HCWB News & Events

HCW Biologics announced that it has exercised its option to regain full ex vivo rights to HCW9206 and HCW9201, two commercial-ready compounds as reagents, from its licensee, Wugen. Wugen held exclusive worldwide rights to these two compounds for ex vivo, cell-based therapy applications. The company acquired these rights for no cost and retained the nonrefundable upfront license fee, including 2.2M shares of Wugen common stock.

HCW Biologics announced the pricing of its private placement of an aggregate of 2,846,975 units at a purchase price of $1.405 per unit priced at-the-market under Nasdaq rules to a group of healthcare investors. Each unit consists of one share of common stock at a purchase price of $1.28 per share and (ii) one warrant at a purchase price of $0.125 per warrant, each to purchase one share of common stock. The warrants will have an exercise price of $1.28 per share, will be exercisable immediately upon issuance, and will expire on the five and one-half year anniversary of the original issuance date. The shares of common stock and the warrants comprising the units are immediately separable and will be issued separately in this offering. The closing of the offering is expected to occur on or about May 21, subject to the satisfaction of customary closing conditions. E.F. Hutton & Co. is acting as the sole placement agent for the offering.