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.