IMMX - Immix Biopharma announces $1M stock buyback program

Immix Biopharma (NASDAQ:IMMX) said it has received Board's approval on Monday to repurchase up to $1M of its common shares. As of Apr. 15, 2022, the company had about 13.9M shares outstanding. "We are confident that with the $24.2 million gross proceeds raised in our recent IPO, ImmixBio is sufficiently capitalized to reach what we believe will be 2 upcoming inflection points: clinical data from IMX-110 monotherapy clinical trial, as well as clinical data from the IMX-110 combined with BeiGene anti-PD-1 tislelizumab clinical trial,” said Ilya Rachman, MD PhD, CEO of ImmixBio. Cash, cash equivalents and marketable securities stood at $18M as of Dec. 31, 2021. Seeking Alpha contributor Donovan Jones is Neutral on Immix (IMMX), noting among other things that its “IPO is ultra-high risk and the company appears thinly capitalized.”

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Immix Biopharma announces $1M stock buyback program