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HCW Biologics Valuation Multiples

Discover revenue and EBITDA valuation multiples for HCW Biologics and similar public comparables like Galapagos, Benevolent AI, and Vivoryon Therapeutics.

HCW Biologics Overview

About HCW Biologics

HCW Biologics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen the health span by disrupting the link between chronic, low-grade inflammation and age-related diseases. The company has developed TOBI  discovery platform, or Tissue factor-based fusion discovery platform, for the design of category-defining immunotherapeutic drugs. It has selected two molecules as its product candidate; HCW9218 and HCW9302. HCW9218 is a bifunctional immunotherapeutic designed with the capabilities to neutralize transforming growth and stimulate immune cells. HCW9302 is designed to activate and expand regulatory T cells, which deactivate inflammasomes.


Founded

2018

HQ

United States of America
Employees

36

Financials

LTM Revenue $1.0M

LTM EBITDA n/a

EV

$18.3M

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HCW Biologics Financials

HCW Biologics has a last 12-month revenue of $1.0M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, HCW Biologics achieved revenue of $2.6M and an EBITDA of -$27.7M.

HCW Biologics expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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HCW Biologics P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $2.8M $2.6M XXX XXX XXX
Gross Profit $2.6M $0.6M XXX XXX XXX
Gross Margin 91% 22% XXX XXX XXX
EBITDA -$23.6M -$27.7M XXX XXX XXX
EBITDA Margin -830% -1078% XXX XXX XXX
Net Profit -$14.9M -$25.0M XXX XXX XXX
Net Margin -524% -974% XXX XXX XXX
Net Debt n/a $2.7M XXX XXX XXX

Financial data powered by Morningstar, Inc.

HCW Biologics Stock Performance

As of April 15, 2025, HCW Biologics's stock price is $8.

HCW Biologics has current market cap of $9.3M, and EV of $18.3M.

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HCW Biologics Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$18.3M $9.3M XXX XXX XXX XXX $-30.80

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HCW Biologics Valuation Multiples

As of April 15, 2025, HCW Biologics has market cap of $9.3M and EV of $18.3M.

HCW Biologics's trades at 19.1x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate HCW Biologics's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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HCW Biologics Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $18.3M XXX XXX XXX
EV/Revenue 7.1x XXX XXX XXX
EV/EBITDA -0.7x XXX XXX XXX
P/E -0.3x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -1.3x XXX XXX XXX

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HCW Biologics Valuation Multiples

HCW Biologics's NTM/LTM revenue growth is -100%

HCW Biologics's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.4M for the same period.

Over next 12 months, HCW Biologics's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate HCW Biologics's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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HCW Biologics Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -10% XXX XXX XXX XXX
EBITDA Margin -1078% XXX XXX XXX XXX
EBITDA Growth 17% XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $0.1M XXX XXX XXX XXX
Opex per Employee $0.4M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 235% XXX XXX XXX XXX
R&D Expenses to Revenue 249% XXX XXX XXX XXX
Opex to Revenue 545% XXX XXX XXX XXX

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HCW Biologics Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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HCW Biologics M&A and Investment Activity

HCW Biologics acquired  XXX companies to date.

Last acquisition by HCW Biologics was  XXXXXXXX, XXXXX XXXXX XXXXXX . HCW Biologics acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by HCW Biologics

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About HCW Biologics

When was HCW Biologics founded? HCW Biologics was founded in 2018.
Where is HCW Biologics headquartered? HCW Biologics is headquartered in United States of America.
How many employees does HCW Biologics have? As of today, HCW Biologics has 36 employees.
Who is the CEO of HCW Biologics? HCW Biologics's CEO is Dr. Hing C. Wong, PhD.
Is HCW Biologics publicy listed? Yes, HCW Biologics is a public company listed on NAS.
What is the stock symbol of HCW Biologics? HCW Biologics trades under HCWB ticker.
When did HCW Biologics go public? HCW Biologics went public in 2021.
Who are competitors of HCW Biologics? Similar companies to HCW Biologics include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of HCW Biologics? HCW Biologics's current market cap is $9.3M
What is the current revenue of HCW Biologics? HCW Biologics's last 12-month revenue is $1.0M.
What is the current EV/Revenue multiple of HCW Biologics? Current revenue multiple of HCW Biologics is 19.1x.
What is the current revenue growth of HCW Biologics? HCW Biologics revenue growth between 2023 and 2024 was -10%.
Is HCW Biologics profitable? Yes, HCW Biologics is EBITDA-positive (as of the last 12 months).

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