FX.co ★ HCW Biologics Gets Clearance Form FDA To Initiate Phase 1 Study Of HCW9302 In Alopecia Areata

HCW Biologics Inc. (HCWB), a company specializing in biopharmaceuticals at the clinical stage, announced on Monday that it has received a green light from the U.S. Food and Drug Administration (FDA) to commence a Phase 1 clinical trial of its lead investigational drug, HCW9302. This drug is targeted at treating alopecia areata, an autoimmune condition responsible for hair loss. As a result of this development, the company's stock price surged more than 175% in pre-market trading.

HCW9302 represents a novel advancement as an injectable, first-of-its-kind interleukin 2 (IL-2) fusion protein complex, developed utilizing the company's exclusive TOBI platform technology.

On the trading day preceding the announcement, HCW Biologics' stock closed at $0.2782, reflecting a 1.24% increase. Over the past year, the stock price has fluctuated between $0.21 and $2.52.