Immix Biopharmaceutical Co., Ltd. 2025 Q1 Report

FORM10-Q (Mark One) IMMIX BIOPHARMA, INC. (Exact Name of Registrant as Specified in its Charter) PageNo.PART I. FINANCIAL INFORMATIONItem 1.Financial Statements5Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 20245Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months ended March31, 2025 and 2024 (Unaudited)6Condensed Consolidated Statements of Stockholders’ Equity for the Three Months ended March 31, 2025 and2024 (Unaudited)7Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2025 and 2024(Unaudited)8Notes to the Condensed Consolidated Financial Statements (Unaudited)9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk34Item 4.Controls and Procedures34PART II. OTHER INFORMATIONItem 1.Legal Proceedings35Item 1A.Risk Factors35Item 2.Unregistered Sales of Equity Securities and Use of Proceeds35Item 5.Other Information36Item 6.Exhibits36Signatures372 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA This Quarterly Report on Form 10-Q contains forward-looking statements which are made pursuant to the safe harbor provisions ofSection 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934,as amended (the “Exchange Act”). These statements may be identified by such forward-looking terminology as “may,” “should,”“expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or the negative of these termsor other comparable terminology. Our forward-looking statements are based on a series of expectations, assumptions, estimates andprojections about our company, are not guarantees of future results or performance and involve substantial risks and uncertainty. We ●our projected financial position and estimated cash burn rate; ●our estimates regarding expenses, future revenues and capital requirements; ●our ability to continue as a going concern; ●our need to raise substantial additional capital to fund our operations, the availability and terms of such funding, and dilutioncaused thereby; ●the success, cost and timing of our clinical trials; ●our dependence on third parties in the conduct of our clinical trials; ●our ability to obtain the necessary regulatory approvals to market and commercialize our product candidates; ●the ultimate impact of a health epidemic, on our business, our clinical trials, our research programs, healthcare systems or theglobal economy as a whole; ●the potential that results of pre-clinical and clinical trials indicate our current product candidates or any future productcandidates we may seek to develop are unsafe or ineffective; ●the results of market research conducted by us or others; ●our ability to obtain and maintain intellectual property protection for our current and future product candidates; ●our ability to protect our intellectual property rights and the potential for us to incur substantial costs from lawsuits to enforceor protect our intellectual property rights; ●the possibility that a third party may claim we or our third-party licensors have infringed, misappropriated or otherwiseviolated their intellectual property rights and that we may incur substantial costs and be required to devote substantial timedefending against claims against us; ●our reliance on third-party suppliers and manufacturers; ●the success of competing therapies and products that are or become available; ●our ability to expand our organization to accommodate potential growth and our ability to retain and attract key personnel; ●our competitive position and ability to leverage the clinical, regulatory and manufacturing advancements to accelerate ourclinical trials and regulatory approval of product candidates; ●the potential for us to incur substantial costs resulting from product liability lawsuits against us and the potential for theseproduct liability lawsuits to cause us to limit our commercialization of our product candidates; ●our ability to quickly leverage our initial product candidates and to progress additional candidates; ●market acceptance of our product candidates, the size and growth of the potential markets for our current product candidatesand any future product candidates we may seek to develop, and our ability to serve those markets; and ●the successful development of our commercialization capabilities, including sales and marketing capabilities. All of our forward-looking statements are as of the date of this Quarterly Report on Form 10-Q only. In each case, actual results maydiffer materially from such forward-looking information. We can give no assurance that such expectations or forward-lookingstatements will prove to be correct. An occurrence of, or any material adverse change in, one or more of the risk factors