On June 14, 2023 Immix Biopharma, Inc., (Nasdaq:IMMX) ("ImmixBio", "Company", "We" or "Us"), a biopharmaceutical company pioneering CAR-T cell therapies and tissue specific therapeutics targeting oncology and immuno-dysregulated diseases, reported that it has completed its previously announced "at-the-market" equity offering program (the "ATM Offering") (Press release, Immix Biopharma, JUN 14, 2023, View Source [SID1234632699]).
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"We are delighted to complete the $5 million common stock ATM offering. We believe the terms were favorable to investors in a turbulent market environment. Further, we would like to welcome Bridgewest to our institutional investor syndicate. We are focused on continued efficient execution of our clinical development plans: NEXICART-1 for NXC-201, which we believe is the world’s first out-patient CAR-T in multiple myeloma and AL amyloidosis, and our IMX-110 clinical trials including IMMINENT-01 combination trial with BeiGene’s anti-PD-1 antibody," said Ilya Rachman, MD PhD, Chief Executive Officer, Immix Biopharma.
ImmixBio disclosed on March 22, 2023 that it filed a prospectus supplement with the U.S. Securities and Exchange Commission to offer and sell shares of the Company’s common stock having an aggregate offering price of up to $5,000,000 from time to time through the ATM Offering. The Company ultimately sold 2,263,868 shares of common stock and generated aggregate gross proceeds before commissions and offering expenses of approximately $5,000,000. ThinkEquity acted as agent for the ATM.
The Company intends to use net proceeds from the ATM Offering for its IMX-110 + tislelizumab Phase 1b combination clinical trial, its IMX-110 monotherapy clinical trial, and general corporate purposes.