Immatics Announces Full Year 2024 Financial Results and Business Update
Immatics (NASDAQ: IMTX) reported its full year 2024 financial results and business updates. The company's lead TCR-T cell therapy, IMA203, targeting PRAME in advanced melanoma, has entered Phase 3 trial (SUPRAME) with first patient randomized. Key highlights include:
Phase 1b IMA203 data showed 54% confirmed response rate, 12.1 months median duration of response, and 6 months median progression-free survival in advanced melanoma patients. The company's cash position stands at $628.0 million, extending runway into second half of 2027.
Notable developments include:
- SUPRAME Phase 3 trial enrollment continuing as planned, targeting 360 patients
- Manufacturing facility ready for commercial production with >95% success rate
- IMA203CD8 (second-generation therapy) showing 41% confirmed response rate
- TCER® IMA402 and IMA401 programs advancing with promising initial clinical data
Immatics (NASDAQ: IMTX) ha riportato i risultati finanziari e gli aggiornamenti aziendali per l'intero anno 2024. La terapia cellulare TCR-T principale dell'azienda, IMA203, che mira al PRAME nel melanoma avanzato, è entrata nella fase 3 (SUPRAME) con il primo paziente randomizzato. I punti salienti includono:
I dati della fase 1b di IMA203 hanno mostrato un tasso di risposta confermata del 54%, una durata mediana della risposta di 12,1 mesi e una sopravvivenza libera da progressione mediana di 6 mesi nei pazienti con melanoma avanzato. La posizione di cassa dell'azienda si attesta a $628,0 milioni, estendendo la corsa fino alla seconda metà del 2027.
Sviluppi notevoli includono:
- Il reclutamento per la fase 3 SUPRAME continua come previsto, mirando a 360 pazienti
- Struttura di produzione pronta per la produzione commerciale con un tasso di successo >95%
- IMA203CD8 (terapia di seconda generazione) mostra un tasso di risposta confermata del 41%
- I programmi TCER® IMA402 e IMA401 stanno avanzando con dati clinici iniziali promettenti
Immatics (NASDAQ: IMTX) informó sobre sus resultados financieros y actualizaciones comerciales para todo el año 2024. La terapia celular TCR-T principal de la compañía, IMA203, que se dirige al PRAME en melanoma avanzado, ha ingresado en el ensayo de fase 3 (SUPRAME) con el primer paciente aleatorizado. Los aspectos más destacados incluyen:
Los datos de la fase 1b de IMA203 mostraron una tasa de respuesta confirmada del 54%, una duración mediana de la respuesta de 12.1 meses y una supervivencia libre de progresión mediana de 6 meses en pacientes con melanoma avanzado. La posición de efectivo de la compañía se sitúa en $628.0 millones, extendiendo su capacidad hasta la segunda mitad de 2027.
Desarrollos notables incluyen:
- El reclutamiento para el ensayo de fase 3 SUPRAME continúa según lo planeado, con un objetivo de 360 pacientes
- Instalación de fabricación lista para producción comercial con una tasa de éxito >95%
- IMA203CD8 (terapia de segunda generación) muestra una tasa de respuesta confirmada del 41%
- Los programas TCER® IMA402 e IMA401 avanzan con datos clínicos iniciales prometedores
Immatics (NASDAQ: IMTX)는 2024년 전체 재무 결과 및 사업 업데이트를 보고했습니다. 회사의 주요 TCR-T 세포 치료제인 IMA203는 진행성 흑색종에서 PRAME을 타겟으로 하여 3상 시험(SUPRAME)에 들어갔으며 첫 번째 환자가 무작위로 배정되었습니다. 주요 내용은 다음과 같습니다:
IMA203의 1b상 데이터는 54%의 확인된 반응률, 12.1개월의 반응 지속 기간, 그리고 진행성 흑색종 환자에서 6개월의 중앙 무진행 생존 기간을 보여주었습니다. 회사의 현금 보유액은 $628.0 백만으로, 2027년 하반기까지의 자금 여유를 연장하고 있습니다.
주목할 만한 발전 사항은 다음과 같습니다:
- SUPRAME 3상 시험 등록이 계획대로 진행 중이며, 360명의 환자를 목표로 합니다
- 상업 생산을 위한 제조 시설이 준비 완료, 성공률 >95%
- IMA203CD8(2세대 치료제)가 41%의 확인된 반응률을 보임
- TCER® IMA402 및 IMA401 프로그램이 유망한 초기 임상 데이터와 함께 발전 중
Immatics (NASDAQ: IMTX) a annoncé ses résultats financiers et mises à jour commerciales pour l'année entière 2024. La thérapie cellulaire TCR-T de premier plan de la société, IMA203, ciblant le PRAME dans le mélanome avancé, a commencé l'essai de phase 3 (SUPRAME) avec le premier patient randomisé. Les points clés incluent :
Les données de la phase 1b de l'IMA203 ont montré un taux de réponse confirmé de 54 %, une durée médiane de réponse de 12,1 mois et une survie sans progression médiane de 6 mois chez les patients atteints de mélanome avancé. La position de trésorerie de l'entreprise s'élève à $628,0 millions, prolongeant la durée jusqu'à la seconde moitié de 2027.
