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Immix Biopharma Inc. (IMMX-2.85%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Immix's focus on developing cell therapies for AL Amyloidosis and select immune-mediated diseases, with its lead candidate NXC-201 currently in clinical trials.
The company reported a net loss of $21,698,363 for the year, compared to $15,595,522 in the previous year, primarily due to increased research and development expenses.
Immix's research and development expenses rose to $11,292,702 from $8,735,031, reflecting ongoing clinical trials and related activities.
General and administrative expenses increased to $11,381,978 from $7,406,082, attributed to expanded investor relations and professional services.
The company raised $15.5 million through a public offering in early 2024 and received $3.6 million in grant reimbursements from the California Institute for Regenerative Medicine.
Immix reported cash and cash equivalents of $17,681,954 as of December 31, 2024, and anticipates that these funds, along with expected grant disbursements, will support operations for at least 12 months.
The company entered into a long-term lease for manufacturing space in California, with total lease payments of $1.6 million through December 2033.
Immix continues to focus on its N-GENIUS platform for cell therapy development and has several patent applications pending globally.
The filing also notes risks related to financial position, regulatory approvals, and market acceptance of its product candidates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Immix Biopharma Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.