Scorpius (SCPX) 10-Q 10 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 09, 2016
Document And Entity Information
Entity Registrant Name	HEAT BIOLOGICS, INC.
Entity Central Index Key	1,476,963
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		23,883,373
Trading Symbol	HTBX
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 8,464,635	$ 4,939,955
Investments, held to maturity (net)		6,689,643
Accounts receivable	131,842
Prepaid expenses and other current assets	528,964	869,158
Total Current Assets	9,125,441	12,498,756
Property and Equipment, net	392,895	445,733
Other Assets
Restricted cash	101,166	101,151
Deposits	69,798	69,798
Related party receivable	103,017	58,017
Deferred financing costs		21,600
Total Other Assets	273,981	250,566
Total Assets	9,792,317	13,195,055
Current Liabilities
Accounts payable	501,225	1,980,676
Accrued expenses and other liabilities	830,173	1,846,907
Current portion of long term debt	2,040,979	3,133,958
Total Current Liabilities	3,372,377	6,961,541
Long Term Liabilities
Long term debt, net of discount and current portion	839,560	3,589,036
Other long term liabilities	439,248	149,748
Total Liabilities	4,651,185	10,700,325
Commitments and Contingencies
Stockholders' Equity
Common stock, $0.0002 par value; 50,000,000 shares authorized, 22,202,465 and 8,424,641 shares issued and outstanding at September 30, 2016 (unaudited) and December 31, 2015, respectively	4,124	1,366
Additional paid-in capital	60,704,297	48,566,451
Accumulated deficit	(53,532,473)	(44,430,703)
Accumulated other comprehensive loss	(149,545)	(86,584)
Total Stockholders' Equity- Heat Biologics, Inc.	7,026,403	4,050,530
Non-Controlling Interest	(1,885,271)	(1,555,800)
Total Stockholders' Equity	5,141,132	2,494,730
Total Liabilities and Stockholders' Equity	$ 9,792,317	$ 13,195,055

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.0002	$ 0.0002
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,202,465	8,424,641
Common stock, shares outstanding	22,202,465	8,424,641

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue:
Licensing revenue	$ 220,233		$ 220,233
Operating expenses:
Research and development	559,177	677,151	1,514,257	1,767,942
Clinical and regulatory	1,133,956	3,718,902	5,613,209	9,261,529
General and administrative	820,574	947,392	2,935,030	3,150,394
Total operating expenses	2,513,707	5,343,445	10,062,496	14,179,865
Loss from operations	(2,293,474)	(5,343,445)	(9,842,263)	(14,179,865)
Interest income	5,445	20,121	24,400	49,970
Other income, net	734,509	4,449	757,044	29,909
Interest expense	(110,468)	(108,834)	(370,422)	(257,339)
Total non-operating income (expenses), net	629,486	(84,264)	411,022	(177,460)
Net loss	(1,663,988)	(5,427,709)	(9,431,241)	(14,357,325)
Net loss - non-controlling interest	(47,042)	(242,244)	(329,471)	(549,190)
Net loss attributable to Heat Biologics, Inc.	$ (1,616,946)	$ (5,185,465)	$ (9,101,770)	$ (13,808,135)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted	$ (0.08)	$ (0.62)	$ (0.59)	$ (1.75)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted	19,420,026	8,408,376	15,371,267	7,880,637
Other comprehensive loss:
Net loss	$ (1,663,988)	$ (5,427,709)	$ (9,431,241)	$ (14,357,325)
Unrealized loss on foreign currency translation	(36,387)	(27,244)	(62,961)	(64,238)
Total other comprehensive loss	(1,700,375)	(5,454,953)	(9,494,202)	(14,421,563)
Comprehensive loss attributable to non-controlling interest	(47,042)	(242,244)	(329,471)	(549,190)
Comprehensive loss	$ (1,653,333)	$ (5,212,709)	$ (9,164,731)	$ (13,872,373)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($)	Common Stock [Member]	APIC [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Non-Controlling Interest [Member]	Total
Balance at Dec. 31, 2015	$ 1,366	$ 48,566,451	$ (44,430,703)	$ (86,584)	$ (1,555,800)	$ 2,494,730
Public offering, 9,100,000 shares, net of underwriters' discounts	1,820	6,285,430				6,287,250
Exercise of warrants, 2,773,982 shares	555	2,773,427				2,773,982
Issuance of common stock, 1,898,842 shares	380	3,027,297				3,027,677
Stock issuance costs		(408,810)				(408,810)
Stock-based compensation	3	460,502				460,505
Other comprehensive loss				(62,961)		(62,961)
Net loss			(9,101,770)		(329,471)	(9,431,241)
Balance at Sep. 30, 2016	$ 4,124	$ 60,704,297	$ (53,532,473)	$ (149,545)	$ (1,885,271)	$ 5,141,132

Consolidated Statements of Sto6

Consolidated Statements of Stockholders' Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2016shares
Statement of Stockholders' Equity [Abstract]
Public offering, shares	9,100,000
Exercise of warrants, shares	2,773,982
Issuance of common stock, shares	1,898,842

