Immatics N.V. (NASDAQ: IMTX ) is developing a cell therapy called Anzu-cel (anzutresgene autoleucel, IMA203) for melanoma and other potential cancers that could bring in hundreds of millions or more annually. The company has already produced some data with Anzu-celScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment a ...

Immatics N.V. (NASDAQ: IMTX ) is developing a cell therapy called Anzu-cel (anzutresgene autoleucel, IMA203) for melanoma, and other potential cancers, that could bring in hundreds of millions or more annually. The company has already produced some data with Anzu-cel and isScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute inv ...

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Houston, Texas and Tuebingen, Germany, October 1, 2025 – Immatics N.V. (NASDAQ: IMTX, “Immatics” or the “Company”), a clinical-stage biopharmaceutical company and the global leader in precision targeting of PRAME, today announced the appointment of Venkat Ramanan, Ph.D., as Chief Financial Officer (“CFO”), effective immediately. Dr. Ramanan is a seasoned financial leader in the biopharmaceutical industry with over 25 years of experience at companies including Seagen, Gilead Sciences and Amgen. He brings dee ...

Core Insights - Immatics (IMTX) reported a quarterly loss of $0.66 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.38, marking a 73.68% earnings surprise [1] - The company's revenues for the quarter ended June 2025 were $5.38 million, missing the Zacks Consensus Estimate by 62.32%, and down from $20.19 million year-over-year [2] - Immatics has underperformed the market, with shares down about 9.7% year-to-date compared to the S&P 500's gain of 9.6% [3] Financial Performance - Over the last four quarters, Immatics has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.38 on revenues of $14.27 million, and for the current fiscal year, it is -$1.34 on revenues of $63.66 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Immatics belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Immatics' stock performance [5]

Exhibit 99.1 PRELIMINARY NOTE The unaudited interim condensed Consolidated Financial Statements for the three- and six-month period ended June 30, 2025, included herein, have been prepared in accordance with International Accounting Standard 34 ("Interim Financial Reporting"), as issued by the International Accounting Standards Board ("IASB"). The Consolidated Financial Statements are presented in euros. All references in this interim report to "$," and "U.S. dollars" mean U.S. dollars and all references to ...

Core Insights - Immatics N.V. is advancing its PRAME cell therapy, anzu-cel, targeting advanced melanoma, with a focus on the ongoing SUPRAME Phase 3 trial as a top priority for market entry [2][3][7] - The company reported a significant decrease in total revenue for Q2 2025, amounting to $5.5 million, compared to $22.0 million in Q2 2024, primarily due to lower collaboration revenue [14] - Immatics has a strong cash position of $560.5 million as of June 30, 2025, which is expected to sustain operations into the second half of 2027 [6][13] Company Progress - Anzu-cel (IMA203) is set to be the first PRAME therapy to enter the market, targeting approximately 9,000 patients with advanced cutaneous melanoma and metastatic uveal melanoma [3][6] - The Phase 1b trial for anzu-cel demonstrated a clinical objective response rate (cORR) of 56% and a median duration of response (mDOR) of 12.1 months in heavily pretreated patients [6][7] - The SUPRAME trial is designed to evaluate anzu-cel against the investigator's choice in patients with unresectable or metastatic cutaneous melanoma, with primary endpoints focused on progression-free survival [7] Financial Results - Research and development expenses increased to $52.9 million for Q2 2025, up from $41.3 million in Q2 2024, reflecting ongoing clinical trial advancements [15] - The net loss for Q2 2025 was $82.4 million, compared to a net loss of $21.1 million in Q2 2024, attributed to lower revenue and higher unrealized foreign exchange losses [19] - General and administrative expenses rose to $15.0 million in Q2 2025, compared to $11.8 million in Q2 2024, indicating increased operational costs [18] Upcoming Developments - Immatics plans to provide updates on its next-generation PRAME bispecific, IMA402, and second-generation PRAME cell therapy, IMA203CD8, in the upcoming months [2][9] - A Phase 2 cohort for uveal melanoma is set to commence in Q4 2025, with data from the ongoing Phase 1b trial to be presented at the ESMO Congress 2025 [16] - The company is also developing IMA401, targeting MAGEA4/8, with updates expected in Q4 2025 [11][17]

