Highest-materiality recent filing
HCW Biologics signs exclusive distribution deal with Akron Biotech for HCW11-006 reagent
Exclusive worldwide distribution (ex-China) of HCW11-006 as CAR-T manufacturing reagent; 5-year term.
HCW Biologics Q2 net loss widens to $5.2M; raises going-concern doubt
Q2 2026 net loss $5.2M vs $1.9M YoY; six-month loss $1.7M vs $4.1M; revenue $135.6K vs $6.6K.
HCW Biologics non-reliance on Q1 2026 financials; EPS overstated by $0.80
Audit Committee concluded Aug 10, 2026 that Q1 2026 financials in Form 10-Q (filed May 14, 2026) should no longer be relied upon.
HCW Biologics prices $1.6M private placement of units with pre-funded and common warrants
Issued 618,682 units at $2.585 per unit; includes 218,682 shares and 400,000 pre-funded warrants.
HCW Biologics settles $2.8M in disputed payables; lien removed, EirGenix obligation cleared
Settlement extinguishes $2.8 million in disputed accounts payable, reported in Q2 ending June 30, 2026.
HCW Biologics regains Nasdaq bid price compliance; will effect 1-for-6 reverse split
Nasdaq Panel confirmed compliance with Bid Price Rule; mandatory monitoring through June 17, 2027.
HCW Biologics Reports Positive Preliminary Human Data for HCW9302 Phase 1 Trial in Alopecia Areata
All three patients in second dose cohort (3 µg/kg) showed ≥25% reduction in SALT scores after single dose, indicating clinical response.
Nasdaq panel grants HCW Biologics extension to July 29, 2026 to regain $1 bid price compliance
Must demonstrate bid price at or above $1 for 20 consecutive trading days by July 29, 2026.
HCW Biologics terminates Wugen license, regains ex vivo rights to HCW9201/9206 at no cost
Company exercised option to terminate exclusive worldwide license from Wugen for ex vivo rights to HCW9201 and HCW9206; regained rights at no cost.
HCW Biologics raises ~$4.0M in private placement at $1.405/unit
Sold 2,846,975 units at $1.405 each, each comprising 1 share (or pre-funded warrant at $1.2799) and 1 warrant exercisable at $1.28.
Q1 2026 revenue $6.5M (vs $5K Q1 2025) from Trimmune license; net income $3.5M vs net loss $2.2M YoY.
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.
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 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 prices $5.0M follow-on offering at $7.45/unit, amends existing warrants
671,140 units priced at $7.45/unit, each consisting of one share (or pre-funded warrant) and two warrants.
HCW Biologics Q1 net loss $2.2M; closed $5M equity offering; going concern doubt
Q1 revenue $5,065 vs $1.1M prior year; net loss $2.2M vs $7.5M prior; R&D down 30% to $1.5M; G&A up 42% to $2.2M.
HCW Biologics sued by BE&K for breach of construction contract; Fisk Electric files separate suit
Received BE&K complaint on April 17, 2025, alleging breach of Project Contract and Forbearance Agreement.
Entered Equity Purchase Agreement and Registration Rights Agreement with Square Gate Capital Master Fund on Feb 20, 2025.
HCW Biologics shareholders approve 1:40 reverse stock split; effective April 11, 2025
At special meeting March 31, 2025, shareholders approved reverse split (1:20 to 1:50 range) - 30.7M for, 201k against.
HCW Biologics approves 1-for-40 reverse stock split to regain Nasdaq compliance
Reverse split effective April 11, 2025; outstanding shares reduced from ~44.9M to ~1.12M.
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.
appointed Gary Winer as a Class I member of the Board and Lisa Giles as a Class II member of the Board, in each case effective October 25, 2021.
appointed Gary Winer as a Class I member of the Board and Lisa Giles as a Class II member of the Board, in each case effective October 25, 2021.
Max materiality 0.85 · Median 0.65 · Most common event other_material