Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 8,345,769 $ 7,842,667
Accounts receivable 10,034 82,305
Prepaid expenses and other current assets 273,262 338,049
Total Current Assets 8,629,065 8,263,021
Property and Equipment, net 308,210 359,592
Other Assets    
Restricted cash 2,292 101,171
In-process R&D 5,866,000
Goodwill 2,189,338
Deposits 69,798 69,798
Related party receivable 103,017
Total Other Assets 8,127,428 273,986
Total Assets 17,064,703 8,896,599
Current Liabilities    
Accounts payable 1,007,671 290,058
Deferred revenue 1,409,212
Accrued expenses and other liabilities 702,740 1,305,173
Total Current Liabilities 3,119,623 1,595,231
Long Term Liabilities    
Other long term liabilities 439,618 461,434
Deferred tax liability 2,111,760
Contingent consideration 2,385,000
Total Liabilities 8,056,001 2,056,665
Commitments and Contingencies  
Stockholders' Equity    
Common stock, $.0002 par value; 50,000,000 shares authorized, 35,769,846 and 26,204,390 shares issued and outstanding at June 30, 2017 (unaudited) and December 31, 2016, respectively 6,839 4,926
Additional paid-in capital 73,726,240 65,868,541
Accumulated deficit (63,413,508) (57,004,655)
Accumulated other comprehensive loss (148,266) (72,231)
Total Stockholders' Equity - Heat Biologics, Inc. 10,171,305 8,796,581
Non-Controlling Interest (1,162,603) (1,956,647)
Total Stockholders' Equity 9,008,702 6,839,934
Total Liabilities and Stockholders' Equity $ 17,064,703 $ 8,896,599
v3.7.0.1
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue:        
Grant and licensing revenue $ 411,250 $ 435,490
Operating expenses:        
Research and development 2,151,932 1,776,325 3,964,833 5,434,333
General and administrative 1,582,581 1,083,298 3,109,596 2,114,456
Total operating expenses 3,734,513 2,859,623 7,074,429 7,548,789
Loss from operations (3,323,263) (2,859,623) (6,638,939) (7,548,789)
Non-operating income (expenses)        
Interest income 6,466 7,854 11,687 18,955
Other income (expense), net 7,716 (57,166) 77,443 22,535
Interest expense (123,832) (259,954)
Total non-operating income (expenses), net 14,182 (173,144) 89,130 (218,464)
Net loss (3,309,081) (3,032,767) (6,549,809) (7,767,253)
Net loss - non-controlling interest (90,166) (107,546) (140,956) (282,428)
Net loss attributable to Heat Biologics, Inc. $ (3,218,915) $ (2,925,221) $ (6,408,853) $ (7,484,825)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted $ (0.09) $ (0.17) $ (0.21) $ (0.56)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted 35,244,833 17,524,641 31,124,119 13,324,641
Other comprehensive loss:        
Net loss $ (3,309,081) $ (3,032,767) $ (6,549,809) $ (7,767,253)
Unrealized (loss)/gain on foreign currency translation (9,660) 49,233 (76,035) (26,574)
Total other comprehensive loss (3,318,741) (2,983,534) (6,625,844) (7,793,827)
Comprehensive loss attributable to non-controlling interest (90,166) (107,546) (140,956) (282,428)
Comprehensive loss $ (3,228,575) $ (2,875,988) $ (6,484,888) $ (7,511,399)
v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities    
Net loss $ (6,549,809) $ (7,767,253)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 66,671 65,553
Amortization of deferred financing costs and debt issuance costs 51,489
Amortization of held to maturity investment premium 32,733
Stock-based compensation 402,349 341,756
Increase (decrease) in cash arising from changes in assets and liabilities:    
Accounts receivable 72,543
Prepaid expenses and other current assets 68,591 434,725
Related party receivable (27,000)
Restricted cash 98,879
Accounts payable (202,244) (1,523,093)
Deferred revenue 1,409,212
Accrued expenses and other liabilities (767,418) (748,775)
Other long term liabilities (21,816) 247,017
Net Cash Used in Operating Activities (5,423,042) (8,892,848)
Cash Flows from Investing Activities    
Proceeds from maturities of short-term investments 6,656,910
Purchase of Pelican, net of cash acquired (468,801)
Purchase of property and equipment (15,289) (43,501)
Net Cash (Used in) Provided by Investing Activities (484,090) 6,613,409
Cash Flows from Financing Activities    
Proceeds from public offering, net of underwriting discounts 4,183,000 6,287,250
Proceeds from the issuance of common stock, net of commissions 2,461,880
Stock issuance costs (239,617) (190,768)
Payments on long term debt (1,613,125)
Net Cash Provided by Financing Activities 6,405,263 4,483,357
Effect of exchange rate changes on cash and cash equivalents 4,971 (28,481)
Net (Decrease) Increase in Cash and Cash Equivalents 503,102 2,175,437
Cash and Cash Equivalents - Beginning of Period 7,842,667 4,939,955
Cash and Cash Equivalents - End of Period 8,345,769 7,115,392
Supplemental Disclosure for Cash Flow Information    
Contingent consideration 2,385,000
Issuance of common stock for purchase of Pelican 1,052,000
Interest paid $ 208,465