The balance sheet appears adequately capitalized with a current ratio of 8.76 as of 2026Q1, though the accumulated deficit has deepened to $114.5 million, signaling significant historical equity erosion.
| Total Current Assets | 92.27M | 101.24M | 20.2M | 19.79M | 14.9M | 18.19M | 532.24K | 933.26K |
| Cash & Short-Term Investments | 90.58M | 100.41M | 17.68M | 17.51M | 13.44M | 17.64M | 391.09K | 734.01K |
| Cash Only | 79.25M | 93.93M | 17.68M | 17.51M | 13.44M | 17.64M | 391.09K | 734.01K |
| Short-Term Investments | 11.33M | 6.48M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 1.97M | 1.17M | 255.71K | 25.72K | 127.44K | 175.75K |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.7M | 828.33K | 32.27K | 44.58K | 78.07K | 0 | 0 | 0 |
| Total Non-Current Assets | 3.54M | 3.6M | 2.75M | 137.41K | 10.28K | 5.7K | 7.36K | 9.68K |
| Property, Plant & Equipment | 3.36M | 3.49M | 2.73M | 50.18K | 3.56K | 5.7K | 7.36K | 9.68K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 185.14K | 114.05K | 20.42K | 87.23K | 6.72K | 0 | 0 | 0 |
| Total Assets | 95.82M | 104.84M | 22.95M | 19.93M | 14.91M | 18.19M | 539.6K | 942.94K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Asset Growth % | 672.63% | 356.86% | 15.17% | 33.65% | -18.05% | 3271.42% | -42.78% | - |
| Total Current Liabilities | 10.54M | 10.11M | 8.69M | 3.72M | 1.27M | 202.04K | 5.27M | 4.59M |
| Accounts Payable | 0 | 0 | 5.39M | 1.43M | 143.07K | 142.94K | 252.34K | 247.54K |
| Days Payables Outstanding | 9.54K | - | - | - | - | - | - | - |
| Short-Term Debt | 125.39K | 139.34K | 0 | 0 | 0 | 50K | 4.1M | 4.1M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 342.84K | 0 |
| Other Current Liabilities | 10.41M | 9.97M | 658.16K | 0 | 0 | 0 | 232.16K | 0 |
| Current Ratio | 8.76x | 10.01x | 2.33x | 5.32x | 11.70x | 90.01x | 0.10x | 0.20x |
| Quick Ratio | 8.76x | 10.01x | 2.33x | 5.32x | 11.70x | 90.01x | 0.10x | 0.20x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 912.34K | 933.63K | 1.01M | 0 | 475K | 0 | 0 | 0 |
| Long-Term Debt | 912.34K | 933.63K | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.94M | 0 | 1.01M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 475K | 0 | 0 | 0 |
| Total Liabilities | 11.45M | 11.04M | 9.7M | 3.72M | 1.75M | 202.04K | 5.27M | 4.59M |
| Total Debt | 1.04M | 1.07M | 1.07M | 0 | 0 | 50K | 4.1M | 4.1M |
| Net Debt | -78.21M | -92.86M | -16.61M | -17.51M | -13.44M | -17.59M | 3.71M | 3.37M |
| Debt / Equity | 0.01x | 0.01x | 0.08x | - | - | 0.00x | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.19x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | -16537.12x | -134.54x | -4.45x | -7.66x |
| Total Equity | 84.36M | 93.8M | 13.25M | 16.2M | 13.16M | 17.99M | -4.73M | -3.65M |
| Equity Growth % | 1253.78% | 607.83% | -18.22% | 23.13% | -26.85% | 480.29% | -29.73% | - |
| Book Value per Share | 2.20 | 2.85 | 0.47 | 0.93 | 0.95 | 4.90 | -0.61 | -1.08 |
| Total Shareholders' Equity | 84.36M | 93.8M | 13.25M | 16.41M | 13.16M | 17.99M | -4.73M | -3.65M |
| Common Stock | 5.31K | 5.3K | 2.76K | 2K | 1.4K | 1.32K | 338 | 338 |
| Retained Earnings | -114.55M | -104.46M | -75.02M | -53.41M | -37.99M | -29.76M | -5.37M | -4.22M |
| Treasury Stock | 0 | 0 | -99.96K | -99.96K | -99.96K | 0 | 0 | 0 |
| Accumulated OCI | 105.64K | 60.16K | -1.06K | 134.67K | 87.02K | 125.41K | 131.86K | 68.22K |
| Minority Interest | 0 | 0 | 0 | -201.74K | 0 | 0 | 0 | 0 |
Clinical trial funding dependency
According to recent SEC filings, IMMX's total assets surged from $19.9 million in 2025Q1 to $95.8 million by 2026Q1, signaling a significant strengthening of the balance sheet driven by successful capital raises to support the ongoing clinical development of the NXC-201 cell therapy program.
The rapid expansion of the asset base suggests management has successfully prioritized liquidity to mitigate the risks associated with pre-revenue clinical operations. Investors should monitor whether this capital accumulation is sufficient to reach critical clinical inflection points without necessitating further dilutive financing in the near term.
Based on the company's reported figures, IMMX maintains a current ratio of 8.76 as of 2026Q1, providing a substantial liquidity buffer that appears to insulate the firm from immediate operational shocks while it continues to fund high-cost research and development activities for its oncology pipeline.
The high current ratio reflects a deliberate strategy to maintain cash reserves, which is essential for a company with no revenue and high fixed clinical costs. While this liquidity position is currently adequate, the burn rate warrants close observation as trial complexity and patient enrollment requirements scale over the coming quarters.
As reported in financial statements, the company's accumulated deficit has deepened to $114.5 million by 2026Q1, indicating that the equity base is being systematically eroded by persistent net losses and the ongoing reliance on equity-based financing to sustain the firm's research-heavy business model.
The persistent growth in the accumulated deficit highlights the inherent risk of the pre-revenue biotech model, where shareholder value is continuously challenged by the need for capital. The reliance on equity funding suggests that future value creation is entirely contingent upon the successful clinical validation of the TSTx platform and NXC-201 candidate.
Based on the provided data, the company's asset base is heavily concentrated in cash, with minimal investment in tangible property, plant, and equipment, which suggests that the firm's true value is entirely tied to intangible clinical data that remains unrecorded on the balance sheet.
The lack of significant PPE indicates an asset-light model that relies on third-party manufacturing, which may introduce hidden operational risks regarding scalability and quality control. Investors should be aware that the balance sheet significantly underrepresents the company's actual economic value, as the most critical assets are the clinical trial results and intellectual property.
Quick answers to the most common questions about buying IMMX stock.
As of 2025, Immix Biopharma, Inc. (IMMX) had total assets of $104.8M including $101.2M in current assets.
Immix Biopharma, Inc. (IMMX) carries total debt of $1.1M, offset by $100.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Immix Biopharma, Inc. (IMMX) has total shareholders' equity (book value) of $93.8M ($2.85 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Immix Biopharma, Inc. (IMMX) reported a current ratio of 10.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.