HCW Biologics Inc.

HCWB

HCW Biologics Inc.

HCWB

Insider Sentiment (TTM):

Last Purchase:2026-05-22Last Sale:-Shares Purchased (TTM):306,050Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:135,956Shares Outstanding:5,425,871Institutional Ownership Pct.:2.51%

Earnings Market Reaction:

Filing Date:2026-08-14Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	1	1	2	1	2	1	5	1	1	4	4	11
Short Term Investments	-	-	-	-	-	-	-	-	-	-	0	0
Notes Receivable Net	-	-	-	-	-	-	-	-	-	0	-	-
Receivables Net Current	0	0	0	0	0	0	1	1	1	1	2	1
Prepaid Expense Current	0	0	0	0	0	0	0	0	0	1	1	2
Other Assets Current	0	0	0	0	0	0	0	0	0	0	0	0
Assets Current	1	2	2	2	3	2	6	2	2	6	6	14
Long Term Investments	5	5	1	1	3	2	2	2	2	2	2	2
Property Plant And Equipment Net	21	21	21	23	23	23	23	23	23	23	20	15
Other Assets Noncurrent	0	0	0	0	0	0	0	0	0	0	0	0
Assets	27	27	25	25	29	26	30	27	27	30	29	36
Liabilities And Stockhold…
Liabilities
Liabilities Current
Accounts Payable Current	11	12	13	19	19	20	22	23	17	10	6	3
Accounts Payable And Other Accrued Liabilities Cur…	-	1	1	1	1	1	1	1	6	3	3	2
Accrued Liabilities And Other Liabilities	1	1	-	-	-	-	-	-	-	-	-	-
Short Term Borrowings	7	7	7	7	6	6	6	6	-	-	0	-
Deferred Revenue Current	0	0	-	-	-	-	-	-	-	-	-	-
Liabilities Current	19	20	21	27	27	27	30	30	23	13	9	5
Long Term Debt	-	-	0	0	0	8	7	6	10	8	6	6
Other Liabilities	-	-	-	-	-	-	-	-	-	-	0	0
Business Combination Contingent Consideration Liab…	-	-	1	1	2	-	0	-	-	-	-	-
Derivative Liabilities Noncurrent	-	1	-	-	-	-	-	-	-	-	-	-
Other Liabilities Noncurrent	-	1	-	-	-	-	-	-	-	-	-	-
Liabilities	19	22	22	28	29	35	37	37	33	22	15	12
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	-	-	111	107	105	94	94	87	87	87	84	84
Additional Paid In Capital Common Stock	118	111	-	-	-	-	-	-	-	-	-	-
Retained Earnings Accumulated Deficit	-110	-105	-109	-109	-105	-103	-101	-97	-93	-78	-71	-60
Stockholders Equity	7	6	3	-2	-0	-9	-7	-10	-6	9	13	24
Liabilities And Stockholders Equity	27	27	25	25	29	26	30	27	27	30	29	36
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	250	250	250	250	250	250	250	250	250	250	250	250
Common Stock Shares Issued	2	1	1	0	0	0	0	0	0	0	0	0

