Scorpius (SCPX) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 12, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity transition period	true
Entity Common Stock, Shares Outstanding		23,257,144
Trading Symbol	HTBX
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 20,962,319	$ 9,763,067
Accounts receivable	68,238	14,833
Prepaid expenses and other current assets	2,477,751	1,967,257
Total Current Assets	23,508,308	11,745,157
Property and Equipment, net	663,065	286,891
Other Assets
Restricted cash		2,292
In-process R&D	5,866,000	5,866,000
Goodwill	2,189,338	2,189,338
Deposits	99,220	69,798
Deferred financing costs		30,000
Total Other Assets	8,154,558	8,157,428
Total Assets	32,325,931	20,189,476
Current Liabilities
Accounts payable	976,090	1,033,680
Deferred revenue	3,090,675	6,826,388
Contingent consideration	1,217,000
Accrued expenses and other liabilities	1,530,820	2,276,431
Total Current Liabilities	6,814,585	10,136,499
Long Term Liabilities
Other long term liabilities	188,482	160,559
Deferred tax liability	637,140	1,302,220
Deferred revenue, net of current portion	200,000	200,000
Contingent consideration, net of current portion	2,058,225	2,609,289
Total Liabilities	9,898,432	14,408,567
Commitments and Contingencies
Stockholders' Equity
Common stock, $.0002 par value; 100,000,000 shares authorized, 23,235,596 and 4,200,310 shares issued and outstanding at September 30, 2018 - unaudited) and December 31, 2017, respectively	4,647	840
Additional paid-in capital	104,378,324	76,382,262
Accumulated deficit	(79,642,034)	(68,846,326)
Accumulated other comprehensive loss	(55,377)	(166,025)
Total Stockholders' Equity-Heat Biologics, Inc.	24,685,560	7,370,751
Non-Controlling Interest	(2,258,061)	(1,589,842)
Total Stockholders' Equity	22,427,499	5,780,909
Total Liabilities and Stockholders' Equity	$ 32,325,931	$ 20,189,476

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.0002	$ 0.0002
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	23,235,596	4,200,310
Common stock, shares outstanding	23,235,596	4,200,310

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Grant and licensing revenue	$ 1,840,009	$ 470,823	$ 3,735,713	$ 906,313
Operating expenses:
Research and development	4,403,759	1,823,922	10,756,485	5,788,755
General and administrative	1,585,600	1,188,476	4,727,105	4,298,072
Change in fair value of contingent consideration	114,838		665,936
Total operating expenses	6,104,197	3,012,398	16,149,526	10,086,827
Loss from operations	(4,264,188)	(2,541,575)	(12,413,813)	(9,180,514)
Interest income	83,509	5,629	131,306	17,316
Other income, net	31,704	31,768	153,500	109,211
Total non-operating income, net	115,213	37,397	284,806	126,527
Net loss before income tax benefit	(4,148,975)	(2,504,178)	(12,129,007)	(9,053,987)
Income tax benefit	225,389		665,080
Net loss	(3,923,586)	(2,504,178)	(11,463,927)	(9,053,987)
Net loss - non-controlling interest	(265,024)	(203,371)	(668,219)	(344,328)
Net loss attributable to Heat Biologics, Inc.	$ (3,658,562)	$ (2,300,807)	$ (10,795,708)	$ (8,709,659)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted	$ (0.16)	$ (0.64)	$ (0.75)	$ (2.66)
Weighted-average number of common shares used in net loss per share attributable to common stockholders-basic and diluted	23,143,952	3,578,661	14,359,429	3,269,536
Other comprehensive loss:
Net loss	$ (3,923,586)	$ (2,504,178)	$ (11,463,927)	$ (9,053,987)
Unrealized gain /(loss) on foreign currency translation	39,377	(24,707)	110,648	(100,742)
Total other comprehensive loss	(3,884,209)	(2,528,885)	(11,353,279)	(9,154,729)
Comprehensive loss attributable to non-controlling interest	(265,024)	(203,371)	(668,219)	(344,328)
Comprehensive loss	$ (3,619,185)	$ (2,325,514)	$ (10,685,060)	$ (8,810,401)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($)	Common Stock [Member]	APIC [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Non-Controlling Interest [Member]	Total
Balance at Dec. 31, 2017	$ 840	$ 76,382,262	$ (68,846,326)	$ (166,025)	$ (1,589,842)	$ 5,780,909
Public offering, 14,375,000 shares, net of underwriters discount	2,875	20,697,122				20,699,997
Exercise of warrants, 3,054,667 shares	611	4,837,982				4,838,593
Issuance of common stock, 1,545,449 shares	309	3,866,096				3,866,405
Stock issuance costs		(2,057,872)				(2,057,872)
Stock-based compensation	12	652,734				652,746
Other comprehensive gain				110,648		110,648
Net loss			(10,795,708)		(668,219)	(11,463,927)
Balance at Sep. 30, 2018	$ 4,647	$ 104,378,324	$ (79,642,034)	$ (55,377)	$ (2,258,061)	$ 22,427,499

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - shares	May 07, 2018	May 31, 2018	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Issuance of common stock, shares			1,545,449
Public offering, shares	4,875,000		14,375,000
Exercise of warrants, shares		3,054,667	3,054,667

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities
Net loss	$ (11,463,927)	$ (9,053,987)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	171,235	100,958
Stock-based compensation	652,746	546,321
Change in fair value of contingent consideration	665,936
Increase (decrease) in cash arising from changes in assets and liabilities:
Accounts receivable	(53,714)	81,185
Prepaid expenses and other current assets	(514,265)	(1,592,084)
Accounts payable	(55,384)	4,179
Deferred revenue	(3,735,713)	938,388
Accrued expenses and other liabilities	(743,519)	(475,350)
Deferred tax liability	(665,080)
Deferred financing costs	30,000	(46,340)
Other long term liabilities	27,923	(11,464)
Deposits	(29,422)
Net Cash Used in Operating Activities	(15,713,184)	(9,508,194)
Cash Flows from Investing Activities
Purchase of Pelican, net of cash acquired		(468,801)
Purchase of property and equipment	(547,409)	(61,382)
Net Cash Used in Investing Activities	(547,409)	(530,183)
Cash Flows from Financing Activities
Proceeds from public offering, net of underwriting discounts	20,699,997	4,183,000
Proceeds from the issuance of common stock, net of commissions	3,866,405	2,463,180
Proceeds from exercise of warrants	4,838,593
Stock issuance costs	(2,057,872)	(239,617)
Net Cash Provided by Financing Activities	27,347,123	6,406,563
Effect of exchange rate changes on cash, cash equivalents and restricted cash	110,430	(21,105)
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash	11,196,960	(3,652,919)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	9,765,359	7,943,838
Cash, Cash Equivalents and Restricted Cash - End of Period	20,962,319	4,290,919
Supplemental Disclosure for Cash Flow Information
Issuance of common stock for purchase of Pelican		$ 1,052,000

