Shares of Immix Biopharma Inc. IMMX, +9.20% rocketed 66.0% in premarket trading Monday, after the biopharmaceutical company said its IMX-110 was granted Rare Pediatric Disease (RPD) designation by the Food and Drug Administration for the threatment of pediatric cancer. The company said IMX-110 is current being evaluated in a Phase 1b/2a clinical trial. The company said if a New Drug Application (NDA) is approved, the company could be eligible to receiver a Priority Review Voucher (PRV) that can be redeemed to obtain priority review for any subsequent marketing application. “We are pleased by FDA’s acknowledgment of the urgent need for a safe and effective treatment for children with this devastating disease,” said Immix Chief Executive Ilya Rachman. “We are encouraged by our Phase 1b/2a clinical data in soft tissue sarcoma.” The rally in Immix’s stock, which went public on Dec. 16, comes as the iShares Biotechnology ETF IBB, -0.74% was little changed ahead of the open while futures ES00, +0.35% for the S&P 500 SPX, -0.26% gained 0.6%.
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