HTBX on NASDAQ

Heat Biologics

US biotech company

Scorpius Holdings, Inc. (formerly known as Heat Biologics Inc.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

2008Founded1

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  • TickerHTBX on NASDAQ1
  • Industrybiotechnology1
  • HeadquartersDurham1
  • Websitewww.heatbio.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address1305 E. Houston Street, Building 2, San Antonio, Tx 782055
  • Filer categoryNon-accelerated filer, Smaller reporting company5
  • LEI549300C7CB2MWG4V3I094
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O Corporation Service Company, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 45591754

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Scorpius Holdings, Inc. (formerly known as Heat Biologics Inc. and Nighthawk Bioscienses) is a U.S. contract development and manufacturing company. Heat Biologics was founded by Jeff Wolf and Eckhard Podack, in conjunction with the University of Miami and Seed-One Ventures. The company is based in Morrisville, North Carolina.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-538.2%Operating margin7
-525.5%Net margin7
-10.7%Revenue growth, 20247
-520.8%Return on equity7
-$26.9MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue8¢$3.2M
  • Research and development37¢$14.3M
  • Selling, general and admin55¢$21.6M

Out of $6.2M in revenue.7 The company lost money this year.

Financial statements

Revenue891011127$6.2M in 2024+8% since 2018
0$2.0M$4.0M$6.0M$8.0M2018: $5.8M$5.8M20182019: $3.0M$3.0M2019−47%2020: $2.9M$2.9M2020−3%2021: $2.1M$2.1M2021−28%2022: $370.2K$370.2K2022−82%2023: $7.0M$7.0M2023+1790%2024: $6.2M$6.2M2024−11%
Operating income1391011127-$33.6M in 2024+87% since 2018
-$60.0M-$40.0M-$20.0M02018: -$18.0M-$18.0M20182019: -$20.7M-$20.7M2019+16%2020: -$26.1M-$26.1M2020+26%2021: -$35.4M-$35.4M2021+36%2022: -$40.2M-$40.2M2022+14%2023: -$42.0M-$42.0M2023+4%2024: -$33.6M-$33.6M2024−20%
Net income1391011127-$32.8M in 2024+109% since 2018
-$60.0M-$40.0M-$20.0M02018: -$15.7M-$15.7M20182019: -$20.0M-$20.0M2019+27%2020: -$26.0M-$26.0M2020+30%2021: -$35.1M-$35.1M2021+35%2022: -$43.4M-$43.4M2022+24%2023: -$45.2M-$45.2M2023+4%2024: -$32.8M-$32.8M2024−27%
Fiscal year2018201920202021202220232024
Revenue$5.8M8$3.0M9$2.9M10$2.1M11$370.2K12$7.0M7$6.2M7
Cost of revenue$81.3K12$2.7M7$3.2M7
Research and development$16.2M13$13.0M9$12.9M10$16.5M11$20.2M12$20.1M7$14.3M7
Selling, general and admin$20.1M12$26.2M7$21.6M7
Operating expenses$37.5M10$40.6M12$49.0M7$39.8M7
Operating income-$18.0M13-$20.7M9-$26.1M10-$35.4M11-$40.2M12-$42.0M7-$33.6M7
Interest
Income before tax-$35.5M11-$41.6M12-$42.3M7-$34.3M7
Income tax-$985.5K13$45.2K9-$146.0K11-$215.9K12-$571.1K7
Net income-$15.7M13-$20.0M9-$26.0M10-$35.1M11-$43.4M12-$45.2M7-$32.8M7
Earnings per share-$1.6310-$1.4111-$1.7012-$347.507-$13.047
Earnings per share (diluted)-$1.6310-$1.4111-$1.7012-$347.507-$13.047
Shares (weighted, basic)24.9M shares1125.6M shares12130.1K shares72.5M shares7
Shares (weighted, diluted)24.9M shares1125.6M shares12130.1K shares72.5M shares7

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The story

In 2008, Heat Biologics was founded by Jeff Wolf and Eckhard Podack, in conjunction with the University of Miami and Seed-One Ventures. The company relocated to North Carolina in 2011. NCBiotech provided $225,000 of initial funding the same year.

On July 24, 2013, Heat Biologics stock went public on NASDAQ under ticker symbol HTBX.

In 2017, Heat Biologics acquired an 80% controlling interest in Pelican Therapeutics.

In 2019, the company moved its headquarters to Morrisville, North Carolina.

In 2020, the Miller School of Medicine at the University of Miami collaborated with Heat Biologics to develop a COVID-19 vaccine using gp-96 to express antigens associated with COVID-19.

