Armistice Capital Reduces Stake in HCW Biologics Inc. to 4.99%

On May 15, 2026, Armistice Capital, LLC and its managing member Steven Boyd filed a Schedule 13G/A with the SEC, disclosing a reduced ownership stake in HCW Biologics Inc. (HCWB). The reporting persons now beneficially own 353,680 shares of common stock, representing 4.99% of the company. This reflects a decrease from their previously reported position of 400,957 shares (9.99%). The shares are held directly by the Armistice Capital Master Fund Ltd., for which Armistice Capital, LLC serves as the investment manager. By virtue of this relationship, Armistice Capital and Mr. Boyd share voting and dispositive power over the securities. The filing indicates that the securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. With this reduction, the reporting persons' ownership has fallen below the 5% threshold, as noted in Item 5 of the filing.