Immix Biopharma stock advances as H.C. Wainwright reiterates Buy rating

Investing.com - Immix Biopharma , Inc. (NASDAQ:IMMX), currently trading at $2.62 with a market capitalization of $73 million, received a vote of confidence as H.C. Wainwright reiterated its Buy rating and $7.00 price target on the stock.

The research firm highlighted Immix’s recent announcement regarding accelerated progress in its U.S. NEXICART-2 clinical trial, which is evaluating NXC-201 for relapsed/refractory AL amyloidosis.

NXC-201 is a sterically-optimized B cell maturation antigen (BCMA)-targeted chimeric antigen receptor T (CAR-T) cell therapy with a digital filter designed to eliminate non-specific activation.

The company reported that NEXICART-2 now includes 18 clinical trial sites nationwide, which H.C. Wainwright believes should facilitate acceleration of enrollment.

H.C. Wainwright noted that these additional new sites further advance Immix’s path to Biologics License Application submission to facilitate FDA approval, supporting the firm’s 12-month price target of $7.

In other recent news, Immix Biopharma, Inc. has reported significant progress in its NEXICART-2 clinical trial for its cell therapy candidate NXC-201, aimed at treating relapsed/refractory AL amyloidosis. The trial has expanded to 18 sites across the United States, aiming to increase patient access. Interim results presented at the American Society for Clinical Oncology conference showed a 100% response rate among ten participants, with a complete response rate of 70%. The trial’s safety profile is promising, with no severe cytokine release syndrome or neurotoxicity observed. Immix Biopharma plans to submit a Biologics License Application for FDA approval based on these findings. Additionally, H.C. Wainwright has reaffirmed its Buy rating for Immix Biopharma, maintaining a price target of $7.00, citing the trial’s positive results. The company also announced an At The Market Offering Agreement with Citizens JMP Securities, LLC, allowing it to sell shares of its common stock. These developments highlight the ongoing advancements and financial strategies of Immix Biopharma in the biopharmaceutical sector.

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