HCW Biologics Inc. (NASDAQ: HCWB) experienced a remarkable 122.55% surge in its stock price, reaching $0.75 in after-hours trading on Thursday, following the release of its first-quarter earnings report. The clinical-stage biopharmaceutical company reported an earnings per share of $0.37, which far exceeded analysts' expectations of -$0.44, marking a 184.09% improvement. The revenue for the quarter was $6.5 million, a significant increase from just $5,065 in the same quarter last year, largely attributed to an exclusive licensing agreement with Beijing Trimmune Biotech for its HCW11-006 immunotherapeutic. This deal included a $3.5 million upfront license fee and a $3.5 million minority equity stake in Trimmune. Additionally, HCW Biologics reported a net income of $3.5 million, rebounding from a $2.2 million loss in the previous year. Despite these positive developments, the company has expressed concerns regarding its ability to continue operations without additional funding and is currently appealing a Nasdaq delisting determination due to non-compliance with the minimum bid price requirement. As of now, HCW Biologics has a market capitalization of $2.27 million, with a 52-week high of $10.50 and a 52-week low of $0.25.