Immix Biopharma, Inc.
IMMXHealthcare|Biotechnology|US
$8.06
+0.86 (+11.94%)
DCF Value
$2.66
Tangible Book / Share
$3.59
Cash / Share
$3.64
Financials
Financial Snapshot
Market Cap
$668.2M
Enterprise Value
$443.7M
Revenue (TTM)
$0.00
Net Income (TTM)
-$39.9M
Cash & Investments
$232.1M
Net Cash
$231.1M
Free Cash Flow (TTM)
-$39.1M
Operating CF (TTM)
-$38.5M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$232.1M
Quarterly Burn
$9.6M
Monthly Burn
$3.2M
Est. Runway
~24.1 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $734.0K | $391.1K | $17.6M | $13.4M | $17.5M | $17.7M | $100.4M | $232.1M | |
| Operating Cash Flow | -$790.0K | -$404.7K | -$1.6M | -$7.4M | -$11.4M | -$14.6M | -$23.9M | -$38.5M | |
| Free Cash Flow | -$797.3K | -$404.7K | -$1.6M | -$7.4M | -$11.4M | -$15.8M | -$24.7M | -$39.1M | |
| Capital Expenditure | -$7.3K | $0.00 | -$802.00 | $3.00 | -$52.1K | -$1.2M | -$732.9K | -$591.1K | |
| Financing Cash Flow | $1.1M | $0.00 | $18.8M | $3.2M | $15.5M | $15.9M | $107.4M | $261.5M |
R&D Spending
R&D (TTM)
$21.6M
R&D Intensity
—
R&D Growth vs Prior
+33.0%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $583.2K | $248.1K | $126.5K | $4.2M | $8.7M | $11.3M | $16.3M | $21.6M | |
| SG&A | $259.3K | $205.7K | $1.2M | $4.0M | $7.4M | $11.4M | $13.7M | $20.2M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $583.2K | $248.1K | $126.5K | $4.2M | $8.7M | $11.3M | $16.3M | $21.6M | |
| SG&A | $259.3K | $205.7K | $1.2M | $4.0M | $7.4M | $11.4M | $13.7M | $20.2M | |
| Operating Income | -$842.5K | -$453.9K | -$1.4M | -$8.2M | -$16.1M | -$22.7M | -$30.0M | -$41.8M | |
| Interest Expense | $110.0K | $102.0K | $179.9K | $497.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$952.3K | -$1.1M | -$24.4M | -$8.2M | -$15.6M | -$21.7M | -$29.4M | -$39.9M | |
| Net Income | -$972.8K | -$1.1M | -$24.4M | -$8.2M | -$15.4M | -$21.6M | -$29.4M | -$39.9M | |
| EPS (Diluted) | -0.29 | -0.15 | -6.64 | -0.59 | -0.89 | -0.76 | -0.89 | -0.88 | |
| EBITDA | -$841.4K | -$451.5K | -$24.2M | -$8.2M | -$15.6M | -$21.5M | -$29.6M | -$40.1M | |
| Shares Out. (M) | 3.38 | 7.77 | 3.67 | 13.89 | 17.34 | 28.29 | 32.97 | 63.77 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $734.0K | $391.1K | $17.6M | $13.4M | $17.5M | $17.7M | $93.9M | $225.5M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.5M | $6.6M | |
| Total Current Assets | $933.3K | $532.2K | $18.2M | $14.9M | $19.8M | $20.2M | $101.2M | $233.8M | |
| Total Assets | $942.9K | $539.6K | $18.2M | $14.9M | $19.9M | $22.9M | $104.8M | $239.1M | |
| Total Current Liabilities | $4.6M | $5.3M | $202.0K | $1.3M | $3.7M | $8.7M | $10.1M | $9.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $4.6M | $5.3M | $202.0K | $1.7M | $3.7M | $9.7M | $11.0M | $10.2M | |
| Stockholders' Equity | -$3.6M | -$4.7M | $18.0M | $13.2M | $16.4M | $13.3M | $93.8M | $228.9M | |
| Retained Earnings | -$4.2M | -$5.4M | -$29.8M | -$38.0M | -$53.4M | -$75.0M | -$104.5M | -$126.1M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$790.0K | -$404.7K | -$1.6M | -$7.4M | -$11.4M | -$14.6M | -$23.9M | -$38.5M | |
| Capital Expenditure | -$7.3K | $0.00 | -$802.00 | $3.00 | -$52.1K | -$1.2M | -$732.9K | -$591.1K | |
| Free Cash Flow | -$797.3K | -$404.7K | -$1.6M | -$7.4M | -$11.4M | -$15.8M | -$24.7M | -$39.1M | |
