HCW Biologics Inc. (NASDAQ:HCWB) shares are trending on Thursday night.
HCWB shares surged 122.55% to $0.75 in after-hours trading on Thursday after the clinical-stage biopharmaceutical company posted first-quarter results, reporting earnings per share of $0.37, which beat the analyst estimate of -$0.44 by 184.09%.
Trimmune Deal Powers Revenue Turnaround
HCW Biologics reported revenue of $6.5 million for the quarter ended Mar. 31, compared with just $5,065 a year earlier. The increase was driven by the March closing of an exclusive worldwide licensing agreement with Beijing Trimmune Biotech for HCW11-006, a multi-functional fusion immunotherapeutic designed to treat solid tumors by activating CD8+ T cells and NK cells.
According to the company, the deal included a nonrefundable upfront license fee of $3.5 million in gross cash proceeds and an in-kind payment consisting of a $3.5 million transferable minority equity stake in Trimmune.
Net income of the Florida-based company swung to $3.5 million from a loss of $2.2 million in the first quarter of 2025. Research and development expenses and general and …