HCW Biologics Inc. entered into a Securities Purchase Agreement on September 23, 2026, to sell 903,614 units at $1.6599 per unit for aggregate gross proceeds of approximately $1.5 million. Each unit consists of one pre-funded warrant exercisable immediately and the right to receive one common stock purchase warrant with a $1.66 exercise price expiring in 5.5 years, subject to stockholder approval under Nasdaq Listing Rule 5635(d). The company intends to use net proceeds for working capital and continuing clinical development activities, including trials for HCW9302 and IND-enabling studies for HCW11-018b and HCW11-040. Maxim Group LLC served as the sole placement agent. HCW Biologics Inc. is a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to treat autoimmune diseases, cancer, and senescence-associated dysplasia.
