Immatics Announces Third Quarter 2024 Financial Results, Business Update and First Clinical Data on TCER® IMA402 Targeting PRAME
Immatics reported Q3 2024 financial results and clinical updates for its cancer immunotherapy pipeline. Key highlights include first clinical data from TCER® IMA402 showing favorable tolerability and initial responses in melanoma patients. The company plans to start SUPRAME, a Phase 3 trial for ACTengine® IMA203 in melanoma patients, in December 2024. Financial position remains strong with $549.2 million in cash and equivalents as of September 30, 2024, plus an additional $150 million from October's public offering, extending cash runway into 2H 2027. Q3 revenue was $56.7 million, with a net loss of $9.6 million.
Immatics ha riportato i risultati finanziari del terzo trimestre 2024 e aggiornamenti clinici per il suo programma di immunoterapia contro il cancro. I punti salienti includono i primi dati clinici relativi a TCER® IMA402, che mostrano una tollerabilità favorevole e risposte iniziali nei pazienti affetti da melanoma. L'azienda prevede di avviare SUPRAME, uno studio di Fase 3 per ACTengine® IMA203 nei pazienti con melanoma, a dicembre 2024. La posizione finanziaria rimane solida con 549,2 milioni di dollari in contante e equivalenti al 30 settembre 2024, più ulteriori 150 milioni di dollari provenienti dall'offerta pubblica di ottobre, estendendo la liquidità fino alla seconda metà del 2027. I ricavi del terzo trimestre sono stati di 56,7 milioni di dollari, con una perdita netta di 9,6 milioni di dollari.
Immatics informó sobre los resultados financieros del tercer trimestre de 2024 y actualizaciones clínicas de su cartera de inmunoterapia contra el cáncer. Los aspectos más destacados incluyen los primeros datos clínicos de TCER® IMA402 que muestran una tolerancia favorable y respuestas iniciales en pacientes con melanoma. La compañía planea iniciar SUPRAME, un ensayo de Fase 3 para ACTengine® IMA203 en pacientes con melanoma, en diciembre de 2024. La posición financiera sigue siendo fuerte con 549,2 millones de dólares en efectivo y equivalentes a partir del 30 de septiembre de 2024, más 150 millones de dólares adicionales de la oferta pública de octubre, extendiendo la capacidad financiera hasta la segunda mitad de 2027. Los ingresos del tercer trimestre fueron de 56,7 millones de dólares, con una pérdida neta de 9,6 millones de dólares.
Immatics는 2024년 3분기 재무 결과와 암 면역 요법 파이프라인에 대한 임상 업데이트를 보고했습니다. 주요 사항으로는 TCER® IMA402의 첫 번째 임상 데이터가 멜라노마 환자에서 긍정적인 내약성과 초기 반응을 보여주었다는 점이 포함됩니다. 회사는 2024년 12월 멜라노마 환자에 대한 ACTengine® IMA203의 3상 시험인 SUPRAME를 시작할 계획입니다. 2024년 9월 30일 기준으로 현금 및 현금성 자산이 5억 4,920만 달러로 재무 상태는 강력하며, 10월의 공모를 통해 추가로 1억 5천만 달러를 확보하여 2027년 하반기까지의 자금을 확보했습니다. 3분기 매출은 5,670만 달러였으며, 순손실은 960만 달러로 기록되었습니다.
Immatics a publié les résultats financiers du troisième trimestre 2024 ainsi que des mises à jour cliniques concernant son pipeline d'immunothérapie contre le cancer. Les points clés comprennent les premières données cliniques de TCER® IMA402 montrant une bonne tolérance et des réponses initiales chez les patients atteints de mélanome. La société prévoit de commencer SUPRAME, un essai de phase 3 pour ACTengine® IMA203 chez des patients atteints de mélanome, en décembre 2024. La situation financière reste solide avec 549,2 millions de dollars en liquidités et équivalents au 30 septembre 2024, en plus de 150 millions de dollars supplémentaires provenant de l'offre publique d'octobre, prolongeant la durée de trésorerie jusqu'au second semestre 2027. Les revenus du troisième trimestre s'élevaient à 56,7 millions de dollars, avec une perte nette de 9,6 millions de dollars.