Développements notables incluent :
- Le recrutement pour l'essai de phase 3 SUPRAME se poursuit comme prévu, visant 360 patients
- Installation de fabrication prête pour la production commerciale avec un taux de réussite >95%
- IMA203CD8 (thérapie de deuxième génération) montrant un taux de réponse confirmé de 41%
- Les programmes TCER® IMA402 et IMA401 avancent avec des données cliniques initiales prometteuses
Immatics (NASDAQ: IMTX) hat seine Finanzergebnisse und Geschäftsupdates für das gesamte Jahr 2024 veröffentlicht. Die führende TCR-T-Zelltherapie des Unternehmens, IMA203, die auf PRAME bei fortgeschrittenem Melanom abzielt, hat die Phase-3-Studie (SUPRAME) mit dem ersten randomisierten Patienten erreicht. Zu den wichtigsten Punkten gehören:
Daten aus der Phase 1b von IMA203 zeigten eine bestätigte Ansprechrate von 54%, eine mediane Ansprechdauer von 12,1 Monaten und eine mediane progressionsfreie Überlebenszeit von 6 Monaten bei Patienten mit fortgeschrittenem Melanom. Die Liquiditätsposition des Unternehmens beträgt $628,0 Millionen, was die Laufzeit bis zur zweiten Hälfte des Jahres 2027 verlängert.
Bemerkenswerte Entwicklungen sind:
- Die Rekrutierung für die Phase-3-Studie SUPRAME verläuft wie geplant und zielt auf 360 Patienten ab
- Herstellungsanlage bereit für die kommerzielle Produktion mit einer Erfolgsquote von >95%
- IMA203CD8 (Therapie der zweiten Generation) zeigt eine bestätigte Ansprechrate von 41%
- Die Programme TCER® IMA402 und IMA401 entwickeln sich mit vielversprechenden ersten klinischen Daten
- Strong Phase 1b results with 54% confirmed response rate in melanoma patients
- Robust cash position of $628.0 million extending runway into 2H 2027
- High manufacturing success rate (>95%) with efficient 14-day turnaround time
- Phase 3 SUPRAME trial initiated with clear pathway to potential BLA submission
- IMA203CD8 showing 41% confirmed response rate with durable responses up to 24+ months
- Phase 3 trial completion not expected until 2026
- BLA submission timeline pushed to Q1 2027
- Commercial launch not anticipated until Q3 2027
Insights
Immatics' clinical pipeline shows remarkable depth and maturity with multiple TCR-based therapies delivering objective responses in solid tumors. The 54% confirmed ORR and 12.1 month median duration of response for IMA203 in advanced melanoma represents impressive efficacy for cell therapy in solid tumors. The progression to a Phase 3 trial (SUPRAME) positions IMA203 as potentially the first PRAME-targeting TCR therapeutic to reach the market.
The second-generation IMA203CD8 data showing 41% ORR even at low doses with responses lasting 9.2 months suggests enhanced potency that could address tumors with varying PRAME expression levels. This expands their addressable market beyond melanoma to harder-to-treat indications like ovarian cancer.
Their manufacturing process is exceptionally efficient with 7-day production, no surgery required, and >95% success rate - critical advantages for commercial viability of cell therapies. The complementary approach of developing TCR Bispecifics against the same targets (PRAME, MAGEA4/8) creates a multi-pronged strategy that could address different patient segments based on disease stage and treatment setting.
Immatics' $628 million cash position provides substantial runway into 2H 2027, comfortably covering their projected BLA submission (Q1 2027) and potential commercial launch (Q3 2027) without immediate financing pressure. This strong capital position removes a significant risk factor common to pre-commercial biotech companies.
The strategic decision to use PFS as the primary endpoint for the SUPRAME trial rather than ORR accelerates the potential approval timeline and strengthens commercial positioning. With anticipated trial completion in 2026 and projected launch in 2027, Immatics has established clear milestones for investors to track execution.
Their in-house manufacturing facility represents a significant competitive advantage for commercial operations with cost efficiencies and supply chain control. The modular design with 8 manufacturing suites plus expansion space enables efficient scaling while minimizing capital expenditure.
