Financial Performance - Revenues for Q4 2024 were 1.3 million in Q4 2023; total revenues for the fiscal year 2024 were 2.8 million in 2023[11] - Net loss for Q4 2024 was 10.7 million in Q4 2023; total net loss for 2024 was 25.0 million in 2023[11] - Revenues for the three months ended December 31, 2023, were 394,804 for the same period in 2024, representing a significant increase[18] - Net loss for the three months ended December 31, 2023, was (3,373,273) for the same period in 2024, indicating a worsening financial position[18] - Total operating expenses for the three months ended December 31, 2023, were 3,238,720 in 2024, reflecting increased costs[18] - The accumulated deficit as of December 31, 2023, was (100,556,137) in 2024, highlighting ongoing financial challenges[20] - The company reported a net loss per share of (0.08) for the same period in 2024[18] - Weighted average shares outstanding increased from 35,996,415 in 2023 to 42,301,694 in 2024, reflecting potential dilution of shares[18] Research and Development - R&D expenses for Q4 2024 were 2.1 million in Q4 2023; total R&D expenses for 2024 were 7.7 million in 2023[11] - Research and development expenses for the year ended December 31, 2023, were 6,388,994 in 2024, showing a year-over-year increase[18] - The company constructed 50 proprietary compounds using the TRBC platform for treating hematologic and solid tumors, virally infected cells, and age-related diseases[3] - The company is focusing on developing Immune-Cell Engagers, including T-Cell Engagers, through corporate partnerships and out-licensing arrangements[6] - The company received clearance from the FDA to initiate a Phase 1 clinical trial for HCW9302 in patients with moderate-to-severe alopecia areata[9] Financial Position and Funding - The company raised 6.9 million securities purchase agreement with an institutional investor[6] - The company expects to receive 15.9 million, primarily due to costs associated with arbitration proceedings[11] - The company has substantial doubt regarding its ability to continue as a going concern for at least 12 months without additional funding[12] Assets and Liabilities - Cash and cash equivalents as of December 31, 2023, were 4,674,572 in 2024, indicating a decrease in liquidity[20] - Total assets as of December 31, 2023, were 30,236,578 in 2024, showing a growth in total assets[20] - Total liabilities increased significantly from 37,006,750 in 2024, indicating a rise in financial obligations[20]
HCW Biologics(HCWB) - 2024 Q4 - Annual Results