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities
Net loss	$ (9,431,241)	$ (14,357,325)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	98,774	84,373
Amortization of deferred financing costs and debt issuance costs	77,231	75,818
Amortization of held to maturity investment premium	32,733	102,618
Stock-based compensation	460,505	1,046,086
Increase (decrease) in cash arising from changes in assets and liabilities:
Prepaid expenses, restricted cash and other current assets	261,700	(157,440)
Deposits		(50,000)
Related party receivable	(45,000)	(9,375)
Accounts payable	(1,485,735)	(385,161)
Accrued expenses and other liabilities	(1,030,413)	1,260,355
Other long term liabilities	289,500	12,228
Net Cash Used in Operating Activities	(10,771,946)	(12,377,823)
Cash Flows from Investing Activities
Proceeds from maturities of short-term investments	6,656,910	14,943,468
Purchases of short term investments		(11,090,091)
Purchase of property and equipment	(45,936)	(106,838)
Net Cash Provided by Investing Activities	6,610,974	3,746,539
Cash Flows from Financing Activities
Proceeds from public offering, net of underwriting discounts	6,287,250	11,400,870
Proceeds from issuance of common stock, net of commission	3,027,677
Proceeds from exercise of warrants	2,773,982
Stock issuance costs	(387,210)	(302,461)
Proceeds from long term debt		2,242,575
Payments on long term debt	(3,919,686)	(145,161)
Net Cash Provided by Financing Activities	7,782,013	13,195,823
Effect of exchange rate changes on cash and cash equivalents	(96,361)	(67,905)
Net Increase in Cash and Cash Equivalents	3,524,680	4,496,634
Cash and Cash Equivalents - Beginning of Period	4,939,955	3,714,304
Cash and Cash Equivalents - End of Period	8,464,635	8,210,938
Supplemental Disclosure for Cash Flow Information
Interest paid	$ 293,189	$ 257,339

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting. However, certain information or footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed, or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company’s management, the unaudited consolidated financial statements in this Quarterly Report on Form 10-Q include all normal and recurring adjustments necessary for the fair statement of the results for the interim periods presented. The results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2016. The consolidated financial statements as of and for the three and nine months ended September 30, 2016 and 2015 included in this Quarterly Report on Form 10-Q are unaudited. The balance sheet as of December 31, 2015 is derived from the audited consolidated financial statements as of that date. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 18, 2016 (the “2015 Annual Report”). The accompanying consolidated financial statements as of and for the three and nine months ended September 30, 2016 and 2015 include the accounts of Heat Biologics, Inc. and its subsidiaries, Heat Biologics I, Inc. (“Heat I”), Heat Biologics III, Inc. (“Heat III”), Heat Biologics IV, Inc. (“Heat IV”), Heat Biologics GmbH and Heat Biologics Australia Pty Ltd. The functional currency of the entities located outside the United States is the applicable local currency (the foreign entities). Assets and liabilities of the foreign entities are translated at period-end exchange rates. The statement of operations accounts are translated at the average exchange rate during the period. The effects of foreign currency translation adjustments are included in other comprehensive loss, which is a component of accumulated other comprehensive loss in stockholders’ equity. All significant intercompany accounts and transactions have been eliminated in consolidation. At September 30, 2016 and December 31, 2015, the Company held a 92.5% controlling interest in Heat I and accounts for its less than 100% interest in the consolidated financial statements in accordance with U.S. GAAP. Accordingly, the Company presents non-controlling interests as a component of stockholders’ equity on its consolidated balance sheets and reports non-controlling interest net loss under the heading “Net Loss – non-controlling interest” in the consolidated statements of operations and comprehensive loss. The accompanying consolidated financial statements have been prepared on a going concern basis. The Company has an accumulated deficit of approximately $53.5 million as of September 30, 2016 and a net loss of approximately $9.4 million for the nine months ended September 30, 2016, and has not generated significant revenue or positive cash flows from operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the audited financial statements are issued. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might result from the outcome of this uncertainty. To meet its capital needs, the Company is considering multiple alternatives, including, but not limited to, additional equity financings (including through the “at-the-market” Issuance Sales Agreement (the “FBR Sales Agreement”) that it entered into with FBR Capital Markets & Co. (“FBR”) in August 2016), debt financings, partnerships, collaborations and other funding transactions. There can be no assurance that the Company will be able to meet the requirements for use of the FBR Sales Agreement or to complete any such transactions on acceptable terms or otherwise. On April 1, 2016, the Company implemented a cost-savings plan and focused corporate strategy involving reductions in headcount as well as a deferral of a portion of annual base salaries for the Company’s leadership team to decrease operating costs. These cost-saving measures are intended to significantly reduce the Company’s cost structure and scale the organization appropriately for its current goals. The Company has, and plans to continue to, direct its resources primarily to enable the completion of its Phase 2 clinical trial of HS-410 for the treatment of non-muscle invasive bladder cancer (NMIBC) and to advance the Phase 1b trial evaluating HS-110 in combination with nivolumab, a Bristol-Myers Squibb PD-1 checkpoint inhibitor, for the treatment of non-small cell lung cancer (NSCLC). The Company has sufficient cash and cash equivalents to fund its clinical trials until the HS-410 Phase 2 data is released. If the Company is unable to obtain the necessary capital required to maintain operations, it will need to pursue a plan to license or sell its assets, seek to be acquired by another entity and/or cease operations. Revenue Recognition The Company recognizes revenues from license or research and research and development agreements when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. For revenue agreements with multiple-element arrangements, the Company allocates revenue to each non-contingent element based on the relative selling price of each element. When applying the relative selling price method, the Company determines the selling price for each deliverable by first using vendor-specific objective evidence, if available, and then third-party evidence. If neither exists, the Company uses its best estimate of selling price for that deliverable. Revenue allocated to an element is then recognized when the four basic revenue recognition criteria are met. Revenue associated with nonrefundable upfront license fees under arrangements where the license fees and research and development activities cannot be accounted for as separate units of accounting is deferred and recognized as revenue on a straight-line basis over the expected period of performance. Revenues from the achievement of research and development milestones, if deemed substantive, are recognized as revenue when the milestones are achieved and the milestone payments are due and collectible. If not deemed substantive, the Company recognizes such milestones as revenue on a straight-line basis over the remaining expected performance period under the arrangement. Milestones are considered substantive if all of the following conditions are met: (1) the milestone is nonrefundable; (2) achievement of the milestone was not reasonably assured at the inception of the arrangement; (3) substantive effort is involved to achieve the milestone; and (4) the amount of the milestone appears reasonable in relation to the effort expended, and the other milestones in the arrangement and the related risk associated with the achievement of the milestone and any ongoing research and development or other services are priced at fair value. Revenue related to research and development grants is recognized when the related research expenses are incurred and the Company’s specific performance obligations under the terms of the respective contracts are satisfied. Revenue recognized in the consolidated statement of operations is not subject to repayment. Recently Issued Accounting Pronouncements In August 2016, FASB issued ASU) No. 2016-15, Statement of Cash Flows (Topic 230). The guidance is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The effective date for the standard for public entities is for fiscal years beginning after December 15, 2017. Early adoption is permitted, provided all amendments are adopted in the same period. The guidance requires application using a retrospective transition method. We do not anticipate ASU 2016-15 to have a material impact to our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements or related footnote disclosures In February 2016, the FASB issued ASU No. 2016-02, Leases Leases The Company does not expect this guidance will have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements or related footnote disclosures In April 2015, the FASB issued ASU No. 2015-03, Interest Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09),