PRAME Franchise & Market Opportunity - Immatics is developing three clinical product candidates (IMA402, IMA203, IMA203CD8) precisely targeting PRAME, an intracellular protein presented on tumor cell surfaces[10, 12] - PRAME expression is prevalent in over 50 cancers[8], with prevalence ranging from 20% in Hepatocellular Carcinoma and Bladder Carcinoma to 95% in Cutaneous Melanoma, Uterine Carcinoma, and Synovial Sarcoma[9] - The addressable PRAME+/HLA-A*02:01+ patient population in the US & EU5 is estimated to be approximately 230,000 per year[20, 24] IMA203 PRAME Cell Therapy (Wave 1) - In a Phase 1 study, IMA203 demonstrated a confirmed objective response rate (cORR) of 56% (18/32) in heavily pretreated patients with metastatic melanoma[34, 45] - The median duration of response (mDOR) was 121 months, with ongoing responses for up to 25+ years[34] - The median progression-free survival (mPFS) was 61 months, and the median overall survival (mOS) was 159 months in all melanoma patients[34, 51] - The SUPRAME Phase 3 trial is actively enrolling patients with unresectable or metastatic melanoma post-ICI, with a planned launch in Q3 2027[35, 59] - Approximately 9,000 PRAME+/HLA-A*02:01+ patients in the US/EU5 with cutaneous and uveal melanoma are addressable[34] IMA203CD8 PRAME Cell Therapy (GEN2) (Wave 2) - IMA203CD8 is a next-generation PRAME cell therapy leveraging CD8 and CD4 T cells, with enhanced pharmacology[24] - In a Phase 1a dose escalation study, IMA203CD8 achieved a cORR of 41% (14/34) at presumably suboptimal doses, with 84% (32/38) of patients experiencing tumor shrinkage[73, 85] - The median duration of response (mDOR) was 92 months, with 3 confirmed responses ongoing at 1+ year[73, 85] - The addressable PRAME+/HLA-A*02:01+ patient opportunity for IMA203CD8 is approximately 75,000 per year, including indications with both high and medium-level PRAME expression[20, 68] IMA402 PRAME Bispecific (Wave 3) - IMA402 is a next-generation half-life extended bispecific primarily targeting first-line settings in combination with ICI and targeted agents[22] - Early signs of clinical activity have been observed, with a melanoma patient achieving a confirmed partial response ongoing at 3 months at DL7[115] - The addressable PRAME+/HLA-A*02:01+ patient population for IMA402 in 1L solid tumors is approximately 145,000 in the US & EU5[20, 100] Beyond PRAME: IMA401 MAGEA4/8 Bispecific - IMA401 is a bispecific targeting MAGEA4/8, with a Phase 1a study demonstrating a 29% (5/17) ORR and 25% (4/16) cORR in patients with MAGEA4/8high expression at relevant doses[132, 149] - The addressable MAGEA4/8+ and HLA-A*02:01+ patient population in the US & EU5 is approximately 62,000 per year[128, 130]

Core Viewpoint - Immatics (IMTX) shows significant upside potential with a mean price target of $16.50, indicating a 174.5% increase from the current price of $6.01 [1] Price Targets - The average of seven short-term price targets ranges from a low of $10 to a high of $25, with a standard deviation of $5.01, suggesting a variability in analyst estimates [2] - The lowest estimate indicates a 66.4% increase, while the highest points to a 316% upside [2] - A low standard deviation indicates a strong agreement among analysts regarding the price movement direction [9] Analyst Sentiment - Analysts have shown increasing optimism about IMTX's earnings prospects, as evidenced by a positive trend in earnings estimate revisions [11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 5.1%, with two estimates moving higher and one lower [12] - IMTX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - Solely relying on price targets for investment decisions may not be wise, as analysts' ability to set unbiased targets has been questioned [3][7] - Analysts often set overly optimistic price targets due to business incentives, which can lead to inflated estimates [8] - While price targets should not be ignored, they should be approached with skepticism as they may not accurately predict stock price movements [10]

Core Insights - Immatics N.V. announced expanded data from the Phase 1b clinical trial of IMA203 PRAME cell therapy, showing a confirmed overall response rate (ORR) of 56% in heavily pretreated patients with metastatic melanoma [1][8][11] - The ongoing Phase 3 SUPRAME trial is evaluating IMA203 in patients with unresectable or metastatic cutaneous melanoma who have previously received checkpoint inhibitors [1][12][13] Phase 1b Trial Data - The trial included 33 heavily pretreated patients with a median of 2 prior systemic treatments, with a focus on cutaneous melanoma (n=14), uveal melanoma (n=16), and other subtypes [4][8] - The confirmed ORR was 56%, with a median duration of response (mDOR) of 12.1 months and a median progression-free survival (mPFS) of 6.1 months [8][9] - In the cutaneous melanoma subgroup, the confirmed ORR was 50%, with mDOR not reached and mPFS of 6.0 months [8][9] - The uveal melanoma subgroup showed a confirmed ORR of 67% and mDOR of 11.0 months [8][9] Safety and Tolerability - IMA203 maintained a favorable tolerability profile across 74 patients, with manageable treatment-emergent adverse events primarily related to lymphodepletion [5][6] - Cytokine release syndrome (CRS) was mostly Grades 1 and 2, with no long-term CRS observed [6][7] - Immune effector cell-associated neurotoxicity syndrome (ICANS) was infrequent and mostly mild [6][7] SUPRAME Phase 3 Trial Overview - The SUPRAME trial is a randomized, controlled study involving approximately 360 patients with unresectable or metastatic cutaneous melanoma [12][13] - The primary endpoint is progression-free survival (PFS) assessed by blinded independent central review [13] - Patient enrollment began in early 2025, with completion expected in 2026, and a Biologics License Application (BLA) is planned for submission in Q1 2027 [15] PRAME Target and Company Positioning - PRAME is expressed in over 50 cancers, and Immatics aims to establish a broad PRAME franchise with multiple indications and modalities [3][16] - The company is positioned as a global leader in precision targeting of PRAME, with IMA203 being a key product candidate [3][16][17]