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies Basis of Presentation and Principles of Consolidation On January 19, 2018, the Company announced a reverse stock split of its shares of common stock at a ratio of one-for-ten. The reverse stock split took effect at 11 p.m. ET on January 19, 2018, and the Company’s common stock began to trade on a post-split basis at the market open on January 22, 2018. During the Company’s annual stockholders meeting held June 29, 2017, stockholders approved the Company’s reverse stock split and granted the board of directors the authority to implement and determine the exact split ratio within a specified range. When the reverse stock split became effective, every 10 shares of the Company’s issued and outstanding common stock were combined into one share of common stock. Effecting the reverse stock split reduced the number of issued and outstanding common stock from approximately 42 million shares to approximately 4.2 million. It also subsequently adjusted outstanding options issued under the Company’s equity incentive plan and outstanding warrants to purchase common stock. 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 nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2018. The consolidated financial statements as of and for the nine months ended September 30, 2018 and 2017 included in this Quarterly Report on Form 10-Q are unaudited. The balance sheet as of December 31, 2017 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, 2017 filed with the SEC on March 2, 2018 (the “2017 Annual Report”). On April 28, 2017, the Company completed the acquisition of an 80% controlling interest in Pelican Therapeutics, Inc. (“Pelican”), a related party prior to acquisition. Operations of Pelican are included in the consolidated statements of operations and comprehensive loss from the acquisition date. The accompanying consolidated financial statements as of and for the nine months ended September 30, 2018 and 2017 include the accounts of Heat Biologics, Inc. (“the Company”), and its subsidiaries, Heat Biologics I, Inc. (“Heat I”), Heat Biologics III, Inc. (“Heat III”), Heat Biologics IV, Inc. (“Heat IV”), Heat Biologics GmbH, Heat Biologics Australia Pty Ltd. and Zolovax. Additionally, as of the nine months ended September 30, 2018 the accompanying consolidated financials include Pelican. 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. 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 December 31, 2017 and September 30, 2018, the Company held a 92.5% controlling interest in Heat I and an 80% controlling interest in Pelican. All other subsidiaries are wholly owned. For the nine months ended September 30, 2018 the Company recognized $223,487 in net loss non-controlling interest for Heat I and $444,732 in net loss non-controlling interest for Pelican. The Company accounts for its less than 100% interest in these subsidiaries 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 Company has an accumulated deficit of approximately $79.6 million as of September 30, 2018 and a net loss of approximately $11.5 million for the nine months ended September 30, 2018 and has not generated significant revenue or positive cash flows from operations. The Company expects to incur significant expenses and continued losses from operations for the foreseeable future. The Company expects its expenses to increase in connection with its ongoing activities, particularly as the Company continues its research and development and advances its clinical trials of, and seek marketing approval for, its product candidates and as the Company continues to fund the Pelican matching funds required in order to access the CPRIT Grant. In addition, if the Company obtains marketing approval for any of its product candidates, the Company expects to incur significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Accordingly, the Company will need to obtain substantial additional funding in connection with its continuing operations. Adequate additional financing may not be available to the Company on acceptable terms, or at all. If the Company is unable to raise capital when needed or on attractive terms, it would be forced to delay, reduce or eliminate its research and development programs or any future commercialization efforts. To meet its capital needs, the Company intends to continue to consider multiple alternatives, including, but not limited to, additional equity financings such as sales of its common stock under the H.C. Wainwright Sales Agreement if available, debt financings, partnerships, collaborations and other funding transactions. This is based on the Company’s current estimates, and the Company could use its available capital resources sooner than it currently expects. The Company is continually evaluating various cost-saving measures in light of its cash requirements in order to focus resources on its product candidates. The Company will need to generate significant revenues to achieve profitability, and it may never do so. As of September 30, 2018, the Company had approximately $21.0 million in cash and cash equivalents and has sufficient cash on hand to fund its operations one year from date of this filing. In May 2018, through a public offering, the Company raised approximately $18.8 million, net of underwriting discounts and commissions and other estimated offering expenses, and an additional $4.8 million through the exercise of 3,054,667 warrants. Cash Equivalents and Restricted Cash The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Restricted cash consists of deposits held by the US Patent and Trademark Office. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are used for, but not limited to, useful lives of fixed assets, income taxes and stock-based compensation. Actual results may differ from those estimates. Segments The Company has one reportable segment - the development of immunotherapies designed to activate and expand a patient's T-cell mediated immune system against cancer. Business Combinations The Company accounts for acquisitions using the acquisition method of accounting, which requires that all identifiable assets acquired and liabilities assumed be recorded at their estimated fair values. The excess of the fair value of purchase consideration over the fair values of identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions. Critical estimates in valuing certain intangible assets include but are not limited to future expected cash flows from acquired patented technology. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Other estimates associated with the accounting for acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed (see Note 2). Goodwill and In-Process Research and Development The Company classifies intangible assets into three categories: (1) intangible assets with definite lives subject to amortization, (2) intangible assets with indefinite lives not subject to amortization and (3) goodwill. The Company determines the useful lives of definite-lived intangible assets after considering specific facts and circumstances related to each intangible asset. Factors the Company considers when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, and other economic facts; including competition and specific market conditions. Intangible assets that are deemed to have definite lives are amortized, primarily on a straight-line basis, over their estimated useful lives. Intangible assets that are deemed to have indefinite lives, including goodwill, are reviewed for impairment annually on the anniversary of the acquisition, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test for indefinite-lived intangibles, other than goodwill, consists of a comparison of the fair value of the intangible asset with its carrying amount. If the carrying amount exceeds the fair value, an impairment charge is recognized in an amount equal to that excess. Indefinite-lived intangible assets, such as goodwill, are not amortized. The Company will qualitatively test the carrying amounts of goodwill for recoverability on an annual basis or when events or changes in circumstances indicate evidence a potential impairment exists, using a fair value-based test. No impairment existed at September 30, 2018. In-process research and development, or IPR&D, assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development projects. IPR&D assets represent the fair value assigned to technologies that the Company acquires, which at the time of acquisition have not reached technological feasibility and have no alternative future use. During the period that the assets are considered indefinite-lived, they are tested for impairment on an annual basis, or more frequently if the Company becomes aware of any events occurring or changes in circumstances that indicate that the fair value of the IPR&D assets are less than their carrying amounts. If and when development is complete, which generally occurs upon regulatory approval and the ability to commercialize products associated with the IPR&D assets, these assets are then deemed definite-lived and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may have a full or partial impairment charge related to the IPR&D assets, calculated as the excess of carrying value of the IPR&D assets over fair value. No impairment existed at September 30, 2018. Contingent Consideration Consideration paid in a business combination may include potential future payments that are contingent upon the acquired business achieving certain milestones in the future (“contingent consideration”). Contingent consideration liabilities are measured at their estimated fair value as of the date of acquisition, with subsequent changes in fair value recorded in the consolidated statements of operations. The Company estimates the fair value of the contingent consideration as of the acquisition date using the estimated future cash outflows based on the the Company Revenue Recognition Effective January 1, 2018, the Company has adopted on a modified retrospective basis Accounting Standards Codification (ASC) Topic 606. The Company’s sole source of current revenue is grant revenue related to the CPRIT Contract, which is being accounted for under ASC 606. ASC 606 introduces a new framework for analyzing potential revenue transactions by identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract, and recognizing revenue when (or as) the Company satisfies a performance obligation. The performance obligations of the CPRIT Contract include developing a human TNFRSF25 agonist antibody for use in cancer patients through research and development efforts and a noncommercial license from CPRIT-funded research to CPRIT and other government agencies and institutions of higher education in Texas. Management has concluded that the license and R&D services should be combined into a single performance obligation as both are highly interdependent - a license cannot be effectively granted without the corresponding research basis and CPRIT cannot benefit from the license without the R&D services and are therefore not capable of being distinct. The CPRIT grant covers a period from June 1, 2017 through October 31, 2019, for a total grant award of up to $15.2 million. CPRIT advances grant funds upon request by the Company consistent with the agreed upon amounts and schedules as provided in the contract. The first tranche of funding of $1.8 million was received in May 2017, and a second tranche of funding of $6.5 million was received in October 2017. The next tranche of funding is expected to be requested and received in the next few months. Funds received are reflected in deferred revenue as a liability until revenue is earned. Grant revenue is recognized when qualifying costs are incurred. Deferred Revenue As of September 30, 2018, deferred revenue balance is $3.1 million received from CPRIT for which the costs have not been incurred or the conditions of the award have not been met and $0.2 million of grant funds received from an economic development grant agreement with the City of San Antonio (“Economic Development Grant”), for the purpose of defraying costs toward the purchase of laboratory equipment. As of September 30, 2018, $5.2 million was recognized as revenue from CPRIT since the CPRIT contract inception. Prepaid Expenses and Other Current Assets The Company’s prepaid expenses and other current assets consists primarily of the amount paid in advance for cGMP production of Pelican’s PTX-35 antibody and other Tumor Necrosis Factor Receptor Super Family member 25(“TNFRSF25”) target biologics, as well as Chemistry Manufacturing and Control (“CMC”) material for the Company’s clinical trial studies for HS-110. Income Taxes The Company accounts for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent that utilization is not presently more likely than not. Significant Accounting Policies The significant accounting policies used in preparation of these interim financial statements are disclosed in the Company's Form 10-K and have not changed significantly since such filing. Recently Issued Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07: Compensation – Stock Compensation (Topic 718) The Company has not determined the impact of this standard and does not plan early adoption of this standard. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805) The Company has not determined the impact of this standard and does not plan early adoption of this standard. In August 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230)—Restricted Cash. ASU 2016-18 requires the statement of cash flows to be a reconciliation between beginning and ending cash balances inclusive of restricted cash balances. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and is to be applied using a retrospective transition method to each period presented. The Company adopted this ASU for the year ending December 31, 2018. The adoption of this standard resulted in the removal of changes in Restricted Cash from the Consolidated Statements of Cash Flows of $2,292 and $98,879 for the nine months ended September 30, 2018 and 2017, respectively and inclusion of these amounts as part of the starting and ending cash balances. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) Classification of Certain Items Within the Company’s Form 10-K Certain reclassifications of prior period amounts will be made within the Company’s Form 10-K filing for the year ended December 31, 2018 to conform to current period presentation. Specifically, during the nine months ended September 30, 2018, the Company determined that $200,000 related to deferred revenue should have been classified as long term rather than short term. There is no impact to the consolidated statements of operations or consolidated balance sheets. The Company evaluated the effect of this misclassification and concluded it was not material to any of its previously issued consolidated financial statements. Immaterial Error Correction Certain error corrections will be made within the Company’s Form 10-Q filings for the quarters ended March 31, 2019 and June 30, 2019 to conform to current period presentation. During the nine months ended September 30, 2018, the Company determined that an income tax benefit was required for the quarters ended March 31, 2018 and June 30, 2018. Specifically, the current year net operating losses gave rise to an indefinite-lived deferred tax asset which provided sufficient support to offset up to 80% of the Company’s indefinite-lived deferred tax liability. Accordingly, the income tax benefit for the quarters ended March 31, 2018 and June 30, 2018 were understated by approximately $205,000 and $235,000, respectively. The Company evaluated the effect of this error and concluded it was not material to any of its previously issued consolidated financial statements. Upon revision, the Company will have an income tax benefit of approximately $205,000 and $235,000 for the quarters ended March 31, 2018 and June 30, 2018, respectively. There is no impact of this error for any quarters prior to March 31, 2018.