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Of Financial Instruments
Fair Value of Financial Instruments	2. Fair Value of Financial Instruments The carrying amount of certain of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts payable and accrued expenses and other payables approximate fair value due to their short maturities. The carrying value of debt approximates fair value because the interest rate under the obligation approximates market rates of interest available to the Company for similar instruments. As a basis for determining the fair value of certain of the Company’s financial instruments, the Company utilizes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level I – Observable inputs such as quoted prices in active markets for identical assets or liabilities. Level II – Observable inputs, other than Level I prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level III – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. The majority of the Company's cash equivalents and investments are classified within Level II of the fair value hierarchy.

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments Investments in certain securities may be classified into three categories: · Held-to-maturity - · Trading securities - · Available-for-sale - The Company reassesses the appropriateness of the classification of its investments at the end of each reporting period. The Company held its debt securities until the securities reached their maturity dates and as of September 30, 2016 the Company no longer holds debt securities. As of December 31, 2015 the Company held short term investments which consisted of short-term FDIC insured certificates of deposit, tri-party repurchase agreement (“repo”) collateralized by U.S. Treasuries and agencies and corporate notes and bonds rated A and above which were carried at amortized cost using the effective interest method. The following table summarizes information about short term investments at September 30, 2016 and December 31, 2015, respectively: Amortized Gross Estimated September 30, 2016 Certificates of deposit, tri-party repurchase agreement, corporate notes and bonds $ — $ — $ — December 31, 2015 Certificates of deposit, tri-party repurchase agreement, corporate notes and bonds $ 6,689,643 $ (4,948 ) $ 6,684,695

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives, ranging generally from five to seven years. Expenditures for maintenance and repairs are charged to expense as incurred. Property and equipment consisted of the following: September 30, 2016 December 31, Lab equipment $ 587,367 $ 541,065 Furniture and fixtures 55,883 55,883 Computers 38,902 40,545 Total 682,152 637,493 Accumulated depreciation (289,257 ) (191,760 ) Property and equipment, net $ 392,895 $ 445,733 Depreciation expense was $98,774 and $84,373 for the nine months ended September 30, 2016 and 2015, respectively.

Accrued Expenses and other paya

Accrued Expenses and other payables	9 Months Ended
	Sep. 30, 2016
Accrued Liabilities, Current [Abstract]
Accrued Expenses and other payables	5. Accrued Expenses and other payables On April 1, 2016, the Board approved a cost-savings plan and focused corporate strategy involving reductions in headcount to decrease operating costs. Accrued expenses and other payables consist of the following: September 30, December 31, Accrued clinical trial expenses $ 550,599 $ 1,192,936 Compensation and related benefits 198,974 561,082 Deferred rent 45,600 52,889 Patent fees 35,000 40,000 $ 830,173 $ 1,846,907

Debt Issuance Costs

Debt Issuance Costs	9 Months Ended
	Sep. 30, 2016
Debt Issuance Costs
Debt Issuance Costs	6. Debt Issuance Costs During 2014, the Company recorded $323,021 to debt discount for the initial fair value of the warrant to purchase common stock and $27,500 to deferred financing costs related to third party fees paid in connection with the Square 1 Bank loan, which are amortized on a straight-line basis over the 42 month term of the loan which approximates the effective interest method. During 2015, deferred financing costs increased $7,425 to reflect the fees related to the third tranche of the Square 1 loan, which is further discussed in footnote 7. Total amortization expense for the debt issuance costs was $77,231 and $75,818 during the nine months ended September 30, 2016 and 2015, respectively.