The dual platform approach (ACTengine and TCER) targeting multiple solid tumor indications creates multiple potential revenue streams and reduces clinical development risk. The addressable patient population of ~7,300 cutaneous melanoma and ~1,300 uveal melanoma patients in US/EU5 provides a clear initial commercial target, with expansion opportunities into additional PRAME and MAGEA4/8 positive indications.
- Randomized-controlled Phase 3 trial, SUPRAME, to evaluate ACTengine® IMA203 TCR-T (PRAME) in advanced melanoma patients; first patient randomized and enrollment continues as planned
- ACTengine® IMA203 TCR-T (PRAME): Phase 1b IMA203 data published in October 2024 demonstrated a confirmed ORR of
54% , 12.1 months mDOR, 6 months mPFS and OS not reached at a mFU time of 8.6 months in advanced melanoma patients; next data update on Phase 1b trial with extended follow-up planned in 2025 - Second-generation ACTengine® IMA203CD8 TCR-T (PRAME): Phase 1a data published in November 2024 showed enhanced pharmacology and potency, demonstrating potential to address solid tumor indications with both high- and medium-level PRAME copy numbers; dose escalation advancing as planned; next data update including ovarian cancer data planned in 2025
- TCER® IMA402 (PRAME): Phase 1a data published in November 2024 demonstrated a favorable tolerability profile and initial clinical anti-tumor activity associated with dose and PRAME expression; dose escalation advancing as planned; next data update planned in 2025
- TCER® IMA401 (MAGEA4/8): Phase 1a data published in September 2024 demonstrated clinical anti-tumor activity in multiple tumor types and manageable tolerability profile; monotherapy and checkpoint inhibitor combination dose refinement ongoing; next data update with a focus on head and neck cancer planned in 2025
- Cash and cash equivalents as well as other financial assets amount to
$628.0 million 1 (€604.5 million ) as of December 31, 2024; updated cash reach into 2H 2027
Houston, Texas and Tuebingen, Germany, March 27, 2025 – Immatics N.V. (NASDAQ: IMTX, “Immatics” or the “Company”), a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, today provided a business update and reported financial results for the quarter and full year ended December 31, 2024.
"2025 will be marked by milestones across our TCR-T and TCR Bispecifics clinical portfolio, including advancing two of our main objectives for this year: firstly, reporting data on solid cancer types beyond melanoma, such as ovarian cancer, head and neck cancer and others and secondly, demonstrating that our next-generation, half-life extended TCR Bispecifics can deliver meaningful response rates in advanced solid cancer patients," said Harpreet Singh, Ph.D., CEO and Co-Founder of Immatics. "Additionally, the initiation of SUPRAME, the Phase 3 trial for our lead TCR-T cell therapy, IMA203, represents a transformative step in Immatics' journey towards becoming a commercial-stage enterprise. We believe IMA203 offers patients and their treating physicians a cell therapy with impressive response rates and favorable tolerability in advanced melanoma. Notably, it requires no surgery or biopsy, has a fast turnaround time and a high manufacturing success rate. We are committed to rapidly delivering the first TCR therapeutic targeting PRAME to the market and to cancer patients, serving their unmet medical needs.”
Full Year 2024 and Subsequent Company Progress
ACTengine® Cell Therapy Programs
ACTengine® IMA203 (PRAME)
IMA203 is Immatics’ lead TCR-T cell therapy, currently being evaluated in a Phase 3 trial (SUPRAME) in patients with previously treated advanced melanoma. IMA203 has the potential to become the first TCR therapeutic targeting PRAME to enter the market. In parallel, Immatics is priming its in-house, state-of-the-art TCR-T manufacturing facility to serve its planned commercial supply. In addition to maximizing the PRAME cell therapy opportunity, Immatics plans to expand IMA203 into uveal melanoma through the ongoing Phase 1b clinical trial. The current addressable patient population of PRAME/HLA-A*02:01-positive 2L unresectable or metastatic cutaneous melanoma in the US and EU52 is ~7,300 plus ~1,300 uveal melanoma patients in the US and EU5.
Clinical and commercial development plan for ACTengine® IMA203 TCR-T
Based on the positive Phase 1b clinical data presented in 2024 and supported by the FDA RMAT designation3, Immatics has advanced its lead TCR-T product candidate, IMA203 targeting PRAME, into a randomized-controlled Phase 3 trial, called “SUPRAME” (NCT06743126). The trial commenced in December 2024. The first patient was randomized in the United States and enrollment continues as planned.
