HCW BIOLOGICS INC

Ticker: HCWB CUSIP: 40423R204 Class: Common Stock

ARMISTICE CAPITAL, LLC's Holding History (CIK: 0001601086)

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

Q4 2025

Shares 300,180 Value ($000) $291 Avg Close $2.83 Range $0.95 - $4.88

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	300,180	$291	$2.83	$0.95 - $4.88