FY2025 · ended Dec 31, 2025 · Revenue $54,232, -97.9% YoY · Filed Mar 31, 2026
HCW Biologics Inc. (HCWB) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $54,232 and a net loss of $8.0 million. Free cash flow was -$13.4 million. As of Jun 30, 2026 it held $5.6 million in cash and investments and $6.6 million in total debt.
Revenue (TTM)
$6.74M
+709.6% vs year-ago TTM
Net income (TTM)
$-5.58M
+51.0% vs year-ago TTM
Operating cash flow (TTM)
$-12.14M
+3.4% vs year-ago TTM
Free cash flow
$-13.39M
+7.6% vs prior year
EPS (TTM)
$-8.46
+53.6% vs year-ago TTM
Dividend per share
None
Shares outstanding
6.73M
-85.0% vs prior year
Net cash
$-966,009
as of Jun 30, 2026
Operating margin
-114.0%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- HCWB (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Miramar, FL
- SEC filer status
- , Emerging growth company
- SEC CIK
- 1828673
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $54,232 | $2.6M | $2.8M | $6.7M | $4.1M |
| Operating income | -$13.2M | -$29.5M | -$25.7M | -$15.1M | — |
| Net income | -$8.0M | -$30.0M | -$25.0M | -$14.9M | — |
| Diluted EPS | -$10.63 | -$30.96 | -$0.70 | -$0.42 | — |
| Operating cash flow | -$13.4M | -$14.2M | -$22.5M | -$10.4M | — |
| Free cash flow | -$13.4M | -$14.5M | -$28.7M | -$20.7M | — |
| Total assets | $24.5M | $30.2M | $28.5M | $46.8M | — |
| Total liabilities | $21.8M | $37.0M | $15.1M | $9.4M | — |
| Stockholders' equity | $2.8M | -$6.8M | $13.5M | $37.4M | — |
| Cash and investments | $3.3M | $6.3M | $5.2M | $33.7M | — |
| Total debt | $6.8M | $13.7M | $6.3M | $38.5M | — |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement, Unregistered share sale, Regulation FD disclosure, Other events
|
Sep 24, 2026 | Sep 23, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Sep 10, 2026 | Sep 9, 2026 |
| 8-K |
Current report
Material agreement, Regulation FD disclosure
|
Sep 8, 2026 | Sep 4, 2026 |
| 10-Q | Quarterly report | Aug 14, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 14, 2026 | Aug 14, 2026 |
| 10-Q/A | Amended quarterly report | Aug 14, 2026 | Mar 31, 2026 |
All 340 HCW Biologics Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.