Immix Biopharma closes $150 million stock offering

Immix Biopharma Inc. (NASDAQ: IMMX) announced the completion of an underwritten public offering that raised approximately $140.65 million in net proceeds. The company sold 16,778,524 shares of common stock at $8.94 per share.

The biotechnology company said the financing included participation from leading U.S. biotechnology institutional investors and mutual funds. Morgan Stanley served as lead book-running manager, with BofA Securities acting as book-running manager. LifeSci Capital, Mizuho and Needham & Company served as co-lead managers.

The securities were offered through a shelf registration statement filed with the Securities and Exchange Commission on January 9 and declared effective on January 22. The offering was conducted as a registered public offering under existing SEC registration.

Immix Biopharma focuses on developing treatments for AL Amyloidosis, a condition where the immune system produces toxic light chains that can cause organ failure. The company's lead candidate is NXC-201, a BCMA-targeted CAR-T cell therapy currently being evaluated in a U.S. multi-center study for relapsed/refractory AL Amyloidosis.

The treatment candidate has received Breakthrough Therapy Designation and Regenerative Medicine Advanced Therapy designation from the FDA, as well as Orphan Drug Designation from both the FDA and the European Medicines Agency.

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