Heat Biologics expects to go public today, becoming the latest in a number of Research Triangle-area firms to execute an Initial Public Offering this year.

It looks to raise $25 million.

Heat Biologics priced its shares at $10 each and is selling 2.5 million.

Earlier, the firm had hoped to price shares as high as $12.

Shares are expected to list on the Nasdaq at the opening of trading today under the symbol HTBX.

Underwriters have the option to purchase another 375,000 shares over the next 45 days.

Aegis Capital and Cantor Fitzgerald & Cp. are working with Heat Biologics on the IPO. 

The company plans to use proceeds from the offering to advance two experimental cancer treatments in clinical trials.

Heat Bio has developed a way to prompt a patient’s own immune system to fight cancer. Its proprietary technology is dubbed “ImPACT,” which stands for Immune Pan-Antigen Cytotoxic Therapy. ImPACT works by genetically modifying cancer cells so they release a protein called gp96. This protein triggers the release of the patient’s own T cells, the cells that play a key role in an immune response, to fight the cancer. Heat Bio’s technology is licensed from the University of Miami, where it was originally developed.

Heat has two clinical stage cancer therapies. HS-110, Heat’s immunotherapy candidate for non-small cell lung cancer, has completed phase I clinical trials. HS-410 is ready to start a combined phase I and II trial in bladder cancer.