Immatics N.V.(IMTX)
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Immatics N.V.(IMTX) - 2024 Q2 - Quarterly Report
2024-08-13 11:07
Exhibit 99.1 As used in this interim report, the terms "Immatics", "we", "our", "us", "the Group" and "the Company" refer to Immatics N.V. and its subsidiaries, taken as a whole, unless the context otherwise requires. The unaudited interim condensed consolidated financial statements and Management's Discussion & Analysis of Financial Condition and Results of Operations in this interim report are related to Immatics N.V. and its German subsidiary Immatics Biotechnologies GmbH as well as its U.S. subsidiary I ...
Immatics Announces Second Quarter 2024 Financial Results and Business Update
GlobeNewswire News Room· 2024-08-13 11:00
Core Insights - Immatics N.V. reported a confirmed objective response rate of 55% for its ACTengine® IMA203 targeting PRAME in a Phase 1 trial involving 30 heavily pre-treated metastatic melanoma patients, with a median duration of response of 13.5 months [1][4][5] - The company plans to initiate a registration-enabling randomized Phase 2/3 trial for ACTengine® IMA203 in 2024 and will present further data updates in the second half of 2024 [1][2][3] - Immatics has a strong cash position of €531.1 million ($568.5 million) as of June 30, 2024, which is expected to fund operations into 2027 [1][15] Clinical Development - The IMA203 monotherapy demonstrated a disease control rate of 90% and tumor shrinkage in 87% of patients [4][5] - The next data update for IMA203 and IMA203CD8 (GEN2) is scheduled for the second half of 2024, focusing on translational and clinical data [1][5][6] - Immatics is expanding its clinical focus beyond melanoma to include ovarian and uterine cancers [6] TCR Bispecific Programs - Immatics is developing next-generation T cell engaging receptor (TCER®) candidates, including IMA401 and IMA402, designed to enhance efficacy while minimizing toxicities [7][13] - Initial clinical data for TCER® IMA401 will be presented at the ESMO Congress on September 16, 2024 [8][9] - IMA402 is currently in a Phase 1/2 trial targeting PRAME and is focused on multiple solid tumors, including ovarian and lung cancers [13] Corporate Developments - Alise Reicin, M.D., was appointed to the Board of Directors, bringing extensive experience in clinical development [14] - The company reported total revenue of €18.8 million ($20.1 million) for Q2 2024, a decrease from €22.4 million ($24.0 million) in Q2 2023, primarily due to a one-time revenue in the previous year [16] - Research and development expenses increased to €35.2 million ($37.7 million) in Q2 2024, reflecting ongoing advancements in the clinical pipeline [17] Financial Performance - Immatics reported a net loss of €18.0 million ($19.3 million) for Q2 2024, an improvement from a net loss of €24.6 million ($26.3 million) in Q2 2023 [19] - The company’s cash position increased from €425.9 million ($455.9 million) at the end of 2023 to €531.1 million ($568.5 million) by June 30, 2024, mainly due to a public offering [15][16] - Total assets as of June 30, 2024, were €626.97 million, up from €509.97 million at the end of 2023 [26]
Immatics Appoints Alise Reicin to Board of Directors
Newsfilter· 2024-07-31 11:00
Core Insights - Immatics N.V. has appointed Dr. Alise Reicin to its Board of Directors, bringing extensive experience in the pharmaceutical industry and a history of developing significant therapies like Keytruda® [1][2][3] - Dr. Reicin's leadership is expected to enhance Immatics' efforts in advancing TCR-based therapies for solid tumors, addressing unmet medical needs in cancer treatment [2][8] Company Overview - Immatics is a clinical-stage biopharmaceutical company focused on discovering and developing T cell-redirecting cancer immunotherapies, with a pipeline that includes Adoptive Cell Therapies and TCR Bispecifics [4] - The company aims to enable robust T cell responses against cancer targets, leveraging partnerships with global pharmaceutical leaders [4] Leadership Experience - Dr. Reicin has held key positions in various pharmaceutical companies, including President of Global Clinical Development at Celgene and Senior Vice President at EMD Serono, contributing to the approval of multiple drugs [3] - Under her leadership at Tectonic Therapeutic, the company completed an $80 million Series A financing and advanced its first asset into clinical trials [3] Future Outlook - Dr. Reicin's appointment is set to continue through the Company's Annual General Meeting in 2025, indicating a long-term commitment to guiding Immatics' strategic direction [9] - The company is at a dynamic stage of development, particularly with its lead cell therapy candidate, ACTengine® IMA203, showing promising results in advanced metastatic melanoma patients [8]
Wall Street Analysts Predict a 54.95% Upside in Immatics (IMTX): Here's What You Should Know
ZACKS· 2024-07-22 15:00
The mean estimate comprises five short-term price targets with a standard deviation of $3.71. While the lowest estimate of $16 indicates a 27.8% increase from the current price level, the most optimistic analyst expects the stock to surge 99.7% to reach $25. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. Price, Consensus and EPS Surprise While Wall Street analysts ...