SUPRAME is a prospective, multicenter, open-label, randomized-controlled Phase 3 clinical trial evaluating the efficacy, safety and tolerability of IMA203 TCR-T in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a checkpoint inhibitor. 360 HLA-A*02:01-positive patients will be randomized 1:1 to treatment with IMA203 or investigator’s choice of selected approved treatments in the 2L setting (nivolumab/relatlimab, nivolumab, ipilimumab, pembrolizumab, lifileucel (US), chemotherapy). Based on the Company’s discussions with the FDA, the primary endpoint for seeking full approval will be blinded independent central review (“BICR”)-assessed (RECIST v1.1) progression-free survival (PFS). Given the expected median PFS of 2-3 months in this patient population4, as well as the median PFS of 6 months (> 1 year in patients with deep responses) observed in the data from the IMA203 Phase 1b trial, the Company has determined that utilizing PFS as the primary endpoint is the fastest pathway to seeking full approval and presents a more attractive commercial positioning as compared to objective response rate (ORR). Secondary endpoints for the trial include ORR, safety, DOR, OS and patient-reported outcomes.
The trial is planned to run internationally with approximately 50 sites in the United States and Europe.
Patient enrollment for SUPRAME is forecasted to be completed in 2026. A pre-specified interim data analysis will be triggered upon the occurrence of a defined number of events for PFS (progressive disease or death)5 anticipated to occur after approximately 200 patients are enrolled in 1Q 2026. The final analysis is planned for 4Q 2026. Immatics aims to submit a Biologics License Application (BLA) in 1Q 2027 for full approval and to launch IMA203 in 3Q 2027.
In addition to cutaneous melanoma, Immatics intends to expand the IMA203 TCR-T opportunity to treat uveal melanoma patients and will continue to evaluate IMA203 in this patient population through the ongoing Phase 1b trial.
Manufacturing capabilities
Immatics’ proprietary manufacturing process, timeline, capabilities and facility support late-stage clinical and commercial cell therapy development and supply.
IMA203 products are manufactured from a patient's leukapheresis (with no surgery required) within 7 days, followed by 7-day QC release testing at >
Clinical data on ACTengine® IMA203 TCR-T as of October 2024
On October 10, 2024, Immatics provided a data update on IMA203 monotherapy in 28 heavily pretreated metastatic melanoma patients from the ongoing Phase 1b dose expansion part of the clinical trial in which patients were treated at the recommended Phase 2 dose (RP2D, 1 to 10 billion total TCR-T cells).
As of the data cut-off on August 23, 2024, treatment with IMA203 monotherapy in this melanoma patient population has demonstrated:
- Confirmed objective response rate of
54% and an objective response rate of62% - Disease control rate of
92% and tumor shrinkage in88% of patients - 12.1 months median duration of response, 6 months median progression-free survival and >1-year median progression-free survival in patients with deep responses
- Median overall survival has not yet been reached at a median follow-up time of 8.6 months
IMA203 monotherapy has maintained a favorable tolerability profile with no treatment-related Grade 5 events in the entire safety population (N=70 Phase 1a and Phase 1b patients across all dose levels and all tumor types).
Immatics plans to present updated clinical data from the Phase 1b trial, including patients reported previously with longer follow-up and additional uveal melanoma patients, in 2025.
ACTengine® IMA203CD8 TCR-T (GEN2) Monotherapy (PRAME)
IMA203CD8 is the Company’s second-generation cell therapy product candidate targeting PRAME. Given its pharmacology profile, once the target dose is reached, the Company intends to pursue the clinical development of this product in PRAME-positive solid cancers beyond melanoma, starting with gynecologic cancers.
On November 8, 2024, Immatics announced updated Phase 1 dose escalation clinical data on its next-generation ACTengine® IMA203CD8 TCR-T cell therapy in 44 heavily pretreated HLA-A*02:01 and PRAME-positive patients with solid tumors, thereof 41 patients being evaluable for efficacy. Of note, these patients had been treated at substantially lower doses than IMA203 (GEN1), i.e. in a range of 0.2-0.48x109 TCR-T cells/m2 BSA (dose level 3) to 0.801-1.2x109 TCR-T cells/m2 BSA (dose level 4c) T cells infused.
As of the data cut-off on September 30, 2024, treatment with IMA203CD8 monotherapy demonstrated:
- Confirmed objective responses observed in
41% of patients (at low doses, dose escalation ongoing) - Median duration of response of 9.2 months at a median follow-up of 13.1 months
- Tumor shrinkage of target lesions in
84% of patients and disease control rate at week 6 of85% - 10 out of 17 responses were ongoing, of which three confirmed responses were ongoing at 14+, 15+ and 24+ months
- Deep responses with ≥
50% tumor size reduction were observed in 11 out of 17 responders. This group included two patients with complete response of target lesions, of which one patient showed a complete metabolic response according to a PET-CT scan
IMA203CD8 monotherapy has maintained a manageable tolerability profile in the 44 patients treated.