Immatics hat die finanziellen Ergebnisse für das dritte Quartal 2024 und klinische Aktualisierungen zu seiner Immuntherapie-Pipeline gegen Krebs veröffentlicht. Zu den wichtigsten Punkten gehören die ersten klinischen Daten von TCER® IMA402, die eine günstige Verträglichkeit und erste Reaktionen bei Melanompatienten zeigen. Das Unternehmen plant, im Dezember 2024 SUPRAME, eine Phase-3-Studie für ACTengine® IMA203 bei Melanompatienten zu beginnen. Die Finanzlage bleibt stark mit 549,2 Millionen Dollar in bar und liquiden Mitteln zum 30. September 2024, plus weiteren 150 Millionen Dollar aus dem öffentlichen Angebot im Oktober, was die finanzielle Laufzeit bis zur zweiten Hälfte von 2027 verlängert. Die Einnahmen im dritten Quartal betrugen 56,7 Millionen Dollar, bei einem Nettoverlust von 9,6 Millionen Dollar.
- Initial clinical responses observed in melanoma patients with TCER® IMA402
- Strong cash position of $549.2M plus additional $150M from public offering
- Extended cash runway into 2H 2027
- Revenue increased to $56.7M in Q3 2024 from $6.6M in Q3 2023
- 54% confirmed objective response rate in melanoma patients for IMA203 therapy
- Net loss of $9.6M in Q3 2024
- R&D expenses increased to $43.6M from $34.1M year-over-year
- G&A expenses rose to $12.5M from $10.0M year-over-year
- Loss of partnership with Bristol Myers Squibb for IMA401 development
Insights
The Q3 2024 results and clinical updates reveal significant positive developments for Immatics. Key financial highlights include a strong cash position of
The company's pipeline shows promising clinical progress across multiple programs. The TCER® IMA402 data demonstrates encouraging initial efficacy with
The robust cash position and advancing clinical programs indicate strong execution potential, though increased R&D expenses of
The clinical data presented shows compelling evidence of therapeutic potential across Immatics' pipeline. The TCER® IMA402 results are particularly noteworthy, with a favorable safety profile and meaningful anti-tumor activity in PRAME-positive patients. The
The IMA203 data in melanoma is robust, with a
The Company will now target five major cancer types with its four clinically active compounds across both TCR-T cell therapies and TCR-based Bispecifics
- Today, Company discloses first clinical data from the TCR Bispecific molecule, TCER® IMA402 targeting PRAME, in the Phase 1 dose escalation trial, demonstrating a favorable tolerability profile and signs of dose-dependent and PRAME expression-dependent clinical activity, including first objective responses in melanoma patients; early pharmacokinetics data indicate a median half-life of 7 days, potentially enabling bi-weekly dosing; dose escalation is ongoing
- SUPRAME, the randomized-controlled Phase 3 trial to evaluate ACTengine® IMA203 in 2L+ metastatic melanoma patients, planned to commence in December 2024; pre-specified interim data analysis planned for early 2026
- Recently, Company presented Phase 1b clinical data on ACTengine® IMA203 targeting PRAME that demonstrate deep and durable responses in heavily pretreated metastatic melanoma patients treated at RP2D; IMA203 continues to maintain a favorable tolerability profile in patients treated across all dose levels
- Next-generation ACTengine® IMA203CD8 Phase 1a dose escalation data demonstrate enhanced pharmacology and potency per cell; TCR-T candidate to be evaluated for future development in solid cancers with medium-level PRAME copy numbers, such as ovarian and endometrial cancer
- Clinical proof-of-concept data from the ongoing Phase 1 dose escalation trial with TCER® IMA401 targeting MAGEA4/8 demonstrate initial clinical anti-tumor activity in multiple tumor types and a manageable tolerability profile; dose escalation is ongoing
$150 million public offering completed on October 15, 2024- As of September 30, 2024, cash and cash equivalents as well as other financial assets amount to
$549.2 million 1 (€490.5 million ), not including the cash inflow from the public offering on October 15, 2024; updated cash reach guidance into 2H 2027
Houston, Texas and Tuebingen, Germany, November 18, 2024 – 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 ended September 30, 2024. The Company also reported 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.
