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

(RTTNews) - HCW Biologics Inc. (HCWB) a clinical-stage biopharmaceutical company, Monday said that the Food and Drug Administration (FDA)has given clearance to initiate a Phase 1 study of its lead drug candidate HCW9302, in patients with alopecia areata, an autoimmune disease that causes hair loss. The company's shares were more than 175 percent up in pre-market.

HCW9302 is an injectable, first-in-kind interleukin 2 (IL-2) fusion protein complex constructed using the Company's proprietary TOBI platform technology.

HCW Biologics had closed at $0.2782, up 1.24 percent on Friday. It has traded in the range of $0.21 - 2.52 in the last 1 year.