Maxim Group initiated coverage of HCW Biologics (NASDAQ:HCWB) with a “buy” rating and price target of $4. The stock closed at $2.28 on March 23.
HCW Biologics is addressing inflammaging; the chronic, sterile, low-grade inflammation that is thought to drive aging and age-related disease.
The company’s HCW9218 drug candidate targets senescent cells. “In oncology, these contribute to cancer recurrence, chemo side effects, and immune resistance,” writes analyst Michael Okunewitch. “As such, combination with standard of care is a target.”
The company has ongoing Phase 1 studies in pancreatic and solid tumors, with future development plans including, metabolic and neurodegenerative disease.
Mr. Okunewitch said the company’s HCW9302 targets the inflammasome through T-regexpansion, which contributes to autoimmune/inflammatory and neurodegenerative disease. A Phase 1 study is planned for alopecia areata.
“The aging and longevity space has seen significant investment, and cellular senescence in particular represents an area of interest for Big Pharma partnering,” he added. “HCW’s immunotherapeutic approach may have advantages through correcting the clearance and regulatory mechanisms that degrade with age, addressing a broad range of high value indications.”
