Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 315

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 315
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 of development and clinical trials and, ultimately, seek approval for commercial sale. As such, the CODM uses cash forecast models in deciding how to invest into the life science segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance in conjunction with monitoring the results of R&D experiments for preclinical compounds and clinical trial data for clinical-stage compounds. The assessment of results of preclinical and clinical studies are critical to the allocation of resources by the CODM. 

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The tables below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2023 and 2024: 

        Years EndedDecember 31,

        2023

        2024

        Revenues:

        Revenues
         
        $
        2,841,794

        $
        2,566,792

        Cost of revenues

        (2,281,434
        )

        (1,607,389
        )

        Net revenues

        560,360

        959,403

        Operating expenses:

        Research and development expenses

        Salaries, benefits and related expenses

        2,940,979

        2,797,370

        Manufacturing and materials

        1,280,351

        1,425,734

        Preclinical expenses

        1,607,601

        859,701

        Clinical trials

        1,059,731

        558,215

        Overhead allocations

        787,654

        747,974

        Total research and development expenses

        7,676,316

        6,388,994

        General and administrative

        Salaries, benefits and related expenses

        3,216,860

        2,563,936

        Professional services(a)

        1,257,879

        1,171,885

        Facilities and office expenses

        634,080

        654,996

        Depreciation expenses

        266,763

        277,554

        Rent and occupancy expenses

        156,807

        205,511

        Insurance

        789,678

        952,200

        Taxes

        334,962

        196,804

        Other expenses

        122,486

        289,406

        Total general and administrative expenses