--- title: "HCW Biologics wins Nasdaq panel extension to meet equity rule by December 31" url: "https://aibio.space/news/hcw-biologics-wins-nasdaq-panel-extension-meet-equity-rule-december-31/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-10-16" section: "Listings" tickers: "NASDAQ:HCWB" source: "https://www.sec.gov/Archives/edgar/data/1828673/000119312525240890/hcwb-20251013.htm" summary: "A Nasdaq Hearings Panel granted HCW Biologics (Nasdaq: HCWB) continued listing on October 13, 2025. The company must show compliance with the Equity Rule b" --- By the aibio.space news desk. Sources - [HCW Biologics Inc. Form 8-K filed October 16, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1828673/000119312525240890/hcwb-20251013.htm) - [HCW Biologics Inc. Form 10-K filed March 28, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1828673/000095017025046724/hcwb-20241231.htm) [HCWB](https://aibio.space/companies/hcw-biologics/) 2025-10-16 # HCW Biologics wins Nasdaq panel extension to meet equity rule by December 31, 2025 Tickers [HCWB](https://aibio.space/companies/hcw-biologics/) A Nasdaq Hearings Panel granted HCW Biologics (Nasdaq: HCWB) continued listing on October 13, 2025. The company must show compliance with the Equity Rule by December 31, 2025 and with all other rules by February 16, 2026. ## Key facts - **Company**: HCW Biologics Inc. (NASDAQ: HCWB) - **News type**: Listings - **Primary source**: [HCW Biologics Inc. Form 8-K filed October 16, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1828673/000119312525240890/hcwb-20251013.htm) *The Capitol dome and spring blossom. Photo: Angie Drake, CC0, via Wordpress. The picture shows the field, not the companies named.* HCW Biologics Inc. (Nasdaq: [HCWB](https://aibio.space/companies/hcw-biologics/)) said a Nasdaq Hearings Panel has given it more time to meet Nasdaq's continued listing rules. The company reported the decision in a [Form 8-K filed October 16, 2025](https://www.sec.gov/Archives/edgar/data/1828673/000119312525240890/hcwb-20251013.htm). ## What the filing says On August 19, 2025, HCW received written notice from the Listing Qualifications Staff of the Nasdaq Stock Market LLC that, as of June 30, 2025, it was non-compliant with Listing Rule 5550(b)(1). The filing calls this rule the Equity Rule for continued listing on The Nasdaq Capital Market. The notice is a listing deficiency notice, which means the exchange has found that the company no longer meets a requirement for staying listed. HCW made a timely request for a hearing before the Nasdaq Hearings Panel. The hearing was held on September 25, 2025. At the hearing, the company presented its plan to regain compliance with the Equity Rule, and the Panel considered it. ## The Panel's decision On October 13, 2025, the Panel granted HCW an extension in which to regain compliance with all continued listing rules. The Panel granted the company's request for continued listing, subject to several conditions. Among other things, HCW must demonstrate compliance with the Equity Rule by December 31, 2025, and with all other continued listing rules by February 16, 2026. The company was advised that February 16, 2026 represents the full extent of the Panel's discretion to grant continued listing while the company is non-compliant with the Nasdaq Listing Rules. The 10-K also says the Panel had held an earlier hearing on February 13, 2025, and accepted the company's plan to regain compliance on March 3, 2025. ## Conditions during the exception period The Panel set further requirements. HCW must give prompt notification of any significant events that occur during the exception period that may affect its compliance with Nasdaq requirements. It must timely file its Form 10-Q for the third quarter. It must also give notice of the status of certain elements of its compliance plan. Any compliance documentation HCW submits will be subject to review by the Panel. The Panel may, in its discretion, request additional information before it decides that the company has complied with the terms of the exception. The Panel's decision is the latest step in a process that began with the staff's August 19, 2025 notice. The Panel also has discretion to review its decision to grant the exception period within 45 calendar days after issuance of the written decision. ## About the company HCW Biologics describes itself in its [annual report on Form 10-K filed March 28, 2025](https://www.sec.gov/Archives/edgar/data/1828673/000095017025046724/hcwb-20241231.htm) as a clinical-stage biopharmaceutical company developing proprietary immunotherapies to treat diseases promoted by chronic inflammation, especially age-related and senescence-associated diseases. The company says it has developed two drug discovery and development platforms. One is its legacy TOBI (Tissue factOr-Based fusIon) platform, which is designed to engineer multi-functional fusion protein molecules and protein complexes. It employs a Tissue Factor scaffold that can be packaged with multiple protein targets. The other is a newly developed targeted platform, the T-cell Receptor β Chain constant region (TRBC) platform. The 10-K says the company believes its lead product candidates represent a novel immunotherapeutic approach and a clinically promising new class of senotherapeutic drugs for the treatment of age-related diseases. ## Cash and going concern The 10-K says that as of December 31, 2024 the company held $4.7 million of cash and cash equivalents and that there was substantial doubt about its ability to continue as a going concern for at least 12 months from the issuance date of its financial statements. It describes itself as having no commercial revenues from the products it is developing and no products approved for commercial sale. Its funding has come from senior secured notes, sales of common stock and warrants in private placements, and direct registered offerings. The company says it needs additional funding, which may not be available on acceptable terms, and that failure to obtain it may force cuts to its development programs. The 8-K does not say what steps the compliance plan includes. ## Who is involved Founder and Chief Executive Officer Hing C. Wong signed the 8-K. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story HCWB HCW Biologics Inc. NASDAQ · United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/hcw-biologics-wins-nasdaq-panel-extension-meet-equity-rule-december-31/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "HCW Biologics wins Nasdaq panel extension to meet equity rule by December 31", 2025-10-16, https://aibio.space/news/hcw-biologics-wins-nasdaq-panel-extension-meet-equity-rule-december-31/