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NightHawk Biosciences (NHWK) announced its third-quarter updates for 2022, reporting $6 million in revenue, primarily from ANTHIM sales to Canada's National Emergency Strategic Stockpile. The company is shifting focus from oncology to enhance its biomanufacturing capabilities through its Elusys and Scorpion subsidiaries. Despite this strategic pivot, net losses increased to approximately $13 million for the quarter, up from $7.4 million the previous year. NightHawk had $57.4 million in cash at the end of Q3 2022.
Nighthawk Biosciences (NHWK) has announced the grand opening of its Scorpion subsidiary's San Antonio facility on October 21, 2022. The company has received positive FDA feedback concerning its operational strategies, enhancing its biomanufacturing capabilities. Additionally, Scorpion has secured a commercial contract to support a biopharmaceutical company's Phase 3 asset development. The global pharmaceutical CDMO market is projected to expand significantly, indicating potential growth opportunities for Nighthawk.
NightHawk Biosciences (NYSE American: NHWK) has announced the construction of a state-of-the-art biosafety level 2 (BSL-2) laboratory in Research Triangle Park, North Carolina. This facility aims to enhance the company's research capabilities in biodefense and infectious disease. CEO Jeff Wolf emphasized its ability to handle high-priority pathogens and develop medical countermeasures against biological threats. The laboratory's advanced safety features will support preclinical studies for vaccines and therapeutics targeting bacterial and viral pathogens.
NightHawk Biosciences (NYSE American: NHWK) reported its second quarter financial results, highlighting a decrease in contract revenue to $0.05 million from $0.5 million in the same period last year. R&D expenses rose to $4.7 million, driven by clinical trials and integration costs, while general and administrative expenses increased to $4.9 million. The net loss widened to approximately $10.2 million, or ($0.40) per share. NightHawk is advancing its biopharmaceutical capabilities, with a new manufacturing facility in San Antonio and ongoing clinical programs, including a contract to deliver ANTHIM® to Canada.
DURHAM, N.C., June 13, 2022 (GLOBE NEWSWIRE) -- NightHawk Biosciences (NYSE American: NHWK) announced Dr. Stephan Kutzer as Interim CEO of Scorpion Biological Services. Dr. Kutzer, with over 25 years in the pharmaceutical sector, aims to lead Scorpion through its next growth phase amid the ongoing development of biomanufacturing facilities in San Antonio and Manhattan, Kansas. His extensive background includes leadership roles at Alcami Corporation and Lonza Group AG, which generated over $1.6 billion in annual sales. This appointment reflects NightHawk's ambition to expand its capabilities in cell and gene therapies.
NightHawk Biosciences (NHWK) reported first-quarter updates for 2022, highlighting significant advancements in its transformation to a fully integrated biopharmaceutical company. Key developments include the acquisition of Elusys Therapeutics, enhancing its biodefense offerings with ANTHIM®, and securing an international contract with Canada. Financially, grant revenue decreased to $0.2 million, while R&D expenses rose to $3.9 million. The company reported an $8.1 million net loss and has $84.1 million in cash reserves as of March 31, 2022.
On May 10, 2022, NightHawk Biosciences (NYSE American: NHWK) announced that Dr. Matthew Seavey will present data on PTX-35 at the 4th Annual Treg Directed Therapies Summit from May 17-19 in Boston. PTX-35 is a novel antibody immunomodulator targeting TNFRSF25, currently undergoing Phase 1 trials for solid tumors. The presentation will cover Treg expansion for treating human diseases. The event highlights include showcasing preclinical efficacy and exploring new indications and partnerships for Treg therapies.
Nighthawk Biosciences, previously Heat Biologics, has officially changed its name and ticker symbol to NHWK on May 3, 2022. This rebranding reflects the company's transition to a fully integrated biopharmaceutical firm focused on drug development. Nighthawk aims to streamline the drug discovery process through its ecosystem of subsidiaries, enhancing capabilities in manufacturing and biodefense. CEO Jeff Wolf emphasized that the name change aligns with their strategy to efficiently move drugs from discovery to commercialization, without impacting shareholder rights or share structure.
Heat Biologics (HTBX), to be renamed NightHawk Biosciences, announced a CAD $7.9 million contract with the Canadian government for the supply of ANTHIM®, a treatment for inhalation anthrax, marking the company’s first international sale. This agreement, following the acquisition of Elusys Therapeutics, aims to enhance Canada’s emergency preparedness against potential anthrax biothreats. Notably, Elusys has secured over $400 million in contracts from U.S. agencies, which supports its credibility in biodefense.
Heat Biologics, Inc. (HTBX), soon to be renamed NightHawk Biosciences, has completed its acquisition of Elusys Therapeutics, Inc., a biodefense company known for ANTHIM® (obiltoxaximab), a treatment for inhalation anthrax. The acquisition enhances NightHawk's biodefense capabilities and includes plans to move ANTHIM® manufacturing to a new facility in Kansas. Elusys has secured over $350 million in funding from government bodies like BARDA. The strategic acquisition aims to leverage existing distribution channels and expand ANTHIM®'s international reach.
