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HCW Biologics Announces Pricing of $1.5 Million Follow-On Offering Priced At-The-Market Under NASDAQ Rules

HCWB
  • HCW Biologics Inc. (NASDAQ: HCWB) priced a follow-on offering of 2,477,292 units at $0.6055 per unit under Nasdaq at-the-market rules.
  • Each unit consists of one share of common stock (or pre-funded warrant) and one warrant exercisable at $0.6055 per share upon shareholder approval, with expiration five years after approval.
  • The closing of the offering is expected on or about February 19, 2026, subject to customary conditions.
  • Maxim Group LLC served as the sole placement agent for the transaction.
  • Gross proceeds from the offering are expected to be approximately $1.5 million before fees & expenses.
  • Net proceeds will fund preclinical & clinical development, including HCW9302 trials, plus general corporate purposes.
  • The Company agreed to reduce the exercise price of 3,020,410 existing warrants from $2.41 to $0.6055 per share, subject to shareholder approval.
  • The offering is conducted pursuant to an SEC-effective Form S-1 registration statement declared effective on February 17, 2026.
  • HCW9302 is the lead candidate for autoimmune diseases, having dosed the first patient in a Phase 1 trial (NCT07049328).
  • IND-enabling processes are underway for three additional TRBC-based molecules targeting cancer & age-related diseases.
  • The Company has constructed over 50 molecules using its TRBC platform across Class I, II, & III immunotherapeutic categories.