“This year, Immatics has demonstrated the strength of its pipeline by announcing data on clinical activity for its four clinical-stage assets across two therapeutic modalities. These include ACTengine® IMA203 targeting PRAME positioned in 2L+ melanoma now moving forward into the Phase 3 trial SUPRAME targeting BLA filing in early 2027; ACTengine® IMA203CD8 targeting hard-to-treat solid cancers with an initial focus on ovarian and endometrial cancers; and TCER® IMA401 targeting MAGEA4/8 demonstrating clinical proof-of-concept during dose escalation and positioned in squamous NSCLC and head and neck cancer. Today, we are very pleased to announce first clinical data on TCER® IMA402 targeting PRAME, which show promising signals of anti-tumor activity during early dose escalation and is initially positioned in 1L+ melanoma,” said Harpreet Singh, Ph.D., CEO and Co-Founder of Immatics. “With our enhanced cash runway into the second half of 2027, Immatics is well positioned to advance all four candidates to highly relevant value inflection points with a specific focus on delivering meaningful clinical signals in multiple solid cancers in the coming year.”
Third Quarter 2024 and Subsequent Company Progress
TCER® IMA402 (PRAME)
Today, Immatics is providing 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.
Patient Population: As of the data cut-off on November 6, 2024, 33 heavily pretreated patients with recurrent and/or refractory solid tumors have been treated with a dose range from 0.02 mg to 4 mg of IMA402 monotherapy. The treated patient population is composed of patients with a median of three and a maximum of five lines of prior systemic treatments. The safety population includes all 33 patients treated with IMA402, of which 21 patients were evaluable for efficacy analysis and are PRAME-positive or were not tested for PRAME. Of these 21 patients, eight patients received at least one dose of IMA402 at dose level 7 (DL7, 3 mg), and one patient received IMA402 at dose level 8 (DL8, 4 mg). Based on preclinical in-vivo data, relevant anti-tumor efficacy was expected starting at ~3 mg human equivalent dose, which aligns with the initial clinical anti-tumor activity reported today.
Safety: IMA402 demonstrated a favorable tolerability profile in the 33 patients treated. The most common treatment-related adverse events (AEs) were mostly mild to moderate cytokine release syndrome (CRS) and transient lymphopenia. Step dosing has been implemented and dose escalation is ongoing. The maximum tolerated dose has not yet been determined.
Pharmacokinetics: Early pharmacokinetic data indicate a median half-life of approximately seven days, potentially enabling bi-weekly dosing.
Initial Anti-Tumor Activity: Initial signs of clinical activity have been observed and are associated with PRAME expression and IMA402 dose levels administered.
- In the PRAME-negative patient population across all doses and indications, only one patient out of seven (
14% ) showed tumor shrinkage of -2.9% . - In comparison, in the PRAME-positive or non-tested patients across all indications treated with low dose levels (DLs 1-6), tumor shrinkage was observed in
25% (3/12) of patients, including one unconfirmed partial response in a cutaneous melanoma patient. - Nine patients with tumors that tested PRAME-positive or were not tested for PRAME received a relevant dose (8 patients at DL7 and 1 patient at DL8).
78% (7/9) thereof experienced shrinkage of their target lesions, including several patients with significant ongoing tumor shrinkage:- one cutaneous melanoma patient with an ongoing (at 3 months post first dose at data cut-off) confirmed partial response with -
40.2% tumor shrinkage treated at DL7; - two patients with ongoing (at 6+ weeks and 8+ months) stable diseases with significant tumor shrinkage (-
27.5% in a patient with cutaneous melanoma at DL8 and at first scan; -25% in a patient with uveal melanoma deepening over time and treated at escalating doses starting at DL4 and currently at DL7); - one ovarian cancer patient with ongoing (at 3 months) stable disease and tumor shrinkage of -
13% started at DL6 and currently at DL7.
