Immix Biopharma completes $100 million stock offering

Immix Biopharma Inc. (NASDAQ: IMMX) closed an underwritten public offering that raised approximately $93.7 million in net proceeds after deducting underwriting fees and expenses.

The company sold 19,117,646 shares of common stock at $5.10 per share and issued pre-funded warrants to purchase 490,196 shares at $5.09 per warrant to certain investors. The warrants carry an exercise price of $0.01 per share.

The financing attracted participation from biotechnology institutional investors and mutual funds, according to the company's statement. Morgan Stanley served as sole book-running manager, while Citizens Capital Markets and Mizuho acted as co-managers.

The securities were offered under a shelf registration statement filed with the Securities and Exchange Commission in January 2023. The registration statement became effective on January 11, 2023.

Immix Biopharma develops treatments for AL amyloidosis, a condition where the immune system produces toxic light chains that accumulate in organs. The company's lead candidate, NXC-201, is a CAR-T cell therapy currently being evaluated in a multi-center U.S. study called NEXICART-2 for patients with relapsed or refractory AL amyloidosis.

The Food and Drug Administration has granted NXC-201 Regenerative Medicine Advanced Therapy designation and Orphan Drug Designation. The therapy has also received Orphan Drug Designation from the European Medicines Agency.

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