NASDAQ:HCWB

HCW Biologics (HCWB) reported mixed Q2 2025 results. A $5M equity raise helped shore up finances and debt was extinguished. However, revenue plummeted to $6,550, and the Wugen License Agreement was suspended. R&D spending decreased while G&A expenses increased. Despite reducing its net loss, the company expresses doubt about its ability to continue without additional funding. They are seeking new licensing deals and clinical trials are planned. HCWB regained Nasdaq compliance but remains under Panel Monitor.