HCW Biologics (HCWB)
Develops fusion immunotherapies and cell-therapy manufacturing reagents.
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Develops multi-domain fusion immunotherapeutics for chronic-inflammation-related conditions and supplies fusion-protein reagents for cell-therapy manufacturing. Generates revenue through licensing and development supply agreements, with no approved medicines or commercial sales of proprietary therapeutic candidates.
Builds multi-domain fusion immunotherapeutics around chronic-inflammation biology through its TOBI and TRBC protein-engineering platforms. The portfolio includes HCW9302 for alopecia areata, preclinical T-cell engager and immune-checkpoint candidates, and fusion-protein reagents intended for partner-led CAR-T and NK-cell manufacturing.
Centers operations in Miramar, Florida, with the alopecia areata study conducted at U.S. sites and a China development relationship with Beijing-based Trimmune. Revenue comes from licenses and clinical-development supply agreements rather than sales of approved medicines.
Combines internal immunology and protein engineering with outsourced cGMP manufacturing and out-licensing selected programs. HCW9302 is the only company-sponsored clinical-stage asset; the other named therapeutic programs are preclinical or IND-enabling.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $741.3K · Total debt $6.6M · Total assets $26.8M · Shareholders' equity $7.4M
- Revenue
- $135.6K
- Operating income
- −$3.2M
- Net income
- −$5.2M
No dividends on record.
| Institutions14 holders · as of Mar 31, 2026 | 21.57% | 75.0K shares | |
| Insiders7 holders · as of Jul 31, 2026 | 79.00% | 274.6K shares | |
| Adds to | 100.57% |
347.6K company shares as of Aug 21, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Two share counts disagree (1.84M in the company's Sep 3, 2026 report, 347.6K elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 100.57%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Hing C. WongInsiderdirector, 10 percent owner, officer: Chief Executive Officer | 36.20% | 125,845 | Form 4filed Jul 31, 2026 ↗ |
Hing C. Wong, Ph.D.Insider | 24.06% | 83,652 | 13Dfiled Jun 13, 2025 ↗ |
Scott T. GarrettInsiderdirector | 13.20% | 45,895 | Form 4filed Jul 31, 2026 ↗ |
HRT Financial LPInstitution | 12.77% | 266,393 | 13Fas of Mar 31, 2026 |
Rebecca ByamInsiderofficer: Chief Financial Officer | 2.74% | 9,541 | Form 4filed May 27, 2026 ↗ |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 29, 2026 | Scott T. Garrett | director | +7,736 | $2.59 |
| Jul 29, 2026 | Lee Flowers | officer: SVP of Business Development | +7,736 | $2.59 |
| Jul 29, 2026 | Hing C. Wong | director, 10 percent owner, officer: Chief Executive Officer | +23,210 | $2.59 |
| May 22, 2026 | Rebecca Byam | officer: Chief Financial Officer | +28,470 | $1.34 |
| May 22, 2026 | Scott T. Garrett | director | +355,872 | $1.34 |
- Nektar Therapeutics
Treg-selective IL-2 rival in alopecia areata.
- Pfizer
Approved alopecia therapy sets the nearest commercial bar.
- Bristol-Myers Squibb
Scaled checkpoint and multispecific oncology rival.
- Amgen
BiTE platform leader in solid-tumor T-cell engagement.
- Merck
Keytruda is the dominant checkpoint benchmark in oncology.
- Coya Therapeutics
Treg and low-dose IL-2 platform peer in chronic inflammation.
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| HCW Biologics | $3.35 | +0.90% | $1.2M | — | — | 0.2 | +10,248.7% |
| Nektar Therapeutics | $73.06 | +0.40% | $2.09B | — | — | 38.2 | −9.3% |
| Pfizer | $28.98 | −0.17% | $165.40B | 38.3 | 10.4 | 2.6 | +2.6% |
| Bristol-Myers Squibb | $67.65 | −0.01% | $138.21B | 14.9 | 10.6 | 2.8 | +5.7% |
| Amgen | $443.00 | +0.04% | $239.00B | 27.5 | 18.9 | 6.3 | +9.7% |
| Merck | $151.72 | +0.05% | $374.52B | 121.3 | 17.6 | 5.6 | +5.1% |
| Coya Therapeutics | $4.50 | +1.69% | $103.7M | — | — | 12.9 | +35.6% |
| Median | 32.9 | 14.1 | 6.0 | +5.4% |