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HCW Biologics Reports Fourth Quarter and Full Year 2021 Financial Results and Business Highlights for 2021
$56 Million IPO Completed in July 2021 Expected to Fund Operating Expenses through 2023 FDA Clearance for Initial Clinical Trials in Two Difficult-to-Treat
About this update from Hcw Biologics Inc.
[{"type":"text","content":"$56 Million IPO Completed in July 2021 Expected to Fund Operating Expenses through 2023 FDA Clearance for Initial Clinical Trials in Two Difficult-to-Treat Cancer Indications Publication of Three Pivotal Scientific Papers in Peer-Reviewed Journals MIRAMAR, Fla., March 28, 2022 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen health span by disrupting the link between chronic, low-grade inflammation and age-related diseases, today reported recent business highlights and financial results for its fourth quarter and full year ended December 31, 2021. Dr. Hing C. Wong, the Founder and CEO of HCW Biologics, stated, “We accomplished a number of significant achievements in the past year. We fortified our balance sheet through an initial public offering. We advanced our clinical development programs, overcoming headwinds from the COVID-19 pandemic, supply chain disruptions, and critical supply shortages. We begin 2022 poised to initiate multiple clinical trials to evaluate HCW9218 in cancer indications. We are hopeful later this year we begin to see human data that demonstrate the potential for our immunotherapeutics in the treatment of chemotherapy-resistant cancer, and validate our focus on the elimination of cellular senescence, which is the etiology for many age-related diseases.” Year in Review – Business Highlights: In the year ended December 31, 2021, the Company achieved several milestones: IPO. On July 22, 2021, the Company closed its IPO resulting in net proceeds of approximately $49.2 million, after deducting underwriting discounts and commissions and offering expenses paid by the Company.HCWB added to Total Market Index. The Company was added to the S&P Total Market Index (“TMI”) on September 20, 2021.FDA clearance for Company-sponsored Phase 1b clinical trial in cancer. On October 28, 2021, the Company announced that it was cleared by the FDA to proceed to evaluate its lead drug candidate, HCW9218, in a first-in-human Phase 1b clinical trial in patients with advanced pancreatic cancer.FDA clearance for Investigator-sponsored Phase 1 clinical trial in cancer. On January 24, 2022, the Company announced that the Masonic Cancer Center at the University of Minnesota, a National Cancer Insti...