For the quarter ending 2026-03-31, HCWB had -$723,585 decrease in cash & cash equivalents over the period.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenues | - | 27,010 | 27,222 | - |
| Cost of revenues | - | 21,609 | 21,777 | - |
| Net revenues | - | 5,401 | 5,445 | - |
| Research and development expenses | - | 1,333,102 | 4,109,782 | - |
| Commitment fee | - | 0 | 0 | 150,000 |
| General and administrative | - | 1,499,572 | 5,796,487 | - |
| Change in fair value of investment and contingent liability, net | - | - | -782,404 | - |
| Change in fair value of investment | - | -273,422 | - | - |
| Other segment items | - | -3,546,505 | -1,221,883 | - |
| Loss on sale of put shares | - | -81,828 | -182,146 | - |
| Change in fair value of contingent liability | - | 1,055,826 | - | - |
| Total operating expenses | - | -713,831 | 8,684,386 | - |
| Gain on extinguishment of liability | - | 5,329,911 | 1 | 131,134 |
| Net income (loss) | 3,472,480 | 719,232 | -4,554,335 | -4,124,606 |
| Unrealized gain on investment | - | - | - | 1,748,688 |
| Depreciation and accretion | - | 156,940 | 173,905 | 710,926 |
| Depreciation and amortization | 142,049 | - | - | - |
| Loss on conversion of debt with related parties | - | 131,135 | - | - |
| Stock-based compensation | 10,019 | 9,182 | 205,492 | 553,949 |
| Impairment of long-lived asset | - | 1,500,000 | - | - |
| Change in fair value of warrant liability | 667,343 | - | - | - |
| Operating lease liability | - | 0 | 0 | 0 |
| Changes in the carrying amount of right-of-use asset | - | 0 | 0 | 0 |
| Noncash revenue from licensing agreement | 3,500,000 | - | - | - |
| Accounts receivable | 42,669 | 1,508 | 9,056 | -560,590 |
| Prepaid expenses and other assets | 117,883 | 20,914 | -157,747 | -5,156 |
| Deferred revenue | 470,000 | - | - | - |
| Accounts payable and other liabilities | -1,341,879 | -339,231 | -362,123 | -2,772,352 |
| Net cash used in operating activities | -1,575,226 | -3,355,517 | -3,239,941 | -6,796,159 |
| Proceeds from common stock warrants | - | 0 | - | - |
| Purchases of property and equipment | - | 0 | 0 | 0 |
| Proceeds from issuance of debt | - | 0 | 0 | 150,000 |
| Net cash used in investing activities | - | 0 | 0 | 0 |
| Proceeds from issuance of common stock, net | - | 4,017,147 | 0 | 1,475,939 |
| Proceeds from issuance of common stock under sepa, net | - | 548,152 | 1,992,779 | - |
| Proceeds from the issuance and exercise of pre-funded warrants | 1,500,000 | 0 | 0 | 3,822,894 |
| Issuance costs for common stock, pre-funded warrants, and common stock warrants | - | 321,380 | 63,500 | 824,899 |
| Issuance costs of pre-funded warrants and common stock warrants | 389,056 | - | - | - |
| Debt repayment | -259,303 | -32,847 | -31,391 | -63,385 |
| Net cash provided by (used in) financing activities | 851,641 | 4,211,072 | 1,897,888 | 4,560,549 |
| Net decrease in cash and cash equivalents | -723,585 | 855,555 | -1,342,053 | -2,235,610 |
| Cash and cash equivalents at the beginning of the period | 1,952,464 | 1,096,909 | 4,674,572 | - |
| Cash and cash equivalents at the end of the period | 1,228,879 | 1,952,464 | 1,096,909 | - |
HCW Biologics Inc. (HCWB)
HCW Biologics Inc. (HCWB)