- one cutaneous melanoma patient with an ongoing (at 3 months post first dose at data cut-off) confirmed partial response with -
Early Signs of Clinical Activity Associated with PRAME Expression and IMA402 Dose
*Patients who received DL7 or higher, either from start or as part of intra-patient dose-escalation; #continuing treatment; PD: Progressive Disease; SD: Stable Disease; PR: Partial Response; cPR: confirmed Partial Response; BOR: Best Overall Response; BL: Baseline; NT: not tested or not evaluable for PRAME expression
More information and details on the IMA402 clinical data are available on the Events & Presentations page of the Immatics corporate website: https://investors.immatics.com/events-presentations
Based on these 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. The next data update on IMA402 is planned for 2025.
TCER® IMA401 (MAGEA4/8)
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 and also exploring the incremental clinical benefit available to patients through combining IMA401 with a checkpoint inhibitor. The next data update on IMA401 is expected in 2025.
ACTengine® Cell Therapy Programs
ACTengine® IMA203
On November 8, 2024, Immatics announced an expanded clinical dataset that included all infused patients in the Phase 1b dose expansion part of the trial (N=41), consisting of the 28 melanoma patients reported on October 10, 2024, and 13 non-melanoma patients, of which 10 non-melanoma patients were reported on November 8, 2023.
As of the data cut-off on August 23, 2024, treatment with IMA203 monotherapy in the 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
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).
Based on the Phase 1b data and discussions with the U.S. Food and Drug Administration, Immatics is on track to commence SUPRAME, the registration-enabling Phase 3 randomized-controlled clinical trial in melanoma for IMA203, in December 2024.
SUPRAME will evaluate IMA203 targeting PRAME in 360 HLA-A*02:01-positive patients with second-line or later (2L+) unresectable or metastatic melanoma who have received prior treatment with a checkpoint inhibitor. Patients will be randomized 1:1 for IMA203 or investigator’s choice of selected approved treatments in the 2L+ setting, including nivolumab/relatlimab, nivolumab, ipilimumab, pembrolizumab, lifileucel (U.S. only) or chemotherapy. The primary endpoint for full approval will be median PFS and secondary endpoints will include objective response rate, safety, duration of response, no overall survival detriment and patient-reported outcomes.
Patient enrollment for SUPRAME is forecast to be completed in 2026, and a pre-specified interim analysis is planned for early 2026. Immatics aims to submit a Biologics License Application (BLA) in early 2027 for full approval.
ACTengine® IMA203CD8 (GEN2) monotherapy
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 compared to 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 - Median duration of response of 9.2 months at a median follow-up of 13.1 months
- Tumor shrinkage of
84% 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 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 a medium-level of PRAME copy numbers, such as ovarian cancer and endometrial cancer.
Corporate Development
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 dose escalation trial with IMA401 is ongoing and will continue to be conducted by Immatics.
Third Quarter 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 loss was
Full financial statements can be found in the 6-K filed with the Securities and Exchange Commission (SEC) on November 18, 2024, and published on the SEC website under www.sec.gov.
Upcoming Investor Conferences
Jefferies London Healthcare Conference, London, United Kingdom – November 19 – 21, 2024
To see the full list of events and presentations, visit www.investors.immatics.com/events-presentations.
About IMA402
TCER® IMA402 is a drug candidate owned by Immatics. IMA402 is Immatics’ second TCER® molecule from the bispecifics pipeline and is directed against an HLA-A*02-presented peptide derived from preferentially expressed antigen in melanoma (PRAME), a protein frequently expressed in a large variety of solid cancers, thereby supporting the program’s potential to address a broad cancer patient population. Immatics’ PRAME peptide is present at a high copy number per tumor cell and is homogenously and specifically expressed in tumor tissue. The peptide has been identified and characterized by Immatics’ proprietary mass spectrometry-based target discovery platform, XPRESIDENT®. IMA402 is part of Immatics’ strategy to leverage the full clinical potential of targeting PRAME, one of the most promising targets for TCR-based therapies.
- END -
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 X, Instagram and LinkedIn.
