View ValuationImmatics 将来の成長Future 基準チェック /26Immaticsは、20.1%と47.3%でそれぞれ年率20.1%で利益と収益が成長すると予測される一方、EPSはgrowで25.1%年率。主要情報20.1%収益成長率25.06%EPS成長率Biotechs 収益成長25.2%収益成長率47.3%将来の株主資本利益率n/aアナリストカバレッジGood最終更新日29 Jun 2026今後の成長に関する最新情報分析記事 • May 15Immatics N.V. (NASDAQ:IMTX) Just Released Its First-Quarter Results And Analysts Are Updating Their EstimatesIt's shaping up to be a tough period for Immatics N.V. ( NASDAQ:IMTX ), which a week ago released some disappointing...Price Target Changed • Nov 13Price target increased by 11% to US$16.29Up from US$14.71, the current price target is an average from 7 analysts. New target price is 63% above last closing price of US$9.98. Stock is up 17% over the past year. The company is forecast to post a net loss per share of €1.58 compared to earnings per share of €0.14 last year.Major Estimate Revision • Aug 20Consensus revenue estimates fall by 18%The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €58.8m to €48.1m. Forecast losses increased from -€1.17 to -€1.57 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target down from US$14.33 to US$13.67. Share price fell 8.2% to US$5.60 over the past week.Price Target Changed • Apr 22Price target decreased by 8.7% to US$15.30Down from US$16.75, the current price target is an average from 5 analysts. New target price is 254% above last closing price of US$4.32. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €1.17 compared to earnings per share of €0.14 last year.Major Estimate Revision • Apr 03Consensus revenue estimates increase by 35%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €60.3m to €81.3m. EPS estimate fell from -€1.11 to -€1.17 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$16.10 unchanged from last update. Share price fell 18% to US$3.84 over the past week.Price Target Changed • Jan 07Price target decreased by 8.8% to US$16.42Down from US$18.00, the current price target is an average from 6 analysts. New target price is 133% above last closing price of US$7.04. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.62 next year compared to a net loss per share of €1.20 last year.すべての更新を表示Recent updates分析記事 • Jun 18Immatics (IMTX) Stock Looks Expensive After PRAME Platform Update And Cash Runway To 2028Fresh commentary on Immatics (NasdaqCM:IMTX) highlights its evolution into a broader PRAME-focused oncology platform with multiple monetization paths, alongside reassurance that existing cash resources are expected to support operations into 2028. See our latest analysis for Immatics. Immatics shares recently traded at US$9.52, with a 1-day share price return of 4.73% and 7-day share price return of 7.33%. Over longer periods, the 30-day share price return is down 10.36% and the year-to-date...お知らせ • Jun 05Immatics N.V., Annual General Meeting, Jun 18, 2026Immatics N.V., Annual General Meeting, Jun 18, 2026. Location: offices of nautadutilh n.v., beethovenstraat 400, 1082 pr amsterdam, Netherlandsお知らせ • Jun 02+ 2 more updatesImmatics Presents Clinical Activity and Response Dynamics of Anzu-Cel Prame Cell Therapy At 2026 Asco Annual MeetingImmatics N.V. announced extended data from the ongoing Phase 1b clinical trial evaluating anzu-cel (anzutresgene autoleucel, IMA203) PRAME TCR T-cell therapy in heavily pretreated patients with advanced melanoma in an oral presentation at the Annual Meeting of the American Society for Clinical Oncology (ASCO) in Chicago, USA. The dataset is focused on patients treated with anzu-cel at the recommended Phase 2 dose (RP2D), including longer follow-up and further characterization of the durability and systemic nature of the observed clinical responses. One-time infusion of anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy induced rapid, deep and durable systemic anti-tumor activity in metastatic PD-1 relapsed cutaneous melanoma and metastatic uveal melanoma. Anzu-cel showed a 56% confirmed ORR, 14.6 months mDOR, 6.1 months mPFS and 16.2 months mOS at longer follow-up alongside a predictable and manageable tolerability profile in metastatic melanoma. Exploratory response analysis suggests continued control of baseline disease and anti-tumor activity across multiple metastatic disease sites with many lesions remaining controlled, some even after progression. Findings reinforce the continued effectiveness of anzu-cel to treat advanced melanoma; Phase 3 SUPRAME trial remains on track as it advances toward BLA submission in First Half 2027. As of September 24, 2025, 33 heavily pretreated patients with metastatic (stage IV) melanoma received a one-time infusion of anzu-cel at the recommended Phase 2 dose (RP2D, 1 - 10x10^9 TCR T cells) in the Phase 1b dose expansion. The treated patient population consisted of cutaneous melanoma (n=14), uveal melanoma (n=16), mucosal melanoma (n=2) and melanoma of unknown primary (n=1). All patients with cutaneous melanoma, mucosal melanoma and melanoma of unknown primary had metastatic stage IV disease including lesions in liver, brain and/or lung. All patients with uveal melanoma had metastatic stage IV disease with liver and/or extrahepatic metastases. Patients had a median of two prior lines of systemic treatment. The subgroup of patients with cutaneous melanoma (n=14) had a median of 2.5 lines of prior systemic treatments, including a median of two prior lines of immune checkpoint inhibitors. Of these, 64% (9/14) received a combination of ipilimumab and nivolumab and 29% (4/14) received a combination of nivolumab and relatlimab prior to anzu-cel infusion. Anzu-cel has maintained a manageable tolerability profile, which was consistent across patients with different melanoma subtypes. The most frequent treatment-emergent adverse events were anticipated cytopenias associated with lymphodepletion. Expected and manageable cytokine release syndrome (CRS) was mostly Grades 1 and 2, which is consistent with the mechanism of action. No patients experienced long-term CRS. Immune effector cell-associated neurotoxicity syndrome (ICANS) occurred infrequently, was manageable and mostly mild (Grades 1 and 2). Rapid, deep and durable anti-tumor activity of anzu-cel PRAME cell therapy, including durable responses up to greater than 3 years. cORR: 56% (18/32) for all melanoma, 50% (7/14) for cutaneous melanoma, 67% (10/15) for uveal melanoma. ORR: 64% (21/33) for all melanoma, 57% (8/14) for cutaneous melanoma, 69% (11/16) for uveal melanoma. DCR: 91% (30/33) for all melanoma, 93% (13/14) for cutaneous melanoma, 88% (14/16) for uveal melanoma. mDOR (range) /mFU [mo]: 14.6 (4.2, 38.2+) /18.7 for all melanoma, 17.9 (4.2, 38.2+) /18.7 for cutaneous melanoma, 11.0 (4.4, 31.6) /Not defined for uveal melanoma. mPFS (range) /mFU [mo]: 6.1 (1.4, 39.6+) /20.0 for all melanoma, 6.0 (1.4, 39.6+) /20.0 for cutaneous melanoma, 8.5 (1.4, 32.9) /10.4 for uveal melanoma. mOS (range) /mFU [mo]: 16.2 (2.4, 39.6+) /17.3 for all melanoma, 13.9 (2.4, 39.6+) /20.0 for cutaneous melanoma, Not reached (4.5, 34.2) /14.3 for uveal melanoma. The PFS rate was 55% at six months and 37% at 12 months. The overall survival rate was 70% at 12 months and 46% at 24 months. 