Based on the enhanced pharmacology of IMA203CD8 demonstrated in this trial, the evaluation of higher doses of IMA203CD8 in the ongoing dose escalation trial opens the possibility of addressing hard-to-treat solid tumor indications with both high- and medium-level PRAME copy numbers, such as ovarian cancer, uterine cancer, squamous non-small cell lung carcinoma, triple negative breast cancer and others.
The next clinical data update including dose escalation and ovarian cancer is planned in 2025.
TCER® IMA402 (PRAME)
To expand the PRAME opportunity to additional solid cancer types and earlier lines of treatment, the Company is focusing on its half-life extended TCR Bispecific, IMA402. Upon delivering clinical proof-of-concept (“PoC”) in last-line melanoma, Immatics plans to explore its potential in gynecologic cancers, sqNSCLC, breast cancer and other solid tumor indications as well as earlier lines of solid cancers, such as first-line (1L) cutaneous melanoma.
On November 18, 2024, Immatics announced the first clinical data update from the ongoing Phase 1 dose escalation trial evaluating its next-generation, half-life extended TCR Bispecific molecule, TCER® IMA402 targeting PRAME, in 33 heavily pretreated (3 median lines of prior therapies) HLA-A*02:01-positive patients with recurrent and/or refractory solid tumors.
As of the data cut-off on November 6, 2024, treatment with IMA402 demonstrated a favorable tolerability profile in the 33 patients treated.
Early pharmacokinetic data indicated a median half-life of approximately seven days, potentially enabling bi-weekly dosing. Initial signs of clinical anti-tumor activity have been observed and are associated with PRAME expression and IMA402 dose levels administered (up to 4 mg at DL8).
- In the PRAME-negative patient population across all doses and indications, only one patient out of seven (
14% ) showed tumor shrinkage of -2.9% 25% (3/12) of patients (PRAME+ or not tested) treated at low doses (DL1-6) showed tumor shrinkage, including one unconfirmed partial response in cutaneous melanoma78% (7/9) of patients (PRAME+ or not tested) treated at relevant doses (8 patients at DL7 and 1 patient at DL8) experienced shrinkage of their target lesions, including one confirmed partial response in melanoma ongoing at 3 months and three patients with ongoing stable disease at 6+ weeks (cut. melanoma), 3 months (ovarian cancer), 8+ months (uveal melanoma)
Based on the initial signs of dose-dependent and PRAME target expression-dependent clinical activity observed during dose escalation, the Company will continue to evaluate IMA402 at higher dose levels to determine the optimal therapeutic dose.
As of March 27, 2025, dose escalation remains ongoing at DL10 (8 mg) with MTD not reached.
The next update on the Phase 1a trial with clinical data at relevant dose levels in second-line and later melanoma is planned in 2025.
TCER® IMA401 (MAGEA4/8)
Immatics is further harnessing the potential of its proprietary bispecific platform to develop innovative therapeutics and unlock more cancer types. The Company’s half-life extended TCR Bispecific, IMA401 targeting MAGEA4/8, is progressing through a Phase 1 trial in patients with sqNSCLC, HNSCC, bladder cancer and other solid tumor indications, with the primary goal of developing this product candidate in earlier treatment lines.
On September 16, 2024, Immatics announced the proof-of-concept clinical data for the first candidate of its next-generation, half-life extended TCR Bispecifics platform, TCER® IMA401 (MAGEA4/8), during an oral presentation at the European Society for Medical Oncology (ESMO) Congress 2024.
As of data cut-off on July 23, 2024, 35 heavily pretreated patients with recurrent and/or refractory solid tumors were treated with IMA401 monotherapy across nine escalating dose levels. The treated patient population was composed of patients with 16 different solid tumor indications who were both HLA-A*02:01 and MAGEA4/8-positive, had received a median of four and up to eight lines of prior systemic treatments and the majority had an ECOG performance status of ≥ 1.
Proof-of-concept clinical data from the Phase 1a first-in-human dose escalation basket trial showed initial anti-tumor activity in multiple tumor types, durable objective responses, including confirmed responses ongoing at 13+ months, a manageable tolerability profile and a half-life of 14+ days.
Treatment with IMA401 monotherapy in patients with relevant IMA401 doses and MAGEA4/8high levels (N=17) demonstrated:
- Objective response rate of
29% with confirmed responses observed in25% of patients - Disease control rate of
53% and tumor shrinkage of53%
As the clinical trial progresses, the Company aims to further leverage the potential of IMA401 by focusing on the enrollment of indications with high MAGEA4/8 target expression, such as lung and head and neck cancer patients, seeking to optimize the treatment schedule. By further combining IMA401 with a checkpoint inhibitor, Immatics aims to generate relevant clinical data to position IMA401 as a combination therapy in earlier treatment lines.
