BofA Raises Odds Of Success For Immix Biopharma’s NXC-201 Therapy — Sees Over 190% Upside In IMMX Stock

• BofA raised its price target on Immix to $30 from $27 while maintaining a ‘Buy’ rating, according to The Fly          
• NXC-201 delivered an 89% complete response rate, with no relapses.
•  Immix announced a $125 million stock offering to provide additional funding for the development of NXC-201.

Immix Biopharma (IMMX) was in focus on Tuesday as BofA grew more confident in the prospects for its lead CAR-T therapy, NXC-201, following encouraging new clinical data in a rare disease characterized by harmful protein buildup in organs.

BofA raised its price target on Immix to $30 from $27 while maintaining a ‘Buy’ rating, according to TheFly. This represents a more than 190% upside potential from current levels.

Following the results, the brokerage increased its estimate of NXC-201's odds of success in relapsed/refractory AL amyloidosis. BofA also updated its cash and share count estimates to reflect Immix’s latest equity offering.

Despite the positive data, IMMX shares were down 11% at the time of writing, and on track for their biggest monthly loss in more than two years. The State Street SPDR S&P Biotech ETF (XBI) was down 0.5%.

NXC-201 Delivers 89% Complete Response Rate

On Tuesday, Immix said its NXC-201 therapy produced an 89% complete response rate, with 40 of 45 patients achieving a complete response in its Phase 2 Nexicart-2 study. All 25 patients either achieved a complete response or were MRD-negative, meaning no disease was detected using a highly sensitive test. Immix said the complete response rate could eventually rise to 98%.

So far, none of the patients who achieved a complete response or became MRD-negative has relapsed, the company said. Immix plans a final readout and a Biologics License Application (BLA) submission with the U.S. Food and Drug Administration (FDA) in mid-2027. NXC-201 has already received FDA Breakthrough Therapy and Orphan Drug designations.

Immix Bolsters Cash Position

Immix also priced an offering of about 11.36 million shares at $11 each, a 4% discount to the stock’s closing price on Monday. The company plans to use the gross proceeds of $125 million primarily for NXC-201 development, working capital and general corporate purposes.

Immix had about $232.1 million in cash, cash equivalents and short-term investments as of June 30, plus $2.1 million in long-term Treasury investments.

Beyond NXC-201, Immix’s pipeline includes IMX-110, an experimental cancer treatment that has been studied in solid tumors. The company is also developing its N-GENIUS cell-therapy platform for potential treatments across autoimmune and other immune-related diseases.

Retail Turns ‘Bullish’ Despite Slump

Retail sentiment surrounding IMMX on Stocktwits turned ‘bullish’ from ‘bearish’ over the past 24 hours, amid ‘high’ message volumes.

One user said the market is reacting to the share sale since the trial data “was good.”

The stock has gained around 90% so far in 2026.

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