Company: HCWB
Filing Date: 2025-04-28
Form Type: DRS
Source: 0000950123-25-003769
Chunk: 17

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DRS
Chunk 17
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 maintaining, expanding, and enforcing our intellectual property rights; |

| • |     | our plans and ability to obtain or protect intellectual property rights; |

| • |     | the scope of protection we are able to establish and maintain for intellectual property rights covering our drug 
 candidates and technology;                                                                                       |

| • |     | potential claims relating to our intellectual property; |

| • |     | impact of litigation, regulatory inquiries, or investigations, as well as cost to indemnify our officers and 
 directors against third-party claims related to our patents and other intellectual property;                 |

| • |     | cost and timing of buildout of our new headquarters, including a biologics manufacturing facility, including                                                         
 risks of balances due to general contractor and subcontractors, cost overruns and delays, and ability to obtain additional funding required to complete the project; |

| • |     | our ability to enter out-license agreements for the development and commercialization of the Company’s 
 non-core assets;                                                                                       |

| • |     | cost and timing of future commercialization activities, including product manufacturing, marketing, sales and 
 distribution, for any of our product candidates for which we receive regulatory approval; and                 |

| • |     | other factors disclosed under the section entitled “Risk Factors” in this prospectus. |

Forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management’s beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control, including those described in the section titled “Risk Factors” and elsewhere in this prospectus and the documents incorporated by reference into this prospectus. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Accordingly, you should not place undue reliance on forward-looking statements as predictions of future events. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this prospectus to conform these statements to actual results or to changes in our expectations, except as required by law. You should read this prospectus, the documents incorporated by reference into this prospectus, any free writing prospectus and the documents that we reference in this prospectus and have filed with the SEC, as exhibits to the registration statement of which this prospectus is a part