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Notes Payable	7. Notes Payable Square 1 Bank Loan In August 2014, the Company entered into a secured loan (the “Loan”) with Square 1 Bank, which loan is held by Pacific Western Bank as successor in interest by merger to Square 1 Bank (the “Bank”). The Loan provided to the Company was a term loan in the aggregate principal amount not to exceed $7.5 million to be used to supplement working capital. The Loan was available to the Company in four tranches: $1.5 million was made available to the Company on August 22, 2014 (“Tranche 1 Loan”), $1.5 million was made available to the Company upon enrollment of the first patient in its Phase 2 clinical trial for HS-110 on December 30, 2014 (“Tranche 2 Loan”), $2.25 million was made available to the Company upon the initiation of the Phase 1b trial for lung cancer indication on June 30, 2015 (“Tranche 3 Loan”), and $2.25 million was made available to the Company upon the Bank’s receipt of evidence on December 30, 2015 of the full enrollment of our Phase 1/2 clinical trial for HS-410 (“Tranche 4 Loan”). At December 31, 2015, the Company had drawn down the entire $7.5 million available under the Loan. The Loan accrues interest monthly at an interest rate of 3.05% plus the prime rate, or 6.30% per annum, whichever is greater. The Tranche 1 Loan was payable as interest-only until June 30, 2015 and thereafter is payable in monthly installments of principal plus accrued interest until February 22, 2018. The Tranche 2 Loan was payable as interest-only prior to October 31, 2015 and thereafter is payable in monthly installments of principal plus accrued interest until February 22, 2018. The Tranche 3 Loan was payable as interest-only prior to October 31, 2015 and thereafter is payable in monthly installments of principal plus accrued interest until February 22, 2018. The Tranche 4 Loan is payable in monthly installments of principal plus accrued interest until February 22, 2018. In September 2016, the Company paid down an additional $1.5 million in principal in consideration that the Company no longer be required to achieve the DURGA Clinical Trial Milestone. Due to the additional $1.5 million principal payment in September 30, 2016 the Tranche 1 Loan, which had a principal balance of $0.8 million, was paid in full and the remaining $0.7 million of the additional $1.5 million principal payment was applied to pay down the Tranche 2 Loan. The Company has made $2.3 million and $3.9 million in principal payments for the three and nine month periods ended September 30, 2016, respectively and $145,161 for both periods in 2015, respectively. The Company has made $84,724 and $293,189 in interest payments on the outstanding loan for the three and nine-month periods ended September 30, 2016, respectively and $83,090 and $181,520 for the same periods in 2015, respectively. The agreement with the Bank sets forth various affirmative and negative covenants. The failure of the Company to comply with one or more of the covenants constitutes a default under the Loan. The covenants were amended in February 2016 to include the following: (i) the Company on or before September 30, 2016, having enrolled at least 18 patients in the Company’s DURGA (HS-110) clinical trial; (ii) the Company on or before December 31, 2016, having received favorable data readout from the Phase 2 randomized trial arms evaluating the Company’s HS-410 product; and (iii) after December 31, 2016, the Bank and the Company setting additional milestone covenants based upon a Board-approved plan of the Company sufficient to fund the operations necessary to achieve such milestones. In consideration for the additional $1.5 million principal payment in September 2016, the Bank agreed that the Company will no longer be required to achieve the DURGA Clinical Trial Milestone on or before September 30, 2016. The Loan also includes covenants regarding financial reporting, limits on the Company’s cash burn, incurrence of indebtedness, permitted investments, encumbrances, distributions, investments and mergers and acquisitions. The Loan is also secured by a security interest in all of the Company’s personal property, excluding its intellectual property. The Company is in compliance with the covenants of the Loan as of September 30, 2016.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Stock-based Compensation [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation Restricted Stock During the three and nine month periods ended September 30, 2016, the Company recognized $14,579 and $17,496 in share-based compen sation expense related to issuance of shares of restricted stock to non-employees (i.e., consultants) in exchange for services . During the three and nine month periods ended September 30, 2015, the Company recognized $13,950 and $103,950 in share-based compen sation expense related to issuance of shares of restricted stock to non-employees (i.e., consultants) in exchange for services. Common Stock Warrants In connection with the March 23, 2016 public offering, the Company issued 9,100,000 shares of common stock and warrants to purchase 6,825,000 shares of common stock. Each share of common stock was sold together with a warrant to purchase 0.75 of a share of common stock. The warrants have an exercise price of $1.00 per share and expire five years from the issuance date. The fair value of the common stock warrants as of the issuance date was approximately $2,522,754. As of September 30, 2016, warrants for 2,773,982 shares of common stock issuable at $1.00 per share have been exercised. In connection with our July 23, 2013 initial public offering, the Company issued warrants to the underwriters for 125,000 shares of common stock issuable at $12.50 per share upon exercise. The warrants expire five years from the issuance date. On March 10, 2011, the Company issued warrants to purchase shares of common stock to third parties in consideration for a private equity placement transaction. The warrants have an exercise price of $0.48 per share and expire 10 years from the issuance date. As of September 30, 2016, the Company has issued and outstanding warrants to purchase 4,051,018 shares of common stock issuable at $1.00 per share; warrants to purchase 17,392 shares of common stock issuable at $0.48 per share and warrants to purchase 125,000 shares of common stock issuable at $12.50 per share. Subsequent to September 30, 2016, warrants for 375,000 shares of common stock issuable at $1.00 per share have been exercised. These warrants do not meet the criteria required to be classified as liability awards and therefore are treated as equity awards. Stock Options The following is a summary of the stock option activity for the nine months ended September 30, 2016: Shares Weighted Average Exercise Price Outstanding, December 31, 2015 1,214,686 $ 4.93 Granted 451,339 $ 2.18 Forfeited (446,178 ) $ 1.67 Outstanding, September 30, 2016 1,219,847 $ 4.09 The weighted average grant-date fair value of stock options granted during the nine months ended September 30, 2016 was $1.41. The fair value of each stock option was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions for stock options granted during the nine months ended September 30, 2016: Dividend yield 0.0 % Expected volatility 73.90 % Risk-free interest rate 1.84 % Expected lives (years) 6.0 The risk-free interest rate is based on U.S. Treasury interest rates at the time of the grant with a term which is consistent with the expected life of the stock options. The Company used an average historical stock price volatility based on an analysis of reported data for a peer group of comparable companies that have issued stock options with substantially similar terms, as the Company has limited trading history for its common stock. Expected term represents the period that the Company’s stock option grants are expected to be outstanding. The Company elected to utilize the “simplified” method to estimate the expected term. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option. Expected dividend yield was considered to be 0% in the option pricing formula since the Company had not paid any dividends and had no plans to do so in the future. The Company recognized $96,020 and $245,289 in share-based option compensation expense for the three months ended September 30, 2016 and 2015, respectively and $434,859 and $942,136 in share-based option compensation expense for the nine months ended September 30, 2016 and 2015, respectively for the Company’s stock option awards. In addition to share-based option compensation, the Company also recognized $8,150 in common stock compensation expense for one of its employees for the three and nine months ended September 30, 2016. The following table summarizes information about stock options outstanding at September 30, 2016: Options Outstanding Options Vested and Exercisable Balance as of 9/30/2016 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Balance as of 9/30/2016 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 1,219,847 7.2 $4.09 823,127 6.2 $4.60 As of September 30, 2016, the unrecognized stock-based compensation expense related to unvested stock options was $1,210,028, which is expected to be recognized over a weighted average period of approximately 16.6 months. Total stock-based compensation expense, including restricted stock, stock options, and common stock was $118,749 and $259,239 for the three months ended September 30, 2016 and 2015, respectively and $460,505 and $1,046,086 for the nine months ended September 30, 2016 and 2015, respectively.