Acquisition of Pelican Therapeu

Acquisition of Pelican Therapeutics	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisition of Pelican Therapeutics	2. Acquisition of Pelican Therapeutics On April 28, 2017, the Company consummated the acquisition of 80% of the outstanding equity of Pelican, a related party, and Pelican became a majority owned subsidiary of the Company. Operations of Pelican are included in the consolidated statements of operations and comprehensive loss from the acquisition date. Pelican is a biotechnology company focused on the development and commercialization of monoclonal antibody and fusion protein-based therapies that are designed to activate the immune system. In exchange for 80% of the outstanding capital stock of Pelican on a fully diluted basis, the Company paid to the Pelican Stockholders that executed the Stock Purchase Agreement (the “Participating Pelican Stockholders”) an aggregate of $0.5 million minus certain liabilities (the “Cash Consideration”), and issued to the Participating Pelican Stockholders 133,106 shares of the Company’s restricted common stock representing 4.99% of the outstanding shares of our common stock on the date of the initial execution of the Purchase Agreement (the “Stock Consideration”). During the nine months ended September 30, 2018, the Cash Consideration of approximately $0.3 million was distributed to the Participating Pelican Stockholders and the remainder of approximately $0.2 million for certain Pelican liabilities not satisfied was recognized as other income in the Consolidated Statements of Operations and Comprehensive Loss. Under the agreement, the Company is also obligated to make future payments based on the achievement of certain clinical and commercialization milestones, as well as low single digit royalty payments and payments upon receipt of sublicensing income: (1) $2,000,000 upon Pelican’s dosing of the first patient in its first Phase 1 trial for an oncology indication; (2) $1,500,000 upon Pelican’s dosing of the first patient in its first Phase 2 trial for an oncology indication; (3) $3,000,000 upon successful outcome of the first Phase 2 trial for an oncology indication; (4) $6,000,000 upon Pelican’s dosing of the first patient in its first Phase 3 trial for an oncology indication; (5) $3,000,000 upon Pelican’s dosing of the first patient in its first Phase 3 trial for a non- oncology indication; (6) $7,500,000 upon successful outcome of the first Phase 3 trial for an oncology indication; (7) $3,000,000 upon successful outcome of the first Phase 3 trial for a non-oncology indication; (8) $7,500,000 upon acceptance of a Biologics License Application (BLA) submission for an oncology indication; (9) $3,000,000 upon acceptance of a BLA submission for a non-oncology indication; (10) $7,500,000 upon first product indication approval in the United States or Europe for an oncology indication; (11) $3,000,000 upon first product indication approval in the United States or Europe for a non-oncology indication. The fair value of these future milestone payments is reflected in the contingent consideration account under long term liabilities on the balance sheet. The estimated fair value of the contingent consideration was determined using a probability-weighted income approach, at a discount of 5.51% based on the median yield of publicly traded non-investment grade debt of companies in the pharmaceutical industry. The Company performs an analysis on a quarterly basis and as of September 30, 2018, the Company determined the change in the estimated fair value of the contingent consideration was $665,936 for the nine months ended September 30, 2018. The Company has recorded the assets purchased and liabilities assumed at their estimated fair value in accordance with FASB ASC Topic 805: Business Combinations The estimated fair value of the IPR&D was determined using a probability-weighted income approach, which discounts expected future cash flows to present value. The projected cash flows were based on certain key assumptions, including estimates of future revenue and expenses, taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development. The Company utilized corporate bond yield data observed in the bond market to develop the discount rate utilized in the cash flows that have been probability adjusted to reflect the risks of product commercialization, which the Company believes are appropriate and representative of market participant assumptions. The purchase price has been allocated to the assets and liabilities as follows: Aggregate consideration: Cash consideration $ 500,000 Stock consideration $ 1,052,000 Contingent consideration $ 2,385,000 Total Consideration $ 3,937,000 Purchase price allocation: Cash acquired $ 31,199 In-process R&D $ 5,866,000 Goodwill $ 2,189,338 Deferred tax liability $ (2,111,760 ) Net liabilities assumed $ (1,102,777 ) Fair value of non-controlling interest $ (935,000 ) Total purchase price $ 3,937,000 Goodwill is calculated as the difference between the acquisition-date fair value of the consideration transferred and the fair values of the assets acquired and liabilities assumed. The goodwill resulting from this acquisition arises largely from synergies expected from combining the operations. The goodwill is not deductible for income tax purposes. In-process R&D assets are treated as indefinite-lived until the completion or abandonment of the associated R&D program, at which time the appropriate useful lives will be determined. The Company calculated the fair value of the non-controlling interest acquired in the acquisition as 20% of the equity interest of Pelican, adjusted for a minority interest discount. In May 2016, Pelican was awarded a $15.2 million grant from CPRIT for development of Pelican’s lead product candidate, PTX-35. The CPRIT Grant is expected to allow Pelican to develop PTX-35 through a 70-patient Phase 1 clinical trial. The Phase 1 clinical trial will be designed to evaluate PTX-35 in combination with other immunotherapies. The CPRIT Grant is subject to customary CPRIT funding conditions including a matching funds requirement where Pelican will match $0.50 for every $1.00 from CPRIT. Consequently, Pelican is required to raise $7.6 million in matching funds over the three year project. Pelican has contributed net revenue of $3.7 million and net loss of $2.2 million, respectively, which are included in the Company’s consolidated statement of operations and comprehensive loss for the nine months ended September 30, 2018. The following unaudited pro forma information presents the combined results of operations for the nine months ended September 30, 2017, as if the Company had completed the Pelican acquisition at the beginning of fiscal 2017. All expenses for Pelican have been included in the Company’s consolidated financials since the quarter ending September 30, 2017, therefore the nine months ended September 30, 2018 are not pro forma and the three months ended September 30, 2018 and 2017 are not applicable. The pro forma financial information is provided for comparative purposes only for the nine months ended September 30, 2017 and is not necessarily indicative of what actual results would have been had the acquisition occurred on the date indicated, nor does it give effect to synergies, cost savings, fair market value adjustments, immaterial amortization expense and other changes expected to result from the acquisition. Accordingly, the pro forma financial results do not purport to be indicative of consolidated results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period. Nine Months Ended September 30, 2018 2017 Revenue $ 3,735,713 $ 906,313 Net loss (11,463,927 ) (9,444,913 ) Net loss: Non-controlling interest (668,219 ) (422,513 ) Net loss attributable to Heat Biologics, Inc. $ (10,795,708 ) $ (9,022,400 ) Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.75 ) $ (2.65 )

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	3. 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. 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 Company's cash equivalents are classified within Level I of the fair value hierarchy. The following table provides a rollforward of the Company’s Level 3 fair value measurements: Contingent Consideration Balance at December 31, 2017 $ 2,609,289 Change in fair value 665,936 Balance at September 30, 2018 $ 3,275,225 The change in the fair value of the contingent consideration of $665,936 for the nine months ended September 30, 2018 reflects an increase in the probability of reaching Pelican’s dosing of the first patient in its first Phase 1 trial for an oncology indication based on the passage of time and impact of progress in antibody manufacturing. Adjustments associated with the change in fair value of contingent consideration are included in the Company’s consolidated statement of operations and comprehensive loss. The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements of contingent consideration classified as Level 3 as of September 30, 2018: Valuation Significant Weighted Average Contingent Consideration Probability weighted Milestone dates 2019-2026 Discount rate 3.9% to 9.3% Probability of occurrence 23% - 86%

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following at: September 30, 2018 December 31, Prepaid manufacturing expense $ 2,026,833 $ 1,551,597 Prepaid insurance 335,583 218,750 Other prepaid expenses 95,320 87,937 Other current assets 20,015 108,973 $ 2,477,751 $ 1,967,257

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	5. 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 three to seven years. Expenditures for maintenance and repairs are charged to expense as incurred. Property and equipment consisted of the following: September 30, 2018 December 31, Furniture and fixtures $ 55,883 $ 55,883 Computers 33,096 41,333 Lab equipment 1,189,752 645,433 Total 1,278,731 742,649 Accumulated depreciation (615,666 ) (455,758 ) Property and equipment, net $ 663,065 $ 286,891 Depreciation expense was $171,235 and $100,958 for the nine months ended September 30, 2018 and 2017, respectively.

