Immatics Announces Full Year 2024 Financial Results and Business Update

Core Viewpoint - Immatics N.V. is advancing its T cell-redirecting cancer immunotherapy portfolio, with significant milestones expected in 2025, including the initiation of a Phase 3 trial for its lead therapy IMA203 and expansion into additional cancer types [2][3]. Group 1: Clinical Development - The SUPRAME trial for IMA203, targeting advanced melanoma, commenced in December 2024, with the first patient randomized and enrollment ongoing [5][6]. - IMA203 has shown promising Phase 1b results, with a confirmed objective response rate (ORR) of 54%, a median duration of response (mDOR) of 12.1 months, and a median progression-free survival (mPFS) of 6 months [4][13]. - The company plans to expand IMA203's application to uveal melanoma through an ongoing Phase 1b trial [9]. Group 2: Financial Performance - As of December 31, 2024, the company reported cash and cash equivalents of $628.0 million (€604.5 million), an increase from $442.5 million (€425.9 million) in 2023, primarily due to public offerings [33]. - Total revenue for 2024 was $161.9 million (€155.8 million), significantly up from $56.1 million (€54.0 million) in 2023, driven by one-time revenue from collaboration terminations [34]. - The company achieved a net profit of $15.8 million (€15.2 million) in 2024, a turnaround from a net loss of $98.3 million (€94.6 million) in 2023 [36]. Group 3: Manufacturing and Supply Chain - Immatics is enhancing its in-house TCR-T manufacturing facility to support commercial supply, with a high manufacturing success rate of over 95% [11][10]. - The manufacturing process allows for the production of IMA203 from a patient's leukapheresis within 7 days, followed by a 7-day quality control release [11]. Group 4: Future Plans and Collaborations - The company aims to submit a Biologics License Application (BLA) for IMA203 in Q1 2027, with a planned launch in Q3 2027 [8]. - Immatics is collaborating with Moderna to evaluate IMA203 in combination with Moderna's therapy, aiming to enhance T cell responses and reduce costs [29].