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Immatics N.V.

NASDAQ•IMTX
CEO: Dr. Harpreet Singh Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2018-12-12
Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics. Its products pipeline includes IMA203 that targets solid tumors, which is in Phase 1b clinical trial; IMA203CD8, a cell therapy product that is in Phase 1b clinical trial; IMA204 that targets tumor stroma, which is in preclinical stage; and IMA30x, an allogenic cellular therapy product candidate, which is in preclinical stage. The company also develops TCR Bispecifics products, including IMA401 and IMA402, which is in Phase 1a clinical trial. The company has a strategic collaboration agreement with MD Anderson Cancer Center to develop multiple T cell and TCR-based adoptive cellular therapies; Celgene Corporation to develop novel adoptive cell therapies targeting multiple cancers; and Genmab A/S to develop T cell engaging bispecific immunotherapies targeting multiple cancer indications. Immatics N.V. is headquartered in Tübingen, Germany.
Contact Information
Paul-Ehrlich-Strasse 15, Tübingen, 72076, Germany
49-7071-5397-0
www.immatics.com
Market Cap
$1.24B
P/E (TTM)
-5.4
17.9
Dividend Yield
--
52W High
$12.41
52W Low
$3.30
52W Range
65%
Rank61Top 91.5%
2.0
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025

Financial Dashboard

Q4 2025 Data

Revenue

$22.79M+0.00%
4-Quarter Trend

EPS

-$0.33+0.00%
4-Quarter Trend

FCF

-$68.21M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

anzu-cel Advanced Melanoma Data Phase 1b cORR 56% (18/32) in advanced melanoma; median OS 15.9 months; BLA submission targeted 1H 2027.
GEN2 Cell Therapy Activity IMA203CD8 showed 36% cORR (23/64) across solid tumors; deep responses up to 3+ years observed in trials.
Strong Cash Position Maintained Cash and equivalents €345.9M as of Dec 31, 2025; funded operations via €107.2M public offering proceeds in 2025.

Risk Factors

History of Operating Losses Operating result €182.0M loss in 2025; expect continued significant losses until commercial revenue generation begins.
Clinical Trial Execution Risks Trials face delays from recruitment challenges, regulatory hurdles, and complex manufacturing processes for novel therapies.
Capital Needs and Dilution Requires substantial future capital; equity raises risk shareholder dilution or debt financing imposes restrictive covenants.

Outlook

anzu-cel Regulatory Path Targeting BLA submission for anzu-cel in 1H 2027, aiming for U.S. market launch in 2H 2027, pending approval.
IMA203CD8 Development Advancement Complete dose escalation and determine RP2D for IMA203CD8 in 2026; focus on tumor-agnostic positioning in gynecologic cancers.
IMA402 Bispecific Milestones RP2D determination and Phase 1 data update for IMA402 planned for 2H 2026; initiate IMA402/IMA401 combo in 2026.

Peer Comparison

Revenue (TTM)

ARDX stock ticker logoARDX
$407.32M
+22.1%
SNDX stock ticker logoSNDX
$172.35M
+627.8%
SYRE stock ticker logoSYRE
$90.49M
+0.0%

Gross Margin (Latest Quarter)

SNDX stock ticker logoSNDX
102.3%
-13.9pp
ATAI stock ticker logoATAI
100.0%
+0.0pp
CVAC stock ticker logoCVAC
99.3%
+0.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
TERN$4.19B-45.2-30.0%0.3%
WVE$2.45B-11.5-85.0%2.8%
SYRE$2.41B-88.9-29.4%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.2%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Deep Research

Next earnings:Mar 26, 2026
|
EPS:-$0.48
|
Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data