Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 308

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 308
---
 do not embody an obligation for the Company to repurchase its shares, permit the holders to receive a fixed number of shares of Common Stock upon exercise, are indexed to the Company’s Common Stock and meet the equity classification criteria. In addition, the Common Stock Warrants and the Pre-Funded Warrants do not provide any guarantee of value or return. On November 20, 2024, the Investor exercised all of the Pre-Funded Warrants by delivering a notice of exercise to the Company and paying the exercise price. The Company issued 2,557,000 shares of registered Common Stock to the Investor on November 21, 2024. There were no Common Stock Warrants exercised as of December 31, 2024.  

9. Preferred StockAt December 31, 2023 and December 31, 2024, the Company had 10,000,000 shares of preferred stock authorized and no such shares issued.  

10.  Net Loss Per Share The following table summarizes the computation of the basic and diluted net loss per share:  

        Years Ended December 31,

        2023

        2024

        Numerator:

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

        Denominator:

        Weighted-average common shares outstanding

        35,929,446

        38,793,018

        Net loss per share, basic and diluted
         
        $
        (0.70
        )
         
        $
        (0.77
        )

       The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive:  

        At December 31,

        2023

        2024

        Common stock options

        1,779,338

        1,784,036

        Potentially dilutive securities

        1,779,338

        1,784,036

11. Stock-based CompensationOn June 21, 2021, the 2021 Plan was adopted by the Company’s board of directors and approved by the Company’s stockholders.  As of the adoption date, the 2019 Plan was terminated.  No terms were changed for grants previously awarded under the 2019 Plan, and the Company concluded a modification did not occur. Under the 201