Goodwill and In-process R&D

Goodwill and In-process R&D	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and In-process R&D	6. Goodwill and In-Process R&D Goodwill of $2.2 million and in-process R&D of $5.9 million were recorded in connection with the acquisition of Pelican, as described in Note 2. The carrying value of goodwill and in-process R&D has remained unchanged and no impairment was recognized as of September 30, 2018 and December 31, 2017.

Accrued Expenses and other paya

Accrued Expenses and other payables	9 Months Ended
	Sep. 30, 2018
Accrued Liabilities, Current [Abstract]
Accrued Expenses and other payables	7. Accrued Expenses and other payables Accrued expenses and other payables consist of the following: September 30, December 31, Accrued clinical trial and other expenses $ 1,314,133 $ 1,504,240 Compensation and related benefits 86,038 542,434 Deferred rent 13,349 27,457 Patent fees 35,000 40,000 Other expenses 82,300 162,300 $ 1,530,820 $ 2,276,431

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2018
Stock-based Compensation [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation Stock Options The following is a summary of the stock option activity for the nine months ended September 30, 2018: Shares Weighted Average Exercise Price Outstanding, December 31, 2017 266,884 $ 19.57 Granted 216,336 3.62 Forfeited (17,814 ) 31.36 Outstanding, September 30, 2018 465,406 $ 11.71 The weighted average grant-date fair value of stock options granted during the nine months ended September 30, 2018 was $2.67. The fair value of each stock option was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions for stock options granted during the nine months ended September 30, 2018: Dividend yield 0.0 % Expected volatility 91.38 % Risk-free interest rate 2.44 % Expected lives (years) 6.1 The risk-free interest rate is based on U.S. Treasury interest rates at the time of the grant whose term 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 did not have sufficient 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 forfeiture rate was considered to be none as the options vest on a monthly basis. The Company recognized $112,730 and $122,657 in stock-based option compensation expense for the three months ended September 30, 2018 and 2017, respectively and $354,877 and $367,800 in stock-based option compensation expense for the nine months ended September 30, 2018 and 2017, respectively. The following table summarizes information about stock options outstanding at September 30, 2018: Options Outstanding Options Vested and Exercisable 9/30/2018 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Balance as of 9/30/2018 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 465,406 8.4 $11.71 180,274 7.3 $22.08 As of September 30, 2018, the unrecognized stock-based compensation expense related to unvested stock options was $1,475,129, which is expected to be recognized over a weighted average period of approximately 16 months. Restricted Stock The Company recognized $27,084 and $16,314 in stock-based compensation expense for employees related to restricted stock awards during the three months ended September 30, 2018 and 2017, respectively, and $292,312 and $152,521 in stock-based compensation expense for employees related to restricted stock awards during the nine months ended September 30, 2018 and 2017, respectively. The Company recognized $800 and $ 5,000 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 months ended September 30, 2018 and 2017, respectively and $5,557 and $ 26,000 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 nine months ended September 30, 2018 and 2017, respectively. As of September 30, 2018, there were 61,144 restricted stock awards granted to employees and non-employees, all of which were unvested. Total stock-based compensation expense, including restricted stock and stock options was $652,746 and $546,321 for the nine months ended September 30, 2018 and 2017, respectively.

Financing

Financing	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Financing	9. Financing Public Offering On May 7, 2018, the Company closed an underwritten public offering (the “Offering”) in which it issued and sold (i) 4,875,000 shares of common stock together with a number of common warrants to purchase 2,437,500 shares of its common stock, and (ii) 9,500,000 pre-funded warrants, with each pre-funded warrant exercisable for one share of common stock, together with a number of common warrants to purchase 4,750,000 shares of its common stock. The public offering price was $1.44 per share of common stock, $1.43 per pre-funded warrant and $0.01 per common warrant. The net proceeds to the Company were approximately $18.8 million, net of underwriting discounts and commissions and other estimated offering expenses. The common stock warrants expire five years after date of issuance and have an exercise price of $1.584 per share. As of September 30, 2018, 3,054,667 common stock warrants have been exercised for an additional $4.8 million of proceeds to the Company and all pre-funded warrants have been exercised. In connection with the offering the Company entered into an underwriting agreement (the “Underwriting Agreement”), dated May 2, 2018 with A.G.P./Alliance Global Partners (A.G.P.), as representative of the underwriters. The Underwriting Agreement contained 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. At the Market Offering On January 18, 2018, the Company entered into a Common Stock Sales Agreement with H.C. Wainwright & Co., LLC, (“HCW”) as sales agent, pursuant to which the Company may sell from time to time, at its option, shares of its common stock, for the sale of up to $3,658,000 of shares of the Company’s common stock and on March 15, 2018 filed with the SEC a prospectus supplement for an additional aggregate offering of up to $1,300,000 shares of Common Stock. Sales of shares of Common Stock have been made pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-221201) filed with the U.S. Securities and Exchange Commission (“SEC”), dated November 13, 2017. As of September 30, 2018, the Company sold an aggregate of 1,545,449 shares of common stock under the HCW Sales Agreement resulting in net proceeds of approximately $3.7 million. Common Stock Warrants In connection with the May 7, 2018 public offering, the Company issued 9,500,000 pre-funded warrants and 7,187,500 common stock warrants each of which are exercisable for one share of common stock. The pre-funded warrants had an exercise price of $0.01 per share and as of September 30, 2018 all pre-funded warrants have been exercised. The common stock warrants have an exercise price of $1.584 per share and expire five years from the issuance date. As of September 30, 2018, 3,054,667 common stock warrants have been exercised. The warrants have been accounted for as equity instruments. The fair value of the common stock warrants of approximately $7.8 million at the date of issuance was estimated using the Black-Scholes Merton model which used the following inputs: term of 5 years, risk free rate of 2.78%, 0% dividend yield, volatility of 124.14%, and share price of $1.30 per share based on the trading price of the Company’s common stock. In connection with the March 23, 2017 public offering, the Company issued warrants to purchase 682,500 shares of common stock with an exercise price of $10.00 per share that expire five years from the issuance date. In connection with the Company’s July 23, 2013 initial public offering, the Company issued warrants to the underwriters for 12,500 shares of common stock issuable at $125.00 per share which expired July 22, 2018. 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 of which 1,738 warrants remain outstanding. The warrants have an exercise price of $4.80 per share and expire ten years from the issuance date. During the nine months ended September 30, 2018, 3,054,667 common stock warrants have been exercised and 12,500 common stock warrants have expired. No warrants were exercised during the same period in 2017. As of September 30, 2018 the Company has outstanding warrants to purchase 4,132,833 shares of common stock issuable at $1.584 per share, 296,159 shares of common stock issuable at $10.00 per share; and warrants to purchase 1,738 shares of common stock issuable at $4.80 per share. These warrants do not meet the criteria required to be classified as liability awards and therefore are treated as equity awards.

Grant and Licensing Revenues

Grant and Licensing Revenues	9 Months Ended
	Sep. 30, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Grant and Licensing Revenues	10. Grant and Licensing Revenues In June 2016, Pelican entered into a Cancer Research Grant Contract (“Grant Contract”) with CPRIT, Upon commercialization of the product, the terms of the Grant Contract require Pelican to pay tiered The Company recognized grant revenue of approximately $1.8 million and $3.7 million during the three and nine months ended September 30, 2018 for qualified expenditures under the grant. The Company recognized grant revenue of approximately $0.5 million and $0.9 million during the three and nine months ended September 30, 2017, including an additional $0.02 million of research funding revenue for research and development services provided to Shattuck Labs, Inc. which research funding agreement terminated January 31, 2017. As of September 30, 2018, the Company had deferred revenue of $3.1 million for proceeds received from the CPRIT grant, but for which the costs had not been incurred or the conditions of the award had not been met. The Company had deferred revenue, net of current portion of $0.2 million grant funds received from an economic development grant agreement with the City of San Antonio (“Economic Development Grant”), for the purpose of defraying costs toward the purchase of laboratory equipment.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Loss Per Share	11. Net Loss Per Share Basic and diluted net loss per common share is calculated by dividing net loss applicable 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, 2018 2017 2018 2017 Net loss $ (3,923,586 ) $ (2,504,178 ) $ (11,463,927 ) $ (9,053,987 ) Net loss: Non-controlling interest (265,024 ) (203,371 ) (668,219 ) (344,328 ) Net loss attributable to Heat Biologics, Inc. $ (3,658,562 ) $ (2,300,807 ) $ (10,795,708 ) $ (8,709,659 ) Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc.—basic and diluted 23,143,952 3,578,661 14,359,429 3,269,536 Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.16 ) $ (0.64 ) $ (0. 75 ) $ (2.66 ) 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, 2018 2017 Outstanding stock options 465,406 267,355 Outstanding restricted stock units 61,144 29,138 Outstanding common stock warrants 4,430,730 310,397