42% (14/33) of patients experienced a deep response (greater than or equal to 50% tumor reduction). In these patients, mPFS was 15.9 months at 39.6 months mFU. Anzu-cel induced systemic anti-tumor activity across multiple metastatic sites, including difficult-to-treat metastases, such as liver, lung, lymph node, abdomen/peritoneum, skin and others. Even patients who had a best overall response of progressive disease (PD) according to RECIST 1.1 (n=3) experienced shrinkage of individual lesions. Progressive disease was frequently the result of new lesions, progression of non-target lesions, or selective outgrowths of individual lesions, while many target lesions remained controlled, indicating continued control of baseline disease. Responses occurred rapidly (median time to BOR: 1.4 months) and were durable across multiple metastatic sites, including target and non-target lesions. These findings support the continued development of anzu-cel in advanced melanoma. Immatics’ ongoing Phase 3 clinical trial, SUPRAME, is evaluating the efficacy, safety and tolerability of anzu-cel PRAME TCR T-cell therapy as a monotherapy vs. investigator's choice in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a PD-1 immune checkpoint inhibitor. In parallel, a Phase 2 cohort in metastatic uveal melanoma is ongoing and intended to support a potential label expansion for anzu-cel following expected initial approval in cutaneous melanoma. PRAME is a target expressed in more than 50 cancers. The Immatics PRAME franchise currently includes three product candidates, two therapeutic modalities and three combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8 PRAME cell therapy, IMA402 PRAME bispecific as monotherapy, in combination with immune checkpoint inhibitors, in combination with IMA401 MAGEA4/8 bispecific as well as anzu-cel in combination with Moderna’s PRAME mRNA designed to enhance cell therapy. Anzu-cel (anzutresgene autoleucel; IMA203) is a PRAME-directed TCR T-cell therapy engineered to recognize an intracellular PRAME-derived peptide presented by HLA-A*02:01 on the cell surface and initiate a potent and specific anti-tumor response. Anzu-cel PRAME cell therapy is currently being evaluated in a registration-enabling randomized controlled Phase 3 trial, “SUPRAME,” in patients with unresectable or metastatic cutaneous melanoma who have disease progression on or after treatment with at least one checkpoint inhibitor. In parallel, the Phase 1/2 clinical trial is ongoing with a focus on uveal melanoma.ライブニュース • May 31Immatics Reports Promising Response Rates for IMA203CD8 PRAME Cell Therapy in Solid TumorsImmatics reported updated Phase 1 data for its IMA203CD8 PRAME TCR T-cell therapy, showing objective response rates of 63% in ovarian and uterine cancers and 67% in synovial sarcoma. The therapy, given as a one-time infusion, was described as having manageable tolerability in these hard-to-treat solid tumors. The company plans to determine a recommended Phase 2 dose in 2026 and broaden clinical testing into additional PRAME-positive solid tumors. This set of Phase 1 results indicates clinical momentum around Immatics’ PRAME-targeted cell therapy platform, with a defined path toward Phase 2 dosing decisions and trial expansion. Investors may want to follow the 2026 updates, as safety data, durability of responses, and the design and timing of Phase 2 studies will be important in evaluating how this program could affect Immatics’ long-term pipeline and funding requirements.分析記事 • May 15Immatics N.V. (NASDAQ:IMTX) Just Released Its First-Quarter Results And Analysts Are Updating Their EstimatesIt's shaping up to be a tough period for Immatics N.V. ( NASDAQ:IMTX ), which a week ago released some disappointing...Reported Earnings • May 13First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: €0.43 loss per share (further deteriorated from €0.33 loss in 1Q 2025). Revenue: €7.61m (down 59% from 1Q 2025). Net loss: €57.8m (loss widened 45% from 1Q 2025). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • Apr 18Immatics N.V. Highlights Prame-Directed Tcr T-Cell Therapy Inducing Remission In Pediatric Nephroblastoma PatientImmatics N.V. announced that an abstract highlighting a pediatric patient treated with a PRAME-directed cell therapy using Immatics’ PRAME T-cell receptor (TCR) has been accepted for a late-breaking poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2026 in San Diego, California, USA. The abstract highlights the case of a 17-year-old adolescent with PRAME-positive advanced nephroblastoma, a malignant kidney cancer that predominantly occurs in children. The patient had rapidly progressing disease with metastases to the lung, liver and brain with an abdominal lesion measuring 16 cm in longest diameter. After exhausting all available treatment options and being ineligible for any ongoing clinical trial, the treating physician requested Immatics’ PRAME-directed TCR (encoded by the IMA203CD8 lentiviral vector) for an individual experimental treatment attempt (named-patient use; “Individueller Heilversuch” in Germany) at KiTZ, where a TCR T-cell therapy was manufactured. Following treatment, the patient experienced a deep anti-tumor response, with remission observed three months post-infusion and ongoing at six months of follow-up. PET scan and MRI imaging demonstrated marked tumor regression across all lesion sites. Additionally, liquid biopsy monitoring showed no more tumor-derived DNA, indicating molecular remission. Safety events reported in the abstract by the treating physician included cytokine release syndrome, which was manageable and resolved under multi-modal anti-cytokine therapy and corticosteroids. At six months of follow-up, the patient is in excellent physical condition. PRAME is a tumor target present on the cell surface of more than 50 cancers and can be targeted by TCR T-cell therapies. Based on the high PRAME expression across multiple different pediatric tumors in combination with the potential benefit of particularly strong immune responses in young patients, PRAME TCR T-cell therapies may offer a promising new treatment option for these patients. Immatics is planning to evaluate the potential of its PRAME TCR T-cell therapy candidates in pediatric patients with cancer and is assessing multiple options for clinical development including a potential first-in-pediatrics Phase 1/2 basket study in pediatric patients with HLA-A02:01-positive, PRAME-expressing relapsed or refractory solid tumors at KiTZ in Heidelberg. Immatics is developing PRAME-directed TCR T-cell therapies engineered to recognize an intracellular PRAME-derived peptide presented by HLA-A02:01 on the surface of tumor cells and to initiate a potent and specific anti-tumor response. Immatics’ PRAME-directed cell therapies are being evaluated in clinical trials across multiple PRAME-positive solid tumors in adult patients. Its lead PRAME cell therapy candidate, anzu-cel (anzutresgene autoleucel, IMA203) is currently being evaluated in a registration-enabling Phase 3 trial “SUPRAME” in previously treated advanced cutaneous melanoma and a Phase 2 trial in metastatic uveal melanoma. In addition, Immatics is evaluating its second-generation PRAME cell therapy, IMA203CD8, in a Phase 1a dose escalation trial in patients with PRAME-positive solid tumors, with a focus on gynecologic cancers. PRAME is a target expressed in more than 50 cancers. The Immatics PRAME franchise currently includes three product candidates, two therapeutic modalities and two combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8 PRAME cell therapy (GEN2), IMA402 PRAME bispecific as monotherapy and in combination with an immune checkpoint inhibitor as well as anzu-cel in combination with Moderna’s PRAME mRNA designed to enhance cell therapy.Reported Earnings • Mar 05Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: €1.61 loss per share (down from €0.14 profit in FY 2024). Revenue: €48.3m (down 69% from FY 2024). Net loss: €196.4m (down €211.7m from profit in FY 2024). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.