HCW BIOLOGICS INC

Ticker: HCWB CUSIP: 40423R204 Class: Common Stock

DRW Securities, LLC's Holding History (CIK: 0001481986)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 35,281 Value ($000) $34 Avg Close $2.83 Range $0.95 - $4.88

Q3 2025

Shares 83,436 Value ($000) $309 Avg Close $4.35 Range $2.77 - $7.35

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	35,281	$34	$2.83	$0.95 - $4.88
Q3 2025	83,436	$309	$4.35	$2.77 - $7.35