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax	12. 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. As of September 30, 2018, $0.7 million of the deferred tax asset arising from the generation of 2018 net operating losses has been utilized to offset a portion of the previously recorded deferred tax liability associated with indefinite lived R&D in process costs. Specifically, the current year net operating losses gave rise to an indefinite-lived deferred tax asset which provided sufficient support to offset a portion of the Company’s indefinite-lived deferred tax liability. 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, 2018, and December 31, 2017, 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, 2018, and December 31, 2017, the Company had no such accruals. On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was enacted into law. The Tax Act lowered the Federal corporate tax rate from 34% to 21% for periods beginning on or after January 1, 2018 and made numerous other tax law changes. The Company has measured deferred tax assets at the enacted tax rate expected to apply when these temporary differences are expected to be realized or settled. The Company is required to recognize the effect of tax law changes in the period of enactment. Additional federal and state interpretive guidance is still forthcoming that could potentially affect the measurement of these balances or give rise to new deferred tax amounts. As such, the remeasurement of our deferred tax balance is provisional pending future guidance. The Company reasonably anticipates that any such guidance will be available prior to December 31, 2018.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On October 2, 2018, the Company held its 2018 Annual Meeting of Stockholders (the “Annual Meeting”). At the Annual Meeting, the Company’s stockholders (i) elected the following four individuals as directors: Jeffrey Wolf, John Monahan, Ph.D., Edward B. Smith, III, and John Prendergast, Ph.D.; (ii) ratified and approved the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2018; and (iii) approved and adopted the Company’s 2018 Stock Incentive Plan, which allows the Company to grant up to 4,000,000 awards under the 2018 Stock Incentive Plan. Effective October 31, 2018, the Company entered into an exchange agreement with the University of Miami pursuant to which the Company agreed to issue 35,000 shares of its common stock to the University of Miami in exchange for the return to the Company by the University of Miami of certain shares of capital stock it held in the Company’s subsidiaries, Heat Biologics I, Inc. and Pelican Therapeutics, Inc.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation On January 19, 2018, the Company announced a reverse stock split of its shares of common stock at a ratio of one-for-ten. The reverse stock split took effect at 11 p.m. ET on January 19, 2018, and the Company’s common stock began to trade on a post-split basis at the market open on January 22, 2018. During the Company’s annual stockholders meeting held June 29, 2017, stockholders approved the Company’s reverse stock split and granted the board of directors the authority to implement and determine the exact split ratio within a specified range. When the reverse stock split became effective, every 10 shares of the Company’s issued and outstanding common stock were combined into one share of common stock. Effecting the reverse stock split reduced the number of issued and outstanding common stock from approximately 42 million shares to approximately 4.2 million. It also subsequently adjusted outstanding options issued under the Company’s equity incentive plan and outstanding warrants to purchase common stock. 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 nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2018. The consolidated financial statements as of and for the nine months ended September 30, 2018 and 2017 included in this Quarterly Report on Form 10-Q are unaudited. The balance sheet as of December 31, 2017 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, 2017 filed with the SEC on March 2, 2018 (the “2017 Annual Report”). On April 28, 2017, the Company completed the acquisition of an 80% controlling interest in Pelican Therapeutics, Inc. (“Pelican”), a related party prior to acquisition. Operations of Pelican are included in the consolidated statements of operations and comprehensive loss from the acquisition date. The accompanying consolidated financial statements as of and for the nine months ended September 30, 2018 and 2017 include the accounts of Heat Biologics, Inc. (“the Company”), and its subsidiaries, Heat Biologics I, Inc. (“Heat I”), Heat Biologics III, Inc. (“Heat III”), Heat Biologics IV, Inc. (“Heat IV”), Heat Biologics GmbH, Heat Biologics Australia Pty Ltd. and Zolovax. Additionally, as of the nine months ended September 30, 2018 the accompanying consolidated financials include Pelican. 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. 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 December 31, 2017 and September 30, 2018, the Company held a 92.5% controlling interest in Heat I and an 80% controlling interest in Pelican. All other subsidiaries are wholly owned. For the nine months ended September 30, 2018 the Company recognized $223,487 in net loss non-controlling interest for Heat I and $444,732 in net loss non-controlling interest for Pelican. The Company accounts for its less than 100% interest in these subsidiaries 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 Company has an accumulated deficit of approximately $79.6 million as of September 30, 2018 and a net loss of approximately $11.5 million for the nine months ended September 30, 2018 and has not generated significant revenue or positive cash flows from operations. The Company expects to incur significant expenses and continued losses from operations for the foreseeable future. The Company expects its expenses to increase in connection with its ongoing activities, particularly as the Company continues its research and development and advances its clinical trials of, and seek marketing approval for, its product candidates and as the Company continues to fund the Pelican matching funds required in order to access the CPRIT Grant. In addition, if the Company obtains marketing approval for any of its product candidates, the Company expects to incur significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Accordingly, the Company will need to obtain substantial additional funding in connection with its continuing operations. Adequate additional financing may not be available to the Company on acceptable terms, or at all. If the Company is unable to raise capital when needed or on attractive terms, it would be forced to delay, reduce or eliminate its research and development programs or any future commercialization efforts. To meet its capital needs, the Company intends to continue to consider multiple alternatives, including, but not limited to, additional equity financings such as sales of its common stock under the H.C. Wainwright Sales Agreement if available, debt financings, partnerships, collaborations and other funding transactions. This is based on the Company’s current estimates, and the Company could use its available capital resources sooner than it currently expects. The Company is continually evaluating various cost-saving measures in light of its cash requirements in order to focus resources on its product candidates. The Company will need to generate significant revenues to achieve profitability, and it may never do so. As of September 30, 2018, the Company had approximately $21.0 million in cash and cash equivalents and has sufficient cash on hand to fund its operations one year from date of this filing. In May 2018, through a public offering, the Company raised approximately $18.8 million, net of underwriting discounts and commissions and other estimated offering expenses, and an additional $4.8 million through the exercise of 3,054,667 warrants.
Cash Equivalents and Restricted Cash	Cash Equivalents and Restricted Cash The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Restricted cash consists of deposits held by the US Patent and Trademark Office.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are used for, but not limited to, useful lives of fixed assets, income taxes and stock-based compensation. Actual results may differ from those estimates.
Segments	Segments The Company has one reportable segment - the development of immunotherapies designed to activate and expand a patient's T-cell mediated immune system against cancer.
Business Combinations	Business Combinations The Company accounts for acquisitions using the acquisition method of accounting, which requires that all identifiable assets acquired and liabilities assumed be recorded at their estimated fair values. The excess of the fair value of purchase consideration over the fair values of identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions. Critical estimates in valuing certain intangible assets include but are not limited to future expected cash flows from acquired patented technology. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Other estimates associated with the accounting for acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed (see Note 2).
Goodwill and In-Process Research and Development	Goodwill and In-Process Research and Development The Company classifies intangible assets into three categories: (1) intangible assets with definite lives subject to amortization, (2) intangible assets with indefinite lives not subject to amortization and (3) goodwill. The Company determines the useful lives of definite-lived intangible assets after considering specific facts and circumstances related to each intangible asset. Factors the Company considers when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, and other economic facts; including competition and specific market conditions. Intangible assets that are deemed to have definite lives are amortized, primarily on a straight-line basis, over their estimated useful lives. Intangible assets that are deemed to have indefinite lives, including goodwill, are reviewed for impairment annually on the anniversary of the acquisition, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test for indefinite-lived intangibles, other than goodwill, consists of a comparison of the fair value of the intangible asset with its carrying amount. If the carrying amount exceeds the fair value, an impairment charge is recognized in an amount equal to that excess. Indefinite-lived intangible assets, such as goodwill, are not amortized. The Company will qualitatively test the carrying amounts of goodwill for recoverability on an annual basis or when events or changes in circumstances indicate evidence a potential impairment exists, using a fair value-based test. No impairment existed at September 30, 2018. In-process research and development, or IPR&D, assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development projects. IPR&D assets represent the fair value assigned to technologies that the Company acquires, which at the time of acquisition have not reached technological feasibility and have no alternative future use. During the period that the assets are considered indefinite-lived, they are tested for impairment on an annual basis, or more frequently if the Company becomes aware of any events occurring or changes in circumstances that indicate that the fair value of the IPR&D assets are less than their carrying amounts. If and when development is complete, which generally occurs upon regulatory approval and the ability to commercialize products associated with the IPR&D assets, these assets are then deemed definite-lived and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may have a full or partial impairment charge related to the IPR&D assets, calculated as the excess of carrying value of the IPR&D assets over fair value. No impairment existed at September 30, 2018.
Contingent Consideration	Contingent Consideration Consideration paid in a business combination may include potential future payments that are contingent upon the acquired business achieving certain milestones in the future (“contingent consideration”). Contingent consideration liabilities are measured at their estimated fair value as of the date of acquisition, with subsequent changes in fair value recorded in the consolidated statements of operations. The Company estimates the fair value of the contingent consideration as of the acquisition date using the estimated future cash outflows based on the the Company
Revenue Recognition	Revenue Recognition Effective January 1, 2018, the Company has adopted on a modified retrospective basis Accounting Standards Codification (ASC) Topic 606. The Company’s sole source of current revenue is grant revenue related to the CPRIT Contract, which is being accounted for under ASC 606. ASC 606 introduces a new framework for analyzing potential revenue transactions by identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract, and recognizing revenue when (or as) the Company satisfies a performance obligation. The performance obligations of the CPRIT Contract include developing a human TNFRSF25 agonist antibody for use in cancer patients through research and development efforts and a noncommercial license from CPRIT-funded research to CPRIT and other government agencies and institutions of higher education in Texas. Management has concluded that the license and R&D services should be combined into a single performance obligation as both are highly interdependent - a license cannot be effectively granted without the corresponding research basis and CPRIT cannot benefit from the license without the R&D services and are therefore not capable of being distinct. The CPRIT grant covers a period from June 1, 2017 through October 31, 2019, for a total grant award of up to $15.2 million. CPRIT advances grant funds upon request by the Company consistent with the agreed upon amounts and schedules as provided in the contract. The first tranche of funding of $1.8 million was received in May 2017, and a second tranche of funding of $6.5 million was received in October 2017. The next tranche of funding is expected to be requested and received in the next few months. Funds received are reflected in deferred revenue as a liability until revenue is earned. Grant revenue is recognized when qualifying costs are incurred.
Deferred Revenue	Deferred Revenue As of September 30, 2018, deferred revenue balance is $3.1 million received from CPRIT for which the costs have not been incurred or the conditions of the award have not been met and $0.2 million of grant funds received from an economic development grant agreement with the City of San Antonio (“Economic Development Grant”), for the purpose of defraying costs toward the purchase of laboratory equipment. As of September 30, 2018, $5.2 million was recognized as revenue from CPRIT since the CPRIT contract inception.
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets The Company’s prepaid expenses and other current assets consists primarily of the amount paid in advance for cGMP production of Pelican’s PTX-35 antibody and other Tumor Necrosis Factor Receptor Super Family member 25(“TNFRSF25”) target biologics, as well as Chemistry Manufacturing and Control (“CMC”) material for the Company’s clinical trial studies for HS-110.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent that utilization is not presently more likely than not.
Significant Accounting Policies	Significant Accounting Policies The significant accounting policies used in preparation of these interim financial statements are disclosed in the Company's Form 10-K and have not changed significantly since such filing.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07: Compensation – Stock Compensation (Topic 718) The Company has not determined the impact of this standard and does not plan early adoption of this standard. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805) The Company has not determined the impact of this standard and does not plan early adoption of this standard. In August 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230)—Restricted Cash. ASU 2016-18 requires the statement of cash flows to be a reconciliation between beginning and ending cash balances inclusive of restricted cash balances. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and is to be applied using a retrospective transition method to each period presented. The Company adopted this ASU for the year ending December 31, 2018. The adoption of this standard resulted in the removal of changes in Restricted Cash from the Consolidated Statements of Cash Flows of $2,292 and $98,879 for the nine months ended September 30, 2018 and 2017, respectively and inclusion of these amounts as part of the starting and ending cash balances. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)
Classification of Certain Items Within the Company's Form 10-K	Classification of Certain Items Within the Company’s Form 10-K Certain reclassifications of prior period amounts will be made within the Company’s Form 10-K filing for the year ended December 31, 2018 to conform to current period presentation. Specifically, during the nine months ended September 30, 2018, the Company determined that $200,000 related to deferred revenue should have been classified as long term rather than short term. There is no impact to the consolidated statements of operations or consolidated balance sheets. The Company evaluated the effect of this misclassification and concluded it was not material to any of its previously issued consolidated financial statements.
Immaterial Error Correction	Immaterial Error Correction Certain error corrections will be made within the Company’s Form 10-Q filings for the quarters ended March 31, 2019 and June 30, 2019 to conform to current period presentation. During the nine months ended September 30, 2018, the Company determined that an income tax benefit was required for the quarters ended March 31, 2018 and June 30, 2018. Specifically, the current year net operating losses gave rise to an indefinite-lived deferred tax asset which provided sufficient support to offset up to 80% of the Company’s indefinite-lived deferred tax liability. Accordingly, the income tax benefit for the quarters ended March 31, 2018 and June 30, 2018 were understated by approximately $205,000 and $235,000, respectively. The Company evaluated the effect of this error and concluded it was not material to any of its previously issued consolidated financial statements. Upon revision, the Company will have an income tax benefit of approximately $205,000 and $235,000 for the quarters ended March 31, 2018 and June 30, 2018, respectively. There is no impact of this error for any quarters prior to March 31, 2018.