お知らせ • Dec 05Immatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common Stock分析記事 • Dec 05Revenues Not Telling The Story For Immatics N.V. (NASDAQ:IMTX) After Shares Rise 28%Immatics N.V. ( NASDAQ:IMTX ) shares have continued their recent momentum with a 28% gain in the last month alone. The...Reported Earnings • Nov 19Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: €0.42 loss per share (further deteriorated from €0.083 loss in 3Q 2024). Revenue: €5.19m (down 90% from 3Q 2024). Net loss: €50.5m (loss widened 490% from 3Q 2024). Revenue missed analyst estimates by 52%. Earnings per share (EPS) also missed analyst estimates by 8.1%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.New Risk • Nov 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€149m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change).Price Target Changed • Nov 13Price target increased by 11% to US$16.29Up from US$14.71, the current price target is an average from 7 analysts. New target price is 63% above last closing price of US$9.98. Stock is up 17% over the past year. The company is forecast to post a net loss per share of €1.58 compared to earnings per share of €0.14 last year.お知らせ • Oct 27Immatics N.V. Appoints Amie Krause as Chief People Officer, Effective October 27, 2025Immatics N.V. announced the appointment of Amie Krause as Chief People Officer ("CPO") effective October 27, 2025. Ms. Krause brings more than 20 years of experience in shaping culture, leading organizational growth and aligning talent with business strategy, including across global biopharmaceutical companies. In this newly established role, she will lead Immatics' human resources, focusing on organizational development and operations as the company transitions to commercial stage. Amie Krause joins Immatics from Dompé, where she served as Chief Human Resources Officer. Prior to that, she was Chief People Officer at Revance Therapeutics. She previously served as Chief People Officer at Atara Biotherapeutics, a cell therapy company. Before Atara, Amie Krause spent over 10 years at Amgen, where she held multiple senior HR roles, including leading initiatives for global commercial operations for the Americas, Europe, Asia, Africa and the Middle East. In addition to her industry experience, Amie Krause serves as an Adjunct Professor at California Lutheran University's School of Management and a guest lecturer at the University of Southern California and the University of Alabama. Amie holds both a B.S. in business management and an MBA from California Lutheran University.お知らせ • Oct 02Immatics Announces CFO ChangesImmatics N.V. 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 deep financial expertise in facilitating successful product launches, establishing scalable operations in global markets and enabling corporate transactions. He joins Immatics from Anthos Therapeutics, a Novartis company, where he served as CFO. He will succeed Immatics’ current CFO, Arnd Christ. Dr. Ramanan brings more than 25 years of experience and leadership in finance, strategy and operations across large and small biopharmaceutical companies, with a proven track record of leading companies through periods of successful transformation and growth. He joins Immatics from Anthos Therapeutics, a clinical-stage biotechnology company acquired by Novartis in April 2025, where he served as CFO. Previously, he was CFO at Turnstone Biologics, where he led the company’s transition from a private to public company through its IPO. Earlier, as Senior Vice President Finance at Seagen, he oversaw the finance department enabling multiple product launches, global expansion and strategic transactions. He also held senior finance and business leadership roles at Gilead Sciences and Amgen. He began his career in the biopharmaceutical industry as a consultant with ZS Associates. Dr. Ramanan holds a Ph.D. in Engineering Mechanics from The Ohio State University.分析記事 • Sep 19Investors Don't See Light At End Of Immatics N.V.'s (NASDAQ:IMTX) TunnelWith a price-to-sales (or "P/S") ratio of 5.2x Immatics N.V. ( NASDAQ:IMTX ) may be sending bullish signals at the...Major Estimate Revision • Aug 20Consensus revenue estimates fall by 18%The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €58.8m to €48.1m. Forecast losses increased from -€1.17 to -€1.57 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target down from US$14.33 to US$13.67. Share price fell 8.2% to US$5.60 over the past week.Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: €0.58 loss per share (further deteriorated from €0.17 loss in 2Q 2024). Revenue: €4.74m (down 75% from 2Q 2024). Net loss: €70.3m (loss widened 290% from 2Q 2024). Revenue missed analyst estimates by 58%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.分析記事 • Jun 22We Think Immatics (NASDAQ:IMTX) Can Afford To Drive Business GrowthJust because a business does not make any money, does not mean that the stock will go down. For example, although...お知らせ • Jun 03Immatics N.V., Annual General Meeting, Jun 18, 2025Immatics N.V., Annual General Meeting, Jun 18, 2025. Location: offices of nautadutilh n.v., beethovenstraat 400, 1082 pr amsterdam, Netherlandsお知らせ • Jun 01Immatics IMA203 PRame Cell Therapy Data Presented at 2025 ASCO Annual Meeting Continues to Show Strong Anti-Tumor Activity and Durability in Patients with Metastatic MelanomaImmatics N.V. announced the presentation of expanded data from the ongoing Phase 1b clinical trial evaluating IMA203 PRAME cell therapy in heavily pretreated patients with metastatic melanoma. The longer follow-up of patients demonstrates a consistent and favorable tolerability profile as well as durable responses with a confirmed ORR of 56%. In addition, the Company provided details from a Trial in Progress poster on SUPRAME, the ongoing Phase 3 clinical trial evaluating IMA203 in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a checkpoint inhibitor. The data from the ongoing Phase 1ss trial will be presented on Saturday, May 31, 2025, during an oral presentation by Martin Wermke, M.D. These individuals are in urgent need of new treatments that deliver deeper and more durable responses.分析記事 • May 17Lacklustre Performance Is Driving Immatics N.V.'s (NASDAQ:IMTX) Low P/SWith a price-to-sales (or "P/S") ratio of 3.6x Immatics N.V. ( NASDAQ:IMTX ) may be sending very bullish signals at the...Reported Earnings • May 14First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: €0.33 loss per share (further deteriorated from €0.02 loss in 1Q 2024). Revenue: €18.6m (down 39% from 1Q 2024). Net loss: €39.9m (loss widened €37.6m from 1Q 2024). Revenue exceeded analyst estimates by 34%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • May 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$5.23, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 21x in the Biotechs industry in the US. Total loss to shareholders of 30% over the past three years.お知らせ • Apr 23Immatics N.V. Announces Upcoming Oral and Poster Presentation on IMA203 TCR T-Cell Therapy At 2025 Asco Annual MeetingImmatics N.V. announced upcoming presentations on its lead cell therapy product candidate, IMA203 TCR T-cell therapy targeting PRAME, at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting to be held from May 30 - June 3, 2025, in Chicago, Illinois. Updated data from the Phase 1b trial of IMA203 in patients with metastatic melanoma with substantially longer follow-up compared to the last presentation in October 2024, and including data from additional uveal melanoma patients enrolled since then, will be highlighted in an oral presentation. In addition, a trial-in-progress poster on SUPRAME, the ongoing Phase 3 clinical trial evaluating IMA203 in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a checkpoint inhibitor, will be presented at the conference. IMA203 is an autologous, engineered T-cell receptor T-cell therapy (TCR T) that targets PRAME, an intracellular protein displayed as a peptide antigen on the surface of multiple solid tumors via HLA-A*02:01, with minimal expression on healthy tissues. With precise targeting and a turnaround time of approximately 14 days, IMA203 has demonstrated a favorable clinical profile in patients with unmet medical needs. IMA203 TCR T-cell therapy is currently being evaluated in a registration-enabling randomized controlled Phase 3 trial, “SUPRAME,” in patients with unresectable or metastatic cutaneous melanoma who have disease progression on or after at least one PD-1 inhibitor. In parallel, the Phase 1b clinical trial in patients with solid tumors expressing PRAME is ongoing with a focus on uveal melanoma.Price Target Changed • Apr 22Price target decreased by 8.7% to US$15.30Down from US$16.75, the current price target is an average from 5 analysts. New target price is 254% above last closing price of US$4.32. