NASDAQ · Health care

HCW Biologics Inc. (HCWB)

HCW Biologics Inc. brought in $6.7M of revenue over the twelve months to June 30, 2026, up 707.0% from a year earlier. It posted a net loss of $5.6M. In fiscal 2025 capital spending exceeded operating cash flow by $13.4M. At June 30, 2026 it held $741.3K in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 14, 2026.

Price

$1.93

-3.02% on the day · September 25, 2026

52-week range $1.50 to $29.28

Market cap

$3.5M

Revenue (last 12 months)

$6.7M

+707.0% year on year

Net margin

-83.0%

What HCW Biologics Inc. does

HCW Biologics Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker HCWB.

Revenue and profit by year

Revenue

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	$54.2K	-$13.2M	-$8M	-$10.63	-$13.4M
2024	$2.6M	-$29.5M	-$30M	-$30.96	-$14.5M
2023	$2.8M	-$25.7M	-$25M	-$28.15	-$28.7M
2022	$6.7M	-$15.1M	-$14.9M	-$16.89	-$20.7M
2021	$0	-$13.4M	-$12.9M	-$27.74	-$11M
2021	$4.1M	-$5.8M	-$5.8M	-$59.91	-$10.6M

Next report expected around October 21, 2026.

Estimated from its filing rhythm: about 68 days after its last report of August 14, 2026, its usual gap. Not a date the company has announced. See the report calendar

Where HCWB ranks in Health care

Revenue$54.2K

#627 of 646 in Health care · Bottom 3%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Health care

Latest SEC filings

What HCW Biologics Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

September 24, 2026
Material agreement 8-K
September 10, 2026
Investor disclosure 8-K
September 9, 2026
Form PRER14A filing PRER14A
September 8, 2026
Material agreement 8-K
September 8, 2026
Preliminary proxy statement PRE 14A
August 28, 2026
IPO registration (amended) S-1/A
August 20, 2026
IPO registration S-1
August 14, 2026
Quarterly report 10-Q · period to June 30, 2026Revenue rose 1,970% to $135.6K versus the same quarter last year; diluted EPS -$11.58 versus -$40.72.
August 14, 2026
Quarterly results 8-K
August 14, 2026
Quarterly report (amended) 10-Q/A · period to March 31, 2026Revenue rose 129,081% to $6.5M versus the same quarter last year; diluted EPS $1.39 versus -$11.80.

Recent insider filings (Forms 3, 4 and 144): 10, the latest on July 31, 2026. Insider transactions on SEC

Insider trades

What the people running HCW Biologics Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

Insiders bought $100K worth of shares on the open market in the last 90 days and sold none.

Bought (open market)

$100K

last 90 days

Sold

last 90 days

Net bought

38,682

$100K

Date	Insider	What	Shares	Price	Value	Filing
July 29, 2026	Garrett Scott TDirector	Boughtindirect	7,736	$2.59	$20K	Form 4
July 29, 2026	Flowers LeeSVP of Business Development	Bought	7,736	$2.59	$20K	Form 4
July 29, 2026	Wong Hing CChief Executive Officer, Director, 10% owner	Bought	23,210	$2.59	$60K	Form 4
May 22, 2026	Byam RebeccaChief Financial Officer	Bought	14,235	$1.41	$20K	Form 4
May 22, 2026	Garrett Scott TDirector	Boughtindirect	177,936	$1.41	$250K	Form 4
May 22, 2026	Wong Hing CChief Executive Officer, Director, 10% owner	Bought	113,879	$1.41	$160K	Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns HCWB

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

No holder of 5% or more has filed about this company in that window.

Latest filings below 5%: Armistice Capital, LLC 4.99% (May 15, 2026).

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

4 insiders reported holding 233,425 shares in total, about $450.5K at the last price.

Holder	Shares	As of
Wong Hing CChief Executive Officer, Director, 10% owner	125,845	July 29, 2026
Byam RebeccaChief Financial Officer	57,245	May 22, 2026
Garrett Scott TDirector	41,64441,644 held indirectly	July 29, 2026
Flowers LeeSVP of Business Development	8,691	July 29, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about HCWB

What does HCW Biologics Inc. do?

HCW Biologics Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker HCWB.

Is HCW Biologics Inc. profitable?

No. Over the twelve months to June 30, 2026 it reported a net loss of $5.6M on revenue of $6.7M.

How much revenue does HCW Biologics Inc. make?

Over the twelve months to June 30, 2026 HCW Biologics Inc. reported revenue of $6.7M. That is 707.0% more than a year earlier.

When did HCW Biologics Inc. last report?

Its most recent periodic report is the quarterly report (10-Q) filed on August 14, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the material agreement from September 24, 2026.

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Where the numbers come from

Financial figures are the values HCW Biologics Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.