HCWB
HCW Biologics Inc
NASDAQ: HCWB · HEALTHCARE · BIOTECHNOLOGY
$0.47
+15.63% today
Updated 2026-04-30
Market cap
$2.53M
P/E ratio
—
P/S ratio
54.51x
EPS (TTM)
$-10.63
Dividend yield
—
52W range
$0 – $11
Volume
10.9M
HCW Biologics Inc (HCWB) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $4.10M | $4.10M | $6.72M | $2.84M | $2.57M | $54232.00 |
| Revenue growth (YoY) | — | — | +0.0% | +64.0% | -57.7% | -9.7% | -97.9% |
| Cost of revenue | $421817.00 | — | $543598.00 | $4.14M | $2.28M | $1.61M | $43386.00 |
| Gross profit | $-421817.00 | $4.10M | $-543598.00 | $2.59M | $560360.00 | $959403.00 | $10846.00 |
| Gross margin | — | 100.0% | -13.3% | 38.5% | 19.7% | 37.4% | 20.0% |
| R&D | $5.14M | $7.26M | $7.82M | $9.34M | $7.68M | $6.39M | $5.44M |
| SG&A | $1.80M | $2.44M | $4.98M | $7.99M | $13.08M | $21.95M | $7.70M |
| Operating income | $-7.37M | $-5.82M | $-13.37M | $-15.08M | $-25.72M | $-29.48M | $-11.26M |
| Operating margin | — | -142.1% | -326.1% | -224.3% | -905.0% | -1148.5% | -20757.6% |
| EBITDA | $-6.87M | $-5.25M | $-12.32M | $-14.06M | $-23.58M | $-27.68M | $-5.67M |
| EBITDA margin | — | -128.1% | -300.5% | -209.1% | -829.6% | -1078.4% | -10450.8% |
| EBIT | $-7.29M | $-5.82M | $-12.86M | $-14.77M | $-24.71M | $-28.87M | $-6.71M |
| Interest expense | $0.00 | $0.00 | $505366.00 | $126660.00 | $283042.00 | $1.16M | $1.25M |
| Income tax | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-7.29M | $-5.78M | $-12.86M | $-14.90M | $-24.99M | $-30.02M | $-7.96M |
| Net income growth (YoY) | — | +20.7% | -122.5% | -15.8% | -67.7% | -20.1% | +73.5% |
| Profit margin | — | -141.0% | -313.7% | -221.7% | -879.5% | -1169.7% | -14677.1% |