IMMX - Immix gets FDA orphan drug designation for NXC-201 stock jumps

2023-08-23 14:20:59 ET

Immix Biopharma ( NASDAQ: IMMX ) said the FDA has granted orphan drug designation for its therapy candidate NXC-201 in the treatment of multiple myeloma.

Shares of Immix were up 11% in afternoon trading following the news.

Immix said that the designation makes the product eligible for up to seven years of market exclusivity if it is approved.

NXC-201 is a next-generation CAR-T cell therapy. The product is currently in Phase 1b/Phase 2a testing, according to the company.

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