Heat Biologics, Inc. Reports 2013 Fourth Quarter and Full Year Financial Results

CHAPEL HILL, NC--(Marketwired - Apr 1, 2014) - Heat Biologics, Inc. ("Heat Biologics", "Heat" or the "Company")  (NASDAQ: HTBX), a clinical stage biopharmaceutical company focused on the development of novel cancer immunotherapies, announced today its financial results for the fourth quarter and full year ended December 31, 2013 and provided a review of the Company's quarterly highlights and recent corporate developments and clinical trial progress for its two lead product candidates, HS-110 for the treatment of non-small cell lung cancer (NSCLC) and HS-410 for the treatment of bladder cancer.

FOURTH QUARTER 2013 HIGHLIGHTS AND RECENT DEVELOPMENTS

• Submitted revised protocol to FDA for Phase 2 clinical study of HS-110 for treatment of NSCLC and expects to begin patient enrollment in third quarter 2014;
• Reported promising preclinical data on first-head-to-head comparison of Heat's ImPACT immunotherapy in combination with T cell costimulators;
• Appointed oncology immunotherapy expert, Taylor H. Schreiber, M.D., Ph.D., as Vice President of Research and Development;
• Commenced dosing in Phase 1/2 clinical studies of HS-410 for the treatment of bladder cancer and expect to report immune response data in second half 2014;
• Formed a Clinical Advisory Board of preeminent immunotherapy and oncology leaders with Justin Stebbing, M.D., Ph.D., serving as Chairman and Chief Medical Advisor; and
• Appointed oncology biotechnology industry veteran Anil K. Goyal, Ph.D., as Vice President of Business Development.

"We accomplished multiple key milestones in 2013 which we believe were critical in setting the stage for an exciting 2014. Importantly, we assembled a world-class management team and formed a clinical advisory board with leading key opinion leaders in immunotherapy and oncology. This team was highly focused on preparing to commence our HS-410 Phase 1/2 bladder cancer study and worked tirelessly in redesigning the Phase 2 NSCLC protocol in an effort to explore Heat's HS-110 therapeutic vaccine as a single agent, but also its potential in future combination therapy with checkpoint inhibitors, the next generation of oncology treatment," said Jeff Wolf, Chief Executive Officer of Heat Biologics.