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HCW Biologics Inc. ( HCW Biologics or the Company ) is a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation. We have created novel compounds that represent a new class of drugs that we believe have the potential to fundamentally change the treatment of autoimmune disorders and other proinflam…
The business is unprofitable at the operating level (-24270.74% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 97.9% YoY. Margins deteriorated 23123.1pp alongside, both lines moving the wrong way.
Negative free cash flow of -$13M. The business is consuming cash, not generating it. Operating margin contracted 23123.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$7M
▼ -97.9% YoY
Net Income (TTM)
-$2M
▲ +73.5% YoY
Op. Margin
-121.56%
▼ -23123.1pp YoY
ROIC
-70.85%
▲ +49.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$11M
▲ +7.6% YoY
Op. Cash Flow (TTM)
-$11M
▲ +5.9% YoY
Net Debt
$5M
Cash & Equiv.
$1M
5Y CAGR: -57.9%
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