HCW Biologics Inc. reported its financial results and business highlights for the first quarter ended March 31, 2025. The company announced the successful closing of a $5.0 million equity offering on May 15, 2025, with a single institutional investor.
This new funding is designated to open clinical sites for the Phase 1 clinical trial evaluating HCW9302 in an autoimmune disorder. It will also support critical studies to complete the research package for a business development campaign aimed at licensing Immune-Cell Engagers from the TRBC platform.
The company highlighted HCW9206 as a promising reagent to streamline and lower CAR-T manufacturing costs, and improve CAR-T functional activities and persistence, for which it is seeking commercial partnerships. As of March 31, 2025, management still believes substantial doubt exists regarding its ability to continue as a going concern without additional funding.
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