Company: HCWB
Filing Date: 2025-04-16
Form Type: 424B3
Source: 0001193125-25-082835
Chunk: 13

Company: HCW Biologics Inc.
Filing Date: 2025-04-16
Form: 424B3
Chunk 13
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 scientific and clinical personnel; |

| • |     | our ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; |

| • |     | our reliance on third parties to conduct clinical trials of our drug candidates, and for the manufacture of our 
 drug candidates for preclinical studies and clinical trials;                                                    |

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| • |     | our ability to establish our own manufacturing facilities domestically; |

| • |     | our ability to expand our drug candidates into additional indications and patient populations; |

| • |     | the success of competing therapies that are or may become available; |

| • |     | the beneficial characteristics, safety and efficacy of our drug candidates; |

| • |     | political and regulatory developments in the United States and other jurisdictions; |

| • |     | our ability to obtain and maintain regulatory approval of our drug candidates, and any related restrictions, 
 limitations and/or warnings in the label of any approved drug candidate;                                     |

| • |     | our plans relating to the further development and manufacturing of our drug candidates, including additional 
 indications for which we may pursue;                                                                         |

| • |     | cost of 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