity Purchase Agreement with Square Gate Capital allows multiple intraday share purchases on same trading day.
HCW Biologics Q2 net loss narrows to $1.9M; revenue drops 99%; going concern warning
Q2 2025 net loss improved to $1.9M from $15.3M in Q2 2024; revenue fell to $6.6K from $618.9K.
HCW Biologics extends $7M license fee payment from WY Biotech to Sept 30, 2025
WY Biotech completed due diligence and elected to continue exclusive license agreement with HCW Biologics.
Armistice exercises remaining 54,000 pre-funded warrants; all warrants now fully exercised
On June 18, 2025, Armistice Capital Master Fund exercised Pre-Funded Warrants for 54,000 shares of HCW Biologics common stock.
HCW Biologics regains full Nasdaq Capital Market compliance; Panel Monitor through June 2026
On June 24, 2025, Nasdaq confirmed compliance with minimum stockholders' equity (Rule 5550(b)(1)).
HCW Biologics director Gary M. Winer resigns after failing to be re-elected at 2025 annual meeting
Gary M. Winer resigned from board effective June 17, 2025; seat will remain vacant.
Armistice Capital exercises 85,000 pre-funded warrants in HCW Biologics
On June 12, 2025, Armistice exercised pre-funded warrants for 85,000 shares of HCWB common stock at $0.0001 per share.
HCW Biologics resolves Nasdaq compliance, closes $5M offering, earns $7M license fee from WY Biotech
Nasdaq confirms compliance with bid price and MVPHS rules; company believes full compliance for Capital Market listing.
HCW Biologics earns $7M upfront license fee from WY Biotech for HCW11-006
$7.0M upfront fee earned; revenue to be recognized in Q2 2025.
HCW Biologics issues 71,000 shares to Armistice upon exercise of pre-funded warrants
On May 28, 2025, Armistice exercised pre-funded warrants for 71,000 shares at $0.0001/share, issued May 29.
HCW Biologics issues 126,000 shares upon Armistice warrant exercise
Issued 126,000 common shares to Armistice Capital Master Fund on May 22, 2025 upon exercise of pre-funded warrants at $0.0001/share.
Armistice Capital exercised pre-funded warrants for 177,140 shares of common stock on May 15.
On June 17, 2025, after the Annual Meeting, HCW Biologics Inc. accepted Gary M. Winer’s resignation from the Company’s Board of Directors, effective immediately.
Max materiality 0.85 · Median 0.65 · Most common event other_material