State Ledger
Company profile

HCW Biologics Inc. CIK 1828673

Ticker
HCWB (Nasdaq)
Industry
Pharmaceutical Preparations
Headquarters
Miramar, FL 33025
Fiscal year end
2025 (FY)
Market Data
Close
$1.28
Change
-$0.35
Change %
-21.30%
Volume
7,913

HCWB · trading date Oct 13, 2026 · previous close $1.62 · source: Alpaca (IEX feed, not consolidated full-market data).

Key Financials
Revenue
—
Net income
-$7.96M
Total assets
$24.52M
Total liabilities
$21.76M
Stockholders' equity
$2.76M
Cash & equivalents
$1.95M
Operating income
-$13.16M
Operating cash flow
-$13.39M
Capital expenditures
$0

Fiscal year 2025, via 10-K filed 2026-03-31. A dash means this figure wasn't reported in the source filing under a field State Ledger recognizes - not that the value is zero.

Financial Performance
Operating margin
—
Net margin
—
Free cash flow
-$13.39M
Free cash flow margin
—
Liabilities / assets
88.7%
Equity / assets
11.3%
CapEx / revenue
—
Operating cash flow / net income
1.68×

Derived from the fiscal year 2025 figures above. These metrics are mathematical calculations and do not represent a rating or assessment of the company.

Financial History
Fiscal yearRevenueNet incomeAssetsLiabilitiesEquity
2025 — -$7.96M $24.52M $21.76M $2.76M
2024 — -$30.02M $30.24M $37.01M -$6.77M
2023 — -$24.99M $28.51M $15.05M $13.46M
2022 — -$14.90M $46.81M $9.38M $37.43M
2021 — -$12.86M $53.51M $2.32M $51.19M
Company Details
SIC code
2834
State of incorporation
DE
Active filer
Yes
Most recent SEC filing
Form 8-K
2026-09-10
Financials filed via
Form 10-K
filed 2026-03-31

"Most recent SEC filing" may differ from the filing used for the financial figures above.

Location
Miramar, FL 33025
2929 N COMMERCE PKWY
Data & Methodology

SEC EDGAR submissions API (identity, collected Sep 19, 2026, 15:11 UTC) and SEC XBRL Company Facts API (financials, collected Sep 26, 2026, 15:26 UTC) · figures as originally filed, not restated · a dash always means a value wasn't reported, never a real zero.

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