HCW Biologics Announces $4.0 Million Private Placement to Advance Clinical Pipeline

On May 21, 2026, HCW Biologics Inc. entered into a Securities Purchase Agreement with accredited investors for a private placement of 2,846,975 units. Each unit consists of either one share of common stock at $1.28 or one pre-funded warrant at $1.2799, plus one common warrant to purchase an additional share at $1.28. The common warrants have a five-and-a-half-year term. The offering generated gross proceeds of approximately $4.0 million before fees. The Company intends to utilize the net proceeds to fund ongoing clinical trials for HCW9302, advance IND-enabling studies for its T-Cell Engager (HCW11-018b) and second-generation immune checkpoint inhibitor (HCW11-040), and for general corporate purposes, including debt repayment. In connection with the offering, the Company entered into a Registration Rights Agreement requiring the filing of a resale registration statement within 15 days of closing. E.F. Hutton & Co. LLC served as the exclusive placement agent for the transaction.