The next update on IMA401 Phase 1a data, with a focus on head and neck cancer, is expected in 2025, and the Company plans to share data with a focus on non-small cell lung carcinoma in 2026.
Corporate Development
- IMA203 and mRNA Combination (Moderna collaboration): In February 2025, the FDA granted IND clearance for a Phase 1 trial evaluating Immatics’ IMA203 PRAME TCR-T in combination with Moderna’s PRAME adaptive immune modulating therapy. The objective of the combination is to further enhance IMA203 T cell responses with the potential to significantly reduce turn-around time and costs through the infusion of a much lower cell dose. The first-in-human, Phase 1a/1b trial is a multicenter, open-label, dose escalation/de-escalation (adaptive design) trial evaluating the safety, tolerability and efficacy of the combination therapy in up to 15 patients with advanced or recurrent cutaneous melanoma and synovial sarcoma. Immatics is responsible for conducting the Phase 1 trial. Each party retains full ownership of its investigational PRAME compound, and the parties will fund the clinical study on a cost sharing basis. In November 2024, Immatics presented preclinical proof-of-concept data at SITC supporting this combination.
- In September 2024, Immatics regained full clinical development and commercialization rights to IMA401 due to ongoing portfolio prioritization efforts within Bristol Myers Squibb. The Phase 1 trial with IMA401 is ongoing and will continue to be conducted by Immatics.
Full Year 2024 Financial Results
Cash Position: Cash and cash equivalents as well as other financial assets total
Revenue: Total revenue, consisting of revenue from collaboration agreements, was
Research and Development Expenses: R&D expenses were
General and Administrative Expenses: G&A expenses were
Net Profit and Loss: Net profit was
Full financial statements can be found in our Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) on March 27, 2025, and published on the SEC website under www.sec.gov.
Upcoming Investor Conferences
- Bank of America Healthcare Conference, Las Vegas (NV) – May 13 - 15, 2025
- Jefferies Global Healthcare Conference, New York (NY) – June 3 - 5, 2025
To see the full list of events and presentations, visit https://investors.immatics.com/events-presentations.
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About Immatics
Immatics combines the discovery of true targets for cancer immunotherapies with the development of the right T cell receptors with the goal of enabling a robust and specific T cell response against these targets. This deep know-how is the foundation for our pipeline of Adoptive Cell Therapies and TCR Bispecifics as well as our partnerships with global leaders in the pharmaceutical industry. We are committed to delivering the power of T cells and to unlocking new avenues for patients in their fight against cancer.
Immatics intends to use its website www.immatics.com as a means of disclosing material non-public information. For regular updates you can also follow us on LinkedIn and Instagram.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. For example, statements concerning timing of data read-outs for product candidates, the timing, outcome and design of clinical trials, the nature of clinical trials (including whether such clinical trials will be registration-enabling), the timing of IND or CTA filing for pre-clinical stage product candidates, estimated market opportunities of product candidates, the Company’s focus on partnerships to advance its strategy, and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “plan”, “target”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Immatics and its management, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's control including general economic conditions and other risks, uncertainties and factors set forth in the Company’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission (SEC). Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no duty to update these forward-looking statements. All the scientific and clinical data presented within this press release are – by definition prior to completion of the clinical trial and a clinical study report – preliminary in nature and subject to further quality checks including customary source data verification.
For more information, please contact:
| Media |
| Trophic Communications |
| Phone: +49 151 74416179 |
| immatics@trophic.eu |
| Immatics N.V. |
| Jordan Silverstein |
| Head of Strategy |
| Phone: +1 346 319-3325 |
| InvestorRelations@immatics.com |
Immatics N.V. and subsidiaries
Consolidated Statement of Profit and Loss of Immatics N.V.
| Year ended December 31, | |||||
| 2024 | 2023 | 2022 | |||
| (Euros in thousands, except per share data) | |||||
| Revenue from collaboration agreements | 155,835 | 53,997 | 172,831 | ||
| Research and development expenses | (148,079) | (118,663) | (106,779) | ||
| General and administrative expenses | (46,449) | (38,198) | (36,124) | ||
| Other income | 78 | 1,139 | 26 | ||
| Operating result | (38,615) | (101,725) | 29,954 | ||
| Change in fair value of liabilities for warrants | 17,264 | (2,079) | 10,945 | ||
| Other financial income | 44,018 | 13,850 | 9,416 | ||
| Other financial expenses | (1,321) | (7,040) | (8,279) | ||
| Financial result | 59,961 | 4,731 | 12,082 | ||
| Profit/(loss) before taxes | 21,346 | (96,994) | 42,036 | ||
| Taxes on income | (6,128) | | 2,345 | | (14,333) |
| Net profit/(loss) | 15,218 | (94,649) | 27,703 | ||
| Net profit/(loss) per share: | |||||
| Basic | 0.14 | (1.18) | 0.41 | ||
| Diluted | 0.14 | (1.18) | 0.40 | ||
Immatics N.V. and subsidiaries
Consolidated Statement of Comprehensive Income/(Loss) of Immatics N.V.