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	383.68%	112.66%	58.26%	-	-	-	-	-	-	-	-	-
2025	-26.34%	-50.49%	-49.70%	39.05%	1.00%	-24.88%	-34.00%	-62.67%	-63.00%	4.44%	702.78%	202.78%
2024	-10.34%	-46.47%	-47.84%	21.38%	-22.24%	-25.86%	29.77%	42.07%	-10.03%	-41.25%	-25.42%	-54.58%
2023	-	-	-	-	-	-	-5.17%	3.45%	0.00%	-15.15%	-32.73%	-56.18%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	0.06	0.09	0.11	0.06	0.11	0.07	0.19	0.07	0.10	0.46	0.73	2.56
Quick Ratio	0.05	0.07	0.10	0.05	0.10	0.06	0.18	0.06	0.09	0.40	0.61	2.23
Working Capital	-17.51M	-18.24M	-18.78M	-25.27M	-23.95M	-25.25M	-23.93M	-27.97M	-20.83M	-7.20M	-2.34M	8.43M
Leverage & Debt
Debt to Equity	2.60	3.74	7.87	-13.08	-557.25	-4.07	-5.47	-3.66	-5.26	2.48	1.12	0.49
Interest Coverage TTM	-13.44	-11.40	-15.58	-13.53	-12.52	-26.29	-45.02	-95.05	-149.94	-144.71	-89.95	-54.40
Debt Ratio	0.72	0.79	0.89	1.08	1.00	1.33	1.22	1.38	1.23	0.71	0.53	0.33
Efficiency & Turnover
Asset Turnover TTM	0.24	0.25	0.00	0.02	0.03	0.05	0.09	0.11	0.12	0.11	0.08	0.07
Days Sales Outstanding TTM	1.09	4.49	2,067.48	295.14	148.26	125.20	150.59	71.10	63.37	53.76	125.45	68.02
Receivables Turnover TTM	335.54	81.22	0.18	1.24	2.46	2.92	2.42	5.13	5.76	6.79	2.91	5.37
Per Share Metrics
Diluted EPS TTM	-22.65	-18.39	-63.77	-31.99	-38.43	-132.95	-185.71	-236.83	-243.40	-176.57	-166.92	-131.79
Free Cash Flow Per Share TTM	-10.60	-12.66	-38.30	-25.14	-30.99	-76.84	-89.85	-121.73	-142.39	-183.79	-191.78	-166.73
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	95.91%	99.24%	20.00%	20.00%	20.00%	23.92%	37.38%	32.41%	31.17%	29.61%	19.72%	20.15%
Operating Profit Margin TTM	-114.02%	-120.76%	-24,270.74%	-2,811.29%	-1,471.68%	-1,655.80%	-1,147.60%	-1,060.71%	-980.86%	-709.27%	-904.96%	-721.02%
Net Profit Margin TTM	-447.47%	-252.26%	-41,117.24%	-2,855.81%	-1,368.83%	-1,712.81%	-1,169.70%	-1,067.83%	-978.09%	-697.59%	-879.52%	-690.11%
Growth Metrics
Net Revenue Growth (1Y)	707.02%	356.16%	-97.89%	-87.93%	-78.77%	-63.20%	-9.68%	22.27%	2.82%	7.68%	-57.72%	-46.86%
Net Income Growth (1Y)	163.82%	-32.82%	-25.73%	-67.72%	-70.29%	-9.63%	20.12%	89.19%	105.09%	52.90%	67.74%	27.31%
EPS Growth (1Y)	-41.06%	-86.17%	-65.66%	-86.49%	-84.21%	-24.71%	11.26%	79.70%	94.71%	47.40%	67.24%	26.99%
Valuation Metrics
P/E TTM	-0.22	-0.12	-0.09	-0.69	-0.62	-0.51	-0.58	-0.55	-0.64	-2.38	-1.76	-3.46
P/B TTM	0.89	0.34	0.74	-3.97	-135.81	-1.47	-2.56	-2.05	-3.89	7.45	3.27	2.86
P/S TTM	0.99	0.30	37.57	19.82	8.47	8.72	6.74	5.83	6.24	16.59	15.49	23.88
Market Cap	6.63M	1.95M	2.04M	8.36M	7.06M	12.60M	17.31M	20.39M	24.48M	65.15M	44.02M	68.27M
Enterprise Value	12.45M	7.30M	6.89M	14.07M	11.41M	25.43M	26.32M	32.20M	33.22M	69.34M	46.73M	63.39M
Calculated Values
Free Cash Flow TTM	-14.08M	-11.45M	-13.39M	-9.47M	-9.19M	-14.31M	-14.53M	-19.19M	-22.44M	-28.51M	-28.72M	-24.96M
Net Debt	5.82M	5.35M	4.86M	5.71M	4.35M	12.83M	9.02M	11.81M	8.74M	4.19M	2.71M	-4.89M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-22Purchase

