HEAT BIOLOGICS, INC.: insider trades · United States · SEC (Form 4)

About HEAT BIOLOGICS, INC.

HEAT BIOLOGICS, INC. is a U.S.-listed biotechnology company historically associated with the NASDAQ (ticker HTBX), and it has been followed by investors through its SEC Form 4 insider filings. For French-speaking investors in Europe, the company is best understood as a small-cap U.S. biotech with a classic development-stage risk profile: its valuation has been driven far more by pipeline execution, intellectual-property optionality, and financing capacity than by stable commercial revenues. The company was incorporated in 2008 in Delaware and operated for years from Morrisville, North Carolina, in the Research Triangle / Research Triangle Park life-sciences cluster. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1476963/000155335017000337/htbx_10k.htm?utm_source=openai)) At its core, Heat Biologics was originally built around immunotherapy programs designed to stimulate the immune system against cancer, including T-cell activation approaches. SEC materials describe a pipeline that included programs such as HS-110 and PTX-35, along with a proprietary biologics discovery platform and supporting capabilities in biologics manufacturing, immunoassays, cell-based assays, and biomarker work. The company also explored biodefense-adjacent and vaccine-related opportunities, reflecting a strategy centered on platform technology and multiple shots on goal rather than a single commercial product. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1476963/000155335022000012/htbx_ex99z1.htm?utm_source=openai)) From a competitive standpoint, Heat Biologics operated in one of the most crowded and capital-intensive parts of healthcare: oncology and immunology biotech. Its competitive edge was not scale, but the potential value of differentiated assets, the breadth of its scientific platform, and the possibility of partnering or monetizing programs at key development milestones. As with most clinical-stage biotech names, the main investment risks have been clinical failure, regulatory setbacks, dilution risk, and the need to continuously secure funding for research and development. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1476963/000155335022000012/htbx_ex99z1.htm?utm_source=openai)) Recent corporate history is especially important. SEC filings show that Heat Biologics changed its name to NightHawk Biosciences in 2022, and later to Scorpius Holdings in 2024, as the group evolved away from its original pure-play therapeutic identity and toward a more vertically integrated model including contract development and manufacturing. The company’s SEC disclosures also show the sale of the Elusys Therapeutics assets in late 2023, highlighting an active portfolio reshaping. For investors tracking legacy Form 4 insider activity under the name HEAT BIOLOGICS, INC., this means the historical issuer name may not fully reflect the company’s current corporate form or strategic emphasis. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1476963/000155837023005289/nhwk-20221231x10k.htm?utm_source=openai)) In short, HEAT BIOLOGICS, INC. represents a high-risk, high-optional-value U.S. healthcare investment case rooted in the United States and associated with the NASDAQ. The company’s story has moved from immuno-oncology development toward a broader biologics and manufacturing footprint, making it important to distinguish between its legacy pipeline identity and its more recent corporate transformation when interpreting insider transactions and market disclosures. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1476963/000155335022000012/htbx_ex99z1.htm?utm_source=openai))