Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 4,288,627 $ 7,842,667
Accounts receivable 1,427 82,305
Prepaid expenses and other current assets 1,935,558 338,049
Total Current Assets 6,225,612 8,263,021
Property and Equipment, net 320,015 359,592
Other Assets    
Restricted cash 2,292 101,171
In-process R&D 5,866,000
Goodwill 2,189,338
Deposits 69,798 69,798
Deferred financing costs 46,340
Related party receivable 103,017
Total Other Assets 8,173,768 273,986
Total Assets 14,719,395 8,896,599
Current Liabilities    
Accounts payable 1,214,224 290,058
Deferred revenue 938,388
Accrued expenses and other liabilities 994,964 1,305,173
Total Current Liabilities 3,147,576 1,595,231
Long Term Liabilities    
Other long term liabilities 449,970 461,434
Deferred tax liability 2,111,760
Contingent consideration 2,385,000
Total Liabilities 8,094,306 2,056,665
Commitments and Contingencies  
Stockholders' Equity    
Common stock, $.0002 par value; 50,000,000 shares authorized, 35,788,912 and 26,204,390 shares issued and outstanding at September 30, 2017 (unaudited) and December 31, 2016, respectively 6,841 4,926
Additional paid-in capital 73,871,510 65,868,541
Accumulated deficit (65,714,314) (57,004,655)
Accumulated other comprehensive loss (172,973) (72,231)
Total Stockholders' Equity-Heat Biologics, Inc. 7,991,064 8,796,581
Non-Controlling Interest (1,365,975) (1,956,647)
Total Stockholders' Equity 6,625,089 6,839,934
Total Liabilities and Stockholders' Equity $ 14,719,395 $ 8,896,599
v3.8.0.1
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue:        
Grant and licensing revenue $ 470,823 $ 220,233 $ 906,313 $ 220,233
Operating expenses:        
Research and development 1,823,922 1,693,133 5,788,755 7,127,466
General and administrative 1,188,476 820,574 4,298,072 2,935,030
Total operating expenses 3,012,398 2,513,707 10,086,827 10,062,496
Loss from operations (2,541,575) (2,293,474) (9,180,514) (9,842,263)
Interest income 5,629 5,445 17,316 24,400
Other income, net 31,768 734,509 109,211 757,044
Interest expense (110,468) (370,422)
Total non-operating income, net 37,397 629,486 126,527 411,022
Net loss (2,504,178) (1,663,988) (9,053,987) (9,431,241)
Net loss - non-controlling interest (203,371) (47,042) (344,328) (329,471)
Net loss attributable to Heat Biologics, Inc. $ (2,300,807) $ (1,616,946) $ (8,709,659) $ (9,101,770)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted $ (0.06) $ (0.08) $ (0.27) $ (0.59)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted 35,786,606 19,420,026 32,695,360 15,371,267
Other comprehensive loss:        
Net loss $ (2,504,178) $ (1,663,988) $ (9,053,987) $ (9,431,241)
Unrealized loss on foreign currency translation (24,707) (36,387) (100,742) (62,961)
Total other comprehensive loss (2,528,885) (1,700,375) (9,154,729) (9,494,202)
Comprehensive loss attributable to non-controlling interest (203,371) (47,042) (344,328) (329,471)
Comprehensive loss $ (2,325,514) $ (1,653,333) $ (8,810,401) $ (9,164,731)
v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
Net loss $ (9,053,987) $ (9,431,241)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 100,958 98,774
Amortization of deferred financing costs and debt issuance costs 77,231
Amortization of held to maturity investment premium 32,733
Stock-based compensation 546,321 460,505
Increase (decrease) in cash arising from changes in assets and liabilities:    
Accounts receivable 81,185
Prepaid expenses and other current assets (1,592,084) 261,700
Related party receivable (45,000)
Restricted cash 98,879
Deferred financing costs (46,340)
Accounts payable 4,179 (1,485,735)
Deferred revenue 938,388
Accrued expenses and other liabilities (475,350) (1,030,413)
Other long term liabilities (11,464) 289,500
Net Cash Used in Operating Activities (9,409,315) (10,771,946)
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 (61,382) (45,936)
Net Cash (Used in) Provided by Investing Activities (530,183) 6,610,974
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 2,463,180 3,027,677
Stock issuance costs (239,617) (387,210)
Payments on long term debt (3,919,686)
Proceeds from exercise of warrants 2,773,982
Net Cash Provided by Financing Activities 6,406,563 7,782,013
Effect of exchange rate changes on cash and cash equivalents (21,105) (96,361)
Net (Decrease) Increase in Cash and Cash Equivalents (3,554,040) 3,524,680
Cash and Cash Equivalents - Beginning of Period 7,842,667 4,939,955
Cash and Cash Equivalents - End of Period 4,288,627 8,464,635
Supplemental Disclosure for Cash Flow Information    
Contingent consideration 2,385,000
Issuance of common stock for purchase of Pelican 1,052,000
Interest paid $ 293,189