Immix Biopharma (NASDAQ: IMMX)

Last close As at 28/03/2024

USD3.07

0.13 (4.42%)

Market capitalisation

USD74m

Immix Biopharma’s lead asset, IMX-110, is being investigated in a Phase Ib/IIa study for the treatment of soft tissue sarcoma and a Phase Ib trial in advanced solid tumors in combination with tislelizumab. Its preclinical pipeline is based on tissue-specific therapeutics (TSTx) technology.

CAR-T cell therapies have the potential to provide effective treatments for challenging diseases. However, current available options are not considered outpatient treatments due to the risk of serious side effects. If NXC-201 continues to demonstrate a desirable efficacy and safety profile, it could become the first outpatient CAR-T cell therapy.

Latest Insights

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Healthcare | Flash note

Immix Biopharma — Marching towards US clinical trials for NXC-201

Healthcare | Flash note

Immix Biopharma — 2023 recap with a preview of active year ahead

Healthcare | Flash note

Immix Biopharma — Updates galore: NXC-201 ODD (EU) and raise

Healthcare | Flash note

Immix Biopharma — Increased legroom following common-only raise

Scientist using protective robber gloves for handling substances and experiments

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Dr Ilya Rachman

    CEO

  • Gabriel Morris

    CFO

Balance Sheet

Forecast net debt (US$m)

15.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.6) (57.8) 60.7
Relative (5.2) (61.3) 22.6
52 week high/low US$7.3/US$1.6

Financials

Immix Biopharma is closer to dosing its first US patient for lead CAR-T asset NXC-201, with the appointment of the Memorial Sloan Kettering Cancer Center as the main clinical site for the company’s US multi-site NEXICART-2 trial assessing NXC-201 in relapsed/refractory (r/r) amyloid light chain amyloidosis (ALA). NXC-201 targets B-cell maturation antigen (BCMA) and is differentiated by its low neurotoxicity and short cytokine release syndrome (CRS) duration to date, supporting Immix’s long-term aspiration to launch the first outpatient CAR-T therapy. The NEXICART-2 study will aim to reproduce the initial results from the Phase Ib/IIa NEXICART-1 study, which reported an overall response rate (ORR) of 100% for the first 10 patients treated. Top-line data from the first 40 patients in the NEXICART-2 trial are expected in 2025, which, if positive, will likely be followed by a biologic license application, a significant milestone for the Immix. The pipeline remains engaged, with IMX-110 in Phase Ib/IIa studies for solid tumors and NXC-201 also targeting multiple myeloma (MM) and, potentially, other autoimmune indications (starting H124).

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2021A 0.0 (1.4) (1.3) (35.91) N/A N/A
2022A 0.0 (8.2) (7.7) (55.49) N/A N/A
2023E 0.0 (14.4) (12.0) (69.69) N/A N/A
2024E 0.0 (17.8) (17.4) (87.61) N/A N/A

Thematics

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