Revenue
2020
2021
2022
2023
2024
2025
HCW Biologics Inc. (HCWB)
Price$2.94Cached quote
Net income
2020
2021
2022
2023
2024
2025
Free cash flow
2020
2021
2022
2023
2024
2025
Total cash / debt
CashTotal debt
2020
2021
2022
2023
2024
2025
Financial statements
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $54,232 | $2.6M | $2.8M | $6.7M | $0 | $4.1M |
| Gross profit | $10,846 | $959,403 | $560,360 | $2.6M | $0 | — |
| Gross margin | 20.00% | 37.38% | 19.72% | 38.48% | — | — |
| Research & development | $5.4M | $6.4M | $7.7M | $9.3M | $8.2M | $7.3M |
| Operating expenses | $13.2M | $30.4M | $26.3M | $17.7M | $13.4M | $9.9M |
| Operating income | −$13.2M | −$29.5M | −$25.7M | −$15.1M | −$13.4M | −$5.8M |
| Operating margin | −24,270.74% | −1,147.60% | −904.96% | −224.32% | — | −142.07% |
| EBITDA | −$12.1M | −$28.3M | −$24.6M | −$14.4M | −$12.8M | −$5.3M |
| EBITDA margin | −22,349.79% | −1,101.46% | −865.02% | −213.64% | — | −128.10% |
| Net income | −$8.0M | −$30.0M | −$25.0M | −$14.9M | −$12.9M | −$5.8M |
| Net profit margin | −14,677.14% | −1,169.70% | −879.52% | −221.67% | — | −141.53% |
| Basic EPSper basic share | -$10.63 | -$30.96 | -$0.70 | -$0.42 | -$0.69 | -$1.49 |
| Diluted EPSper diluted share | -$10.63 | -$30.96 | -$0.70 | -$0.42 | -$0.69 | -$1.49 |
Owners
Reported shareholders
Reported holdings Number of shares
View holders
| Holder | Shares held |
|---|---|
Wong Hing C | 615.79K |
GARRETT SCOTT T | 203.44K |
Byam Rebecca | 57.25K |
Flowers Lee | 5.72K |
Winer Gary M | 4.08K |
Greene Rick S. | 2.07K |
Bars compare reported share counts. A matching total for this share class and reporting period is unavailable, so percentages are not shown.
Source: SEC Form 4 ↗Updated Sep 29, 2026 · Quarterly data
Insider buys & sells
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| May 22, 2026Form 4 | Wong Hing CChief Executive Officer | BuyCommon Stock | 113.9K | $1.41 | $160.6K | 615.8K |
| May 22, 2026Form 4 | Wong Hing CChief Executive Officer | BuyCommon Stock Purchase Warrant · derivative | 113.9K | $0.00 | $0.00 | 118.1K |
| May 22, 2026Form 4 | GARRETT SCOTT TDirector | BuyCommon Stock · indirect | 177.9K | $1.41 | $250.9K | 203.4K |
| May 22, 2026Form 4 | GARRETT SCOTT TDirector | BuyCommon Stock Purchase Warrant · derivative · indirect | 177.9K | $0.00 | $0.00 | 180.6K |
| May 22, 2026Form 4 | Byam RebeccaChief Financial Officer | BuyCommon Stock | 14.2K | $1.41 | $20.1K | 57.2K |