Financing

Financing	9 Months Ended
	Sep. 30, 2016
Financing
Financing	9. Financing On August 15, 2016, Heat Biologics, Inc. (the “Company”) and FBR Capital Markets & Co. (“FBR”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) pursuant to which the Company may sell from time to time, at its option, shares of its common stock, par value $0.0002 per share, having an aggregate offering price of up to $10.5 million through FBR, as sales agent. The Company may sell shares of its common stock through FBR by any method permitted that is deemed an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the NASDAQ Capital Market, the existing trading market for the Company’s common stock, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices, and/or any other method permitted by law. Sales of shares of common stock will be made pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-199274) filed with the U.S. Securities and Exchange Commission (“SEC”), the base prospectus, dated October 23, 2014, filed as part of such registration statement and the prospectus supplement, dated August 15, 2016. FBR will be entitled to compensation at a fixed commission rate up to 3.0% of the gross proceeds per share sold through it as sales agent under the sales agreement. Beginning in August 2016 and through September 30, 2016, the Company sold 1.9 million shares of common stock under the FBR Sales Agreement resulting in net proceeds of approximately $2.8 million, after FBR’s commission of $0.08 million and other expenses of $0.12 million. As of October 31, 2016, the Company has sold an addition 1.0 million shares of common stock under the Sales Agreement resulting in net proceeds of approximately $1.4 million. Public Offering On March 23, 2016, the Company closed the issuance and sale of 9,100,000 shares of the Company’s common stock and warrants to purchase up to an aggregate of 6,825,000 shares of its common stock, at a combined public offering price of $0.75 per share and related warrant (the “Offering”). The warrants are exercisable immediately upon issuance, expire five years after the date of issuance and have an exercise price of $1.00 per share. The net proceeds to the Company from the Offering excluding exercise of warrants, were approximately $6.1 million after deducting underwriting discounts, commissions, and other third party offering expenses. As of September 30, 2016, the Company has raised approximately $2.8 million from the exercise of 2,773,982 warrants. In connection with the Offering, the Company entered into an Underwriting Agreement (the “Underwriting Agreement”) with Roth Capital Partners, LLC and Aegis Capital Corp., as representatives (the “Representatives”) of the several underwriters (collectively, the “Underwriters”). The Underwriting Agreement contains customary representations, warranties, and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended (the “Securities Act”), other obligations of the parties and termination provisions. Subsequent to September 30, 2016, warrants for 375,000 shares of common stock issuable at $1.00 per share have been exercised.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	10. Net Loss Per Share Basic and diluted net loss per common share is calculated by dividing net loss attributable to Heat Biologics, Inc. by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. The Company’s potentially dilutive shares, which include outstanding stock options and warrants, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following table reconciles net loss to net loss attributable to Heat Biologics, Inc.: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net loss $ (1,663,988 ) $ (5,427,709 ) $ (9,431,241 ) $ (14,357,325 ) Net loss: Non-controlling interest (47,042 ) (242,244 ) (329,471 ) (549,190 ) Net loss attributable to Heat Biologics, Inc. $ (1,616,946 ) $ (5,185,465 ) $ (9,101,770 ) $ (13,808,135 ) Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc.—basic and diluted 19,420,026 8,408,376 15,371,267 7,880,637 Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.08 ) $ (0.62 ) $ (0.59 ) $ (1.75 ) The following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect: For the Nine Months Ended September 30, 2016 2015 Outstanding stock options 1,219,847 1,106,895 Common stock warrants 4,068,410 17,392 Underwriters warrants 125,000 125,000