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €1.17 compared to earnings per share of €0.14 last year.Major Estimate Revision • Apr 03Consensus revenue estimates increase by 35%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €60.3m to €81.3m. EPS estimate fell from -€1.11 to -€1.17 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$16.10 unchanged from last update. Share price fell 18% to US$3.84 over the past week.Seeking Alpha • Mar 28Immatics N.V.: Trading Below Cash, But Not Without ReasonSummary Immatics' lead asset, IMA203, shows promising early data with a 57% ORR in heavily pretreated patients, but toxicity concerns remain. Financially, IMTX has a $540mn market cap and $628mn cash, but negative enterprise value due to early-stage data and long catalyst desert. Phase 3 trial for IMA203 will produce interim data in early 2026, with no clear topline data timeline, creating uncertainty. Despite early signs of activity, I recommend waiting for phase 3 data before considering an investment due to the small market size and emerging competition. Read the full article on Seeking AlphaReported Earnings • Mar 27Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €0.14 (up from €1.20 loss in FY 2023). Revenue: €155.8m (up 189% from FY 2023). Net income: €15.2m (up €112.2m from FY 2023). Profit margin: 9.8% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 39%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 16% per year.New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€166m net loss in 3 years).分析記事 • Jan 12Revenues Working Against Immatics N.V.'s (NASDAQ:IMTX) Share PriceWith a price-to-sales (or "P/S") ratio of 6.5x Immatics N.V. ( NASDAQ:IMTX ) may be sending bullish signals at the...Price Target Changed • Jan 07Price target decreased by 8.8% to US$16.42Down from US$18.00, the current price target is an average from 6 analysts. New target price is 133% above last closing price of US$7.04. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.62 next year compared to a net loss per share of €1.20 last year.お知らせ • Oct 12Immatics N.V. has completed a Follow-on Equity Offering in the amount of $150.3125 million.Immatics N.V. has completed a Follow-on Equity Offering in the amount of $150.3125 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 16,250,000 Price\Range: $9.25 Discount Per Security: $0.555お知らせ • Oct 10+ 2 more updatesImmatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: At the Market Offering分析記事 • Sep 21Immatics N.V.'s (NASDAQ:IMTX) Price Is Out Of Tune With RevenuesImmatics N.V.'s ( NASDAQ:IMTX ) price-to-sales (or "P/S") ratio of 15.7x might make it look like a sell right now...Reported Earnings • Aug 14Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: €0.17 loss per share (improved from €0.32 loss in 2Q 2023). Revenue: €18.8m (down 16% from 2Q 2023). Net loss: €18.0m (loss narrowed 27% from 2Q 2023). Revenue exceeded analyst estimates by 41%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Price Target Changed • Aug 01Price target decreased by 7.9% to US$17.50Down from US$19.00, the current price target is an average from 4 analysts. New target price is 48% above last closing price of US$11.81. Stock is down 6.4% over the past year. The company is forecast to post a net loss per share of €1.13 next year compared to a net loss per share of €1.20 last year.お知らせ • Jul 31Immatics N.V. Appoints Alise Reicin to Board of DirectorsImmatics N.V. announced the appointment of Alise Reicin, M.D., to its Board of Directors. Alise Reicin is an experienced and expert pharmaceutical industry executive and leader who has led the development of multiple important new therapies, including Keytruda®. Dr. Reicin currently serves as the President and CEO of Tectonic Therapeutic and is also a member of the Board of Directors of Sana Biotechnology. She joins Immatics’ Board of Directors as the Company advances its pipeline of novel TCR-based cell therapy and bispecific product candidates into the next phase of development. Dr. Reicin brings extensive experience in early- and late-stage clinical development and a legacy of approved drugs in diverse therapeutic areas. Most recently, Dr. Reicin joined Tectonic Therapeutic, a company transforming the discovery of novel GPCR-targeted therapies, and, under her leadership, the company completed an $80 million Series A financing, moved its first asset into the clinic and entered the Nasdaq Global Market under the ticker symbol “TECX.” Before joining Tectonic Therapeutic, Dr. Reicin held leadership positions at several international pharmaceutical companies, including Celgene as President, Global Clinical Development, and EMD Serono as Senior Vice President, Global Head of Clinical Development. Dr. Reicin also held the position of Vice President, Project and Pipeline Leadership, Oncology Franchise, Merck Research Laboratories at Merck & Co. During her tenure, she led the initial development and filing activities that resulted in the first approvals of Keytruda® in the United States and European Union. Prior to Merck & Co., she was a full-time faculty member at Columbia Medical School as well as a physician and researcher at Columbia Presbyterian Hospital. Dr. Reicin received her M.D. from Harvard Medical School and her B.A. in Biochemistry from Barnard College of Columbia University. Dr. Reicin’s appointment to the Board of Directors continues through the Company’s Annual General Meeting in 2025.分析記事 • Jul 12Immatics (NASDAQ:IMTX) Is In A Good Position To Deliver On Growth PlansEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...New Risk • May 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€26m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€26m free cash flow). Earnings are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€157m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).Reported Earnings • May 17First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: €0.03 loss per share (improved from €0.26 loss in 1Q 2023). Revenue: €30.3m (up 209% from 1Q 2023). Net loss: €3.05m (loss narrowed 85% from 1Q 2023). Revenue exceeded analyst estimates by 49%. Earnings per share (EPS) also surpassed analyst estimates by 88%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Major Estimate Revision • May 16Consensus estimates of losses per share improve by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €59.0m to €62.5m. EPS estimate increased from -€1.35 per share to -€1.21 per share. Biotechs industry in the US expected to see average net income decline 9.5% next year. Consensus price target up from US$19.00 to US$19.40. Share price was steady at US$10.81 over the past week.New Risk • May 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€165m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).