Immix Biopharma’s stock rockets after pediatric cancer treatment granted RPD by the FDA

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,
+0.56%
for the S&P 500
SPX,
-0.26%
gained 0.6%.