HCW Biologics Inc. (the "Company" or "HCW Biologics") (Nasdaq: HCWB), a U.S.-based clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation, focusing on autoimmune disorders and other inflammatory diseases, cancer and senescence-associated dysplasia, today reported that, on June 29, 2026, the Nasdaq Hearings Panel (the "Panel") of The Nasdaq Stock Market LLC ("Nasdaq" or the "Exchange") found that the Company regained compliance with Listing Rule 5550(a)(2), the "Bid Price Rule," per the terms set forth in the Panel’s decision letter dated May 29, 2026, as amended, and is subject to a mandatory monitoring period through June 17, 2027.

To ensure long-term compliance with the Bid Price Rule, the Company will effect a reverse stock split at a one-for-six ratio on June 30, 2026.