Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 86

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 86
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 Cash and cash equivalents at the beginning of the period

    22,326,356

    3,595,101

    Cash and cash equivalents at the end of the period
     
    $
    3,595,101

    $
    4,674,572

    Supplemental disclosure of cash flow information:

    Cash paid for interest, net of amounts capitalized
     
    $
    283,042

    $
    569,770

    Noncash operating, investing and financing activities:

    Capital expenditures accrued, but not yet paid
     
    $
    4,240,593

    $
    2,010,478

    Purchases of property and equipment included in accounts payable and other liabilities
     
    $
    —

    $
    829,207

    Reserve for credit losses
     
    $
    5,250,000

    $
    —

The accompanying notes are an integral part of these financial statements. 

102

HCW Biologics Inc. 

Notes to the Financial Statements 

December 31, 2023 and 2024

1. Organization and Summary of Significant Accounting Policies Organization  HCW Biologics Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen health span by disrupting the link between chronic, low-grade inflammation and age-related diseases. The Company believes age-related low-grade chronic inflammation, or “inflammaging,” is a significant contributing factor to several chronic diseases and conditions, such as cancer, cardiovascular disease, diabetes, neurodegenerative diseases, and autoimmune diseases. The Company is located in Miramar, Florida and was incorporated in the state of Delaware in April 2018.  Liquidity and Going Concern﻿In accordance with FASB Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern (“Topic 205-40”), management is required to evaluate whether there are conditions and events, considered in the aggregate that raise substantial doubt about the Company’s ability to continue as a going concern for at least 12 months from the issuance date of the Company’s audited financial statements. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect