Company: HCWB
Filing Date: 2025-04-16
Form Type: 424B3
Source: 0001193125-25-082835
Chunk: 12

Company: HCW Biologics Inc.
Filing Date: 2025-04-16
Form: 424B3
Chunk 12
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 do not relate strictly to historical or current facts. When used in this prospectus, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this prospectus and in any document incorporated by reference in this prospectus, including the Annual Report filed on Form 10-Kon March 28, 2025 (the “Annual Report”), may include, for example, statements about:

| • |     | management’s going concern assessment; |

| • |     | the occurrence of any event, change or other circumstances, including the outcome of any legal proceedings 
 that may be instituted against us;                                                                         |

| • |     | financial performance and the ability to maintain the listing of our securities on Nasdaq, and the potential 
 liquidity and trading of our securities;                                                                     |

| • |     | the sufficiency of our existing cash and cash equivalents to fund our future operating expenses and capital 
 expenditure requirements and the risk of disruption to our current plans and operations;                    |

| • |     | our ability to obtain funding for our operations, including funding necessary to develop and commercialize our 
 drug candidates;                                                                                               |

| • |     | timing, costs and outcome of regulatory review, and impact on our ability to receive FDA clearance for clinical 
 trials;                                                                                                         |

| • |     | the ability to secure clinical sites, enroll patients, and initiate clinical trials; |

| • |     | number of trials needed to obtain clinical approval; |

| • |     | the ability of our clinical trials to demonstrate safety and efficacy of our drug candidates, and other positive 
 results;                                                                                                         |

| • |     | the success, cost and timing of our development activities, preclinical studies and clinical trials; |

| • |     | the timing and focus of our future clinical trials, and the reporting of data from those trials; |

| • |     | our plans relating to commercializing our drug candidates, if approved; |

| • |     | our plans and ability to establish sales, marketing and distribution infrastructure to commercialize any drug 
 candidates for which we obtain approval;                                                                      |

| • |     | our ability to attract and retain key