For the year ending 2025-12-31, HCWB had -$2,722,108 decrease in cash & cash equivalents over the period. -$13,391,617 in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Revenues | 54,232 |
| Cost of revenues | 43,386 |
| Net revenues | 10,846 |
| Research and development expenses | 5,442,884 |
| General and administrative | 7,296,059 |
| Other segment items | -4,768,388 |
| Total operating expenses | 7,970,555 |
| Net loss | -7,959,709 |
| Depreciation and accretion | 1,041,771 |
| Stock-based compensation | 768,623 |
| Commitment fee | 150,000 |
| Change in fair value of investment | -273,422 |
| Change in fair value of contingent liability | 1,055,826 |
| Gain on extinguishment of liability | 5,461,046 |
| Loss on sale of put shares | -263,974 |
| Loss on conversion of debt with related parties | 131,135 |
| Impairment of long-lived asset | 1,500,000 |
| Changes in the carrying amount of right-of-use asset | 0 |
| Accounts receivable | -550,026 |
| Prepaid expenses and other assets | -141,989 |
| Accounts payable and other liabilities | -3,473,706 |
| Operating lease liability | 0 |
| Net cash used in operating activities | -13,391,617 |
| Purchases of property and equipment | 0 |
| Net cash used in investing activities | 0 |
| Proceeds from issuance of common stock, net | 5,493,086 |
| Proceeds from issuance of common stock under sepa, net | 2,540,931 |
| Proceeds from issuance of pre-funded warrants, net | 3,822,894 |
| Proceeds from common stock warrants | 0 |
| Proceeds from issuance of debt | 150,000 |
| Issuance costs for common stock, pre-funded warrants, and common stock warrants | 1,209,779 |
| Debt repayment | -127,623 |
| Net cash provided by financing activities | 10,669,509 |
| Net increase (decrease) in cash and cash equivalents | -2,722,108 |
| Cash and cash equivalents at the beginning of the period | 4,674,572 |
| Cash and cash equivalents at the end of the period | 1,952,464 |
HCW Biologics Inc. (HCWB)
HCW Biologics Inc. (HCWB)