分析記事 • May 03Pinning Down Immatics N.V.'s (NASDAQ:IMTX) P/S Is Difficult Right NowYou may think that with a price-to-sales (or "P/S") ratio of 19.4x Immatics N.V. ( NASDAQ:IMTX ) is a stock to...New Risk • Mar 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€171m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).Reported Earnings • Mar 21Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: €1.20 loss per share (down from €0.56 profit in FY 2022). Revenue: €54.0m (down 69% from FY 2022). Net loss: €97.0m (down 359% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.お知らせ • Jan 30Immatics N.V., Annual General Meeting, Jun 19, 2024Immatics N.V., Annual General Meeting, Jun 19, 2024.お知らせ • Jan 19Immatics N.V. has completed a Follow-on Equity Offering in the amount of $175.175 million.Immatics N.V. has completed a Follow-on Equity Offering in the amount of $175.175 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 15,925,000 Price\Range: $11 Discount Per Security: $0.66お知らせ • Jan 18Immatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common StockNew Risk • Nov 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 7.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€117m free cash flow). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€141m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).New Risk • Nov 16New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€117m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€117m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€98m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).Price Target Changed • Nov 15Price target increased by 8.2% to US$19.83Up from US$18.33, the current price target is an average from 6 analysts. New target price is 104% above last closing price of US$9.70. Stock is down 8.6% over the past year. The company is forecast to post a net loss per share of €1.24 compared to earnings per share of €0.56 last year.お知らせ • Nov 09Immatics N.V. Reports Interim Clinical Data from ACTengine IMA203 and IMA203CD8 TCR-T Monotherapies Targeting PRame in an Ongoing Phase 1 TrialImmatics N.V. announced interim data from the ongoing Phase 1 trial with ACTengine®? IMA203 in patients with recurrent and/or refractory solid cancers. The update is focused on IMA203 GEN1 in melanoma at the recently defined recommended Phase 2 dose (RP2D) and the first clinical data for IMA203CD8 GEN2. Treatment with IMA203 GEN1 monotherapy in Phase 1a and Phase 1b Cohort A at RP2D demonstrated durable objective responses in melanoma patients with one patient exceeding 12 months and two patients exceeding 15 months post infusion and a 50% (6/12) confirmed objective response rate (cORR). In line with previous results, IMA203 GEN1 monotherapy was well tolerated at total doses up to 10x109 TCR-T cells infused. In addition, the first data on the company’s second-generation product candidate IMA203CD8 demonstrated 56% (5/9) cORR with enhanced pharmacology and a differentiated response pattern compared to IMA203 GEN1. The company plans to develop IMA203 GEN1 in melanoma and to pursue development of IMA203 in ovarian cancer, uterine cancer, NSCLC, triple-negative breast cancer and other tumor types preferentially with IMA203CD8 GEN2. The melanoma-focused data on IMA203 GEN1 will be presented by Martin Wermke, MD, Professor at the University Hospital Dresden and Coordinating Investigator of the ACTengine® IMA203 TCR-T trial, at the 20th International Congress of the Society for Melanoma Research in Philadelphia, PA, taking place November 6th-9th, 2023. IMA203 GEN1 in melanoma patients treated at RP2D: IMA203 GEN1 demonstrates a high rate of objective responses with ongoing durability of more than 15 months after treatment: At data cut-off on September 30, 2023, a total of 16 PRAME-positive patients with cutaneous, uveal or melanoma of unknown primary origin were infused with IMA203 GEN1 at the recommended Phase 2 dose (RP2D, 1-10x109 total TCR-T cells) across Phase 1a or Phase 1b Cohort A. IMA203 GEN1 monotherapy continues to be well tolerated. All 16 patients experienced cytopenia (Grade 1-4) associated with lymphodepletion as expected. Patients had mostly mild-moderate cytokine release syndrome (CRS), of which 10 patients (63%) had Grade 1, and 5 patients (31%) Grade 2 and 1 patient (6%) Grade 3 CRS. One non-serious, mild (Grade 1) immune effector cell associated neurotoxicity syndrome (ICANS) was observed. No dose-dependent increase of CRS, no dose-limiting toxicities (DLTs) and no IMA203-related death was observed. The safety profile for non-melanoma patients treated with IMA203 GEN1 was generally consistent with safety in the melanoma subset and is provided in the appendix of the presentation. 13 out of 16 infused patients were evaluable for efficacy analysis based on at least one tumor response assessment being available post treatment. These patients received a median total infused dose of 1.73x109 IMA203 TCR-T cells (range 1.07-5.12x109 TCR-T cells). Most patients were heavily pre-treated with a median of 4 lines of systemic therapies, thereof a median of 2 lines of checkpoint inhibitors; all 8 cutaneous melanoma patients were checkpoint inhibitor-refractory and 5 of 8 were BRAF inhibitor-pretreated. 50% (6/12) confirmed objective response rate (cORR) and 62% (8/13) initial ORR (RECIST 1.1). Durability of responses ongoing beyond 12 months in one patient and 15 months in two patients after treatment. Median duration of response (mDOR) was not reached (min 2.2+ months, max 14.7+ months) at a median follow-up (mFU) of 14.4 months. RP2D has been defined at 1-10x109 total TCR-T cells. Cell product manufacturing: 7-day manufacturing process plus 7-day release testing. Manufacturing success rate: >95% to reach RP2D. Immatics has recently received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA for IMA203 GEN1 in multiple PRAME-expressing cancers, including cutaneous and uveal melanoma, and is now targeting a registration-enabling Phase 2 trial in cutaneous melanoma potentially bundled with uveal melanoma in 2024. Discussions with FDA to align on patient populations, trial design and CMC aspects concerning the planned Phase 2 trial are ongoing. IMA203CD8 GEN2 in Cohort C: First clinical data set on IMA203CD8 shows an enhanced pharmacology profile with a differentiated response pattern compared to IMA203 GEN1 At data cut-off on September 30, 2023, a total of 12 PRAME-positive patients were infused with IMA203CD8 GEN2 across DL3 (0.2-0.48x109 TCR-T cells/m2 BSA), DL4a (0.481-0.8x109 TCR-T cells/m2 BSA) and DL4b (0.801-1.2x109 TCR-T cells/m2) in Cohort C with a median total infused dose of 1.17x109 IMA203CD8 TCR-T cells (range 0.64-2.05x109 TCR-T cells). All patients were heavily pre-treated with a median of 3 lines of systemic therapies. All patients experienced cytopenia (Grade 1-4) associated with lymphodepletion as expected. 11 out of 12 patients (92%) experienced a cytokine release syndrome (CRS), of which 8 patients (67%) had Grade 1 or 2 CRS, 2 patients (17%) had Grade 3 CRS and 1 patient (8%) had a Grade 4 CRS. The latter patient also had a reported Grade 4 neurotoxicity. No ICANS or neurotoxicity was reported for the other patients. No IMA203CD8-related deaths were observed. Dose-limiting toxicities (DLTs) were reported for 2 of 4 patients treated at DL4b. No DLT was reported for all 4 patients treated at DL3, or all 4 patients treated at DL4a. DL4a dose cohort is ongoing. Initial clinical activity was observed with a cORR of 56% (5/9) and initial ORR of 58% (7/12) (RECIST 1.1). 