Immix Biopharma, Inc.
IMMX · Pharmaceutical Preparations · 54.4M shares · +43%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$3M (gross $100K, SBC $3M)
Reference price $6.67 · est. market cap ~$363M — last insider purchase, 2025-12-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — oncology/immunology clinical, very cash-rich.
Strengths
- Liquidity — current ratio 10.0 (78th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Cash burnNegative free cash flow (-24.7M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Chronic dilutionShare count +43%/yr over 2y (dilution)
- Strong balance sheetStrong balance sheet — $100M cash & investments, ~16 quarters of runway
- Notable holderHeld by 3 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC (as of 2026-03-31)
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
Key metrics
Return on assets
-28.1%
Current ratio
10.0×
Free cash flow
-$25M
Cash & investments
$100M
Cash runway
16q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | Ng Carey | Grant | 6.2K | — |
| 2026-05-22 | Adams Helen C. | Grant | 6.2K | — |
| 2026-05-22 | Marquet Magda | Grant | 6.2K | — |
| 2026-05-22 | CHANG NANCY T | Grant | 6.2K | — |
| 2026-05-22 | Chudnovsky Yekaterina | Grant | 6.2K | — |
| 2026-05-22 | BUCHAN JANE | Grant | 6.2K | — |
| 2026-05-22 | Hsu Jason | Grant | 6.2K | — |
| 2025-12-10 | Rachman Ilya M | Buy | 746 | $6.67 |
| 2025-12-10 | Morris Gabriel S | Buy | 770 | $6.58 |
| 2025-12-08 | Morris Gabriel S | Option exercise | 156K | $0.80 |
| 2025-09-17 | Rachman Ilya M | Buy | 2.5K | $2.02 |
| 2025-09-16 | Morris Gabriel S | Buy | 2.6K | $1.97 |
| 2025-06-18 | Morris Gabriel S | Buy | 2.2K | $2.28 |
| 2025-06-18 | Rachman Ilya M | Buy | 2.2K | $2.29 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05840835 ↗ | Study of IMX-110 in Combination With Tislelizumab in Patients With Advanced Solid Tumors Advanced Solid Tumor | PHASE1/PHASE2 | Unknown | 2024-01-24 |
| NCT03382340 ↗ | IMX-110 in Patients With Advanced Solid Tumors Solid Tumor, Adult, Advanced Solid Tumors | PHASE1/PHASE2 | Unknown | 2023-10-31 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-29 | Shareholder vote | filing ↗ |
| 2026-05-21 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-21 | OtherExhibits | filing ↗ |
| 2026-03-30 | Reg FDOtherExhibits | filing ↗ |
| 2026-03-25 | Material agreementExhibits | filing ↗ |
| 2025-12-08 | Reg FDOtherExhibits | filing ↗ |
| 2025-12-08 | Material agreementExhibits | filing ↗ |
| 2025-11-26 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-29 | 2026-05-22 | 0001493152-26-026431 ↗ |
| 8-K | 2026-05-21 | 2026-05-21 | 0001493152-26-024872 ↗ |
| 8-K | 2026-05-21 | 2026-05-21 | 0001493152-26-024707 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001493152-26-021764 ↗ |
| 8-K | 2026-03-30 | 2026-03-30 | 0001493152-26-013663 ↗ |
| 10-K/A | 2026-03-27 | 2025-12-31 | 0001493152-26-013298 ↗ |
| 10-K | 2026-03-25 | 2025-12-31 | 0001493152-26-012714 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0001493152-26-012721 ↗ |
| 8-K | 2025-12-08 | 2025-12-07 | 0001493152-25-026500 ↗ |
| 8-K | 2025-12-08 | 2025-12-07 | 0001493152-25-026697 ↗ |
| 8-K | 2025-11-26 | 2025-11-26 | 0001493152-25-025182 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0001493152-25-021325 ↗ |