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 | 969,825 | 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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $4.1M | $0 | $6.7M | $2.8M | $2.6M | $54.2K |
| Gross profit | — | — | $0 | $2.6M | $560.4K | $959.4K | $10.8K |
| Net income | — | -$5.8M | -$12.9M | -$14.9M | -$25.0M | -$30.0M | -$8.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Accounts can no longer be relied on The company is telling investors that figures it has already published are wrong. Rare, and about as direct as a filing gets. Item 4.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2834
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LLY | ELI LILLY & Co | $1.20T | 55.5x | 44.7% |
| JNJ | JOHNSON & JOHNSON | $635.76B | 23.9x | 6.0% |
| ABBV | AbbVie Inc. | $504.76B | 121.0x | 8.6% |
| MRK | Merck & Co., Inc. | $358.41B | 20.0x | 1.3% |
| ABT | ABBOTT LABORATORIES | $180.63B | 27.9x | 5.7% |
| PFE | PFIZER INC | $171.16B | 22.1x | -1.6% |
| VRTX | VERTEX PHARMACEUTICALS INC / MA | $132.80B | 34.2x | 8.9% |
| BMY | BRISTOL MYERS SQUIBB CO | $125.59B | 17.8x | -0.2% |