Imac Hldgs Stock Price, News & Analysis

IMAC Holdings, Inc. (BACK) is a healthcare company whose recent disclosures and news flow highlight a strategic focus on precision oncology through its subsidiary, Ignite Proteomics LLC. IMAC Holdings is listed under the symbol BACK and has communicated plans to operate under the name IMAC Holdings, Inc., DBA Ignite Sciences, Inc., reflecting an emphasis on advanced proteomic diagnostics and personalized cancer treatment approaches.

According to multiple company announcements, Ignite Proteomics is a subsidiary of IMAC Holdings dedicated to applying Reverse Phase Protein Array (RPPA) technology and multi‑protein assays to guide cancer therapy selection. Ignite operates a CLIA‑certified and CAP‑accredited laboratory, with certain disclosures also noting New York State approval for its lab. The company describes its platform as measuring both expression and activation levels of drug targets in breast tumors and other solid tumors, with several biomarkers protected by licensed patents.

Business Focus and Precision Oncology Platform

IMAC Holdings states that it seeks to improve patient outcomes through healthcare solutions and strategic acquisitions. A key element of this strategy is the acquisition of assets and rights from Theralink Technologies, Inc., which enabled the launch of Ignite Proteomics and an RPPA‑based breast cancer assay. The assay is described as the only commercially available and clinically validated test that measures both expression and activated protein drug target levels in breast tumors, designed to better predict the potential effectiveness of targeted therapies.

Ignite Proteomics’ clinical RPPA assay quantifies 32 phospho‑ and total‑protein biomarkers from small biopsy samples, with additional markers in research stages. The company emphasizes that proteins are the direct targets of many modern cancer drugs, including antibody‑drug conjugates and immunotherapies, and that measuring protein activity can reveal treatment‑relevant information that genomics alone may miss. IMAC highlights a proprietary, rules‑based artificial intelligence engine used to interpret complex, multi‑analyte proteomic data and to support therapy‑selection insights for oncologists.

Clinical Evidence and Case Studies

IMAC Holdings and Ignite Proteomics reference several clinical and research milestones that illustrate the intended clinical utility of their platform. A published case study in npj Precision Oncology describes a patient with metastatic triple‑negative breast cancer whose tumor was analyzed using Ignite’s RPPA assay alongside next‑generation sequencing. The RPPA analysis identified expression and activation of HER2 that were not detected by genomic testing or standard HER2 assessment methods. Based on the proteomic findings, the patient was treated with the antibody‑drug conjugate trastuzumab deruxtecan (T‑DXd) and achieved a complete response after multiple treatment cycles.

Another study, published in the British Journal of Cancer, is cited by the company as demonstrating the importance of measuring functional activation of the AKT–mTOR signaling axis in a real‑world metastatic breast cancer cohort. The research found that genomic alterations in PIK3CA, PTEN, or AKT did not correlate with protein activation levels or treatment outcomes, whereas direct measurement of protein activation better predicted response to certain therapies. IMAC positions this evidence as support for integrating proteomic profiling into treatment decision making.

Collaborations and Research Partnerships

News releases describe multiple collaborations involving Ignite Proteomics. A collaboration with Inova Health focuses on applying RPPA technology to tumor samples from patients with late‑stage gastrointestinal cancers. Under this agreement, Ignite analyzes up to 600 tumor samples to generate biomarker data across a panel of cancer‑relevant drug targets, including HER2, RET, MHC‑II, EGFR, TROP2, AKT, ERK, and others. The results are provided to Inova’s Molecular Tumor Board to help assess therapy response and resistance based on specific protein and phospho‑protein levels.

Another collaboration with Vanderbilt University Medical Center (VUMC) is described as a one‑year research project aimed at characterizing tumor‑immune signaling in breast cancer samples. VUMC provides de‑identified tumor tissue from patients receiving standard chemotherapy and immunotherapy, while Ignite performs laser‑capture micro‑dissection and high‑throughput RPPA analysis of immune and signaling biomarkers. The agreement includes an option for Ignite to negotiate an exclusive license to any jointly developed intellectual property.

Diagnostics, PLA Code 0249U, and Reimbursement Positioning

IMAC Holdings reports that Ignite Proteomics completed the transfer of Proprietary Laboratory Analyses (PLA) code 0249U, originally issued to Theralink Technologies, to Ignite. The PLA code is listed on the Medicare Clinical Laboratory Fee Schedule and is addressed by a MolDx "Proteomics Testing" coverage article. The company notes that having a dedicated PLA code helps solidify assay recognition within payer billing systems and avoids reliance on generic, unlisted molecular pathology codes that can complicate reimbursement. IMAC characterizes this transfer as integrating both laboratory capability and intellectual property for the proteomic breast cancer assay into Ignite Proteomics.

In its communications, IMAC underscores that the proteomic assay covered by PLA code 0249U measures functional protein activity in breast tumors and is run in a CLIA‑certified, CAP‑accredited, and, in certain disclosures, New York State–approved laboratory. The company presents this regulatory and reimbursement framework as an important step toward broader clinical adoption of its test.

Corporate Structure, Financing, and Subsidiaries

SEC filings show that IMAC Holdings has entered into several financing arrangements involving promissory notes and senior secured notes. An 8‑K dated December 30, 2025 describes a Securities Purchase Agreement under which IMAC issued senior secured notes with original issue discount to institutional buyers. The notes are secured by a first‑priority security interest in substantially all assets of IMAC and certain subsidiaries, including Ignite Proteomics LLC and various healthcare‑related entities such as IMAC Regeneration Center of St Louis, Advantage Hand Therapy and Orthopedic Rehabilitation, Louisiana Orthopaedic & Sports Rehab Institute, IMAC Management Services, multiple IMAC management entities by state, Back Company Franchise, and Back Space.

Additional 8‑K filings detail a series of secured and unsecured promissory notes issued in 2025, each with specified principal amounts, maturities, and customary events of default, including bankruptcy or insolvency events. These filings indicate that IMAC has used debt financing to support its operations and obligations, with certain notes secured and others unsecured.

Regulatory Filings and Listing Status

IMAC Holdings is identified in filings as having SEC file number 001‑38797 and CUSIP 44967K302. The company has disclosed delays in filing certain periodic reports. A Form 12b‑25 (NT 10‑Q) for the quarter ended September 30, 2025 states that IMAC was unable to file its Quarterly Report on Form 10‑Q within the prescribed time due to delays in compiling financial and other information, and that it intended to file within the allowed extension period.

Nasdaq notices reported in 2024 news releases indicate that IMAC received deficiency notifications for delayed Form 10‑Q filings and later received an exception extending the deadline to file a specific quarterly report. These notices state that the deficiencies had no immediate effect on the listing or trading of the company’s common stock on the Nasdaq Capital Market, while also noting that failure to regain compliance could lead to potential delisting procedures.

Strategic Direction and Name Usage

In a news release describing publication of a proteomics study, IMAC Holdings states that it "strives to improve patient outcomes through innovative healthcare solutions" and that it combines strategic acquisitions and technologies to advance personalized medicine. The same release notes that IMAC has begun the process to change its name and will be shown as IMAC Holdings, Inc., DBA Ignite Sciences, Inc. This reflects a strategic emphasis on the Ignite Proteomics platform and precision oncology as central to the company’s identity.

Across its communications, IMAC positions itself as focusing on proteomic diagnostics that measure protein expression and activation to guide targeted therapies, particularly in breast cancer and other solid tumors. The company’s disclosures emphasize collaborations with academic and clinical partners, regulatory and reimbursement milestones for its assays, and financing arrangements documented in SEC filings.