Company: HCWB
Filing Date: 2025-04-07
Form Type: S-1
Source: 0001193125-25-073723
Chunk: 14

Company: HCW Biologics Inc.
Filing Date: 2025-04-07
Form: S-1
Chunk 14
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 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, 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