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax	11. Income Tax Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, operating loss carryforwards, and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with FASB ASC 740, Accounting for Income Taxes , the Company reflects in the accompanying unaudited condensed consolidated financial statements the benefit of positions taken in a previously filed tax return or expected to be taken in a future tax return only when it is considered ‘more-likely-than-not’ that the position taken will be sustained by a taxing authority. As of September 30, 2016 and December 31, 2015, the Company had no unrecognized income tax benefits and correspondingly there is no impact on the Company’s effective income tax rate associated with these items. The Company’s policy for recording interest and penalties relating to uncertain income tax positions is to record them as a component of income tax expense in the accompanying statements of operations and comprehensive loss. As of September 30, 2016 and December 31, 2015, the Company had no such accruals.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events On October 25, 2016, the Company announced that it entered into an agreement with the University of Miami for the license and development of a portfolio of patents leveraging its gp96 platform to target the Zika virus and other infectious diseases. The Company formed a wholly-owned subsidiary, Zolovax, Inc. to focus on the development of gp96-based vaccines initially targeting Zika with the ability to target HIV, West Nile dengue and yellow fever, among others.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of presentation	The accompanying unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting. However, certain information or footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed, or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company’s management, the unaudited consolidated financial statements in this Quarterly Report on Form 10-Q include all normal and recurring adjustments necessary for the fair statement of the results for the interim periods presented. The results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2016. The consolidated financial statements as of and for the three and nine months ended September 30, 2016 and 2015 included in this Quarterly Report on Form 10-Q are unaudited. The balance sheet as of December 31, 2015 is derived from the audited consolidated financial statements as of that date. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 18, 2016 (the “2015 Annual Report”).
Principles of Consolidation	The accompanying consolidated financial statements as of and for the three and nine months ended September 30, 2016 and 2015 include the accounts of Heat Biologics, Inc. and its subsidiaries, Heat Biologics I, Inc. (“Heat I”), Heat Biologics III, Inc. (“Heat III”), Heat Biologics IV, Inc. (“Heat IV”), Heat Biologics GmbH and Heat Biologics Australia Pty Ltd. The functional currency of the entities located outside the United States is the applicable local currency (the foreign entities). Assets and liabilities of the foreign entities are translated at period-end exchange rates. The statement of operations accounts are translated at the average exchange rate during the period. The effects of foreign currency translation adjustments are included in other comprehensive loss, which is a component of accumulated other comprehensive loss in stockholders’ equity. All significant intercompany accounts and transactions have been eliminated in consolidation. At September 30, 2016 and December 31, 2015, the Company held a 92.5% controlling interest in Heat I and accounts for its less than 100% interest in the consolidated financial statements in accordance with U.S. GAAP. Accordingly, the Company presents non-controlling interests as a component of stockholders’ equity on its consolidated balance sheets and reports non-controlling interest net loss under the heading “Net Loss – non-controlling interest” in the consolidated statements of operations and comprehensive loss. The accompanying consolidated financial statements have been prepared on a going concern basis. The Company has an accumulated deficit of approximately $53.5 million as of September 30, 2016 and a net loss of approximately $9.4 million for the nine months ended September 30, 2016, and has not generated significant revenue or positive cash flows from operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the audited financial statements are issued. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might result from the outcome of this uncertainty. To meet its capital needs, the Company is considering multiple alternatives, including, but not limited to, additional equity financings (including through the “at-the-market” Issuance Sales Agreement (the “FBR Sales Agreement”) that it entered into with FBR Capital Markets & Co. (“FBR”) in August 2016), debt financings, partnerships, collaborations and other funding transactions. There can be no assurance that the Company will be able to meet the requirements for use of the FBR Sales Agreement or to complete any such transactions on acceptable terms or otherwise. On April 1, 2016, the Company implemented a cost-savings plan and focused corporate strategy involving reductions in headcount as well as a deferral of a portion of annual base salaries for the Company’s leadership team to decrease operating costs. These cost-saving measures are intended to significantly reduce the Company’s cost structure and scale the organization appropriately for its current goals. The Company has, and plans to continue to, direct its resources primarily to enable the completion of its Phase 2 clinical trial of HS-410 for the treatment of non-muscle invasive bladder cancer (NMIBC) and to advance the Phase 1b trial evaluating HS-110 in combination with nivolumab, a Bristol-Myers Squibb PD-1 checkpoint inhibitor, for the treatment of non-small cell lung cancer (NSCLC). The Company has sufficient cash and cash equivalents to fund its clinical trials until the HS-410 Phase 2 data is released. If the Company is unable to obtain the necessary capital required to maintain operations, it will need to pursue a plan to license or sell its assets, seek to be acquired by another entity and/or cease operations.
Revenue Recognition	Revenue Recognition The Company recognizes revenues from license or research and research and development agreements when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. For revenue agreements with multiple-element arrangements, the Company allocates revenue to each non-contingent element based on the relative selling price of each element. When applying the relative selling price method, the Company determines the selling price for each deliverable by first using vendor-specific objective evidence, if available, and then third-party evidence. If neither exists, the Company uses its best estimate of selling price for that deliverable. Revenue allocated to an element is then recognized when the four basic revenue recognition criteria are met. Revenue associated with nonrefundable upfront license fees under arrangements where the license fees and research and development activities cannot be accounted for as separate units of accounting is deferred and recognized as revenue on a straight-line basis over the expected period of performance. Revenues from the achievement of research and development milestones, if deemed substantive, are recognized as revenue when the milestones are achieved and the milestone payments are due and collectible. If not deemed substantive, the Company recognizes such milestones as revenue on a straight-line basis over the remaining expected performance period under the arrangement. Milestones are considered substantive if all of the following conditions are met: (1) the milestone is nonrefundable; (2) achievement of the milestone was not reasonably assured at the inception of the arrangement; (3) substantive effort is involved to achieve the milestone; and (4) the amount of the milestone appears reasonable in relation to the effort expended, and the other milestones in the arrangement and the related risk associated with the achievement of the milestone and any ongoing research and development or other services are priced at fair value. Revenue related to research and development grants is recognized when the related research expenses are incurred and the Company’s specific performance obligations under the terms of the respective contracts are satisfied. Revenue recognized in the consolidated statement of operations is not subject to repayment.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2016, FASB issued ASU) No. 2016-15, Statement of Cash Flows (Topic 230). The guidance is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The effective date for the standard for public entities is for fiscal years beginning after December 15, 2017. Early adoption is permitted, provided all amendments are adopted in the same period. The guidance requires application using a retrospective transition method. We do not anticipate ASU 2016-15 to have a material impact to our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements or related footnote disclosures In February 2016, the FASB issued ASU No. 2016-02, Leases Leases The Company does not expect this guidance will have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements or related footnote disclosures In April 2015, the FASB issued ASU No. 2015-03, Interest Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09),