| Investing Cash Flow | -$7.3K | $0.00 | -$802.00 | $0.00 | -$52.1K | -$1.2M | -$7.2M | -$9.1M | |
| Financing Cash Flow | $1.1M | $0.00 | $18.8M | $3.2M | $15.5M | $15.9M | $107.4M | $261.5M | |
| Issuance of Stock | $0.00 | $0.00 | $18.6M | $3.4M | $15.7M | $15.9M | $107.4M | $261.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | -$100.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $1.1M | $0.00 | $200.0K | -$50.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $219.0K | $624.1K | $2.6M | $3.0M | $2.4M | $2.1M | |
| Net Change in Cash | $271.7K | -$342.9K | $17.3M | -$4.2M | $4.1M | $172.2K | $76.2M | $213.9M |
Dilution Tracker
Shares outstanding grew 324.1% over 5 years — significant dilution
Shares Outstanding
83M
5-Year Share Growth
+324.1%
Stock Issuance (TTM)
$261.5M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 3.38 | 7.77 | 3.67 | 13.89 | 17.34 | 28.29 | 32.97 | 63.77 | |
| Change vs Prior % | — | 130.3% | -52.8% | 278.1% | 24.9% | 63.1% | 16.5% | 93.4% | |
| Stock Issuance | $0.00 | $0.00 | $18.6M | $3.4M | $15.7M | $15.9M | $107.4M | $261.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | -$100.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $219.0K | $624.1K | $2.6M | $3.0M | $2.4M | $2.1M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| ROE % | 26.7% | 24.3% | -135.5% | -62.5% | -94.0% | -163.1% | -31.4% | -38.4% | |
| ROA % | -103.2% | -212.7% | -134.0% | -55.2% | -77.4% | -94.2% | -28.1% | -16.7% | |
| ROIC % | -185.7% | 72.0% | -7.5% | -60.3% | -99.6% | -158.3% | -31.6% | -18.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | 46.1% | -197.9% | -507.9% | -96.4% | -40.5% | -32.1% | |
| Net Income | 0.0% | -18.0% | -2024.3% | 66.2% | -87.4% | -40.1% | -36.2% | |
| EPS (Diluted) | 0.0% | 48.3% | -4326.7% | 91.1% | -50.8% | 14.6% | -17.1% | |
| Operating Cash Flow | 0.0% | 48.8% | -292.7% | -366.1% | -53.5% | -28.3% | -64.0% | |
| Free Cash Flow | 0.0% | 49.2% | -292.9% | -365.9% | -54.2% | -38.1% | -56.4% | |
| R&D Expense | 0.0% | -57.4% | -49.0% | 3216.1% | 108.2% | 29.3% | 44.0% | |
| SG&A Expense | 0.0% | -20.7% | 495.8% | 228.3% | 84.1% | 53.7% | 20.3% | |
| Total Assets | 0.0% | -42.8% | 3271.4% | -18.1% | 33.7% | 15.2% | 356.9% | |
| Book Value / Share | 0.0% | 43.7% | 905.0% | -80.7% | -1.4% | -49.9% | 507.3% | |
| Debt | 0.0% | 0.0% | -98.8% | -100.0% | 0.0% | 0.0% | -0.2% | |
| Diluted Shares | 0.0% | 130.3% | -52.8% | 278.1% | 24.9% | 63.1% | 16.5% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B2.25
10Y Low / Med / High0.73 / 2.42 / 7.31
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$2.66
Tangible Book / Share
$3.59
Net Current Assets / Share
$2.70
Graham Net-Net
$3.48
Cash / Share
$3.64
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -12.66 | -24.47 | -0.54 | -3.88 | -7.78 | -2.89 | -5.88 | -9.16 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -3.40 | -6.03 | 0.73 | 2.42 | 7.31 | 4.70 | 1.84 | 2.25 | |
| EV/EBITDA | -18.72 | -71.40 | 0.19 | -2.24 | -6.59 | -2.12 | -2.69 | -11.06 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
39.16
Safe
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $12.1M | $26.4M | $153.9M |
| Net Income | -$23.8M | -$26.9M | -$21.9M |
| EPS | $-0.72 | $-0.95 | $-0.66 |
| # Analysts (EPS) | 6 | 6 | 2 |