IMTX · Immatics N.V.

Immatics N.V., a biotechnology company focused on PRAME-directed immunotherapies using T cells for cancer treatment, released its unaudited interim condensed consolidated financial statements for the three months ended March 31, 2026, alongside a business update. The net loss expanded to €57.8 million from €39.9 million in Q1 2025, primarily driven by a 41% increase in research and development expenses to €59.2 million, attributed to costs for advancing clinical trials, especially the Phase 3 SUPRAME trial of lead candidate anzu-cel (IMA203) in advanced cutaneous melanoma. Revenue from collaboration agreements dropped sharply to €7.6 million from €18.6 million, reflecting a lower proportion of costs incurred relative to project progress in the quarter, as noted in management's commentary. General and administrative expenses rose 20% to €14.5 million, linked to early commercial activities preparing for anzu-cel's potential 2027 launch. Cash burn intensified, with operating cash usage at €42.0 million versus €34.2 million prior year, offset partially by €21.0 million net proceeds from share issuance via an at-the-market offering. Ending cash and financial assets stood at €453.6 million ($521.5 million), down from €469.3 million at year-end 2025, with runway projected into 2028. Business highlights include expected SUPRAME Phase 3 interim and final PFS analyses in 2026 to support BLA filing in H1 2027, Phase 1 data for IMA203CD8 at ASCO 2026 in gynecologic cancers, IMA402 bispecific updates in 2H 2026, and a new Phase 1 combination trial of IMA402/IMA401 in sqNSCLC starting mid-2026. CEO Harpreet Singh emphasized the pivotal period ahead, with multiple readouts validating PRAME across solid tumors and modalities, positioning Immatics for commercialization and portfolio expansion beyond melanoma.