HCW Biologics Granted Nasdaq Extension, Must Meet Compliance by June 15 to Maintain Listing

HCW Biologics Inc. (the "Company" or "HCW Biologics") (NASDAQ:HCWB), a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between inflammation and age-related diseases, today reported that, on March 3, 2025, the Nasdaq Hearings Panel (the "Panel") of The Nasdaq Stock Market LLC ("Nasdaq" or the "Exchange") granted the Company an extension in which to regain compliance with all continued listing rules of The Nasdaq Capital Market.

The Panel's determination follows a hearing on February 13, 2025, at which the Panel considered the Company's plan to regain compliance with Listing Rules 5450(a)(1), 5450(b)(2)(A) and 5450(b)(2&3)(C), the minimum bid price ("Bid Price"), the market value of publicly held securities ("MVPHS") and the market value of listed securities ("MVLS") rules, respectively. As a result of the extension, the Panel granted the Company's request for continued listing on the Exchange, provided that the Company demonstrates compliance with the Bid Price Rule by April 25, 2025, and all other Exchange continued listing rules by June 15, 2025.