For the quarter ending 2025-09-30, HCWB had -$1,342,053 decrease in cash & cash equivalents over the period. -$3,239,941 in free cash flow.
| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Revenues | 27,222 | - |
| Cost of revenues | 21,777 | - |
| Net revenues | 5,445 | - |
| Research and development expenses | 4,109,782 | - |
| General and administrative | 5,796,487 | - |
| Other segment items | -1,221,883 | - |
| Total operating expenses | 8,684,386 | - |
| Net loss | -4,554,335 | -4,124,606 |
| Unrealized gain on investment | - | 1,748,688 |
| Depreciation and accretion | 173,905 | 710,926 |
| Stock-based compensation | 205,492 | 553,949 |
| Commitment fee | 0 | 150,000 |
| Change in fair value of investment and contingent liability, net | -782,404 | - |
| Loss on sale of put shares | -182,146 | - |
| Loss on conversion of debt with related parties | 1 | 131,134 |
| Changes in the carrying amount of right-of-use asset | 0 | 0 |
| Accounts receivable | 9,056 | -560,590 |
| Prepaid expenses and other assets | -157,747 | -5,156 |
| Accounts payable and other liabilities | -362,123 | -2,772,352 |
| Operating lease liability | 0 | 0 |
| Net cash used in operating activities | -3,239,941 | -6,796,159 |
| Purchases of property and equipment | 0 | 0 |
| Net cash (used in) provided by investing activities | 0 | 0 |
| Proceeds from issuance of common stock | 0 | 1,475,939 |
| Proceeds from issuance of common stock under sepa, net | 1,992,779 | - |
| Proceeds from issuance of pre-funded warrants | 0 | 3,822,894 |
| Proceeds from issuance of debt | 0 | 150,000 |
| Issuance costs for common stock and pre-funded warrants | 63,500 | 824,899 |
| Debt repayment | -31,391 | -63,385 |
| Net cash provided by financing activities | 1,897,888 | 4,560,549 |
| Net decrease in cash and cash equivalents | -1,342,053 | -2,235,610 |
| Cash and cash equivalents at beginning of period | 4,674,572 | - |
| Cash and cash equivalents at end of period | 1,096,909 | - |
HCW Biologics Inc. (HCWB)
HCW Biologics Inc. (HCWB)