Company: HCWB
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000950170-25-072833
Chunk: 2

Company: HCW Biologics Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 3
Chunk 2
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As of March 31, 2025, we had cash and cash equivalents of $1.1 million including cash, cash equivalents and market investments.  Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S. interest rates.  We are exposed to market risk related to the marketability of our Wugen common stock reported within Investments in the accompanying condensed interim balance sheet. Until such time as these shares become publicly traded, we will have limited access to liquidity for these securities.