| Income Statement | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenues | 6,543,001 | 27,011 | 15,606 | 6,550 |
| Cost of revenues | 11,071 | 21,609 | 12,485 | 5,240 |
| Net revenues | 6,531,930 | 5,402 | 3,121 | 1,310 |
| Legal expenses (recoveries), net | NaN | 1,245,136* | 6,006 | 142,542 |
| Research and development | 1,257,948 | 1,333,102 | 1,404,247 | 1,226,824 |
| Impairment of long-lived asset | NaN | 375,000* | NaN | NaN |
| Nonoperating loss | NaN | 0* | 0 | 0 |
| General and administrative | 1,833,277 | 1,492,669 | 1,884,994 | 2,096,021 |
| Legal expenses, net | 6,850 | NaN | NaN | NaN |
| Indirect tax expense | 198,146 | NaN | NaN | NaN |
| Total operating expenses | 3,296,221 | 4,445,907 | 3,295,247 | 3,465,387 |
| Operating income (loss) | 3,235,709 | -4,440,505 | -3,292,126 | -3,464,077 |
| Interest expense | 109,274 | 233,445 | 127,070 | 228,714 |
| Change in fair value of investment | NaN | -68,355.5* | NaN | NaN |
| Change in fair value of investment and contingent liability, net | NaN | NaN | -966,284 | NaN |
| Change in fair value of contingent liability | NaN | -263,956.5* | NaN | NaN |
| Gain on sale of put shares | NaN | 282,464* | -182,146 | NaN |
| Unrealized gain on investment | NaN | NaN | NaN | 1,748,688 |
| Gain on extinguishment of liability | NaN | 4,901,153* | NaN | NaN |
| Change in fair value of warrant liability | 667,343 | NaN | NaN | NaN |
| Other income, net | 8,888 | 13,964 | 13,290 | 16,373 |
| Net income (loss) before income taxes | 3,802,666 | NaN | NaN | NaN |
| Income tax expense | 330,186 | NaN | NaN | NaN |
| Net income (gain) | 3,472,480 | 719,232 | -4,554,336 | -1,927,730 |
| Equity dividend to investor | 1,488,472 | 4,185,194 | 0 | 10,153,799 |
| Net income (gain) attributable to common stockholders | 1,984,008 | -3,465,962 | -4,554,336 | -12,081,529 |
| Basic EPS | 0.37 | -1.652 | -2.02 | -6.79 |
| Diluted EPS | 0.37 | -1.652 | -2.02 | -6.79 |
| Basic Average Shares | 5,425,871 | 2,097,701* | 2,260,068 | 1,780,113 |
| Diluted Average Shares | 5,425,871 | 2,097,701* | 2,260,068 | 1,780,113 |
HCW Biologics Inc. (HCWB)
HCW Biologics Inc. (HCWB)