Acquisition of Pelican Therap_2

Acquisition of Pelican Therapeutics (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed in Acquisition	The purchase price has been allocated to the assets and liabilities as follows: Aggregate consideration: Cash consideration $ 500,000 Stock consideration $ 1,052,000 Contingent consideration $ 2,385,000 Total Consideration $ 3,937,000 Purchase price allocation: Cash acquired $ 31,199 In-process R&D $ 5,866,000 Goodwill $ 2,189,338 Deferred tax liability $ (2,111,760 ) Net liabilities assumed $ (1,102,777 ) Fair value of non-controlling interest $ (935,000 ) Total purchase price $ 3,937,000
Schedule of Pro Forma Financial Information for Acquisition	The following unaudited pro forma information presents the combined results of operations for the nine months ended September 30, 2017, as if the Company had completed the Pelican acquisition at the beginning of fiscal 2017. All expenses for Pelican have been included in the Company’s consolidated financials since the quarter ending September 30, 2017, therefore the nine months ended September 30, 2018 are not pro forma and the three months ended September 30, 2018 and 2017 are not applicable. The pro forma financial information is provided for comparative purposes only for the nine months ended September 30, 2017 and is not necessarily indicative of what actual results would have been had the acquisition occurred on the date indicated, nor does it give effect to synergies, cost savings, fair market value adjustments, immaterial amortization expense and other changes expected to result from the acquisition. Accordingly, the pro forma financial results do not purport to be indicative of consolidated results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period. Nine Months Ended September 30, 2018 2017 Revenue $ 3,735,713 $ 906,313 Net loss (11,463,927 ) (9,444,913 ) Net loss: Non-controlling interest (668,219 ) (422,513 ) Net loss attributable to Heat Biologics, Inc. $ (10,795,708 ) $ (9,022,400 ) Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.75 ) $ (2.65 )

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Level 3 Fair Value Measurements	The following table provides a rollforward of the Company’s Level 3 fair value measurements: Contingent Consideration Balance at December 31, 2017 $ 2,609,289 Change in fair value 665,936 Balance at September 30, 2018 $ 3,275,225
Schedule of Inputs and Valuation Methodologies Used for Fair Value of Contingent Consideration	The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements of contingent consideration classified as Level 3 as of September 30, 2018: Valuation Significant Weighted Average Contingent Consideration Probability weighted Milestone dates 2019-2026 Discount rate 3.9% to 9.3% Probability of occurrence 23% - 86%

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following at: September 30, 2018 December 31, Prepaid manufacturing expense $ 2,026,833 $ 1,551,597 Prepaid insurance 335,583 218,750 Other prepaid expenses 95,320 87,937 Other current assets 20,015 108,973 $ 2,477,751 $ 1,967,257

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: September 30, 2018 December 31, Furniture and fixtures $ 55,883 $ 55,883 Computers 33,096 41,333 Lab equipment 1,189,752 645,433 Total 1,278,731 742,649 Accumulated depreciation (615,666 ) (455,758 ) Property and equipment, net $ 663,065 $ 286,891

