Immatics Announces First Quarter 2025 Financial Results and Business Update

Core Insights - Immatics N.V. is focused on advancing its clinical-stage PRAME cell therapy, IMA203, through ongoing trials and aims for commercialization in melanoma treatment [2][3][6] - The company reported a significant net loss of $43.2 million for Q1 2025, attributed to lower revenue and increased R&D expenses [19][16][17] Company Progress - The SUPRAME Phase 3 trial for IMA203 in advanced melanoma is ongoing, with enrollment expected to complete in 2026 [6][7] - Immatics is preparing its manufacturing facility to support the commercial supply of IMA203 and plans to expand its application to uveal melanoma [3][5] - The addressable patient population for PRAME therapies in the US and EU5 is approximately 8,600, including 7,300 for cutaneous melanoma and 1,300 for uveal melanoma [3] Clinical Trials - IMA203 is currently in a randomized-controlled Phase 3 trial, with primary endpoints focused on progression-free survival [7] - A Phase 1b trial for IMA203 in solid tumors, particularly uveal melanoma, is also ongoing [5][6] - The FDA has granted IND clearance for a Phase 1 trial combining IMA203 with Moderna's PRAME adaptive immune modulating therapy [10] Financial Results - As of March 31, 2025, the company reported cash and cash equivalents of $588.1 million, a decrease from $653.8 million at the end of 2024 [15] - Total revenue for Q1 2025 was $20.1 million, down from $32.8 million in Q1 2024, primarily due to the termination of a collaboration agreement [16] - R&D expenses increased to $45.3 million in Q1 2025 from $34.7 million in Q1 2024, reflecting the advancement of clinical programs [17] Upcoming Events - Immatics will present updates on its clinical trials at the 2025 ASCO Annual Meeting, including data on IMA203 and its combination therapies [2][12]