| Year ended December 31, | | |||||
| 2024 | 2023 | 2022 | | |||
| (Euros in thousands) | ||||||
| Net profit/(loss) | 15,218 | (94,649) | 27,703 | | ||
| Other comprehensive income/(loss) | | |||||
| Items that may be reclassified subsequently to profit or loss | | |||||
| Currency translation differences from foreign operations | 2,667 | (155) | 2,464 | | ||
| Total comprehensive income/(loss) for the year | 17,885 | (94,804) | 30,167 | | ||
Immatics N.V. and subsidiaries
Consolidated Statement of Financial Position of Immatics N.V.
| As of December 31, | ||||||
| 2024 | 2023 | | ||||
| (Euros in thousands) | ||||||
| Assets | | |||||
| Current assets | | |||||
| Cash and cash equivalents | 236,748 | 218,472 | | |||
| Other financial assets | 367,704 | 207,423 | | |||
| Accounts receivables | 5,857 | 4,093 | | |||
| Other current assets | 19,246 | 19,382 | | |||
| Total current assets | 629,555 | 449,370 | | |||
| Non-current assets | | |||||
| Property, plant and equipment | 50,380 | 43,747 | | |||
| Intangible assets | 1,629 | 1,523 | | |||
| Right-of-use assets | 13,332 | 13,308 | | |||
| Other non-current assets | 1,250 | 2,017 | | |||
| Total non-current assets | 66,591 | 60,595 | | |||
| Total assets | 696,146 | 509,965 | | |||
| Liabilities and shareholders’ equity | | |||||
| Current liabilities | | |||||
| Accounts payables | 20,693 | 25,206 | | |||
| Deferred revenue | 35,908 | 100,401 | | |||
| Liabilities for warrants | 1,730 | 18,993 | | |||
| Lease liabilities | 2,851 | 2,604 | | |||
| Other current liabilities | 6,805 | 9,348 | | |||
| Total current liabilities | 67,987 | 156,552 | | |||
| Non-current liabilities | | |||||
| Deferred revenue | 34,161 | 115,527 | | |||
| Lease liabilities | 13,352 | 12,798 | | |||
| Other non-current liabilities | — | 4 | | |||
| Deferred tax liability | 5,804 | 7,466 | | |||
| Total non-current liabilities | 53,317 | 135,795 | | |||
| Shareholders’ equity | | |||||
| Share capital | 1,216 | 847 | | |||
| Share premium | 1,162,136 | 823,166 | | |||
| Accumulated deficit | (589,541) | (604,759) | | |||
| Other reserves | 1,031 | (1,636) | | |||
| Total shareholders’ equity | 574,842 | 217,618 | | |||
| Total liabilities and shareholders’ equity | 696,146 | 509,965 | | |||
Immatics N.V. and subsidiaries
Consolidated Statement of Cash Flows of Immatics N.V.
