Immix Biopharma — Third Quarter 2026 Earnings Summary

Financial Performance:

• Reported $340.9 million in cash, cash equivalents, and marketable securities as of September 30, 2026, up from $234.1 million as of June 30, 2026.
• Operating runway is expected to extend into mid-2028.
• Total operating expenses for the quarter ended September 30, 2026, were $15.9 million, compared to $39.2 million for the nine months ended September 30, 2026.
• Research and Development expenses for the quarter were $5.5 million (vs. $16.9 million for the nine-month period).
• General and Administrative expenses for the quarter were $10.4 million (vs. $22.3 million for the nine-month period).
• Net loss for the quarter ended September 30, 2026, was $13.9 million, compared to a net loss of $35.6 million for the nine-month period.
• Cash flows used in operating activities were $12.3 million for the quarter and $33.9 million for the nine-month period.
• Cash flows provided by financing activities were $119.2 million for the quarter and $274.4 million for the nine-month period.
• Total liabilities increased to $10.9 million as of September 30, 2026, from $10.2 million as of June 30, 2026.
• Total stockholders' equity increased to $335.1 million as of September 30, 2026, from $228.9 million as of June 30, 2026.

Guidance and Future Outlook:

• Plans to submit a Biologics License Application (BLA) in mid-2027.
• Plans to initiate the NEXICART-3 front-line trial in the first half of 2027.
• Interim NXC-201 NEXICART-2 clinical data will be presented at the 68th American Society of Hematology (ASH) Annual Meeting on December 14, 2026.
• The company will present at the 45th Annual J.P. Morgan Healthcare Conference from January 11-14, 2027.

Business Segments and Product Lines:

• NXC-201 (NEXICART-2) interim results showed an 89% complete response rate across all 45 patients, with MRD-negativity indicating a potential to reach up to 98% complete response rate in the future.
• NXC-201 has received Breakthrough Therapy Designation (BTD), Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA, and Orphan Drug Designation (ODD) from the FDA and EMA.
• Commercial launch readiness activities are ongoing, including commercial site activation, provider and payer engagement, manufacturing activities, and healthcare professional education.
• Appointed David He, MD, PhD, as Senior Vice President, Head of Technical Operations, to lead chemistry, manufacturing, and controls.
• Appointed Karin McIntosh as Senior Vice President, Head of Regulatory Affairs, to lead regulatory affairs in the U.S. and globally.
• Additional key team members have been appointed across Commercial, Regulatory, Quality, Medical Affairs, and Medical Science Liaison functions.

Market and Competitive Landscape:

• AL amyloidosis is the most common form of amyloidosis, with an estimated 30,506 patients in the U.S. with relapsed/refractory AL Amyloidosis in 2026, growing at 12% per year.
• The Amyloidosis market was valued at $6.2 billion in 2025 and is expected to reach $6.6 billion in 2026.

Risks and Challenges:

• Risks include the potential inaccuracy of patient estimates and market size projections.
• There is a risk that Breakthrough Therapy designation may not expedite NXC-201 development.
• Future clinical trial data may not be favorably consistent with current readouts, including the risk that MRD-negativity will not translate into higher complete response rates.
• Risks exist regarding the ability to continue the NEXICART-2 trial, advance to registration-enabling studies, or submit and receive approval for the BLA in mid-2027.
• Commercial launch readiness activities may not be successful or completed as planned.
• Estimated expenses may be higher than anticipated, and cash on hand may not provide the expected operating runway into mid-2028.
• New hires may not contribute as expected to accelerating the path to commercialization.

Management Commentary and Tone:

• Management highlighted positive clinical data and continued advancement of commercial launch readiness.
• The appointment of senior leadership with experience from approved BCMA CAR-T products (CARVYKTI® and FUCASO®) and other major biopharmaceuticals is intended to accelerate the path to commercialization.
• The tone reflects confidence in the clinical potential of NXC-201 and the company's preparedness for a mid-2027 BLA submission.

Other Key Points:

• Immix Biopharma is a global leader focused on AL amyloidosis.
• NXC-201 is a sterically-optimized BCMA-targeted CAR-T cell therapy featuring a proprietary "digital filter" to filter out non-specific activation.
• The company operates in the U.S. multi-center study for relapsed/refractory AL amyloidosis (NEXICART-2, NCT06097832), which has a potentially registrational design.
• The press release includes forward-looking statements regarding clinical potential, launch readiness, and financial runway, noting that actual results may differ materially.