In 2021, Heat Biologics began Phase 2 clinical trials for a new non-small cell lung cancer treatment (HS-110). It also initiated a Phase 1 trial for HS-130, its off-the-shelf cell line engineered to stimulate T-cells to assist in immune response to disease.

The company changed its name to NightHawk Biosciences in 2022.In 2024, the company restructured, dropping its R&D efforts and shifting to a contract development and manufacturing organization.In December 2025, the company's manufacturing and development assets were sold to Tivic Health Systems.

From Wikipedia’s article on Scorpius Holdings, shared under CC BY-SA 4.0.6

Leadership

Who has led Heat Biologics, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jeffrey Alan Wolf2013–2024

Chief financial officer

  1. Matthew E. Czajkowski2013–2014
  2. Stephen J. Dipalma2015
  3. Timothy J. Creech2015
  4. William L. Ostrander2021–2022

Chief operating officer

  1. Jeff Tobin Hutchins2017–2020
2010201520202025
Board members and other officers (17)

Products and brands

HS-110

HS-110, also called viagenpumatucel-L, is in Phase II in NSCLC, in combination with cyclophosphamide. Another Phase I study is combining HS 110 with nivolumab and other checkpoint inhibitors.Development on HS-110 was halted in November 2022.

HS-130

HS-130 is in Phase I clinical trial for patients with solid tumors. HS-130 is an allogeneic (“off-the-shelf”) cell line engineered to express OX40 ligand fusion protein (OX40L-Fc). OX40 ligand is a key co-stimulator of T cells that augments antigen-specific CD8+ T cell responses.

COVID-19 Vaccine

The company initiated a COVID-19 vaccine collaboration with the University of Miami in March 2020 using their gp96 platform which activates the human immune system to combat infectious diseases with the potential of generating long-term immune responses.

PTX-35

PTX-35 was in Phase I clinical trial for patients with solid tumors. PTX-35 was a potential first-in-class T cell co-stimulator targeting TNFRSF25 (Death Receptor 3). Favorable safety profile was demonstrated in mice and non-human primates. PTX-35's development plan focused on cancer immunotherapy.Development on PTX-35 was halted in November 2022.

From Wikipedia’s article on Scorpius Holdings, shared under CC BY-SA 4.0.6

Former names

  • NightHawk Biosciences, Inc.May 3, 2022 to Jan 30, 20245
  • HEAT BIOLOGICS, INC.Nov 18, 2009 to Apr 25, 20225

Timeline

  1. Jul 24, 2013Went public Listed on NASDAQ1
  2. Jul 23, 2013New chief executive Jeffrey Alan Wolf becomes CEO17
  3. 2008Founded Founded1

Filings

225 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 113 major events, 16 insider forms, 13 large holders, 3 private raises, 63 other. The latest 20:

  1. Apr 24, 20268-K EDGAR
  2. Apr 8, 20268-K EDGAR
  3. Mar 19, 20268-K EDGAR
  4. Mar 10, 20268-K/A EDGAR
  5. Feb 17, 202610-Q EDGAR
  6. Feb 5, 2026SCHEDULE 13G/A EDGAR
  7. Jan 29, 20268-K EDGAR
  8. Jan 13, 20268-K EDGAR
  9. Jan 12, 202610-Q EDGAR
  10. Dec 3, 20258-K EDGAR
  11. Dec 2, 20258-K EDGAR
  12. Nov 25, 20258-K EDGAR
  13. Nov 18, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  14. Nov 17, 20258-K EDGAR
  15. Nov 12, 2025SCHEDULE 13G/A EDGAR
  16. Oct 21, 20258-K EDGAR
  17. Oct 8, 20258-K EDGAR
  18. Oct 1, 20258-K EDGAR
  19. Sep 24, 20258-K EDGAR
  20. Sep 19, 20258-K EDGAR

The 225 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • 3i, LPSCHEDULE 13G/A, 6 filings Sep 26, 2024 to Feb 5, 202639
  • Ramnarain Joseph JaigobindSC 13G, 1 filing Sep 6, 202440
  • Jeffrey Alan WolfSC 13D/A, 6 filings Dec 16, 2021 to May 21, 202441

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Feb 12, 2025Raised $1 million in a private offering of debt Form D: 1 investor so far Form D
  2. Jan 30, 2025Raised $600,000 in a private offering of debt Form D: 1 investor so far Form D
  3. Dec 6, 2024Raised $13.4 million in a private offering of debt Form D: 2 investors so far Form D

Sources

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