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Heat Biologics has appointed Greg Burel to its Biothreat Advisory Board as a senior advisor, enhancing its biodefense initiatives, particularly for anthrax and the RapidVax™ platform. Burel, with nearly 38 years of federal service, previously directed the Strategic National Stockpile, emphasizing the urgent need for effective biological threat responses. CEO Jeff Wolf highlighted Burel's experience in public health threats, which will bolster Heat’s biodefense portfolio. The company is focused on developing therapies to modulate the immune system through its innovative gp96 platform.
Heat Biologics (HTBX) provided significant updates for 2021, showcasing its evolution towards a fully-integrated biopharmaceutical company. The company presented promising data for HS-110 at AACR for non-small cell lung cancer and is pursuing FDA meetings for trial feedback. Financially, HTBX reported $2.1M in grant revenue, a decrease from $2.9M in 2020, while R&D expenses rose to $18.8M from $12.9M. The net loss was approximately $35.1M, improving on a per-share basis compared to 2020. The firm is also advancing its merger with Elusys Therapeutics to bolster its biodefense capabilities.
Heat Biologics, Inc. (NASDAQ: HTBX) plans to transfer its listing from the Nasdaq Capital Market to the NYSE American stock exchange, effective February 14, 2022. Chairman and CEO Jeff Wolf expressed confidence that the move will enhance the company's visibility and benefit shareholders. Heat is dedicated to developing first-in-class therapies to modulate the immune system, utilizing its proprietary gp96 platform. Currently, multiple product candidates are in various stages of development, including HS-110, which has completed enrollment in a Phase 2 trial.
Elusys Therapeutics has finalized a $50 million contract with the U.S. Department of Health and Human Services for the supply of ANTHIM (obiltoxaximab), an anthrax antitoxin. The contract includes options for an additional $31 million, potentially bringing the total to $80.8 million, with completion expected by mid-2023. ANTHIM is crucial for U.S. biodefense against anthrax attacks and is indicated for treating and preventing inhalational anthrax. Elusys will merge with Heat Biologics, with the acquisition expected to close in Q1 2022, subject to standard conditions.
Heat Biologics (NASDAQ: HTBX) announced that new preclinical data for PTX-35 suggests its potential in enhancing organ transplantation outcomes by expanding regulatory T cells (Tregs). A single dose of the preclinical version was shown to improve graft survival and partially reverse chemically induced pancreatic failure. The findings may enable reduced post-transplant immunosuppression. Jeff Wolf, CEO, highlighted ongoing progress with HS-110 and anticipated regulatory discussions with the FDA regarding Phase 3 pathways.
Heat Biologics (NASDAQ: HTBX) has signed a definitive merger agreement to acquire Elusys Therapeutics, known for its ANTHIM® (obiltoxaximab) Injection, intended to strengthen Heat's biodefense portfolio. The acquisition, expected to finalize in Q1 2022, allows Heat to expand its infectious disease product offerings and leverage Elusys's $350 million in government contracts. Following this merger, Elusys will operate as a wholly owned subsidiary, maintaining its existing government partnerships for ANTHIM supply.
Heat Biologics (NASDAQ: HTBX) recently presented its new RapidVax cellular vaccine platform at the 2021 World Antiviral Congress. This innovative platform is designed for rapid programming and deployment against various biological threats, including COVID-19 variants like Omicron. RapidVax aims to shorten the development timeline of vaccines, leveraging the immune-activating properties of heat shock protein gp96. The company has treated over 250 patients with its gp96 platform and is advancing its pipeline of immunotherapies, including several in clinical trials.
Heat Biologics (NASDAQ: HTBX) reported its third-quarter 2021 updates, highlighting progress in clinical trials and a new biosecurity initiative. The company expanded its Phase 1 trial for monoclonal antibody PTX-35 and is preparing for an end of Phase 2 meeting with the FDA for HS-110. Financially, the company recognized $0.5 million in grant revenue, a decrease from $0.8 million year-over-year. R&D expenses rose to $4.4 million, while G&A expenses dropped to $3.4 million. Net loss improved to $7.4 million from $8.9 million YoY. The company had $108.9 million in cash reserves.
Heat Biologics, a clinical-stage biopharmaceutical company (NASDAQ: HTBX), has appointed Paul Tebbey, Ph.D., as Senior Vice President of Product Development and Portfolio Strategy. With over 25 years of experience at firms like Abbvie and Pfizer, Dr. Tebbey brings extensive expertise in drug development, including monoclonal antibodies and vaccines. CEO Jeff Wolf expressed confidence that Dr. Tebbey's track record will advance Heat's clinical programs and R&D initiatives. Heat's platform targets immune modulation, with ongoing projects in oncology and infectious diseases.
Heat Biologics, a clinical-stage biopharmaceutical firm, has announced that CEO Jeff Wolf will present at the Cantor Fitzgerald Global Healthcare Conference from September 27-30, 2021. The presentation is scheduled for September 29 at 9:20 AM ET. Heat Biologics focuses on developing innovative therapies to modulate the immune system, utilizing its proprietary gp96 platform, which activates immune responses against cancer and infectious diseases. The company is advancing several candidates, including HS-110 in Phase 2 trials and additional products in various stages of development.
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