Heat Biologics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

Net Loss Per Share

9 Months Ended

Sep. 30, 2020

11. Net Loss Per Share

Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the periods. Fully diluted net loss per common share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the periods. Common equivalent shares consist of stock options and warrants that are computed using the treasury stock method.

For the quarters ended September 30, 2020 and 2019, all of the Company’s common stock options, unvested restricted stock units and warrants are anti-dilutive and therefore have been excluded from the diluted calculation.

The following table reconciles net loss to net loss attributable to Heat Biologics, Inc.:


	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Net loss	$	(8,916,433)	$	(6,330,913)	$	(19,826,671)	$	(17,094,899)
Net loss - Non-controlling interest		(64,824)		(136,315)		(228,526)		(413,955)
Net loss attributable to Heat Biologics, Inc.	$	(8,851,609)	$	(6,194,598)	$	(19,598,145)	$	(16,680,944)

Weighted-average number of common shares used in net loss per share attributable to common stockholders —basic and diluted		143,728,870		33,650,829		96,481,271		33,255,535
Net loss per share attributable to Heat Biologics, Inc —basic and diluted	$	(0.06)	$	(0.18)	$	(0.20)	$	(0.50)

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share in the three and nine months ended September 30, 2020 and 2019 due to their anti-dilutive effect:


	2020	2019
Outstanding stock options	9,156,865	3,163,354
Restricted stock subject to forfeiture and restricted stock units	2,025,215	838,429
Outstanding common stock warrants	5,739,064	9,030,730