HCW Biologics announces IPO with $56 million valuation

By Brian Buntz | July 19, 2021

HCW Biologics Inc. (NASDAQ:HCWB) has announced that it is launching an underwritten initial public offering of 7,000,000 shares of common stock. Initially valued at $8.00 per share, the IPO would generate approximately $56.0 million. That sum does not include underwriting discounts, commissions and other offering expenses.

The Miramar, Fla.–based preclinical-stage company specializes in immunotherapies that address chronic, low-grade inflammation and age-related diseases. It also has several experimental treatments for several cancers.

The company expects the stock to begin trading on July 20 and the offering to close on approximately July 22, 2021.

The company has developed a proprietary immunotherapeutic platform known as Tissue factOr-Based fusIon (TOBI) based on the tissue factor scaffold.

The company’s lead product candidate is HCW9218, a potential treatment that could minimize adverse events from chemotherapy.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at [email protected].