HCW Biologics Inc.

For the period ended Jun 30, 2025. Filed Aug 18, 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.

Jun 30, 2025 · Filed Aug 18, 2025

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

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Contents

Balance sheets

Condensed Balance Sheets

	December 31,	June 30,
	2024	2025
Unaudited
ASSETS
Current assets:
Cash and cash equivalents	$4,674,572	$2,438,962
Accounts receivable, net	582,201	21,611
Prepaid expenses	328,181	295,543
Other current assets	113,528	141,009
Total current assets	5,698,482	2,897,125
Investments	1,599,751	3,348,438
Property, plant and equipment, net	22,909,869	22,635,596
Other assets	28,476	28,477
Total assets	$30,236,578	$28,909,636
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Liabilities
Current liabilities:
Accounts payable	$22,332,261	$19,354,476
Accrued liabilities and other current liabilities	981,940	1,070,421
Short-term debt, net	6,314,684	6,421,204
Total current liabilities	29,628,885	26,846,101
Debt, net	7,377,865	367,151
Contingent liability - related party	—	1,748,356
Total liabilities	37,006,750	28,961,608
Commitments and contingencies (Note 11)
Stockholders’ deficit:
Common stock:
Common, $0.0001 par value; 250,000,000 shares authorized and 1,113,532 shares issued at December 31, 2024; 250,000,000 shares authorized and 2,146,601 shares issued at June 30, 2025	111	215
Additional paid-in capital	93,785,854	104,628,555
Accumulated deficit	(100,556,137)	(104,680,742)
Total stockholders’ deficit	(6,770,172)	(51,972)
Total liabilities and stockholders’ deficit	$30,236,578	$28,909,636

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.