Immix Biopharma Announces Closing of Upsized $100 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

Rhea-AI Summary

Immix Biopharma (NASDAQ:IMMX) announced the closing of an upsized underwritten registered offering on Dec 9, 2025 consisting of 19,117,646 shares of common stock at $5.10 per share and 490,196 pre-funded warrants at $5.09 each.

Net proceeds to the company after underwriting discounts, commissions and offering expenses were approximately $93.7 million. The financing included leading U.S. biotechnology institutional investors and mutual funds, with Morgan Stanley as sole book‑running manager and Citizens Capital Markets and Mizuho as co‑managers.

The securities were offered under a shelf registration statement (Form S-3, File No. 333-269100) declared effective Jan 11, 2023; a prospectus supplement was filed with the SEC and is available on the SEC website.

Positive

• Net proceeds of approximately $93.7 million
• 19,117,646 common shares sold in the registered offering
• Participation by leading U.S. biotechnology institutional investors and mutual funds

Negative

• Issuance of 19,117,646 shares plus 490,196 pre-funded warrants may dilute existing shareholders
• Underwriting discounts, commissions and offering expenses reduced gross proceeds to $93.7 million

Key Figures

Common shares offered 19,117,646 shares Underwritten registered offering

Offering price $5.10 per share Price to the public for common stock

Pre-funded warrants 490,196 warrants Pre-funded warrants issued in lieu of common stock

Warrant price $5.09 per pre-funded warrant Price to the public for pre-funded warrants

Warrant exercise price $0.01 per share Exercise price for each pre-funded warrant

Net proceeds $93.7 million Net to IMMX after discounts and expenses

Offering size (headline) $100 million Upsized underwritten offering amount

Market Reality Check

$6.60 Last Close

Volume Volume 2,886,793 is 2.63x the 20-day average of 1,096,996 shares. high

Technical Price $6.60 is trading above the 200-day MA $2.48.

Peers on Argus

IMMX moved with elevated volume while peers showed mixed moves: ACET +2.15%, NRXP +3.52%, and declines in BYSI -3%, IGMS -2.31%, OSTX -1.01%, suggesting a stock-specific reaction.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 07	Equity offering pricing	Positive	+10.6%	Upsized $100M offering priced with detailed use-of-proceeds for NXC-201.
Dec 07	Clinical results	Positive	+10.6%	Positive Phase 2 NXC-201 data with high CR rates and planned BLA.
Nov 12	Management change	Positive	+15.2%	Appointment of Chief Commercial Officer to lead NXC-201 U.S. launch.
Nov 03	Conference/clinical	Positive	-4.2%	NXC-201 trial interim data selected for oral presentation at ASH 2025.
Oct 14	Investor conference	Neutral	-0.8%	Participation in Guggenheim healthcare innovation conference and investor meetings.

Pattern Detected

Recent news, including offerings and clinical updates, has often been followed by positive price reactions, with only one notable divergence on an earlier ASH-related announcement.

Recent Company History

Over the past six months, IMMX has reported several material events, including an upsized $100 million offering priced on Dec 7, 2025, positive Phase 2 NXC-201 results at ASH 2025, and appointment of a Chief Commercial Officer to prepare for NXC-201 commercialization. Earlier, an ASH oral presentation selection and a Guggenheim conference appearance highlighted growing visibility. The current offering closing formalizes capital raised under the previously priced transaction and follows a pattern of financing alongside advancing NXC-201.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-10-06

IMMX has an active Form S-3 shelf registration dated Oct 6, 2025, enabling it to issue securities over time using a base prospectus and supplements. The current underwritten offering was conducted under a separate Form S-3 shelf (File No. 333-269100) referenced in the press release.

Market Pulse Summary

This announcement confirms the closing of IMMX’s upsized $100 million underwritten offering, delivering net proceeds of about $93.7 million through 19,117,646 common shares and 490,196 pre-funded warrants. It follows prior disclosures of constrained liquidity and going-concern risk, so the added capital is a key milestone. Investors may track how quickly funds are deployed, the impact of dilution, and future activity under the company’s Form S-3 shelf registrations.

