HCW Biologics Inc.

For the period ended Dec 31, 2024. Filed Mar 28, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 28, 2025

HCWB$0.95-6.5%Stored close · as of Nov 9, 2026

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Contents

Balance Sheets

	December 31,	December 31,
	2023	2024
ASSETS
Current assets:
Cash and cash equivalents	$3,595,101	$4,674,572
Accounts receivable, net	1,535,757	582,201
Prepaid expenses	1,042,413	328,181
Other current assets	230,916	113,528
Total current assets	6,404,187	5,698,482
Investments	1,599,751	1,599,751
Property, plant and equipment, net	20,453,184	22,909,869
Other assets	56,538	28,476
Total assets	$28,513,660	$30,236,578
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Liabilities
Current liabilities:
Accounts payable	$6,167,223	$22,332,261
Accrued liabilities and other current liabilities	2,580,402	981,940
Short-term debt, net	—	6,314,684
Total current liabilities	8,747,625	29,628,885
Debt, net	6,304,318	7,377,865
Total liabilities	15,051,943	37,006,750
Commitments and contingencies (Note 17)
Stockholders’ equity (deficit):
Common stock:
Common, $0.0001 par value; 250,000,000 shares authorized and 36,025,104 shares issued at December 31, 2023; 250,000,000 shares authorized and 44,541,295 shares issued at December 31, 2024	3,603	4,454
Additional paid-in capital	83,990,437	93,781,511
Accumulated deficit	(70,532,323)	(100,556,137)
Total stockholders’ equity (deficit)	13,461,717	(6,770,172)
Total liabilities and stockholders’ equity (deficit)	$28,513,660	$30,236,578

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.