HCW Biologics Inc. (HCWB), a clinical-stage biopharmaceutical company, announced the pricing of its follow-on offering of an aggregate of 2.48 million units at a purchase price of $0.605 per unit priced at-the-market under Nasdaq rules. The gross proceeds from the offering are expected to be approximately $1.5 million.
The firm intends to use the net proceeds from this offering for funding pre-clinical and clinical trials for its lead candidate HCW9302, and general corporate purposes.
Each unit consists of one share of common stock and one warrant, each to purchase one share of common stock.
The warrant will have an exercise price of $0.605 per share, will be exercisable upon shareholder approval, and will expire on the five-year anniversary from such date of shareholder approval.
In addition, HCW Biologics has entered into a privately negotiated agreement with the holder of certain existing outstanding warrants to purchase up to 3.02 million shares of common stock to reduce the exercise price of such Existing Warrants from $2.41 per share to $0.6055 per share.
The closing of the offering is expected to occur on or about February 19, 2026.
Maxim Group LLC is acting as the sole placement agent for the offering.
The Company's lead product candidate, HCW9302, is developed for autoimmune diseases and a few other proinflammatory conditions. The firm has dosed the first patient in a multi-centre Phase 1 clinical trial to evaluate HCW9302 for an autoimmune disease.
HCWB has traded between $0.60 and $17.80 in the last one year. The stock closed Tuesday's trade at $0.60, down 7.54%.
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