Financial Performance - Net loss for Q1 2022 was $1,332,048, up from $1,016,655 in Q1 2021, mainly due to increased general and administrative and research and development expenses[84]. - Net cash used in operating activities was $1,494,822 for Q1 2022, compared to $266,446 for Q1 2021, reflecting higher operational costs[88]. - As of March 31, 2022, the company had an accumulated deficit of $31,087,582 and had not generated any revenue from operations[91]. Expenses - General and administrative expenses increased to $700,507 for Q1 2022 from $137,680 in Q1 2021, primarily due to higher professional services and stock-based compensation following the IPO[76][77]. - Research and development expenses rose significantly to $629,531 for Q1 2022 compared to $24,840 in Q1 2021, driven by ongoing clinical trials and increased spending post-IPO[78][79]. - The company expects to continue incurring significant expenses and operating losses as it advances product candidates through development and clinical trials[73]. Financing Activities - Cash provided by financing activities was $2,913,750 for Q1 2022, significantly up from $65,000 in Q1 2021, due to proceeds from the IPO[90]. - The company has no credit facility or committed sources of capital and will need additional funds for operational needs and clinical trials[86]. Cash Management - The change in fair value of derivative liability was $0 for Q1 2022, compared to $825,000 in Q1 2021, reflecting a decreased probability of a "Qualified Financing"[81]. - The company anticipates that its cash on hand will be sufficient to fund planned operations for at least 12 months from the filing date of the report[91].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-41159 IMMIX BIOPHARMA, INC. (Exact name of registrant as specified in charter) | Delaware | 45-4869378 | | --- | --- | | (State ...