Nasdaq Deadline Looms for HCW Biologics as Stock Slips Toward $1 Mark
HCW Biologics shares fell 4.5% to $1.605 Thursday as the company faces a July 29 deadline to keep its Nasdaq listing by maintaining a $1 bid for 20 straight sessions. The firm recently raised $4 million in a private placement and reclaimed CAR-T reagent rights from Wugen Inc. First-quarter net income reached $3.5 million, but HCW warned of “substantial doubt” about its ability to continue operating without additional funding.