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of Held-To-Maturity Investments Estimated Fair Value of Investments	Amortized Gross Estimated September 30, 2016 Certificates of deposit, tri-party repurchase agreement, corporate notes and bonds $ — $ — $ — December 31, 2015 Certificates of deposit, tri-party repurchase agreement, corporate notes and bonds $ 6,689,643 $ (4,948 ) $ 6,684,695

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	September 30, 2016 December 31, Lab equipment $ 587,367 $ 541,065 Furniture and fixtures 55,883 55,883 Computers 38,902 40,545 Total 682,152 637,493 Accumulated depreciation (289,257 ) (191,760 ) Property and equipment, net $ 392,895 $ 445,733

Accrued Expenses and other pa23

Accrued Expenses and other payables (Tables)	9 Months Ended
	Sep. 30, 2016
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Expenses and other payables	September 30, December 31, Accrued clinical trial expenses $ 550,599 $ 1,192,936 Compensation and related benefits 198,974 561,082 Deferred rent 45,600 52,889 Patent fees 35,000 40,000 $ 830,173 $ 1,846,907

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Stock-based Compensation Tables
Schedule of Stock Option Activity	Shares Weighted Average Exercise Price Outstanding, December 31, 2015 1,214,686 $ 4.93 Granted 451,339 $ 2.18 Forfeited (446,178 ) $ 1.67 Outstanding, September 30, 2016 1,219,847 $ 4.09
Schedule of Stock Option Valuation Assumptions	Dividend yield 0.0 % Expected volatility 73.90 % Risk-free interest rate 1.84 % Expected lives (years) 6.0
Schedule of Options Outstanding, Vested and Exercisable	Options Outstanding Options Vested and Exercisable Balance as of 9/30/2016 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Balance as of 9/30/2016 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 1,219,847 7.2 $4.09 823,127 6.2 $4.60

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net loss $ (1,663,988 ) $ (5,427,709 ) $ (9,431,241 ) $ (14,357,325 ) Net loss: Non-controlling interest (47,042 ) (242,244 ) (329,471 ) (549,190 ) Net loss attributable to Heat Biologics, Inc. $ (1,616,946 ) $ (5,185,465 ) $ (9,101,770 ) $ (13,808,135 ) Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc.—basic and diluted 19,420,026 8,408,376 15,371,267 7,880,637 Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.08 ) $ (0.62 ) $ (0.59 ) $ (1.75 )
Schedule of Potentially Dilutive Securities	For the Nine Months Ended September 30, 2016 2015 Outstanding stock options 1,219,847 1,106,895 Common stock warrants 4,068,410 17,392 Underwriters warrants 125,000 125,000

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Accumulated deficit	$ 53,532,473		$ 53,532,473		$ 44,430,703
Net loss	1,616,946	$ 5,185,465	9,101,770	$ 13,808,135
Reclassification amount	$ 14,693		$ 14,693		$ 22,707
Heat Biologics I, Inc. [Member]
Noncontrolling Interest [Line Items]
Ownership interest in subsidiary	92.50%		92.50%		92.50%
Accumulated deficit	$ 53,532,473		$ 53,532,473		$ 44,430,703
Net loss			$ 9,400,000

Investments (Schedule of Held-T

Investments (Schedule of Held-To-Maturity Investments) (Details) - Certificates of deposit, tri-party repurchase agreement, corporate notes and bonds [Member] - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Amortized Cost		$ 6,689,643
Gross Unrealized (Losses)		(4,948)
Estimated Fair Value		$ 6,684,695

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Total	$ 682,152		$ 637,493
Accumulated depreciation	(289,257)		(191,760)
Property and equipment, net	392,895		445,733
Depreciation expense	$ 98,774	$ 84,373
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 587,367		541,065
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	55,883		55,883
Computers [Member]
Property, Plant and Equipment [Line Items]
Total	$ 38,902		$ 40,545

Accrued Expenses and other pa29

Accrued Expenses and other payables (Schedule of Accrued Expenses) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Accrued Liabilities, Current [Abstract]
Accrued clinical trial expenses	$ 550,599	$ 1,192,936
Compensation and related benefits	198,974	561,082
Deferred rent	45,600	52,889
Patent fees	35,000	40,000
Accrued expenses	$ 830,173	$ 1,846,907

Debt Issuance Costs (Narrative)

Debt Issuance Costs (Narrative) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2015
Debt Issuance Costs Narrative Details
Debt discount			$ 323,021
Deferred financing costs			$ 27,500	$ 7,425
Amortization expense for debt issuance costs	$ 77,231	$ 75,818