Accrued Expenses and other pa_2

Accrued Expenses and other payables (Tables)	9 Months Ended
	Sep. 30, 2018
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Expenses and other payables	Accrued expenses and other payables consist of the following: September 30, December 31, Accrued clinical trial and other expenses $ 1,314,133 $ 1,504,240 Compensation and related benefits 86,038 542,434 Deferred rent 13,349 27,457 Patent fees 35,000 40,000 Other expenses 82,300 162,300 $ 1,530,820 $ 2,276,431

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Stock-based Compensation Tables
Schedule of Stock Option Activity	The following is a summary of the stock option activity for the nine months ended September 30, 2018: Shares Weighted Average Exercise Price Outstanding, December 31, 2017 266,884 $ 19.57 Granted 216,336 3.62 Forfeited (17,814 ) 31.36 Outstanding, September 30, 2018 465,406 $ 11.71
Schedule of Stock Option Valuation Assumptions	The fair value of each stock option was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions for stock options granted during the nine months ended September 30, 2018: Dividend yield 0.0 % Expected volatility 91.38 % Risk-free interest rate 2.44 % Expected lives (years) 6.1
Schedule of Options Outstanding, Vested and Exercisable	The following table summarizes information about stock options outstanding at September 30, 2018: Options Outstanding Options Vested and Exercisable 9/30/2018 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Balance as of 9/30/2018 Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 465,406 8.4 $11.71 180,274 7.3 $22.08

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share	The following table reconciles net loss to net loss attributable to Heat Biologics, Inc.: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Net loss $ (3,923,586 ) $ (2,504,178 ) $ (11,463,927 ) $ (9,053,987 ) Net loss: Non-controlling interest (265,024 ) (203,371 ) (668,219 ) (344,328 ) Net loss attributable to Heat Biologics, Inc. $ (3,658,562 ) $ (2,300,807 ) $ (10,795,708 ) $ (8,709,659 ) Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc.—basic and diluted 23,143,952 3,578,661 14,359,429 3,269,536 Net loss per share attributable to Heat Biologics, Inc.—basic and diluted $ (0.16 ) $ (0.64 ) $ (0. 75 ) $ (2.66 )
Schedule of Potentially Dilutive Securities	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, 2018 2017 Outstanding stock options 465,406 267,355 Outstanding restricted stock units 61,144 29,138 Outstanding common stock warrants 4,430,730 310,397

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Narrative) (Details) - USD ($)	1 Months Ended				3 Months Ended				9 Months Ended
	Jan. 19, 2018	Oct. 31, 2017	May 31, 2017	Jun. 30, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Accumulated deficit					$ 79,642,034				$ 79,642,034		$ 68,846,326
Net loss					3,923,586			$ 2,504,178	11,463,927	$ 9,053,987
Cash and cash equivalents					20,962,319				20,962,319		9,763,067
Revenue					1,840,009			470,823	3,735,713	906,313
Non-controlling interest					265,024			203,371	668,219	344,328
Reimbursable funds									15,200,000
Unearned revenue liability balance									5,200,000
Removal of changes in restricted cash from Consolidated Statements of Cash Flows due to adoption of ASU 2016-18									2,292	98,879
Reverse stock split	When the reverse stock split became effective, every 10 shares of the Company’s issued and outstanding common stock were combined into one share of common stock. Effecting the reverse stock split reduced the number of issued and outstanding common stock from approximately 42 million shares to approximately 4.2 million.
Proceeds from financings									18,800,000
Proceeds from exercise of warrants									$ 4,838,593
Number of warrant exercised									3,054,667
Proceeds from deferred revenue									$ 3,100,000
Grant received for preclinical activities from CPRIT									200,000
Deferred revenue, net of current portion					200,000				200,000		$ 200,000
Understatement of income tax benefit due to immaterial error correction						$ 235,000	$ 205,000
Income tax benefit					225,389	$ 235,000	$ 205,000		665,080
Grant Revenue [Member]
Noncontrolling Interest [Line Items]
Revenue					$ 1,800,000			$ 500,000	3,700,000	$ 900,000
Heat Biologics I, Inc. [Member]
Noncontrolling Interest [Line Items]
Ownership interest in subsidiary											92.50%
Non-controlling interest									$ 223,487
Pelican Therapeutics, Inc. [Member]
Noncontrolling Interest [Line Items]
Percentage of voting interests acquired in acquisition					80.00%			80.00%	80.00%	80.00%
Revenue									$ 15,200,000
Non-controlling interest									444,732
Contract value									7,600,000
Pelican Therapeutics, Inc. [Member] | Grant Revenue [Member]
Noncontrolling Interest [Line Items]
Revenue				$ 15,200,000					$ 3,700,000
Pelican Therapeutics, Inc. [Member] | Second tranche [Member] | Grant Revenue [Member]
Noncontrolling Interest [Line Items]
Revenue		$ 6,500,000
Pelican Therapeutics, Inc. [Member] | First tranche [Member] | Grant Revenue [Member]
Noncontrolling Interest [Line Items]
Revenue			$ 1,800,000

Acquisition of Pelican Therap_3

Acquisition of Pelican Therapeutics (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Accrued liabilities		$ 1,530,820		$ 1,530,820		$ 2,276,431
Goodwill		2,189,338		2,189,338		$ 2,189,338
Revenue		1,840,009	$ 470,823	3,735,713	$ 906,313
Net loss (income)		(3,658,562)	(2,300,807)	(10,795,708)	(8,709,659)
Grant Revenue [Member]
Business Acquisition [Line Items]
Revenue		$ 1,800,000	$ 500,000	$ 3,700,000	$ 900,000
Pelican Therapeutics, Inc. [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired in acquisition		80.00%	80.00%	80.00%	80.00%
Issuance of common stock Pelican, shares				133,106
Percentage of outstanding common shares issued for equity consideration in business acquisition				4.99%
Cash consideration				$ 500,000
Accrued liabilities		$ 200,000		200,000
Fair value of contingent consideration		665,936		665,936
Goodwill		$ 2,189,338		2,189,338
In-process R&D				$ 5,900,000
Percentage of non-controlling interest acquired		20.00%		20.00%
Revenue				$ 15,200,000
Net loss (income)				2,200,000
Contract value				7,600,000
Pelican Therapeutics, Inc. [Member] | Grant Revenue [Member]
Business Acquisition [Line Items]
Revenue	$ 15,200,000			3,700,000
Pelican Therapeutics, Inc. [Member] | Stockholders [Member]
Business Acquisition [Line Items]
Cash consideration				$ 300,000

Acquisition of Pelican Therap_4

Acquisition of Pelican Therapeutics (Future Milestone Payments) (Details) - Pelican Therapeutics, Inc. [Member]	Sep. 30, 2018USD ($)
Business Acquisition [Line Items]
Future milestone payment upon Pelican's dosing of the first patient in its first Phase 1 trial for an oncology indication	$ 2,000,000
Future milestone payment upon Pelican's dosing of the first patient in its first Phase 2 trial for an oncology indication	1,500,000
Future milestone payment upon successful outcome of the first Phase 2 trial for an oncology indication	3,000,000
Future milestone payment upon Pelican's dosing of the first patient in its first Phase 3 trial for an oncology indication	6,000,000
Future milestone payment upon Pelican's dosing of the first patient in its first Phase 3 trial for a non- oncology indication	3,000,000
Future milestone payment upon successful outcome of the first Phase 3 trial for an oncology indication	7,500,000
Future milestone payment upon successful outcome of the first Phase 3 trial for a non-oncology indication	3,000,000
Future milestone payment upon acceptance of a Biologics License Application (BLA) submission for an oncology indication	7,500,000
Future milestone payment upon acceptance of a BLA submission for a non-oncology indication	3,000,000
Future milestone payment upon first product indication approval in the United States or Europe for an oncology indication	7,500,000
Future milestone payment upon first product indication approval in the United States or Europe for a non- oncology indication	$ 3,000,000
Discount rate used for calculation of fair value of contingent consideration	5.51%

Acquisition of Pelican Therap_5

Acquisition of Pelican Therapeutics (Schedule of Purchase Price of Assets and Liabilities) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Purchase price allocation:
Goodwill	$ 2,189,338	$ 2,189,338
Pelican Therapeutics, Inc. [Member]
Aggregate consideration:
Cash consideration	500,000
Stock consideration	1,052,000
Contingent consideration	2,385,000
Total Consideration	3,937,000
Purchase price allocation:
Cash acquired	31,199
In-process R&D	5,866,000
Goodwill	2,189,338
Deferred tax liability	(2,111,760)
Net liabilities assumed	(1,102,777)
Fair value of non-controlling interest	(935,000)
Total purchase price	$ 3,937,000

