HCWBNasdaqPharmaceutical PreparationsFiscal year ends December 31

HCW Biologics Inc.

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026

$1.23−0.01 (-0.81%)

Close on Oct 19, 2026

Market cap: $1.63M
P/E (TTM): –
Dividend yield: –

HCW Biologics Inc. income statement

Annual Quarterly TTM

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Revenue	0.05	2.57	2.84	6.72	0	4.10
Cost of Revenue	0.04	1.61	2.28	4.14	0	–
Gross Profit	0.01	0.96	0.56	2.59	0	–
Research & Development	5.44	6.39	7.68	9.34	8.17	7.26
General & Administrative	7.70	6.82	6.78	8.33	5.19	2.67
Operating Expenses	13	30	26	18	13	9.92
Operating Income	-13	-29	-26	-15	-13	-5.82
Interest Expense	0.85	0.65	0.28	0.13	0	–
Other Non-Operating Income	0	-1.30	–	–	–	–
Asset Impairment Charges	0	0	–	–	–	–
Gain (Loss) on Investments	-0.27	0	–	–	–	–
Pretax Income	-7.96	-30	-25	-15	-13	-5.80
Income Tax Expense	0	0	0	0	0	0
Net Income	-7.96	-30	-25	-15	-13	-5.80
Preferred Dividends	–	–	–	–	0.96	1.27
Net Income to Common	-22	-30	–	–	-13	-7.07
EPS (Basic)(per share)	-63.78	-185.76	-168.00	-100.80	-165.60	-357.60
EPS (Diluted)(per share)	-63.78	-185.76	-168.00	-100.80	-165.60	-357.60
Shares Outstanding (Basic, Weighted)(shares)	0.35	0.16	0.15	0.15	0.08	0.02
Shares Outstanding (Diluted, Weighted)(shares)	0.35	0.16	0.15	0.15	0.08	0.02
EBITDA	-12	-28	-25	-14	-13	-5.25

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Jun 30, 2026

Profitability, TTM

Gross margin: 96.7%
Operating margin: -115.3%
Net margin: -83.8%
Return on equity, FY2025: 397.4%

Financial strength

Current ratio: 0.06
Debt to equity: –
Debt to assets: –
Cash to current liabilities: 4.0%

Valuation

P/E ratio: –
Price to sales: 0.25
Price to book: 0.22
Dividend yield: –