Is HCW Biologics going out of business?

HCW Biologics Inc. (HCWB) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

HCW Biologics Inc. (HCWB) scores 3 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: Reverse split detected; adjusted share change (-22.9% YoY) and the capital-structure risk is penalized.

Five questions, kept separate

Survival - Critical

Under 1 mo of estimated runway from 2026-06-30, based on $741K of cash and short-term investments against $13.4M of annual burn. Debt pressure is the other decisive risk.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Extreme expectations

-107.7% net-cash backing support an extreme expectations pre-commercial Valuation assessment.

Event risk - Critical event risk

Going-Concern Warning is the decisive filing event; one adverse event family is active. It appears across 2 scanned filings. Favorable events are shown separately and do not offset adverse risk.

What the rules read

• Shares dilution YoY: Reverse split detected; adjusted share change (-22.9% YoY) and the capital-structure risk is penalized.
• ROIC: -70.21%
• Interest coverage: -13.4x
• Filing event risk: Going-Concern Warning (-8 pts)
• Cash Runway (years): 0.06y
• Debt / Equity: 1.77x
• Revenue CAGR (3Y): -79.94%
• Return on Assets: -29.74%
• Revenue growth YoY: 1758.47% (YoY) - Early-Stage Surge (low base)
• FCF margin: -24693.20% (Inv. Mode)
• Revenue per Asset Efficiency: -98.09% QoQ
• Cash Burn Deceleration: -18684.06% QoQ improvement (Worsening)

Read from filings through 2026-08-14.

Price as of 2026-09-07.