Immix Biopharma Shares Rise 11% Premarket on Key FDA Designation

By Colin Kellaher

Shares of Immix Biopharma rose sharply in premarket trading Wednesday after the clinical-stage biopharmaceutical said the U.S. Food and Drug Administration granted orphan-drug designation to NXC-201 for the treatment of the incurable blood cancer multiple myeloma.

The Los Angeles company is currently studying NXC-201, a next-generation CAR-T cell therapy, in a Phase 1b/2a clinical trial.

The FDA's orphan-drug program gives special status to drugs and biologics for diseases and disorders that affect fewer than 200,000 people in the U.S. and provides for an extended marketing exclusivity period against competition.

Immix shares, which closed Tuesday at $1.80, were recently up 11% to $2.00 in premarket trading.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

08-23-23 0908ET