Immix Biopharma (IMMX) Shares Slip As Investors Focus On Plans To Offer And Sell $750 Million In Securities

Immix Biopharma Inc (NASDAQ:IMMX) shares are trading marginally lower Monday morning after the clinical-stage biotech filed a new shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission.

The filing would allow the company to offer and sell up to $750 million of common stock, preferred stock, debt securities, warrants and units from time to time.

• Immix Biopharma stock is under selling pressure. Why is IMMX stock retreating?

New $750 Million IMMX Shelf Replaces 2023 Registration

The latest S-3 is structured as a replacement shelf under SEC Rule 415(a)(6), carrying forward unsold securities from a prior registration that was declared effective in January 2023.

Under the new shelf registration, Immix can access the capital markets opportunistically, with specific terms and pricing of any future offerings to be detailed in subsequent prospectus supplements.

Proceeds to Fund CAR-T Pipeline in AL Amyloidosis

Immix Biopharma plans to use net proceeds primarily for working capital and general corporate purposes, which may include advancing its lead CAR-T candidate NXC-201 for AL amyloidosis and other serious diseases.

The company also highlighted standard risk factors and forward-looking statement disclosures, reminding investors that any future equity issuance under the shelf could dilute existing shareholders.

Benzinga Edge Rankings: Benzinga Edge's proprietary rankings show Immix Biopharma with a strong Momentum score of 96.03, supported by positive short-, medium- and long-term price trends.

IMMX Price Action: Immix Biopharma shares were down 4.11% at $4.67 at the time of publication on Monday, according to Benzinga Pro data.

Can Immix Biopharma Break The $5 Barrier?

The stock’s 52-week range of $1.34 to $7.73 highlights its volatility and potential for significant price swings. Currently, the price is well above the lower end of this range, which may provide a psychological support level for investors looking to enter or add to their positions.

Resistance is likely to be encountered around the $5.00 mark, where sellers may emerge to capitalize on any upward momentum. Should the stock manage to break through this resistance, it could pave the way for a test of higher levels, potentially approaching the recent highs near $7.73.

The overall technical outlook for Immix Biopharma remains cautiously optimistic, as the stock is trading well above its historical lows. Continued monitoring of volume and price action will be essential to gauge the strength of any potential recovery or further declines in the near term.

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