HCW Biologics (HCWB) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing fusion immunotherapeutics for diseases driven by chronic inflammation, autoimmune disorders, cancer, and senescence-associated dysplasia.

• Lead product candidates include HCW9302 (IL-2 fusion protein for alopecia areata), HCW11-018b (T-cell engager for solid tumors), and HCW11-040 (cytokine/pembrolizumab fusion for dysplasia).

• Commercial-ready reagents (HCW9206, HCW9201) are being developed for use in CAR therapies and NK cell-based therapies, with plans for partnership commercialization.

• Founded in 2018, with a management team experienced in immunotherapeutics and prior successful drug development and commercialization.

Financial performance and metrics

• Gross proceeds from the July 2026 PIPE Transaction were approximately $1.6 million.

• As of August 20, 2026, 1,836,324 shares of common stock were outstanding.

• No dividends are anticipated in the foreseeable future; funds are retained for business operations.

Use of proceeds and capital allocation

• Proceeds from the exercise of July 2026 Common Warrants (up to $1.6 million) will be used for general corporate purposes, including funding clinical and preclinical programs, R&D, and working capital.