6 of 7 responses (including two unconfirmed responses with no subsequent scan available at data cut-off) were ongoing at data cut-off with longest response at >12 months after infusion. mDOR was not reached (min 2.0+ months, max 11.5+ months) at a mFU of 4.8 months. Reduction of tumor size was observed in 11 out of 12 patients, with a deepening of response from initially stable disease (SD) to partial response (PR) observed in two patients. Translational data showed enhanced pharmacology of IMA203CD8 GEN2: trend towards responses at lower T cell dose and higher tumor burden compared to IMA203 GEN1; IMA203CD8 GEN2 achieved higher peak expansion (Cmax) when normalized to infused dose and T cells showed higher initial activation levels without exhaustion over time.New Risk • Nov 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 13% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€111m net loss in 2 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).New Risk • Nov 03New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€135m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).お知らせ • Oct 25Immatics N.V. Receives FDA Regenerative Medicine Advanced Therapy (RMAT) Designation for ACTengine(R) IMA203 TCR-T MonotherapyImmatics N.V. announced that its IMA203 TCR-T program has received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA Center for Biologics Evaluation and Research (CBER) in multiple relapsed and/or refractory HLA-A*02:01-positive and PRAME-expressing cancers, including cutaneous melanoma, uveal melanoma, endometrial carcinoma, synovial sarcoma, and ovarian cancer. IMA203 is a TCR-T cell therapy targeting PRAME, a protein frequently expressed in a large variety of solid tumors. Established under the 21st Century Cures Act, RMAT designation is a dedicated program designed to expedite the development and review processes for promising pipeline products, including cell therapies, that includes all the benefits of Fast Track and Breakthrough designation programs. An investigational cell therapy is eligible for RMAT designation if it meets the definition of regenerative medicine therapy, it is intended to treat, modify, reverse, or cure a serious or life-threatening disease; and preliminary clinical evidence indicates that the therapy has the potential to address unmet medical needs for that disease. Advantages of the RMAT designation include early interactions with the FDA that may be used to discuss potential surrogate or intermediate endpoints for accelerated approval and potential ways to satisfy post-approval requirements, potential priority review of the biologics license application (BLA) and other opportunities to expedite development and review. Based on publicly available information1, it is the Company’s understanding that this is the first time that FDA has granted a RMAT designation for an oncology drug candidate for more than two solid tumor indications. As of Sep 30, 2023, the U.S. FDA has received at least 238 requests for RMAT designations and granted 92.分析記事 • Sep 26We're Hopeful That Immatics (NASDAQ:IMTX) Will Use Its Cash WiselyEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...お知らせ • Aug 11Immatics N.V. Initiates Phase 1/2 Clinical Trial to Evaluate Promame TCR Bispecific IMA402 in Patients with Advanced Solid TumorsImmatics N.V. announced the initiation of a Phase 1/2 clinical trial with its proprietary Bispecific T cell engaging receptor (TCER®) IMA402. IMA402 is the second product candidate in Immatics’ TCER® pipeline of next-generation, half-life extended bispecific molecules to enter clinical development. It targets an HLA-A02:01-presented peptide derived from PRAME, a clinically established cancer target frequently expressed in a large variety of solid tumors. The Phase 1/2 clinical trial (NCT05958121) investigates TCER® IMA402 in HLA-A02:01-positive patients with PRAME-expressing recurrent and/or refractory solid tumors. The dose escalation part of the study is designed as a basket trial in focus indications to accelerate signal finding. Initial focus indications are cutaneous and uveal melanoma, ovarian cancer, lung cancer, uterine cancer and synovial sarcoma, among others. Primary objectives of the IMA402 Phase 1/2 trial are to determine the maximum tolerated dose (MTD) and/or the recommended doses for trial extensions, as well as to characterize safety and tolerability of IMA402. Secondary objectives are to evaluate anti-tumor activity and assess pharmacokinetics of IMA402. The Phase 1a dose escalation will be followed by a Phase 1b dose expansion, with the plan then to initiate a Phase 2 with indication-specific cohorts and/or combination therapies. Immatics has implemented an adaptive design for the dose escalation with the goal to accelerate the clinical development timeline of IMA402. Pharmacokinetics data will be assessed throughout the trial and might provide an early opportunity for adjustment of the treatment interval based on the half-life extended TCER® format. The trial is initially planned to be conducted at approximately 15 sites in Europe, with extension into the US at dose expansion stage. The Phase 1a is designed to enroll approximately 45 patients. The trial initiation is based on the comprehensive preclinical studies with IMA402 presented at the European Society for Medical Oncology (ESMO) Congress 2022. TCER® IMA402 is the second Immatics clinical program targeting PRAME, with the first being ACTengine® IMA203, a TCR-T cell therapy that is currently in Phase 1b dose expansion – see recent data release. Both approaches, ACTengine® and TCER®, are distinct therapeutic modalities that the company believe have the potential to provide innovative treatment options for a variety of cancer patient populations with different medical needs.分析記事 • Jun 12We're Hopeful That Immatics (NASDAQ:IMTX) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...お知らせ • May 27Immatics N.V., Annual General Meeting, Jun 20, 2023Immatics N.V., Annual General Meeting, Jun 20, 2023, at 14:00 Central European Standard Time. Location: At the offices of NautaDutilh N.V., Beethovenstraat 400, 1082 PR Amsterdam Amsterdam Netherlands Agenda: To consider discussion of the statutory board report regarding the financial year ended 31 December 2022; to consider discussion of the Company’s dividend and reservation policy; to consider adoption of the statutory annual accounts for the financial year ended 31 December 2022; to consider discharge from liability for the members of the Company’s board of directors (the 'Board') with respect to the performance of their duties during the financial year ended 31 December 2022; to consider reappointment of Dr. H. Singh Jasuja as executive director class III; to consider appointment of Dr. M.P. Hothum as non-executive director class III; to consider extension of the authorisation of the Board to acquire ordinary shares or depositary receipts thereof; and to consider other matters.Reported Earnings • May 16First quarter 2023 earnings released: €0.26 loss per share (vs €1.36 profit in 1Q 2022)First quarter 2023 results: €0.26 loss per share (down from €1.36 profit in 1Q 2022). Revenue: €9.80m (down 91% from 1Q 2022). Net loss: €19.7m (down 123% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • May 04Investor sentiment improves as stock rises 42%After last week's 42% share price gain to US$9.68, the stock trades at a trailing P/E ratio of 18x. Average forward P/E is 11x in the Biotechs industry in the US. Total loss to shareholders of 9.9% over the past three years.Valuation Update With 7 Day Price Move • Apr 19Investor sentiment improves as stock rises 22%After last week's 22% share price gain to US$7.20, the stock trades at a trailing P/E ratio of 13.4x. Average forward P/E is 12x in the Biotechs industry in the US. Total loss to shareholders of 32% over the past three years.Major Estimate Revision • Mar 29Consensus revenue estimates increase by 11%, EPS downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €45.0m to €50.1m. EPS estimate fell from -€1.36 to -€1.42 per share. Biotechs industry in the US expected to see average net income decline 49% next year. Consensus price target down from US$20.00 to US$18.25. Share price rose 3.7% to US$7.59 over the past week.Price Target Changed • Mar 26Price target decreased by 8.8% to US$18.25Down from US$20.00, the current price target is an average from 6 analysts. New target price is 171% above last closing price of US$6.74. Stock is down 9.9% over the past year. The company is forecast to post a net loss per share of €1.42 compared to earnings per share of €0.56 last year.Reported Earnings • Mar 22Full year 2022 earnings released: EPS: €0.56 (vs €1.48 loss in FY 2021)Full year 2022 results: EPS: €0.56 (up from €1.48 loss in FY 2021). Revenue: €172.8m (up 397% from FY 2021). Net income: €37.5m (up €130.8m from FY 2021). Profit margin: 22% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is expected to decline by 95% p.a. on average during the next 2 years, while revenues in the Biotechs industry in the US are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Dec 15Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to US$9.31, the stock trades at a trailing P/E ratio of 19.6x. Average forward P/E is 9x in the Biotechs industry in the US. Total loss to shareholders of 10% over the past three years.Major Estimate Revision • Nov 24Consensus EPS estimates increase by 76%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €151.6m to €156.4m. EPS estimate increased from €0.37 to €0.64 per share. Net income forecast to shrink 310% next year vs 93% decline forecast for Biotechs industry in the US. Consensus price target of US$20.00 unchanged from last update. Share price fell 3.6% to US$9.94 over the past week.Reported Earnings • Nov 19Third quarter 2022 earnings: EPS and revenues exceed analyst expectationsThird quarter 2022 results: €0.32 loss per share (improved from €0.43 loss in 3Q 2021). Revenue: €15.1m (up 134% from 3Q 2021). Net loss: €20.9m (loss narrowed 23% from 3Q 2021). Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Seeking Alpha • Oct 10Immatics launches $110M stock offeringImmatics (NASDAQ:IMTX) is selling 10,905,000 of its ordinary shares at a price of $10.09/share in an underwritten public offering. Gross proceeds from the offering are expected to be ~$110M. The offering is expected to close on Oct 12, 2022.Valuation Update With 7 Day Price Move • Sep 13Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$10.80, the stock trades at a trailing P/E ratio of 25.6x. Average forward P/E is 9x in the Biotechs industry in the US. Total returns to shareholders of 5.8% over the past three years.Reported Earnings • Aug 10Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: €0.21 loss per share (up from €0.42 loss in 2Q 2021). Revenue: €17.2m (up 232% from 2Q 2021). Net loss: €14.0m (loss narrowed 47% from 2Q 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates by 200%. Over the next year, revenue is expected to shrink by 33% compared to a 51% growth forecast for the industry in the US.Valuation Update With 7 Day Price Move • Jul 21Investor sentiment improved over the past weekAfter last week's 20% share price gain to US$10.28, the stock trades at a trailing P/E ratio of 41.9x. Average forward P/E is 10x in the Biotechs industry in the US. Total returns to shareholders of 2.9% over the past three years.Seeking Alpha • Jul 19Cancer immunotherapy biotech Immatics up 18% on 4x normal volumeCancer immunotherapy developer Immatics (NASDAQ:IMTX) is up 17% in Tuesday afternoon trading on volume that is (IMTX) four times higher than the normal daily average. Average volume for the stock is 146,757. As of 230p ET, ~586K shares had traded hands. There is no news from Immatics (IMTX) or other catalyst that might explain the upswing. The company is focused on T-cell receptor T (TCR-T) cell therapies. Its most advanced candidate is in phase 1b, according to a recent corporate presentation. Immatics (IMTX) also has partnerships with Bristol-Myers Squibb (BMY), GlaxoSmithKline (GSK), and Genmab (GMAB) Seeking Alpha's Quant Rating views Immatics (IMTX) as a buy with high grades for profitability and revisions.Price Target Changed • Jul 14Price target decreased to US$20.00Down from US$22.80, the current price target is an average from 5 analysts. New target price is 134% above last closing price of US$8.54. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.40 next year compared to a net loss per share of €1.48 last year.Reported Earnings • Jun 03First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: €1.36 (up from €0.36 loss in 1Q 2021). Revenue: €102.9m (up €95.5m from 1Q 2021). Net income: €85.7m (up €108.5m from 1Q 2021). Profit margin: 83% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 1.6%, compared to a 42% growth forecast for the industry in the US.Price Target Changed • May 05Price target decreased to US$22.80Down from US$24.80, the current price target is an average from 5 analysts. New target price is 195% above last closing price of US$7.72. Stock is down 33% over the past year. The company is forecast to post earnings per share of €0.50 next year compared to a net loss per share of €1.48 last year.Breakeven Date Change • Apr 27Forecast to breakeven in 2022The 5 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.Breakeven Date Change • Apr 01Forecast to breakeven in 2022The 5 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.Breakeven Date Change • Mar 28Forecast to breakeven in 2022The 4 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.Major Estimate Revision • Feb 27Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €55.9m to €29.5m. EPS estimate unchanged from -€1.48 per share at last update. Biotechs industry in the US expected to see average net income decline 14% next year. Consensus price target of US$23.00 unchanged from last update. Share price fell 5.3% to US$8.17 over the past week.分析記事 • Jan 29Here's Why We're Watching Immatics' (NASDAQ:IMTX) Cash Burn SituationJust because a business does not make any money, does not mean that the stock will go down. For example, although...分析記事 • Dec 16Analysts' Revenue Estimates For Immatics N.V. (NASDAQ:IMTX) Are Surging HigherImmatics N.V. ( NASDAQ:IMTX ) shareholders will have a reason to smile today, with the analysts making substantial...Major Estimate Revision • Dec 16Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €30.7m to €55.9m. EPS estimate reaffirmed at -€1.48 per share. Biotechs industry in the US expected to see average net income decline 11% next year. Consensus price target up from US$24.00 to US$24.80. Share price rose 7.2% to US$12.43 over the past week.Reported Earnings • Nov 19Third quarter 2021 earnings released: €0.43 loss per share (vs €2.61 loss in 3Q 2020)The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: €6.44m (down 18% from 3Q 2020). Net loss: €27.2m (loss narrowed 83% from 3Q 2020).Reported Earnings • Aug 12Second quarter 2021 earnings released: €0.38 loss per share (vs €18.08 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: €5.19m (down 25% from 2Q 2020). Net loss: €23.8m (loss widened 13% from 2Q 2020).Executive Departure • Jun 24Supervisory Director Christof Hettich has left the companyOn the 17th of June, Christof Hettich's tenure as Supervisory Director ended. We don't have any record of a personal shareholding under Christof's name. Christof is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model.Executive Departure • Jun 23Supervisory Director Christof Hettich has left the companyOn the 17th of June, Christof Hettich's tenure as Supervisory Director ended. We don't have any record of a personal shareholding under Christof's name. Christof is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model.Major Estimate Revision • May 25Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €32.5m to €34.3m. Forecast EPS reduced from -€1.27 to -€1.40 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target of US$23.75 unchanged from last update. Share price was steady at US$11.22 over the past week.Reported Earnings • May 19First quarter 2021 earnings released: €0.34 loss per share (vs €7.14 loss in 1Q 2020)The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: €7.40m (up 5.2% from 1Q 2020). Net loss: €21.6m (loss widened 160% from 1Q 2020).