| Annual · values | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -13.39 M USD | -14.23 M USD | -22.51 M USD | -10.39 M USD | -10.98 M USD | -10.43 M USD |
| Depreciation & Amortization | 1.04 M USD | 1.18 M USD | 1.14 M USD | 717854 USD | 543598 USD | 572868 USD |
| Stock-Based Compensation | 768623 USD | 1.01 M USD | 1.00 M USD | 1.12 M USD | 360975 USD | 21875 USD |
| Capital Expenditures | 0 USD | 261617 USD | 6.20 M USD | 10.28 M USD | 47263 USD | 186682 USD |
| Cash Flow from Investing | 0 USD | -261617 USD | 3.80 M USD | 14.71 M USD | -35.02 M USD | -186682 USD |
| Cash Flow from Financing | 10.67 M USD | 15.57 M USD | -14534 USD | 6.27 M USD | 49.27 M USD | 11.72 M USD |
| Dividends Paid | — | — | — | — | — | — |
| Stock Buybacks | — | — | — | — | — | — |
| Free Cash Flow | -13.39 M USD | -14.49 M USD | -28.72 M USD | -20.66 M USD | -11.02 M USD | -10.62 M USD |
HCW Biologics Inc. is a clinical-stage biopharmaceutical company dedicated to discovering and developing novel immunotherapies that target inflammaging—the chronic, low-grade inflammation linked to age-related diseases. The company focuses on conditions including cancer, cardiovascular disease, diabetes, neurodegenerative diseases, and autoimmune disorders. HCW Biologics leverages two proprietary discovery platforms: TOBI™ (Tissue factOr-Based fusIon) and TRBC (T-cell Receptor β Chain constant region), which enable the design of multi-functional fusion molecules that simultaneously activate immune responses and target diseased cells. The company maintains a pipeline of over 50 molecules in development, with lead candidates currently advancing through clinical trials for oncology and autoimmune indications. HCW Biologics collaborates with key partners including Wugen Inc. for cell therapy manufacturing and maintains a joint venture with WY Biotech. Founded in 2018 and headquartered in Miramar, Florida, the company operates as a publicly traded entity pursuing immunotherapy innovation in the biopharmaceutical sector.