HCW Biologics Inc. HCWB
HCW Biologics Inc. ("HCW Biologics" or the "Company") is a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation. We have created novel compounds that represent a new class of drugs that we believe have the potential to fundamentally change the treatment of autoimmune disorders and other proinflammatory diseases, cancer and senescence-associated dysplasia. Among other things, we have begun commercialization of certain commercial-ready proprietary compounds for use as reagents in the production of immunotherapeutics for the treatment of infectious diseases and cancer. We want our products to improve patients' healthspan as well as their quality of life, and possibly extend longevity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $54.2K | $2.6M | $2.8M | $6.7M | $0 | $4.1M | — |
| Cost of revenue | $43.4K | $1.6M | $2.3M | $4.1M | $0 | — | — |
| Gross profit | $10.8K | $959.4K | $560.4K | $2.6M | $0 | — | — |
| R&D | $5.4M | $6.4M | $7.7M | $9.3M | $8.2M | $7.3M | — |
| SG&A | $7.7M | $6.8M | $6.8M | $8.3M | $5.2M | $2.7M | — |
| Total operating expenses | $13.2M | $30.4M | $26.3M | $17.7M | $13.4M | $9.9M | — |
| Operating income | -$13.2M | -$29.5M | -$25.7M | -$15.1M | -$13.4M | -$5.8M | — |
| Interest expense | $845.1K | $654.3K | $283.0K | $126.7K | $0 | — | — |
| Pre-tax income | -$8.0M | -$30.0M | -$25.0M | -$14.9M | -$12.9M | -$5.8M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$8.0M | -$30.0M | -$25.0M | -$14.9M | -$12.9M | -$5.8M | — |
| EPS, basic | -10.63 | -30.96 | -0.70 | -0.42 | -0.69 | — | — |
| EPS, diluted | -10.63 | -30.96 | -0.70 | -0.42 | -0.69 | -1.49 | — |
| Shares, diluted (wtd. avg.) | $2.1M | $969.8K | $35.9M | $35.8M | $18.8M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.0M | $4.7M | $3.6M | $22.3M | $11.7M | $8.5M | $7.4M |
| Short-term investments | $0 | $0 | $0 | $9.7M | $25.0M | — | — |
| Receivables | $32.2K | $582.2K | $1.5M | $417.7K | $133.0K | $2.5M | — |
| Total current assets | $2.3M | $5.7M | $6.4M | $34.1M | $40.5M | $12.1M | — |
| Property, plant and equipment | $20.9M | $22.9M | $20.5M | $10.8M | $1.1M | $1.6M | — |
| Total assets | $24.5M | $30.2M | $28.5M | $46.8M | $53.5M | $15.4M | — |
| Accounts payable | $13.1M | $22.3M | $6.2M | $1.2M | $223.7K | $155.3K | — |
| Short-term debt | $6.8M | $6.3M | $0 | $38.3M | — | — | — |
| Total current liabilities | $21.1M | $29.6M | $8.7M | $3.0M | $2.3M | $1.0M | — |
| Long-term debt | $0 | $7.4M | $6.3M | $6.4M | $0 | — | — |
| Total liabilities | $21.8M | $37.0M | $15.1M | $9.4M | $2.3M | — | — |
| Retained earnings | -$108.5M | -$100.6M | -$70.5M | -$45.5M | -$30.6M | -$16.7M | — |
| Total equity | $2.8M | -$6.8M | $13.5M | $37.4M | $51.2M | -$16.7M | -$9.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.4M | -$14.2M | -$22.5M | -$10.4M | -$11.0M | -$10.4M | — |
| Depreciation and amortisation | $1.0M | $1.2M | $1.1M | $717.9K | $543.6K | $572.9K | — |
| Stock-based compensation | $768.6K | $1.0M | $1.0M | $1.1M | $361.0K | $21.9K | — |
| Capital expenditure | $0 | $261.6K | $6.2M | $10.3M | $47.3K | $186.7K | — |
| Investing cash flow | $0 | -$261.6K | $3.8M | $14.7M | -$35.0M | -$186.7K | — |
| Financing cash flow | $10.7M | $15.6M | -$14.5K | $6.3M | $49.3M | $11.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-134934.
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