| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 0.02 | 100.0% | 95.3% |
| Total Income | 0.02 | 100.0% | 95.3% |
| Expenditure | 3.31 | 4.6% | 19.7% |
| PBT | — | ||
| Net Profit | -4.55 | 135.8% | 16.7% |
| OPM | — | ||
| NPM | — | ||
| EPS | -2.02 | 70.3% | 1920.0% |
HCW Biologics Reports Q3 2025 Results
04 May 2026 · 4 May, 7:11 am
Summary
HCW Biologics Inc. reported its financial results for the third quarter ended September 30, 2025. The company anticipates dosing the first patient in a Phase 1 clinical study for HCW9302 in Q4 2025. Revenues for the quarter were $15,606, a decrease compared to $426,423 in the same period of 2024. The net loss for the quarter was $4.6 million. The company believes that substantial doubt exists regarding its ability to continue as a going concern for at least 12 months.
Key Highlights
- 1
HCW Biologics anticipates dosing the first patient in a Phase 1 clinical study to evaluate HCW9302 in patients with an autoimmune disease in the fourth quarter of 2025.
- 2
The company issued 475,000 shares of Common Stock for gross proceeds of $2.2 million during the three months ended September 30, 2025.
- 3
Revenues for the three months ended September 30, 2025 were $15,606, compared to $426,423 for the same period in 2024.
- 4
Research and development expenses for the three months ended September 30, 2025 were $1.4 million, an increase of 18% compared to $1.2 million in 2024.
- 5
General and administrative expenses for the three months ended September 30, 2025 were $1.9 million, an increase of 15% compared to $1.6 million in 2024.
- 6
Net loss for the three months ended September 30, 2025 was $4.6 million, compared to $3.9 million for the same period in 2024.
Management Comments
Hing C. Wong
“The goal of our Phase 1 clinical study for HCW9302 is to establish the safe dose that effectively increases Treg cell activity in patients with an autoimmune disease. Once we achieve this objective, we hope to rapidly expand clinical development of HCW9302 in Phase 2 studies in patients with alopecia areata as well as other autoimmune diseases and inflammatory conditions.”
Informational and educational content only. Not investment advice.