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HCWBHCW Biologics Inc.
$4.47$2M
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HCWB logoHCW Biologics Inc.(HCWB)Earnings, Financials & Key Ratios

HCWB•NASDAQ
$4.47
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryImmunology and Inflammation Therapies
AboutHCW Biologics Inc., a preclinical stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases. The company's lead products include HCW9218, which is an injectable immunotherapeutic for patients with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as pulmonary fibrosis; and HCW9302 for auto-immune diseases, such as alopecia areata and metabolic diseases. It also develops HCW9201, a cell-based therapy that is in Phase II clinical trials for the treatment of patients with relapsed/refractory acute myeloid leukemia; and HCW9206 for the treatment of acute myeloid leukemia. The company was incorporated in 2018 and is headquartered in Miramar, Florida.Show more
  • Revenue$54K-97.9%
  • EBITDA-$10M+63.9%
  • Net Income-$8M+73.5%
  • EPS (Diluted)-63.78-1280.5%
  • Gross Margin20%-46.5%
  • EBITDA Margin-18836.7%-1608.8%
  • Operating Margin-20757.65%-1707.4%
  • Net Margin-14677.14%-1154.8%
  • ROE-287.9%+67.9%

HCWB Price & Volume

HCW Biologics Inc. (HCWB) stock price & volume — 10-year historical chart

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Erratic Revenue Growth Masks Structural Liquidity Risks

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Imminent liquidity and dilution

Key Thesis Takeaways

  • HCW Biologics remains in a high-risk, pre-commercial development phase characterized by extreme revenue volatility and a persistent reliance on external financing.
  • While the company reported a 1,290.8% revenue surge in 2026Q1, this appears to be driven by non-recurring milestones rather than a sustainable commercial model.
  • Investors should remain cautious as the firm's negative free cash flow and precarious current ratio of 0.09 suggest significant ongoing dilution and solvency risks.

Verdict Logic

the company's inability to generate consistent cash flow, coupled with a current ratio of 0.09, indicates an unsustainable capital structure that poses a high risk of shareholder dilution.

HCWB Growth Metrics

HCW Biologics Inc. (HCWB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-57.9%
3 Years-79.94%
TTM356.16%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM93.41%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-1234.49%

Return on Capital

10 Years-161.17%
5 Years-199.32%
3 Years-308.03%
Last Year-553.87%

Latest HCWB News

Recent stock market news and headlines for HCW Biologics Inc. (HCWB)

GlobeNewsWire·Jun 30, 2026
HCW Biologics Regained Compliance with Bid Price Rule Per Nasdaq Compliance Letter

MIRAMAR, Fla., June 30, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (Nasdaq: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today reported that, on June 29, 2026, the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq” or the “Exchange”) found that the Company regained compliance with Listing Rule 5550(a)(2), the “Bid Price Rule,” per the terms set forth in the Panel's decision letter dated May 29, 2026, as amended, and is subject to a mandatory monitoring period through June 17, 2027.

GlobeNewsWire·Jun 26, 2026
HCW Biologics Announces 1-for-6 Reverse Stock Split Effective on June 30, 2026

Company completed 28 consecutive trading days above $1.00 per share on June 25, 2026 Reverse stock split effectuated to ensure ongoing compliance with the Bid Price Rule and additional requirements from Nasdaq Hearings Panel MIRAMAR, Fla., June 26, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today announced that its Board of Directors has approved a 1-for-6 reverse stock split of the Company's common stock, par value $0.0001 (“Common Stock”), which will be effective at 12:01 a.m.

Benzinga·Jun 16, 2026
Microcap HCW Biologics' Therapy Shows Early Promise Against Autoimmune Hair Loss

HCW Biologics Inc. (NASDAQ:HCWB) stock fell during Tuesday's session. The company announced preliminary results from its Phase 1 trial for HCW9302, an IL-2-based treatment for alopecia areata.

GlobeNewsWire·Jun 16, 2026
HCW Biologics Announces Positive Results for Preliminary Human Data Readout for Phase 1 Clinical Trial Evaluating IL-2 Based Fusion Immunotherapeutic, HCW9302 Monotherapy, in Alopecia Areata

Potentially best-in-class IL-2 based treatment for autoimmune diseases by expanding and activating regulatory T cells Readout for dose-escalating clinical study for first two dose cohorts All participants in second dose cohort at the dose level of 3 micrograms/kg body weight showed positive clinical response after single dose administration Well tolerated, with no dose-limiting toxicities or significant known IL-2-treatment-related adverse effects, including no reported incidence of capillary leak, cytokine release syndrome, or increase in blood eosinophil counts HCW Biologics projects to establish the Recommended Phase 2 Dose by year end 2026 MIRAMAR, Fla., June 16, 2026 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (“HCWB” or the “Company”) (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today announced a positive preliminary human data readout for the first two dose cohorts from its dose-escalating Phase 1 clinical trial of HCW9302, an IL-2 based fusion immunotherapeutic, in patients with alopecia areata.

Peers Comparison

Key metrics vs top competitors for HCW Biologics Inc. (HCWB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HCWB logoHCWBHCW Biologics Inc.Current
$4.47$1.55M-0.07-97.89%-14677.14%-287.9%—
IMVT logoIMVTImmunovant, Inc.
$40.09$8.23B-14.47——-68.16%—
ARQT logoARQTArcutis Biotherapeutics, Inc.
$27.67$3.46B-212.8591.34%-0.57%-1.41%—
KYMR logoKYMRKymera Therapeutics, Inc.
$119.24$9.74B-32.31-16.72%-612.17%-25.02%—
RCUS logoRCUSArcus Biosciences, Inc.
$30.25$3.05B-9.19-4.26%-156.36%-68.97%—
TGTX logoTGTXTG Therapeutics, Inc.
$53.52$8.19B19.3287.32%65.95%87.36%—

Compare HCWB vs Peers

HCW Biologics Inc. (HCWB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IMVT

Most directly comparable listed peer for HCWB.

Scale Benchmark

vs MRK

Larger-name benchmark to compare HCWB against a more recognizable public peer.

Peer Set

Compare Top 5

vs IMVT, ARQT, KYMR, RCUS

HCWB SEC Filings & Documents

HCW Biologics Inc. (HCWB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 21, 2026·SEC

Material company update

May 14, 2026·SEC

Material company update

Apr 30, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 31, 2026·SEC

FY 2025

Mar 28, 2025·SEC

10-Q Quarterly Reports

4
FY 2026

May 14, 2026·SEC

FY 2025

Nov 14, 2025·SEC

FY 2025

Aug 18, 2025·SEC

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HCWB Frequently Asked Questions

HCW Biologics Inc. (HCWB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is HCW Biologics Inc.'s revenue?

HCW Biologics Inc. (HCWB) reported $6.6M in revenue for fiscal year 2025.

How fast is HCW Biologics Inc. growing?

HCW Biologics Inc. (HCWB) saw revenue decline by 97.9% over the past year.

Is HCWB profitable?

HCW Biologics Inc. (HCWB) reported a net loss of $1.6M for fiscal year 2025.

Dividend & Returns
What is HCWB's return on equity?

HCW Biologics Inc. (HCWB) has a return on equity (ROE) of -287.9%. Negative ROE indicates the company is unprofitable.

What is HCW Biologics Inc.'s free cash flow?

HCW Biologics Inc. (HCWB) had negative free cash flow of $11.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in HCWB back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

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