HCW Biologics Inc. (HCWB) is an immunotherapy company engaged in the treatment of inflammation or chronic, low-grade inflammation and age-related diseases such as oncological disorders, diabetes, cardiovascular, neurodegenerative, and autoimmune diseases. The pipeline candidates of the company include HCW9218 for treating pancreatic cancer and HCW9302 for autoimmune disorders.
The price of HCWB stock during the regular trading on January 21, 2022, was $2.02 with a steep 12.55% decrease. At last check in the premarket on January 24, 2022, the stock was significantly up by 4.95%.
HCWB: Events and Happenings
On January 24, 2022, HCWB reported about clearance by FDA for the Masonic Cancer Center for proceedings to assess HCW9218’s Phase 1 trial in solid tumor patients. The lead pipeline candidate of the company is an injectable, bifunctional fusion protein complex used to gear anti-tumor activity.
On January 20, 2022, HCWB reported about its research paper publication in Molecular Therapy titled ‘Immunotherapeutic HCW9218 enhances the anti-tumor activity of chemotherapy via NK cell-mediated reduction of therapy-induced senescent cells.’
On January 19, 2022, the company reported that its Executives presented at the 24th Annual PepTalk Virtual Conference by Cambridge Healthtech Institute held on January 17-19, 2022. On January 06, 2022, HCWB reported that the company’s Executives presented at the H.C. Wainwright BioConnect Conference held on January 10 – 13, 2022.
On December 13, 2021, HCWB reported that the company’s CEO Hing C. Wong was nominated by BioFlorida as the 2021 Entrepreneur of the Year.
HCWB: Key Financials
On November 12, 2021, HCWB reported its financial results for its third quarter ended September 30, 2021. Some of the key updates are as follows.
Net Loss per Share
Basic and diluted net loss in Q3 2021 was $4.1 million or $0.14 per share compared to $2.7 million or $0.63 per share in the same period of 2020.
Assets
Total current assets of the company in Q3 2021 were recorded to be $12.1 million.
Conclusion
HCWB stock dipped by 62% from the last half-year as a result of pandemic and slow economic growth. The current premarket rise in the company’s stock is due to the clearance received by the FDA. The analysts are suggesting that the company is outperforming in all the sectors despite the restrictions put by the pandemic.
