NASDAQ:HCWB 15 May 2026 - 20 May 2026

HCW Biologics shares surged 122% to $2.35 Wednesday, trading as high as $3.96 on heavy volume after a new securities filing and recent earnings. The company is seeking up to $5.6 million in a stock or warrant offering to fund development of its IL-2 fusion protein, HCW9302. First-quarter revenue rose to $6.54 million, mainly from a licensing deal with Beijing Trimmune Biotech.

HCW Biologics shares jumped 262% to $1.22 Friday after the company posted a $3.47 million first-quarter profit, driven by a $6.5 million licensing deal with Beijing Trimmune Biotech. The company faces a possible Nasdaq delisting and will ask shareholders to approve a reverse stock split on June 15. HCW plans to report early Phase 1 data for its alopecia drug in the first half of 2026.

HCW Biologics posted first-quarter net income of $3.47 million on $6.54 million in revenue, reversing a year-earlier loss, after a licensing deal with Beijing-based Trimmune Biotech. The company remains below Nasdaq’s $1 minimum bid and awaits early human data from its lead autoimmune drug, HCW9302, in alopecia areata. HCW also reported positive animal study results for a lung drug targeting premature infants.