| Year ended December 31, | | |||||
| 2024 | 2023 | | ||||
| (Euros in thousands) | ||||||
| Cash flows from operating activities | | |||||
| Net profit/(loss) | 15,218 | (94,649) | | |||
| Taxes on income | 6,128 | (2,345) | | |||
| Profit/(loss) before tax | 21,346 | (96,994) | | |||
| Adjustments for: | | |||||
| Interest income | (25,001) | (13,845) | | |||
| Depreciation and amortization | 12,225 | 7,234 | | |||
| Interest expenses | 886 | 831 | | |||
| Equity-settled share-based payment | 17,642 | 20,705 | | |||
| Net foreign exchange differences and expected credit losses | (18,706) | 6,861 | | |||
| Change in fair value of liabilities for warrants | (17,264) | 2,079 | | |||
| (Gains)/losses from disposal of fixed assets | 1 | (150) | | |||
| Changes in: | | |||||
| (Increase)/decrease in accounts receivables | (1,764) | (2,982) | | |||
| (Increase)/decrease in other assets | (2,061) | (1,387) | | |||
| Increase/(decrease) in deferred revenue, accounts payables and other liabilities | (160,053) | 85,999 | | |||
| Interest received | 15,605 | 10,167 | | |||
| Interest paid | (886) | (290) | | |||
| Income tax paid | — | — | | |||
| Net cash provided by/(used in) operating activities | (158,030) | 18,228 | | |||
| Cash flows from investing activities | | |||||
| Payments for property, plant and equipment | (16,272) | (30,799) | | |||
| Payments for intangible assets | (208) | (158) | | |||
| Proceeds from disposal of property, plant and equipment | 2 | 150 | | |||
| Payments for investments classified in Other financial assets | (450,349) | (415,325) | | |||
| Proceeds from maturity of investments classified in Other financial assets | 314,440 | 414,744 | | |||
| Net cash (used in)/provided by investing activities | (152,387) | (31,388) | | |||
| Cash flows from financing activities | | |||||
| Proceeds from issuance of shares to equity holders | 343,010 | 90,404 | | |||
| Transaction costs deducted from equity | (21,314) | (2,039) | | |||
| Repayment of lease liabilities | (2,012) | (3,849) | | |||
| Net cash provided by/(used in) financing activities | 319,684 | 84,516 | | |||
| Net increase/(decrease) in cash and cash equivalents | 9,267 | 71,356 | | |||
| Cash and cash equivalents at beginning of the year | 218,472 | 148,519 | | |||
| Effects of exchange rate changes and expected credit losses on cash and cash equivalents | 9,009 | (1,403) | | |||
| Cash and cash equivalents at end of the year | 236,748 | 218,472 | | |||
Immatics N.V. and subsidiaries
Consolidated Statement of Changes in Shareholders’ Equity of Immatics N.V.
| (Euros in thousands) | Share capital | Share premium | Accumulated deficit | Other reserves | Total share- holders’ equity | ||||
| Balance as of January 1, 2022 | 629 | 565,192 | (537,813) | (3,945) | 24,063 | ||||
| Other comprehensive income | — | — | — | 2,464 | 2,464 | ||||
| Net profit | — | — | 27,703 | — | 27,703 | ||||
| Comprehensive income for the year | — | — | 27,703 | 2,464 | 30,167 | ||||
| Equity-settled share-based compensation | — | 22,570 | — | — | 22,570 | ||||
| Share options exercised | — | 311 | — | — | 311 | ||||
| Issue of share capital – net of transaction costs | 138 | 126,104 | — | — | 126,242 | ||||
| Balance as of December 31, 2022 | 767 | 714,177 | (510,110) | (1,481) | 203,353 | ||||
| Balance as of January 1, 2023 | 767 | 714,177 | (510,110) | (1,481) | 203,353 | ||||
| Other comprehensive loss | — | — | — | (155) | (155) | ||||
| Net loss | — | — | (94,649) | — | (94,649) | ||||
| Comprehensive loss for the year | — | — | (94,649) | (155) | (94,804) | ||||
| Equity-settled share-based compensation | — | 20,705 | — | — | 20,705 | ||||
| Share options exercised | — | 139 | — | — | 139 | ||||
| Issue of share capital – net of transaction costs | 80 | 88,145 | — | — | 88,225 | ||||
| Balance as of December 31, 2023 | 847 | 823,166 | (604,759) | (1,636) | 217,618 | ||||
| Balance as of January 1, 2024 | 847 | 823,166 | (604,759) | (1,636) | 217,618 | ||||
| Other comprehensive income | — | — | — | 2,667 | 2,667 | ||||
| Net profit | — | — | 15,218 | — | 15,218 | ||||
| Comprehensive income for the year | — | — | 15,218 | 2,667 | 17,885 | ||||
| Equity-settled share-based compensation | — | 17,642 | — | — | 17,642 | ||||
| Share options exercised | 1 | 1,114 | — | — | 1,115 | ||||
| Issue of share capital – net of transaction costs | 368 | 320,214 | — | — | 320,582 | ||||
| Balance as of December 31, 2024 | 1,216 | 1,162,136 | (589,541) | 1,031 | 574,842 |
1 All amounts translated using the exchange rate published by the European Central Bank in effect as of December 31, 2024 (1 EUR = 1.0389 USD).
2 France, Germany, Italy, Spain, United Kingdom.
3 Includes all benefits of Breakthrough Therapy Designation.
4 Ascierto et al., 2023, Diab et al., 2024
5 Centrally assessed by BICR using RECIST v1.1.
6 As of August 23, 2024.
Attachment
FAQ
What are the key Phase 1b results for Immatics' IMA203 TCR-T therapy in melanoma patients?
How many patients will be enrolled in IMTX's SUPRAME Phase 3 trial for IMA203?
What is the current cash position of Immatics (IMTX) as of December 2024?
When does Immatics (IMTX) expect to complete SUPRAME trial enrollment?
What is the manufacturing success rate for IMTX's IMA203 TCR-T therapy?
