HCW Biologics Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2024. The company highlighted receiving FDA clearance to begin clinical trials for HCW9302 in alopecia areata, a significant step in its clinical development.
Dr. Hing Wong, Founder and CEO, noted promising preclinical programs, including the new TRBC drug discovery and development platform, which has yielded 50 proprietary compounds. These TRBC-based molecules are believed to potentially reduce costs and improve clinical efficacy for Cell and Gene Based Therapies (CGTs).
As of December 31, 2024, the company maintained that substantial doubt exists regarding its ability to continue as a going concern for at least 12 months without additional funding. HCWB has completed some financing transactions and plans additional capital-raising activities for the first half of 2025.
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