Heat Biologics Suspends Proposed Common Stock Public Offering The Day After Announcing It

By Emma Court Markets MarketWatch Pulse

Heat Biologics Inc. said Friday that just 16 hours after it announced a planned public offering of common stock shares, it would instead explore "alternative options." Shares of the biotech dropped 7.9% in pre-market trade after the news. As of the end of March, Heat Biologics had cash, cash equivalents and short-term investments equal to about $11.8 million, and expects topline data for two cancer drugs in the fourth quarter of 2016. Heat Biologics shares rose 27.3% over the last three months, compared with a 3.5% rise in the S&P 500 .

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