Immix Biopharma Reports Increased Net Loss and Rising Operating Expenses for Q2 2025

Immix Biopharma, Inc. reported a net loss of $6.6 million for the three months ended June 30, 2025, compared to a loss of $4.4 million for the same period in 2024. The increase in losses was primarily attributed to higher research and development expenses, which rose to $4.0 million from $2.2 million year-over-year. General and administrative expenses also increased, totaling $2.7 million in the latest quarter, up from $2.5 million in the prior year. The company's total operating expenses for the second quarter of 2025 reached $6.7 million, compared to $4.7 million in the same quarter of 2024.

For the six months ending June 30, 2025, Immix Biopharma reported a net loss of $11.2 million, an increase from $9.7 million in the first half of 2024. The company's total operating expenses for this period were $11.4 million, up from $10.3 million in the previous year. The rise in expenses was driven by increased costs associated with the ongoing Phase 1b/2 clinical trial of its lead candidate, NXC-201, for the treatment of relapsed/refractory AL Amyloidosis. The company also noted a decrease in interest income, which fell to $254,275 for the first half of 2025 from $574,823 in the same period of 2024.

In terms of strategic developments, Immix Biopharma has made significant progress with its clinical programs. The company was awarded an $8 million grant from the California Institute for Regenerative Medicine to support the clinical development of NXC-201. As of June 30, 2025, the company had cash and cash equivalents of approximately $11.6 million, down from $17.7 million at the end of 2024. The company has also entered into an At The Market Offering Agreement, allowing it to sell up to $50 million in common stock, with net proceeds of $1.1 million generated from the sale of 513,935 shares during the second quarter.

Operationally, Immix Biopharma has expanded its clinical trial sites for NXC-201, which is currently being evaluated in multiple trials. The company has treated 10 patients in the U.S. and 16 patients in ex-U.S. trials, with promising results reported at various medical conferences. The company’s total assets as of June 30, 2025, were approximately $15.6 million, with total liabilities of $11.0 million, resulting in stockholders' equity of $4.7 million, a significant decrease from $13.3 million at the end of 2024.

Looking ahead, Immix Biopharma anticipates continued losses as it advances its clinical programs and seeks regulatory approvals. The company has expressed substantial doubt regarding its ability to continue as a going concern without raising additional capital. Management plans to address this by seeking further financing through equity sales and other funding sources, although the availability of such financing is not guaranteed. The company remains focused on its mission to develop innovative cell therapies for serious diseases, particularly AL Amyloidosis, where it aims to establish a strong market presence.