Heat Biologics Announces Planned Name Change To NightHawk Biosciences; Will Trade Under Ticker 'NHWK' Effective May 3, 2022

Heat Biologics, Inc. ("Heat") (NYSE American: HTBX), a clinical-stage biopharmaceutical company focused on developing novel biodefense assets and first-in-class therapies to modulate the immune system, today announced that it is changing the name of the Company to NightHawk Biosciences, Inc., effective May 3, 2022, to better reflect the Company's evolution, including expansion of its therapeutic pipeline, the vertical integration of capabilities from drug discovery to manufacturing and commercialization, as well as the Company's new biodefense capabilities. In connection with the name change, the Company's ticker will change to "NHWK," effective May 3, 2022. The livestream event, held at the Purple Masque Theatre at Kansas State University in Manhattan, Kansas and other locations, is available on the Company's new website at: NightHawkBio.com.
 

NightHawk will focus on rapid and efficient drug development through its integrated ecosystem of subsidiary companies, which includes Skunkworx Bio (Skunkworx), Heat Biologics (Heat), Pelican Therapeutics (Pelican), Scorpion Biological Services (Scorpion) and Elusys Therapeutics (Elusys). The Company believes this fully-integrated ecosystem enables a more rapid delivery of medical innovations with increased quality and efficiency.

During the event, the Company announced several key corporate developments, including:

• Discovery subsidiary Skunkworx continues to make progress across a variety of infectious disease, biodefense and oncology-related indications, with an intended public announcement of these programs set to occur later this year.
• Scorpion is expected to host the grand opening of its San Antonio facility following completion of construction in Q3, 2022.
• PTX-35 is nearing final enrollment in its last cohort of its Phase 1 solid tumor trial, and just recently announced a presentation of new data at the American Association of Cancer Research (AACR).
• A planned research collaboration with Kansas State University's Biosecurity Research Institute on its RapidVax biodefense program.
• Expanded efforts by biodefense Elusys Therapeutics to support international sales of ANTHIM® (obiltoxaximab). ANTHIM® is indicated in adult and pediatric patients for the treatment of inhalational anthrax due to Bacillus anthracis in combination with appropriate antibacterial drugs, and for prophylaxis of inhalational anthrax when alternative therapies are not available or are not appropriate. ANTHIM® should only be used for prophylaxis when its benefit for prevention of inhalational anthrax outweighs the risk of hypersensitivity and anaphylaxis. Additional details are available at https://anthim.com/
• Richard Myers, who previously served as the Chairman of the Joint Chiefs of Staff before serving as President of Kansas State University, will become Chairman of NightHawk's BioThreat Advisory Board.

Jeff Wolf, Chief Executive Officer of NightHawk, commented, "Over the past 18 months, we've built a powerful drug discovery engine in our SkunkWorx subsidiary. We've been building our Scorpion subsidiary to deliver world-class biomanufacturing. And we announced the acquisition of Elusys Therapeutics, a biodefense company, which we intend to grow into a biodefense powerhouse."

Mr. Wolf added, "The pandemic highlighted the fact that the development of new drugs is tremendously slow, encumbered, and expensive. These are enormous barriers to American progress. We believe the solution is full integration of discovery, preclinical testing and manufacturing, optimized to quickly and efficiently deliver drugs to the people who need them."

Mr. Wolf continued, "The NightHawk model represents a new way of thinking and is designed to combine speed and agility with the full-integration of discovery, development and manufacturing. We are excited to continue to build and enhance this ecosystem under the NightHawk banner."