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Jun 30, 2021
Scorpius Holdings Q2 2021 Earnings Report
Heat Biologics reported a net loss for the second quarter of 2021, while making progress in clinical, research, and business milestones.
Key Takeaways
Heat Biologics reported a net loss of $6.5 million, or ($0.26) per share, for the quarter ended June 30, 2021. The company had $122.5 million in cash, cash equivalents and short investments as of June 30, 2021. They recognized $0.5 million of grant revenue.
Presented favorable survival data of HS-110 in NSCLC patients at ASCO 2021.
Evaluating possible Phase 3 registration pathways with the FDA and potential partners for HS-110.
Announced the groundbreaking for a biomanufacturing/bioanalytic facility in San Antonio, TX and the expansion of R&D facilities in Morrisville, NC.
Maintained a strong balance sheet with approximately $122.5 million of cash, cash equivalents and short-term investments.
Revenue by Segment
Forward Guidance
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 on our current expectations and projections about future events.
Positive Outlook
- HS-110, in combination with a checkpoint inhibitor (CPI), holds significant potential to improve survival benefit for patients with non-small cell lung cancer
- Heat's vaccine platform can provide prevention and treatment of cancer and infectious diseases, such as COVID-19
- Heat can accelerate R&D timelines and generate cost savings on research and development by bringing more of its development activities in-house
- Heat can augment its clinical programs and enhance and expand its therapeutic pipeline
- Heat’s cash and short-term investments provide significant runway to fund Heat’s current clinical programs and further expand Heat’s therapeutic portfolio
Challenges Ahead
- The ability of HS-110, in combination with a checkpoint inhibitor (CPI), holds significant potential to improve survival benefit for patients with non-small cell lung cancer
- The ability of Heat's vaccine platform to provide prevention and treatment of cancer and infectious diseases, such as COVID-19
Historical Earnings Impact
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Avg. Return Before/After Earnings
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