HCW Biologics Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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, 2026 · Filed May 14, 2026
HCWB$1.02-1.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of operations
Condensed Statements of Operations
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2026 | |
| Revenues: | ||
| Revenues | $5,065 | $6,543,001 |
| Cost of revenues | (4,052) | (11,071) |
| Net revenues | 1,013 | 6,531,930 |
| Operating expenses: | ||
| Research and development | 1,478,711 | 1,257,948 |
| General and administrative | 2,227,597 | 1,833,277 |
| Legal expenses, net | (1,739,493) | 6,850 |
| Indirect tax expense | — | 198,146 |
| Total operating expenses | 1,966,815 | 3,296,221 |
| Operating income (loss) | (1,965,802) | 3,235,709 |
| Interest expense | (255,822) | (109,274) |
| Change in fair value of warrant liability | — | 667,343 |
| Other income, net | 24,749 | 8,888 |
| Net income (loss) before income taxes | $(2,196,875) | $3,802,666 |
| Income tax expense | — | (330,186) |
| Net income (loss) | $(2,196,875) | $3,472,480 |
| Equity dividend to investor | — | (1,488,472) |
| Net income (loss) attributable to Common Stockholders | $(2,196,875) | $1,984,008 |
| Net income (loss) per share, basic and diluted | $(1.97) | $0.37 |
| Weighted average shares outstanding, basic and diluted | 1,116,891 | 5,425,871 |
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