Immix Biopharma Reports $4.54 Million Net Loss in Q1 2025, Highlights Clinical Advancements

Immix Biopharma, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $4.54 million, a decrease from the $5.33 million loss recorded in the same period of 2024. The company attributed this reduction primarily to a significant decrease in research and development expenses, which fell to $1.98 million from $3.25 million year-over-year. This decline was largely due to $1.65 million in reimbursements from the California Institute for Regenerative Medicine (CIRM), which were not present in the prior year. General and administrative expenses increased to $2.71 million, up from $2.34 million, driven by higher compensation costs associated with new hires.

As of March 31, 2025, Immix Biopharma's total assets stood at approximately $19.89 million, down from $22.95 million at the end of 2024. The company's cash and cash equivalents decreased to $15.92 million from $17.68 million, reflecting ongoing operational expenditures. The total liabilities increased to $10.30 million, compared to $9.70 million at the end of the previous fiscal year, primarily due to higher accounts payable and accrued expenses, which rose to $9.24 million from $8.62 million.

Strategically, Immix Biopharma has made significant advancements in its clinical programs, particularly with its lead candidate, NXC-201, which is currently undergoing clinical trials for the treatment of relapsed/refractory AL Amyloidosis. The company has treated 6 patients in its U.S. Phase 1b/2 NEXICART-2 trial and 16 patients in the ex-U.S. Phase 1b/2a NEXICART-1 trial. The FDA granted orphan drug designation to NXC-201 in September 2023, and the company has received a total of $3.6 million in grant reimbursements under the CIRM grant as of April 2025.

Looking ahead, Immix Biopharma anticipates continued operational losses as it advances its clinical programs and seeks regulatory approvals. The company believes its existing cash reserves, along with expected disbursements from the CIRM grant, will be sufficient to fund operations for at least the next 12 months. However, it acknowledges the need for additional capital to support its long-term growth and development plans, which may include equity financing and strategic partnerships. The company remains focused on its mission to develop innovative cell therapies for serious diseases, while navigating the challenges inherent in the biotechnology sector.