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: +49 171 3512733 | |
| immatics@trophic.eu | |
| Immatics N.V. | |
| Jordan Silverstein | |
| Head of Strategy | |
| Phone: +1 346 319-3325 | |
| InvestorRelations@immatics.com | |
Immatics N.V. and subsidiaries
Condensed Consolidated Statement of Loss of Immatics N.V.
| Three months ended September 30, | Nine months ended September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| (Euros in thousands, except per share data) | (Euros in thousands, except per share data) | |||
| Revenue from collaboration agreements | 50,559 | 5,926 | 99,583 | 38,076 |
| Research and development expenses | (38,906) | (30,498) | (106,230) | (85,396) |
| General and administrative expenses | (11,156) | (8,881) | (32,925) | (27,825) |
| Other income | 17 | 186 | 54 | 1,134 |
| | | | | |
| Operating result | 514 | (33,267) | (39,518) | (74,011) |
| Change in fair value of liabilities for warrants | 3,833 | (1,395) | 4,228 | (7,103) |
| Other financial income | 5,889 | 9,748 | 18,707 | 14,414 |
| Other financial expenses | (12,589) | (1,575) | (5,342) | (4,146) |
| | | | | |
| Financial result | (2,867) | 6,778 | 17,593 | 3,165 |
| | | | | |
| Loss before taxes | (2,353) | (26,489) | (21,925) | (70,846) |
| Taxes on income | (6,217) | — | (7,720) | — |
| Net loss | (8,570) | (26,489) | (29,645) | (70,846) |
| | | | | |
| Net loss per share: | | | | |
| Basic | (0.08) | (0.32) | (0.29) | (0.90) |
| Diluted | (0.11) | (0.32) | (0.31) | (0.90) |
Immatics N.V. and subsidiaries
Condensed Consolidated Statement of Comprehensive Loss of Immatics N.V.
| Three months ended September 30, | Nine months ended September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| (Euros in thousands) | (Euros in thousands) | |||
| Net loss | (8,570) | (26,489) | (29,645) | (70,846) |
| Other comprehensive income | | | | |
| Items that may be reclassified subsequently to profit or loss | | | | |
| Currency translation differences from foreign operations | (1,377) | 429 | (579) | 769 |
| | | | | |
| Total comprehensive loss for the year | (9,947) | (26,060) | (30,224) | (70,077) |
Immatics N.V. and subsidiaries
Condensed Consolidated Statement of Financial Position of Immatics N.V.
| | | |
| As of | ||
| September 30, 2024 | December 31, 2023 | |
| (Euros in thousands) | ||
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 189,199 | 218,472 |
| Other financial assets | 301,321 | 207,423 |
| Accounts receivables | 2,951 | 4,093 |
| Other current assets | 19,306 | 19,382 |
| Total current assets | 512,777 | 449,370 |
| Non-current assets | ||
| Property, plant and equipment | 48,424 | 43,747 |
| Intangible assets | 1,506 | 1,523 |
| Right-of-use assets | 13,327 | 13,308 |
| Other non-current assets | 1,199 | 2,017 |
| Total non-current assets | 64,456 | 60,595 |
| Total assets | 577,233 | 509,965 |
| Liabilities and shareholders’ equity | ||
| Current liabilities | ||
| Provisions | 5,144 | — |
| Accounts payables | 22,095 | 25,206 |
| Deferred revenue | 68,928 | 100,401 |
| Liabilities for warrants | 14,765 | 18,993 |
| Lease liabilities | 2,825 | 2,604 |
| Other current liabilities | 15,155 | 9,348 |
| Total current liabilities | 128,912 | 156,552 |
| Non-current liabilities | ||
| Deferred revenue | 52,597 | 115,527 |
| Lease liabilities | 13,198 | 12,798 |
| Other non-current liabilities | — | 4 |
| Total non-current liabilities | 65,795 | 128,329 |
| Shareholders’ equity | ||
| Share capital | 1,031 | 847 |
| Share premium | 1,010,648 | 823,166 |
| Accumulated deficit | (626,938) | (597,293) |
| Other reserves | (2,215) | (1,636) |
| Total shareholders’ equity | 382,526 | 225,084 |
| Total liabilities and shareholders’ equity | 577,233 | 509,965 |
Immatics N.V. and subsidiaries
Condensed Consolidated Statement of Cash Flows of Immatics N.V.