Acquisition of Pelican Therap_6

Acquisition of Pelican Therapeutics (Schedule of Pro Forma Financial Information for Acquisition) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Business Combinations [Abstract]
Revenue	$ 3,735,713	$ 906,313
Net loss	(11,463,927)	(9,444,913)
Net loss: Non-controlling interest	(668,219)	(422,513)
Net loss attributable to Heat Biologics, Inc.	$ (10,795,708)	$ (9,022,400)
Net loss per share attributable to Heat Biologics, Inc.-basic and diluted	$ (0.75)	$ (2.65)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Schedule of Fair Value Measurements) (Details)	9 Months Ended
	Sep. 30, 2018USD ($)
Fair Value Disclosures [Abstract]
Balance at December 31, 2017	$ 2,609,289
Change in fair value	665,936
Balance at September 30, 2018	$ 2,058,225

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Schedule of Inputs and Valuation Methodologies Used) (Details)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Valuation Methodology	Probability weighted income approach
Significant unobservable input - milestone dates	2019 - 2026
Discount rate - minimum	3.90%
Discount rate - maximum	9.30%
Probability of occurrence - minimum	23.00%
Probability of occurrence - maximum	86.00%

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Schedule of Prepaid Expenses and Other Current Assets) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid manufacturing expense	$ 2,026,833	$ 1,551,597
Prepaid insurance	335,583	218,750
Other prepaid expenses	95,320	87,937
Other current assets	20,015	108,973
Prepaid expenses and other current assets	$ 2,477,751	$ 1,967,257

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total	$ 1,278,731		$ 742,649
Accumulated depreciation	(615,666)		(455,758)
Property and equipment, net	663,065		286,891
Depreciation expense	$ 171,235	$ 100,958
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	$ 55,883		55,883
Computers [Member]
Property, Plant and Equipment [Line Items]
Total	33,096		41,333
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 1,189,752		$ 645,433

Goodwill and In-process R&D (De

Goodwill and In-process R&D (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 2,189,338	$ 2,189,338
Pelican Therapeutics, Inc. [Member]
Business Acquisition [Line Items]
Goodwill	2,189,338
In-process R&D	$ 5,900,000

Accrued Expenses and other pa_3

Accrued Expenses and other payables (Schedule of Accrued Expenses) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Accrued Liabilities, Current [Abstract]
Accrued clinical trial and other expenses	$ 1,314,133	$ 1,504,240
Compensation and related benefits	86,038	542,434
Patent fees	13,349	40,000
Deferred rent	35,000	27,457
Other expenses	82,300	162,300
Accrued expenses	$ 1,530,820	$ 2,276,431

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	May 07, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation				$ 652,746	$ 546,321
Warrants, exercise price	$ 1.584			$ 1.584
Risk free interest rate	2.78%			2.44%
Dividend	0.00%			0.00%
Volatility	124.14%
Expected Term				6 years 1 month 6 days
Weighted average grant-date fair value of stock options granted				$ 2.67
Unrecognized stock-based compensation expense		$ 1,475,129		$ 1,475,129
Unrecognized stock-based compensation expense, recognition period				16 months
Warrants exercised				3,054,667
Number of shares of common stock issuable through warrants	4,750,000
Stock awards granted		465,406		465,406		266,884
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted		61,144		61,144
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 112,730	$ 122,657	$ 354,877	$ 367,800
Restricted Stock [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		27,084	16,314	292,312	152,521
Restricted Stock [Member] | Non Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 800	$ 5,000	$ 5,557	$ 26,000

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Stock Option Activity) (Details)	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Shares
Outstanding, December 31, 2017 | shares	266,884
Granted | shares	216,336
Forfeited | shares	(17,814)
Outstanding, September 30, 2018 | shares	465,406
Weighted Average Exercise Price
Outstanding, December 31, 2017 | $ / shares	$ 19.57
Granted | $ / shares	3.62
Forfeited | $ / shares	31.36
Outstanding, September 30, 2018 | $ / shares	$ 11.71

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule of Stock Option Valuation Assumptions) (Details)	May 07, 2018	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	0.00%	0.00%
Expected volatility		91.38%
Risk-free interest rate	2.78%	2.44%
Expected lives (years)		6 years 1 month 6 days

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstandng Stock Options) (Details)	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Options Outstanding
Balance | shares	465,406
Weighted Average Remaining Contractual Life (Years)	8 years 4 months 24 days
Weighted Average Exercise Price | $ / shares	$ 11.71
Options Vested and Exercisable
Balance | shares	180,274
Weighted Average Remaining Contractual Life (Years)	7 years 3 months 19 days
Weighted Average Exercise Price | $ / shares	$ 22.08

Financing (Details)

Financing (Details) - USD ($)	May 07, 2018	Jul. 23, 2013	Mar. 10, 2011	May 31, 2018	Mar. 23, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Class of Stock [Line Items]
Issuance of common stock, shares						1,545,449
Number of shares of common stock issuable through warrants	4,750,000
Shares issued under offering	4,875,000					14,375,000
Proceeds from sale of common stock	$ 18,800,000			$ 4,800,000		$ 3,866,405	$ 2,463,180
Warrants, expiry period	5 years	5 years			5 years
Warrants, exercise price	$ 1.584					$ 1.584
Exercise of warrants, shares				3,054,667		3,054,667
Common stock issued for conversion of warrants	7,187,500	12,500	1,738		682,500
Warrants expired						12,500
Fair value of common stock	$ 7,800,000					$ 4,647		$ 840
Risk free interest rate	2.78%					2.44%
Dividend	0.00%					0.00%
Volatility	124.14%
Price per share	$ 1.30	$ 125	$ 4.80		$ 10	$ 1.584
Warrants exercised						3,054,667
Warrants outstanding						4,132,833
Stock awards granted						465,406		266,884
Sales Agreement [Member]
Class of Stock [Line Items]
Total value of common stock that can be sold through Common Stock Sales Agreement						$ 3,658,000
Shares issued under offering						1,300,000
Proceeds from sale of common stock						$ 3,700,000
Sale of stock						1,545,449
Warrant [Member]
Class of Stock [Line Items]
Issuance of common stock, shares	2,437,500
Public offering price	$ 0.01
Price per share						$ 10
Stock awards granted						296,159
Common stock warrants [Member]
Class of Stock [Line Items]
Number of shares of common stock issuable through warrants	9,500,000
Public offering price	$ 1.44
Pre funded warrants [Member]
Class of Stock [Line Items]
Public offering price	$ 1.43

Grant and Licensing Revenues (D

Grant and Licensing Revenues (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Deferred Revenue Arrangement [Line Items]
Revenue		$ 1,840,009	$ 470,823	$ 3,735,713	$ 906,313
Deferred revenue, current		3,090,675		3,090,675		$ 6,826,388
Deferred revenue, noncurrent		200,000		200,000		$ 200,000
Pelican Therapeutics, Inc. [Member]
Deferred Revenue Arrangement [Line Items]
Revenue				15,200,000
Grant Revenue [Member]
Deferred Revenue Arrangement [Line Items]
Revenue		$ 1,800,000	500,000	3,700,000	900,000
Grant Revenue [Member] | In-process R&D [Member]
Deferred Revenue Arrangement [Line Items]
Revenue			$ 20,000		$ 20,000
Grant Revenue [Member] | Pelican Therapeutics, Inc. [Member]
Deferred Revenue Arrangement [Line Items]
Revenue	$ 15,200,000			$ 3,700,000

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net loss	$ (3,923,586)	$ (2,504,178)	$ (11,463,927)	$ (9,053,987)
Net loss: Non-controlling interest	(265,024)	(203,371)	(668,219)	(344,328)
Net loss attributable to Heat Biologics, Inc.	$ (3,658,562)	$ (2,300,807)	$ (10,795,708)	$ (8,709,659)
Weighted-average number of common shares used in net loss per share attributable to Heat Biologics, Inc. - basic and diluted	23,143,952	3,578,661	14,359,429	3,269,536
Net loss per share attributable to Heat Biologics, Inc. - basic and diluted	$ (0.16)	$ (0.64)	$ (0.75)	$ (2.66)

Net Loss Per Share (Schedule _2

Net Loss Per Share (Schedule of Antidilutive Securities) (Details) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	465,406	267,355
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	61,144	29,138
Common stock warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	4,430,730	310,397

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized income tax benefits	$ 0	$ 0
Income tax expense accrued	$ 0	$ 0
Corporate tax rate	21.00%	34.00%
Deferred tax asset valuation allowance	$ 700,000

Subsequent Events (Details)

Subsequent Events (Details) - shares	Oct. 31, 2018	Sep. 30, 2018	Oct. 02, 2018
Stock issued in exchange for certain shares of capital stock held by the University of Miami in the Company's subsidiaries		1,545,449
Subsequent Event [Member]
Stock issued in exchange for certain shares of capital stock held by the University of Miami in the Company's subsidiaries	35,000
2018 Stock Incentive Plan [member] | Subsequent Event [Member]
Shares authorized for grant under 2018 Stock Incentive plan			4,000,000