Drug development company Heat Biologics Inc. reported a larger-than-expected second quarter loss due to higher research and development expenses.

The Durham-based company reported a loss of $4.1 million, or 27 cents per share, in the second quarter, up from a loss of $3.2 million, or 91 cents per share, in the same quarter a year ago. Analysts were expecting a loss of 18 cents per share.

Revenue for the quarter was $1.1 million, up from $411,000 in the second quarter of 2017 and higher than the analyst estimate of $960,000.

Research and development expenses rose 59 percent to $3.5 million in the quarter from $2.1 million in the quarter a year ago. Heat Biologics is developing drugs designed to activate a patient’s immune system against cancer.

“Each of our therapies is designed to enhance the response rate for patients least likely to respond to checkpoint inhibitors through a combination treatment that enhances the immune defense mechanisms,” said Chief Executive Officer Jeff Wolf in a statement.

The company’s shares rose 2 cents to $2.04 in Tuesday morning trading.

Heat Biologics said it expects to report additional interim phase 2 data on its HS-110 drug. It also plans to file an investigational new drug application for another drug in the fourth quarter and a second invsestigational new drug application for a third drug in the first quarter of 2019.

The company raised $20.7 million in the second quarter and also generated another $4.8 million by exercising warrants. It also expends to receive $6.9 million in grant funds from the Cancer Prevention Research Institute of Texas in the third quarter.

Wolf said that money “should provide us sufficient capital to advance our clinical programs and achieve a number of major milestones through the end of 2019.”