Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 281

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 281
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    Issuance cost of common stock

    —

    —

    (226,201
    )

    —

    (226,201
    )

    Issuance costs of common stock warrants

    —

    —

    (411,844
    )

    —

    (411,844
    )

    Stock-based compensation

    —

    —

    1,009,011

    —

    1,009,011

    Net loss

    —

    —

    —

    (30,023,814
    )

    (30,023,814
    )

    Balance, December 31, 2024

    44,541,295

    $
    4,454

    $
    93,781,511

    $
    (100,556,137
    )
     
    $
    (6,770,172
    )

The accompanying notes are an integral part of these financial statements. 

101

HCW Biologics Inc.

Statements of Cash Flows 

    Years Ended December 31,

    2023

    2024

    Cash flows from operating activities:

    Net loss
     
    $
    (24,994,277
    )
     
    $
    (30,023,814
    )

    Adjustments to reconcile net loss to net cash used in operating activities:

    Depreciation and amortization

    1,135,184

    1,184,389

    Stock-based compensation

    1,003,749

    1,009,011

    Unrealized (gain) on investments, net

    (248,445
    )

    —

    Realized (gain) on investments, net

    (15,625
    )

    —

    Changes in the carrying amount of right-of-use asset

    (1,671
    )

    (418
    )

    Reserve for credit losses

    5,250,000

    —

    Changes in operating assets and liabilities:

    Accounts receivable

    (1,118,061
    )

    953,556

    Deposit for interest reserve

    (5,250,000
    )

    —

    Prepaid expenses and other assets

    432,410

    831,622

    Accounts payable and other liabilities

    1,619,357

    11,874,767

    Operating lease liability

    (326,742