|Bid||0.3500 x 300|
|Ask||0.7000 x 3700|
|Day's Range||0.5002 - 0.5390|
|52 Week Range||0.4600 - 3.3500|
|PE Ratio (TTM)||-1.05|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In the wake of a strategy pivot that will see Durham’s Heat Biologics (HTBX) focus on combination therapies for the treatment of cancer – specifically, with checkpoint inhibitors or T cell co-stimulators – company stockholders have approved a plan to allow the board to call for a reverse stock split. The consideration of the reverse stock split, or reducing the number of shares outstanding to boost stock price, comes at a time when Heat is in threat of delisting from the Nasdaq exchange for failing to maintain a minimum closing bid price of $1.00. The company faced a similar situation last year, but managed to rectify it without the use of a reverse stock split .
Along with its first quarter results, Durham’s Heat Biologics (HTBX) has outlined a new strategy focusing on combination therapies for the treatment of cancer – specifically, with checkpoint inhibitors or T cell co-stimulators – alone. The strategy comes at a time when the company has seen positive data from its ongoing Phase 2 trial of HS-110 for the treatment of lung cancer in combination with Bristol-Myers Squibb checkpoint inhibitor nivolumab,according to Heat CEO Jeff Wolf said Thursday. Heat Biologics plans to discontinue its other clinical program for the treatment of non-muscle invasive bladder cancer, along with additional preclinical programs, in order to focus those resources on combination programs, he says.
Durham’s Heat Biologics (HTBX) has completed its acquisition of Austin, Texas-based immuno-oncology company Pelican Therapeutics, in a cash-and-stock deal valued at about $1.5 million . "We’ve been following Pelican and thinking about [the acquisition] for quite a while," said Heat CEO Jeff Wolf in an interview at the time of the deal’s announcement in March. "Pelican's two product candidates strengthen our portfolio in the emerging T cell activation space,” said Wolf in a statement, regarding the deal’s closing.