Financials

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 8,464,635 $ 4,939,955
Investments, held to maturity (net) 6,689,643
Accounts receivable 131,842
Prepaid expenses and other current assets 528,964 869,158
Total Current Assets 9,125,441 12,498,756
Property and Equipment, net 392,895 445,733
Other Assets    
Restricted cash 101,166 101,151
Deposits 69,798 69,798
Related party receivable 103,017 58,017
Deferred financing costs 21,600
Total Other Assets 273,981 250,566
Total Assets 9,792,317 13,195,055
Current Liabilities    
Accounts payable 501,225 1,980,676
Accrued expenses and other liabilities 830,173 1,846,907
Current portion of long term debt 2,040,979 3,133,958
Total Current Liabilities 3,372,377 6,961,541
Long Term Liabilities    
Long term debt, net of discount and current portion 839,560 3,589,036
Other long term liabilities 439,248 149,748
Total Liabilities 4,651,185 10,700,325
Commitments and Contingencies
Stockholders' Equity    
Common stock, $0.0002 par value; 50,000,000 shares authorized, 22,202,465 and 8,424,641 shares issued and outstanding at September 30, 2016 (unaudited) and December 31, 2015, respectively 4,124 1,366
Additional paid-in capital 60,704,297 48,566,451
Accumulated deficit (53,532,473) (44,430,703)
Accumulated other comprehensive loss (149,545) (86,584)
Total Stockholders' Equity- Heat Biologics, Inc. 7,026,403 4,050,530
Non-Controlling Interest (1,885,271) (1,555,800)
Total Stockholders' Equity 5,141,132 2,494,730
Total Liabilities and Stockholders' Equity $ 9,792,317 $ 13,195,055
v3.5.0.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Licensing revenue $ 220,233 $ 220,233
Operating expenses:        
Research and development 559,177 677,151 1,514,257 1,767,942
Clinical and regulatory 1,133,956 3,718,902 5,613,209 9,261,529
General and administrative 820,574 947,392 2,935,030 3,150,394
Total operating expenses 2,513,707 5,343,445 10,062,496 14,179,865
Loss from operations (2,293,474) (5,343,445) (9,842,263) (14,179,865)
Interest income 5,445 20,121 24,400 49,970
Other income, net 734,509 4,449 757,044 29,909
Interest expense (110,468) (108,834) (370,422) (257,339)
Total non-operating income (expenses), net 629,486 (84,264) 411,022 (177,460)
Net loss (1,663,988) (5,427,709) (9,431,241) (14,357,325)
Net loss - non-controlling interest (47,042) (242,244) (329,471) (549,190)
Net loss attributable to Heat Biologics, Inc. $ (1,616,946) $ (5,185,465) $ (9,101,770) $ (13,808,135)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted $ (0.08) $ (0.62) $ (0.59) $ (1.75)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted 19,420,026 8,408,376 15,371,267 7,880,637
Other comprehensive loss:        
Net loss $ (1,663,988) $ (5,427,709) $ (9,431,241) $ (14,357,325)
Unrealized loss on foreign currency translation (36,387) (27,244) (62,961) (64,238)
Total other comprehensive loss (1,700,375) (5,454,953) (9,494,202) (14,421,563)
Comprehensive loss attributable to non-controlling interest (47,042) (242,244) (329,471) (549,190)
Comprehensive loss $ (1,653,333) $ (5,212,709) $ (9,164,731) $ (13,872,373)
v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net loss $ (9,431,241) $ (14,357,325)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 98,774 84,373
Amortization of deferred financing costs and debt issuance costs 77,231 75,818
Amortization of held to maturity investment premium 32,733 102,618
Stock-based compensation 460,505 1,046,086
Increase (decrease) in cash arising from changes in assets and liabilities:    
Prepaid expenses, restricted cash and other current assets 261,700 (157,440)
Deposits (50,000)
Related party receivable (45,000) (9,375)
Accounts payable (1,485,735) (385,161)
Accrued expenses and other liabilities (1,030,413) 1,260,355
Other long term liabilities 289,500 12,228
Net Cash Used in Operating Activities (10,771,946) (12,377,823)
Cash Flows from Investing Activities    
Proceeds from maturities of short-term investments 6,656,910 14,943,468
Purchases of short term investments (11,090,091)
Purchase of property and equipment (45,936) (106,838)
Net Cash Provided by Investing Activities 6,610,974 3,746,539
Cash Flows from Financing Activities    
Proceeds from public offering, net of underwriting discounts 6,287,250 11,400,870
Proceeds from issuance of common stock, net of commission 3,027,677
Proceeds from exercise of warrants 2,773,982
Stock issuance costs (387,210) (302,461)
Proceeds from long term debt 2,242,575
Payments on long term debt (3,919,686) (145,161)
Net Cash Provided by Financing Activities 7,782,013 13,195,823
Effect of exchange rate changes on cash and cash equivalents (96,361) (67,905)
Net Increase in Cash and Cash Equivalents 3,524,680 4,496,634
Cash and Cash Equivalents - Beginning of Period 4,939,955 3,714,304
Cash and Cash Equivalents - End of Period 8,464,635 8,210,938
Supplemental Disclosure for Cash Flow Information    
Interest paid $ 293,189 $ 257,339