HCW Biologics Jumps, Doubles Again as Traders Pile Into Biotech Name

HCW Biologics Inc. shares jumped more than threefold Friday. The clinical-stage biotech posted a first-quarter profit, reversing a year-earlier loss, as results got a boost from a licensing payment from Beijing Trimmune Biotech. The gain came from licensing, not product revenue.

HCW Biologics Inc. posted a first-quarter profit, boosted by revenue from a China licensing agreement. That windfall offers the small Florida biotech a temporary boost as it awaits initial human trial results for its top autoimmune candidate.