Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 11,129,932 $ 7,842,667
Accounts receivable 2,008 82,305
Prepaid expenses and other current assets 279,892 338,049
Total Current Assets 11,411,832 8,263,021
Property and Equipment, net 332,034 359,592
Other Assets    
Restricted cash 101,176 101,171
Deposits 69,798 69,798
Related party receivable 103,017 103,017
Total Other Assets 273,991 273,986
Total Assets 12,017,857 8,896,599
Current Liabilities    
Accounts payable 734,306 290,058
Accrued expenses and other liabilities 754,219 1,305,173
Total Current Liabilities 1,488,525 1,595,231
Long Term Liabilities    
Other long term liabilities 421,514 461,434
Total Liabilities 1,910,039 2,056,665
Commitments and Contingencies
Stockholders' Equity    
Common stock, $.0002 par value; 50,000,000 shares authorized, 34,288,790 and 26,204,390 shares issued and outstanding at March 31, 2017 (unaudited) and December 31, 2016, respectively 6,539 4,926
Additional paid-in capital 72,441,915 65,868,541
Accumulated deficit (60,194,592) (57,004,655)
Accumulated other comprehensive loss (138,606) (72,231)
Total Stockholders' Equity - Heat Biologics, Inc. 12,115,256 8,796,581
Non-Controlling Interest (2,007,438) (1,956,647)
Total Stockholders' Equity 10,107,818 6,839,934
Total Liabilities and Stockholders' Equity $ 12,017,857 $ 8,896,599
v3.7.0.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue:    
Licensing Revenue $ 24,240
Operating expenses:    
Research and development 1,812,901 3,658,008
General and administrative 1,527,015 1,031,158
Total operating expenses 3,339,916 4,689,166
Loss from operations (3,315,676) (4,689,166)
Non-operating income (expenses)    
Interest income 5,221 11,101
Other income, net 69,727 79,701
Interest expense (136,122)
Total non-operating income (expenses), net 74,948 (45,320)
Net loss (3,240,728) (4,734,486)
Net loss - non-controlling interest (50,791) (174,883)
Net loss attributable to Heat Biologics, Inc. $ (3,189,937) $ (4,559,603)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted $ (0.12) $ (0.50)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted 26,957,620 9,124,641
Other comprehensive loss:    
Net loss $ (3,240,728) $ (4,734,486)
Unrealized loss on foreign currency translation (66,375) (75,807)
Total other comprehensive loss (3,307,103) (4,810,293)
Comprehensive loss attributable to non-controlling interest (50,791) (174,883)
Comprehensive loss $ (3,256,312) $ (4,635,410)
v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (3,240,728) $ (4,734,486)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 33,113 32,361
Amortization of deferred financing costs and debt issuance costs 25,740
Amortization of held to maturity investment premium 28,009
Stock-based compensation 248,745 211,717
Increase (decrease) in cash arising from changes in assets and liabilities:    
Accounts receivable 80,555
Prepaid expenses, restricted cash and other current assets 61,606 231,553
Accounts payable 442,007 (494,277)
Accrued expenses and other liabilities (551,369) (352,563)
Other long term liabilities (39,920) 109,420
Net Cash Used in Operating Activities (2,965,991) (4,942,526)
Cash Flows from Investing Activities    
Proceeds from maturities of short-term investments 4,801,837
Purchase of property and equipment (5,555) (30,995)
Net Cash (Used in) Provided by Investing Activities (5,555) 4,770,842
Cash Flows from Financing Activities    
Proceeds from public offering, net of underwriting discounts 4,183,000 6,287,250
Proceeds from issuance of common stock, net of commission 2,357,479
Stock issuance costs (214,237) (190,768)
Payments on long term debt (806,562)
Net Cash Provided by Financing Activities 6,326,242 5,289,920
Effect of exchange rate changes on cash and cash equivalents (67,431) (82,501)
Net Increase in Cash and Cash Equivalents 3,287,265 5,035,735
Cash and Cash Equivalents - Beginning of Period 7,842,667 4,939,955
Cash and Cash Equivalents - End of Period 11,129,932 9,975,690
Supplemental Disclosure for Cash Flow Information    
Interest paid $ 110,377