Notes Payable (Square 1 Bank Lo

Notes Payable (Square 1 Bank Loan) (Details) - Square 1 Bank [Member] - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2016	Aug. 31, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Debt instrument, amount outstanding							$ 7,500,000
Repayment of principal made during period	$ 1,500,000		$ 2,300,000	$ 145,161	$ 3,900,000	$ 145,161
Interest paid during period			84,724	$ 83,090	293,189	$ 181,520
Tranche 1 Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	800,000	$ 1,500,000	$ 800,000		$ 800,000
Debt instrument, maturity date		Feb. 22, 2018
Repayment of principal made during period	800,000
Tranche 2 Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,500,000
Debt instrument, maturity date		Feb. 22, 2018
Repayment of principal made during period	$ 700,000
Tranche 3 Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 2,250,000
Debt instrument, maturity date		Feb. 22, 2018
Tranche 4 Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 2,250,000
Debt instrument, maturity date		Feb. 22, 2018
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 7,500,000
Debt instrument, interest rate	6.30%		6.30%		6.30%
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	3.05%		3.05%		3.05%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	Mar. 10, 2011	Nov. 04, 2016	Mar. 23, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Stock based compensation				$ 118,749	$ 259,239	$ 460,505	$ 1,046,086
Shares issued for initial public offering			9,100,000
Price per share	$ 0.48		$ 1		$ 1		$ 1
Offering price			$ 0.75
Fair value of warrant equity						$ 2,522,754
Warrants, expiry period			5 years
Common stock issued for conversion of warrants			6,825,000
Expiration period	10 years
Weighted average grant-date fair value of stock options granted						$ 1.41
Unrecognized stock-based compensation expense				$ 1,210,028		$ 1,210,028
Unrecognized stock-based compensation expense, recognition period						16 months 18 days
Warrants exercised						2,773,982
Warrants to purchase shares of common stock issuable at $1.00 per share [Member]
Class of Stock [Line Items]
Price per share				$ 1		$ 1
Warrants to purchase shares of common stock				4,051,018		4,051,018
Warrants exercised						2,773,982
Warrants to purchase shares of common stock issuable at $0.48 per share [Member]
Class of Stock [Line Items]
Price per share				$ 0.48		$ 0.48
Warrants to purchase shares of common stock				17,392		17,392
Common stock warrants [Member]
Class of Stock [Line Items]
Price per share				$ 12.50		$ 12.50
Warrants to purchase shares of common stock				125,000		125,000
Restricted Stock [Member] | Non Employees [Member]
Class of Stock [Line Items]
Stock based compensation				$ 14,579	$ 13,950	$ 17,496	$ 103,950
Stock options [Member]
Class of Stock [Line Items]
Stock based compensation				96,020	$ 245,289	434,859	$ 942,136
Stock options [Member] | Employee [Member]
Class of Stock [Line Items]
Stock based compensation				$ 8,150		$ 8,150
Subsequent Event [Member]
Class of Stock [Line Items]
Warrants, exercise price		$ 1
Warrants exercised		375,000

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Stock Option Activity) (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Shares
Outstanding, beginning balance | shares	1,214,686
Granted | shares	451,339
Forfeited | shares	(446,178)
Outstanding, ending balance | shares	1,219,847
Weighted Average Exercise Price
Outstanding, beginning balance | $ / shares	$ 4.93
Granted | $ / shares	2.18
Forfeited | $ / shares	1.67
Outstanding, ending balance | $ / shares	$ 4.09

Stock-Based Compensation (Sch34

Stock-Based Compensation (Schedule of Stock Option Valuation Assumptions) (Details)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	0.00%
Expected volatility	73.90%
Risk-free interest rate	1.84%
Expected lives (years)	6 years

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstandng Stock Options) (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Options Outstanding
Balance | shares	1,219,847
Weighted Average Remaining Contractual Life (Years)	7 years 2 months 12 days
Weighted Average Exercise Price | $ / shares	$ 4.09
Options Vested and Exercisable
Balance | shares	823,127
Weighted Average Remaining Contractual Life (Years)	6 years 2 months 12 days
Weighted Average Exercise Price | $ / shares	$ 4.60

Financing (Details)

Financing (Details) - USD ($)	1 Months Ended				2 Months Ended	9 Months Ended
	Nov. 04, 2016	Oct. 31, 2016	Aug. 31, 2016	Mar. 23, 2016	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Common stock, par value per share					$ 0.0002	$ 0.0002		$ 0.0002
Proceeds from sale of common shares						$ 3,027,677
Number of common shares sold						1,898,842
Public offering, shares						$ 6,287,250
Common stock issued						9,100,000
Offering price				$ 0.75
Warrants, expiry period				5 years
Net proceeds from offering, , after deducting underwriting discounts, commissions, and other third party offering expenses						$ 6,100,000
Warrants exercised						2,773,982
Proceeds from exercise of warrants						$ 2,773,982
Subsequent Event [Member]
Warrants, exercise price	$ 1
Warrants exercised	375,000
Market Issuance Sales Agreement [Member]
Common stock, par value per share			$ 0.0002
Aggregate offering price			$ 10,500,000
Commission rate			3.00%
Proceeds from sale of common shares					$ 2,800,000
Commission on sales of shares					80,000
Other expenses					120,000
Public offering, shares					$ 2,800,000
Common stock issued					1,900,000
Market Issuance Sales Agreement [Member] | Subsequent Event [Member]
Proceeds from sale of common shares		$ 1,400,000
Number of common shares sold		1,000,000
Over-Allotment Option [Member]
Common stock issued				6,825,000
Offering price				$ 0.75
Warrants, expiry period				5 years
Warrants, exercise price				$ 1

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Reconciliation of Net Loss to Net Loss Attributable to Heat Biologics, Inc.) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net loss	$ (1,663,988)	$ (5,427,709)	$ (9,431,241)	$ (14,357,325)
Net loss: Non-controlling interest	(47,042)	(242,244)	(329,471)	(549,190)
Net loss attributable to Heat Biologics, Inc.	$ (1,616,946)	$ (5,185,465)	$ (9,101,770)	$ (13,808,135)
Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc. - basic and diluted	19,420,026	8,408,376	15,371,267	7,880,637
Net loss per share attributable to Heat Biologics, Inc. - basic and diluted	$ (0.08)	$ (0.62)	$ (0.59)	$ (1.75)

Net Loss Per Share (Schedule 38

Net Loss Per Share (Schedule of Antidilutive Securities) (Details) - shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	1,219,847	1,106,895
Common stock warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	4,068,410	17,392
Underwriters warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	125,000	125,000

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Unrecognized income tax benefits	$ 0	$ 0
Income tax expense accrued	$ 0	$ 0