| | | |
| Nine months ended September 30, | ||
| | 2024 | 2023 |
| (Euros in thousands) | ||
| Cash flows from operating activities | ||
| Net loss | (29,645) | (70,846) |
| Taxes on income | 7,720 | — |
| Loss before tax | (21,925) | (70,846) |
| Adjustments for: | ||
| Interest income | (18,185) | (8,993) |
| Depreciation and amortization | 9,149 | 5,432 |
| Interest expenses | 654 | 620 |
| Equity-settled share-based payment | 13,112 | 16,299 |
| Loss from disposal of fixed assets | 1 | |
| Net foreign exchange differences and expected credit losses | 4,018 | (760) |
| Change in fair value of liabilities for warrants | (4,228) | 7,103 |
| Changes in: | ||
| Decrease in accounts receivables | 1,142 | 596 |
| Decrease/(increase) in other assets | (2,623) | 658 |
| (Decrease) in deferred revenue, accounts payables and other liabilities | (91,113) | (15,641) |
| Interest received | 11,098 | 4,904 |
| Interest paid | (654) | (221) |
| Income tax paid | — | — |
| Net cash used in operating activities | (99,554) | (60,849) |
| Cash flows from investing activities | ||
| Payments for property, plant and equipment | (14,598) | (21,506) |
| Payments for intangible assets | (148) | (158) |
| Payments for investments classified in other financial assets | (356,596) | (299,018) |
| Proceeds from maturity of investments classified in other financial assets | 266,361 | 229,557 |
| Proceeds from disposal of property, plant and equipment | 1 | — |
| — | — | |
| Net cash used in investing activities | (104,980) | (91,125) |
| Cash flows from financing activities | ||
| Proceeds from issuance of shares to equity holders | 174,554 | 90,404 |
| Transaction costs deducted from equity | (2,039) | |
| Repayments related to lease liabilities | (1,228) | (2,877) |
| Net cash provided by financing activities | 173,326 | 85,488 |
| | ||
| Net decrease in cash and cash equivalents | (31,208) | (66,486) |
| Cash and cash equivalents at beginning of the year | 218,472 | 148,519 |
| Effects of exchange rate changes, expected credit losses and accrued interest on cash and cash equivalents | 1,935 | 1,413 |
| Cash and cash equivalents at end of the year | 189,199 | 83,446 |
Immatics N.V. and subsidiaries
Condensed 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, 2023 | 767 | 714,177 | (500,299) | (1,481) | 213,164 |
| Other comprehensive income | — | — | — | 769 | 769 |
| Net loss | — | — | (70,846) | — | (70,846) |
| Comprehensive loss for the year | — | — | (70,846) | 769 | (70,077) |
| Equity-settled share-based compensation | — | 16,299 | — | — | 16,299 |
| Share options exercised | — | 140 | — | — | 140 |
| Issue of share capital – net of transaction costs | 80 | 88,145 | — | — | 88,225 |
| Balance as of September 30, 2023 | 847 | 818,761 | (571,145) | (712) | 247,751 |
| Balance as of January 1, 2024 | 847 | 823,166 | (597,293) | (1,636) | 225,084 |
| Other comprehensive income | — | — | — | (579) | (579) |
| Net loss | — | — | (29,645) | — | (29,645) |
| Comprehensive loss for the year | — | — | (29,645) | (579) | (30,224) |
| Equity-settled share-based compensation | — | 13,112 | — | — | 13,112 |
| Share options exercised | 1 | 1,113 | — | — | 1,114 |
| Issue of share capital – net of transaction costs | 183 | 173,257 | — | — | 173,440 |
| Balance as of September 30, 2024 | 1,031 | 1,010,648 | (626,938) | (2,215) | 382,526 |
| |
1 All amounts translated using the exchange rate published by the European Central Bank in effect as of September 30, 2024 (1 EUR = 1.1196 USD).
Attachment
FAQ
What were the key clinical results for TCER® IMA402 in Q3 2024?
When will Immatics (IMTX) start the SUPRAME Phase 3 trial?
What was Immatics' (IMTX) financial position as of September 30, 2024?
