Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Immix Biopharma (IMMX – Research Report), with a price target of $7.00.
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Robert Burns has given his Buy rating due to a combination of factors related to the promising interim results from the NEXICART-2 trial presented at the ASCO meeting. The trial, which is assessing the efficacy of NXC-201 in patients with relapsed/refractory AL amyloidosis, showed a 100% response rate with a significant portion achieving complete hematologic response. The rapid median time to response and the absence of hematologic relapse or progression further underscore the potential of NXC-201 as a treatment option.
Additionally, the safety profile of NXC-201 appears favorable, with no patients experiencing severe cytokine release syndrome or neurotoxicity. Despite the small sample size and the need for longer-term follow-up, the interim results are promising compared to existing treatments. The lack of FDA-approved agents for this condition and the fragmented treatment landscape post-frontline therapy highlight the potential market opportunity for NXC-201, supporting the Buy rating and a 12-month price target of $7.