Key Terms

underwritten registered offering financial

"announced the closing of its previously announced underwritten registered offering of 19,117,646 shares"

An underwritten registered offering is a public sale of a company’s securities that has been officially filed with regulators and is sold through one or more investment banks that agree to buy the securities and resell them to investors. Think of it like a store hiring a wholesaler who guarantees to buy the stock on the shelf so the store can raise cash immediately; for investors it signals structured distribution but can dilute existing shares and affect market price depending on size and demand.

pre-funded warrants financial

"pre-funded warrants to purchase 490,196 shares of common stock at a price to the public of $5.09"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

shelf registration statement regulatory

"pursuant to a “shelf” registration statement on Form S-3 (File No. 333-269100)"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

"registration statement on Form S-3 (File No. 333-269100), including a base prospectus"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

"A prospectus supplement and accompanying prospectus describing the terms of the registered offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. Not financial advice.

– Financing includes leading U.S. biotechnology institutional investors and mutual funds –

LOS ANGELES, CA, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Immix Biopharma, Inc. (“ImmixBio”, “Company”, “We” or “Us” or ”IMMX”), a global leader in relapsed/refractory AL Amyloidosis, today announced the closing of its previously announced underwritten registered offering of 19,117,646 shares of its common stock at a price to the public of $5.10 per share, and to certain investors in lieu of common stock, pre-funded warrants to purchase 490,196 shares of common stock at a price to the public of $5.09 per pre-funded warrant, which represents the per share public offering price for the common stock, less the $0.01 per share exercise price for each such pre-funded warrant. The net proceeds to Immix from the offering, after deducting the underwriting discounts, commissions and other offering expenses, were approximately $93.7 million.

The financing includes leading U.S. biotechnology institutional investors and mutual funds.

Morgan Stanley acted as the sole book-running manager for the offering. Citizens Capital Markets and Mizuho acted as co-managers for the offering.

The securities in the registered offering were offered and sold pursuant to a “shelf” registration statement on Form S-3 (File No. 333-269100), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 3, 2023, and declared effective on January 11, 2023. A prospectus supplement and accompanying prospectus describing the terms of the registered offering was filed with the SEC and is available on its website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from: Morgan Stanley & Co. LLC, attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by phone: 1-866-718-1649 or by email: prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Immix Biopharma, Inc.
Immix Biopharma, Inc. (ImmixBio) (Nasdaq: IMMX) is a global leader in relapsed/refractory AL Amyloidosis. AL Amyloidosis is a devastating disease where the immune system, that’s supposed to protect, instead produces toxic light chains, clogging up the heart, kidney and liver, causing organ failure and death. Our lead candidate is sterically-optimized BCMA-targeted chimeric antigen receptor T (CAR-T) cell therapy NXC-201 with a “digital filter” that is designed to filter out non-specific activation. NXC-201 teaches the immune system to recognize and eliminate the source of the toxic light chains.  NXC-201 is being evaluated in the U.S. multi-center study for relapsed/refractory AL Amyloidosis NEXICART-2 (NCT06097832), with a registrational design.  NXC-201 has been awarded Regenerative Medicine Advanced Therapy (RMAT) by the US FDA and Orphan Drug Designation (ODD) by FDA and in the EU by the EMA.

Contacts
Mike Moyer
LifeSci Advisors
mmoyer@lifesciadvisors.com

Company Contact
Gabriel Morris, CFO
irteam@immixbio.com

FAQ

What did Immix Biopharma (IMMX) announce on Dec 9, 2025 about its offering?

Immix closed an upsized registered offering of 19,117,646 common shares and 490,196 pre-funded warrants, raising net proceeds of approximately $93.7 million.

How much did Immix (IMMX) receive in net proceeds from the Dec 9, 2025 offering?

The company reported net proceeds of approximately $93.7 million after underwriting discounts and expenses.

What price did Immix (IMMX) sell shares and pre-funded warrants for in the Dec 9, 2025 offering?

Common shares were sold at $5.10 per share and pre-funded warrants at $5.09 per warrant.

Which banks managed Immix Biopharma's (IMMX) Dec 9, 2025 offering?

Morgan Stanley acted as sole book-running manager; Citizens Capital Markets and Mizuho served as co-managers.

Where can investors find the prospectus for Immix Biopharma's (IMMX) offering filed Dec 9, 2025?

The prospectus supplement and accompanying prospectus were filed with the SEC and are available on www.sec.gov.