HCW Biologics Inc.

For the period ended Mar 31, 2025. Filed May 15, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 15, 2025

HCWB$1.02-1.9%Stored close · as of Nov 6, 2026

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Contents

Statements of changes in stockholders’ equity (deficit)

Condensed Statements of Changes in Stockholders’ Equity (Deficit)

For the Three Months Ended March 31, 2024 and 2025

	Stockholders’ Equity
Common Stock · AdditionalPaid-In · Accumulated · TotalStockholders’
	Shares	Amount	Capital	Deficit	Equity
Balance, January 1, 2024	36,025,104	$3,603	$83,990,437	$(70,532,323)	$13,461,717
Issuance of Common Stock upon exercise of stock options	12,572	1	2,254	—	2,255
Issuance of Common Stock upon equity subscription	1,785,718	178	2,499,827	—	2,500,005
Stock-based compensation	—	—	244,685	—	244,685
Net loss	—	—	—	(7,468,061)	(7,468,061)
Balance, March 31, 2024	37,823,394	$3,782	$86,737,203	$(78,000,384)	$8,740,601

	Stockholders’ Deficit
Common Stock · AdditionalPaid-In · Accumulated · TotalStockholders’
	Shares	Amount	Capital	Deficit	Deficit
Balance, January 1, 2025	44,541,295	$4,454	$93,781,511	$(100,556,137)	$(6,770,172)
Issuance of Common Stock upon exercise of stock options	8,210	1	1,653	—	1,654
Issuance of Common Stock to Square Gate	384,615	38	149,962	—	150,000
Issuance cost of Common Stock	—	—	(22,297)	—	(22,297)
Stock-based compensation	—	—	275,642	—	275,642
Net loss	—	—	—	(2,196,875)	(2,196,875)
Balance, March 31, 2025	44,934,120	$4,493	$94,186,471	$(102,753,012)	$(8,562,048)

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.