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Immatics (IMTX) investor relations material
Immatics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary12 Aug, 2025
Executive summary
Lead PRAME cell therapy, anzu-cel, showed 56% confirmed objective response rate (CORR) and 12.1 months median duration of response (mDOR) in heavily pretreated metastatic melanoma patients in Phase 1b trial, with favorable tolerability and durability at 13.4 months median follow-up.
Global Phase 3 SUPRAME trial for anzu-cel in advanced melanoma is ongoing, with interim and final analyses expected in 2026 and planned BLA submission in 1H 2027.
Pipeline includes next-generation PRAME cell therapy (IMA203CD8), PRAME bispecific (IMA402), and MAGEA4/8 bispecific (IMA401), all in ongoing Phase 1a trials with data updates expected in 4Q 2025.
CFO transition announced, with search for replacement underway.
Financial highlights
Cash and cash equivalents plus other financial assets totaled $560.5 million (€478.2 million) as of June 30, 2025, with cash reach into 2H 2027.
Revenue for Q2 2025 was $5.5 million (€4.7 million), down from $22.0 million (€18.8 million) in Q2 2024.
R&D expenses increased to $52.9 million (€45.1 million) from $41.3 million (€35.2 million) year-over-year.
Net loss widened to $82.4 million (€70.3 million) from $21.1 million (€18.0 million) in Q2 2024, mainly due to lower revenue and higher non-cash FX losses.
Outlook and guidance
Interim and final analyses for the SUPRAME Phase 3 trial are expected in 2026, with BLA submission targeted for 1H 2027 and potential launch in 2H 2027.
Data updates for IMA203CD8, IMA402, and IMA401 are planned for 4Q 2025.
Phase 2 cohort for anzu-cel in uveal melanoma to commence in 4Q 2025.
When are SUPRAME interim/final analyses expected?
Why did Q2 2025 net loss increase significantly?
CFO transition timeline and replacement search
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Q3 202514 Nov, 2025
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Frequently asked questions
Immatics N.V. is a clinical-stage biopharmaceutical company dedicated to the discovery and development of T cell redirecting immunotherapies aimed at treating cancer. The company's innovative approach combines the identification of true targets for cancer immunotherapies with the development of suitable T cell receptors. The company is headquartered in Tübingen, Germany, and its shares are listed on the Nasdaq.
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