Here's Why 'Trend' Investors Would Love Betting on Immatics (IMTX)
ZACKS· 2024-07-22 13:51
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going. Immatics (IMTX) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors. However, ...
Immatics Announces Upcoming Oral Presentation at ESMO Congress 2024
Newsfilter· 2024-07-18 13:00
Full abstracts will be available on the ESMO website on Monday, September 9, 2024, at 00:05 CEST. Date / Time: September 16, 2024 / 11:25 CEST Session: Investigational Immunotherapy Title: Initial safety, pharmacokinetics, and anti-tumor activity data of TCER IMA401, a MAGEA4/8-directed half-life extended TCR Bispecific, in Phase 1 dose escalation Presenting author: Martin Wermke, MD (University Hospital Dresden, Germany) Room: Granada Auditorium - Hall 6 IMA401 is Immatics' most advanced TCER® molecule tha ...
Memo Therapeutics AG appoints Paul Carter as Chairperson
Newsfilter· 2024-07-08 11:00
Memo Therapeutics AG appoints Paul Carter as Chairperson Schlieren / Zurich, Switzerland, 8 July, 2024 – Memo Therapeutics AG (or "MTx"), a late-stage biotech company translating unique immune responses into superior medicines to treat viral infections and cancer, today announces the appointment of Paul Carter as Chairperson of the Board of Directors. Paul will replace Elias Papatheodorou, who was instrumental in the transition of MTx from a preclinical-stage to a well-funded clinical-stage company with an ...
Immatics (IMTX) Reports Q1 Loss, Tops Revenue Estimates
Zacks Investment Research· 2024-05-14 13:16
Immatics, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $32.87 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 85.05%. This compares to year-ago revenues of $10.65 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's ...
Immatics N.V.(IMTX) - 2024 Q1 - Quarterly Report
2024-05-14 11:03
Exhibit 99.1 PRELIMINARY NOTE The unaudited interim condensed Consolidated Financial Statements for the three-month period ended March 31, 2024, included herein, have been prepared in accordance with International Accounting Standard 34 ("Interim Financial Reporting"), as issued by the International Accounting Standards Board ("IASB"). The Consolidated Financial Statements are presented in euros. All references in this interim report to "$," and "U.S. dollars" mean U.S. dollars and all references to "€" and ...
Immatics Announces First Quarter 2024 Financial Results and Business Update
Newsfilter· 2024-05-14 11:00
Company Provides Clinical Data Update from Ongoing Phase 1 Clinical Trial with ACTengine® IMA203 TCR-T Targeting PRAME Houston, Texas and Tuebingen, Germany, May 14, 2024 – Immatics N.V. (NASDAQ:IMTX, "Immatics"))), 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 March 31, 2024. "Our lead cell therapy candidate, IMA203, continues to show deep ...