Owner: Wong, Hing C

Title: Chief Executive Officer

Shares: 113,879

Price/Share: $1.41

Value: $160,569.39

Shares Owned: 615,790

Relationship: Director,Officer,TenPercentOwner

Ownership: Direct

2026-05-22Purchase

Owner: Byam, Rebecca

Title: Chief Financial Officer

Shares: 14,235

Price/Share: $1.41

Value: $20,071.35

Shares Owned: 57,245

Relationship: Officer

Ownership: Direct

2026-05-22Purchase

Owner: Garrett, Scott T

Title: -

Shares: 177,936

Price/Share: $1.41

Value: $250,889.76

Shares Owned: 203,441

Relationship: Director

Ownership: Indirect

2025-05-16Purchase

Owner: Wong, Hing C

Title: Chief Executive Officer

Shares: 8,054

Price/Share: $7.45

Value: $60,002.30

Shares Owned: 501,911

Relationship: Director,Officer,TenPercentOwner

Ownership: Direct

2025-05-16Purchase

Owner: Winer, Gary M

Title: -

Shares: 1,342

Price/Share: $7.45

Value: $9,997.90

Shares Owned: 4,075

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-22	Wong, Hing C	Director,Officer,TenPercentOwner	Chief Executive Officer	Direct	Purchase	113,879	1.41	$160,569.39	615,790	4
2026-05-22	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	14,235	1.41	$20,071.35	57,245	4
2026-05-22	Garrett, Scott T	Director	-	Indirect	Purchase	177,936	1.41	$250,889.76	203,441	4
2025-05-16	Wong, Hing C	Director,Officer,TenPercentOwner	Chief Executive Officer	Direct	Purchase	8,054	7.45	$60,002.30	501,911	4
2025-05-16	Winer, Gary M	Director	-	Direct	Purchase	1,342	7.45	$9,997.90	4,075	4
2025-05-16	Garrett, Scott T	Director	-	Direct	Purchase	13,423	7.45	$100,001.35	25,505	4
2025-05-08	Wong, Hing C	Director,Officer,TenPercentOwner	Chief Executive Officer	Direct	Purchase	92,500	26.00	$2,405,000.00	493,857	4
2025-05-08	Winer, Gary M	Director	-	Direct	Purchase	2,308	26.00	$60,008.00	2,733	4
2025-05-08	Greene, Rick S.	Director	-	Direct	Purchase	962	26.00	$25,012.00	2,066	4
2025-05-08	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	8,462	26.00	$220,012.00	43,010	4
2025-05-08	Garrett, Scott T	Director	-	Direct	Purchase	5,385	26.00	$140,010.00	12,082	4
2025-05-08	Flowers, Lee	Officer	SVP of Business Development	Direct	Purchase	962	26.00	$25,012.00	5,720	4
2023-09-14	Winer, Gary M	Director	-	Direct	Purchase	1,041	2.06	$2,144.46	17,000	4
2023-09-14	Wong, Hing C	Director,Officer	Chief Executive Officer	Direct	Purchase	1,800	2.08	$3,744.00	15,314,868	4
2023-09-13	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	5,000	2.10	$10,500.00	573,946	4
2023-09-12	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	5,000	2.09	$10,450.00	568,946	4
2023-09-12	Winer, Gary M	Director	-	Direct	Purchase	500	2.05	$1,025.00	15,413	4
2023-09-08	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	5,000	2.02	$10,100.00	558,946	4
2023-09-07	Winer, Gary M	Director	-	Direct	Purchase	63	1.95	$122.85	14,813	4
2023-09-06	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	5,000	1.95	$9,750.00	548,946	4
2023-06-09	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	20,000	2.06	$41,200.00	543,946	4
2023-06-08	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	4,696	2.21	$10,378.16	523,946	4
2023-06-08	Flowers, Lee	Officer	SVP of Business Development	Direct	Purchase	10,000	2.16	$21,600.00	111,308	4
2023-06-06	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	19,062	1.82	$34,692.84	499,250	4
2023-06-02	Wong, Hing C	Director,Officer	Chief Executive Officer	Direct	Purchase	800	1.54	$1,232.00	15,313,068	4
2023-05-31	Winer, Gary M	Director	-	Direct	Purchase	500	1.50	$750.00	14,350	4
2023-05-31	Wong, Hing C	Director,Officer	Chief Executive Officer	Direct	Purchase	2,000	1.55	$3,100.00	15,311,468	4
2023-05-26	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	20,000	1.66	$33,200.00	460,188	4
2023-05-24	Byam, Rebecca	Officer	Chief Financial Officer	Direct	Purchase	20,000	1.61	$32,200.00	420,188	4
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Institutional Ownership

No data available for chart

2026-03-31

2.51%

Inst. Shares: 135,956

Shares Outstanding: 5,425,871

2025-12-31

20.83%

Inst. Shares: 436,934

Shares Outstanding: 2,097,701

2025-09-30

5.46%

Inst. Shares: 123,473

Shares Outstanding: 2,260,068

2025-06-30

1.21%

Inst. Shares: 21,568

Shares Outstanding: 1,780,113

2025-03-31

103.46%

Inst. Shares: 1,155,569

Shares Outstanding: 1,116,891

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	135,956	5,425,871	2.51%
2025-12-31	436,934	2,097,701	20.83%
2025-09-30	123,473	2,260,068	5.46%
2025-06-30	21,568	1,780,113	1.21%
2025-03-31	1,155,569	1,116,891	103.46%
2024-12-31	3,113,124	969,825	-
2024-09-30	1,112,632	945,585	117.67%
2024-06-30	1,145,744	945,585	121.17%
2024-03-31	1,027,067	930,590	110.37%
2023-12-31	1,064,955	898,236	118.56%
2023-09-30	1,014,821	898,173	112.99%
2023-06-30	1,000,256	897,767	111.42%
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HCW Biologics Inc. (HCWB) — SEC Financial Statements & Analysis

HCW Biologics Inc. (HCWB) is a pharmaceutical preparations company, incorporated in DE. HCW Biologics Inc. trades on Nasdaq as: HCWB. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), HCW Biologics Inc. reported a 707.02% year-over-year revenue growth, a Gross Profit Margin of 95.91% (TTM), a Debt-to-Equity ratio of 2.60x, a Price-to-Sales (P/S) ratio of 0.99x (TTM), a Price-to-Book (P/B) ratio of 0.89x (TTM), at a market cap of $6.63M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 707.02%
Gross Profit Margin TTM: 95.91%
Debt To Equity: 2.60x
P/S TTM: 0.99x
P/B TTM: 0.89x
Market Cap: $6.63M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is HCW Biologics Inc. in?

HCW Biologics Inc. (HCWB) operates in the Pharmaceutical Preparations industry.

What is HCWB's market cap?

HCW Biologics Inc. (HCWB) has a market capitalization of $6.63M as of 2026-06-30.

What exchange does HCWB trade on?

HCW Biologics Inc. (HCWB) trades on the Nasdaq.

Where is HCW Biologics Inc. incorporated?

HCW Biologics Inc. is incorporated in DE.