お知らせ • May 12Immatics Presents Preclinical Proof-Of-Concept Data for TCR Bispecifics Program IMA402 Targeting PRAMEImmatics N.V. announced data from its second T cell receptor Bispecifics program, IMA402, supporting preclinical proof-of-concept for the program and further validating this proprietary therapeutic modality. IMA402 is directed against the cancer target PRAME, a protein that is frequently expressed in many solid cancers, thereby supporting the program’s potential to address a broad cancer patient population. IMA402 is the second program originating from Immatics’ TCR Bispecifics pipeline, called T Cell Engaging Receptor. The lead candidate showed anti-tumor activity against PRAME-positive cancer cells leading to consistent reduction of the engrafted tumors, including complete responses in an in vivo mouse model. The preclinical data will be presented at the virtual 17th Annual PEGS Boston Protein Engineering and Cell Therapy Summit, on May 11-13, 2021. Preclinical data highlights: The IMA402 TCER candidate targets an HLA-A*02-bound peptide derived from preferentially expressed antigen in melanoma. The target peptide was selected and validated based on quantitative mass spectrometry data from Immatics’ proprietary XPRESIDENT platform and is prevalent in many solid tumor indications including lung, ovarian and breast cancer as well as other solid cancer types. Over 50 different human wild-type TCRs recognizing the PRAME target peptide were systematically evaluated using Immatics’ XCEPTOR platform. Two TCRs with high avidity and specificity were selected and affinity-enhanced by at least 1,000-fold while retaining specificity through the XPRESIDENT-guided screening for off-target toxicity and cross-reactivity. Different engineered TCR variants were then incorporated into the bispecific TCER scaffold and the best candidate was selected. The IMA402 TCER candidate induces killing of tumor cells in vitro with PRAME target peptide levels similar to levels found in cancer patients. Administration of IMA402 TCER candidate leads to consistent tumor regression including complete responses in an in vivo mouse model. The IMA402 TCER® candidate demonstrates selective PRAME recognition leading to an at least 1,000-fold therapeutic window between tumor and normal cell reactivity in vitro. Preclinical data support antibody-like profiles for manufacturability and pharmacokinetics of the IMA402 TCER candidate. For the IMA402 TCER program, Immatics has initiated GMP process development activities to advance this program towards the Investigational New Drug stage and clinical development. The company’s first TCER program, IMA401 remains on track for submission of a clinical trial application by year end 2021. The company had previously announced preclinical proof-of-concept data for IMA401 in last quarter of 2020.Reported Earnings • Apr 02Full year 2020 earnings released: €4.77 loss per share (vs €0.95 loss in FY 2019)The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €31.3m (up 69% from FY 2019). Net loss: €229.1m (loss widened €197.5m from FY 2019). Products in clinical trials Phase I: 3分析記事 • Apr 01Immatics N.V. (NASDAQ:IMTX) Analysts Are Pretty Bullish On The Stock After Recent ResultsThere's been a notable change in appetite for Immatics N.V. ( NASDAQ:IMTX ) shares in the week since its full-year...業績と収益の成長予測NasdaqCM:IMTX - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202899-232-219-207512/31/202743-244-227-237912/31/202641-244-177-20693/31/202637-214-189-184N/A12/31/202548-196-183-177N/A9/30/202585-120-184-176N/A6/30/2025130-75-175-165N/A3/31/2025144-22-170-160N/A12/31/202415615-175-158N/A9/30/2024116-49-45-20N/A6/30/202471-74-45-17N/A3/31/202474-77-269N/A12/31/202354-95-1318N/A9/30/202376-84-117-92N/A6/30/202385-79-113-94N/A3/31/202380-68-40-31N/A12/31/20221732894100N/A9/30/20221513497102N/A6/30/202214228113119N/A3/31/2022130153844N/A12/31/202135-93-90-85N/A9/30/202128-95-86-81N/A6/30/202130-231-133-127N/A3/31/202132-226-97-91N/A12/31/202031-211-88-81N/A9/30/202026-208-38-31N/A6/30/202023-497581N/A3/31/202022-345560N/A12/31/201918-32N/A71N/A12/31/20184-31N/A21N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: IMTX今後 3 年間、利益が出ない状態が続くと予測されています。収益対市場: IMTX今後 3 年間、利益が出ない状態が続くと予測されています。高成長収益: IMTX今後 3 年間、利益が出ない状態が続くと予測されています。収益対市場: IMTXの収益 ( 47.3% ) US市場 ( 12.7% ) よりも速いペースで成長すると予測されています。高い収益成長: IMTXの収益 ( 47.3% ) 20%よりも速いペースで成長すると予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: IMTXの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YPharmaceuticals-biotech 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/30 02:26終値2026/06/30 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Immatics N.V. 9 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。14 アナリスト機関Alec StranahanBofA Global ResearchEric SchmidtCantor Fitzgerald & Co.Yevgeniya LivshitsChardan Capital Markets, LLC11 その他のアナリストを表示
分析記事 • May 15Immatics N.V. (NASDAQ:IMTX) Just Released Its First-Quarter Results And Analysts Are Updating Their EstimatesIt's shaping up to be a tough period for Immatics N.V. ( NASDAQ:IMTX ), which a week ago released some disappointing...
Price Target Changed • Nov 13Price target increased by 11% to US$16.29Up from US$14.71, the current price target is an average from 7 analysts. New target price is 63% above last closing price of US$9.98. Stock is up 17% over the past year. The company is forecast to post a net loss per share of €1.58 compared to earnings per share of €0.14 last year.
Major Estimate Revision • Aug 20Consensus revenue estimates fall by 18%The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €58.8m to €48.1m. Forecast losses increased from -€1.17 to -€1.57 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target down from US$14.33 to US$13.67. Share price fell 8.2% to US$5.60 over the past week.
Price Target Changed • Apr 22Price target decreased by 8.7% to US$15.30Down from US$16.75, the current price target is an average from 5 analysts. New target price is 254% above last closing price of US$4.32. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €1.17 compared to earnings per share of €0.14 last year.
Major Estimate Revision • Apr 03Consensus revenue estimates increase by 35%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €60.3m to €81.3m. EPS estimate fell from -€1.11 to -€1.17 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$16.10 unchanged from last update. Share price fell 18% to US$3.84 over the past week.
Price Target Changed • Jan 07Price target decreased by 8.8% to US$16.42Down from US$18.00, the current price target is an average from 6 analysts. New target price is 133% above last closing price of US$7.04. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.62 next year compared to a net loss per share of €1.20 last year.
分析記事 • Jun 18Immatics (IMTX) Stock Looks Expensive After PRAME Platform Update And Cash Runway To 2028Fresh commentary on Immatics (NasdaqCM:IMTX) highlights its evolution into a broader PRAME-focused oncology platform with multiple monetization paths, alongside reassurance that existing cash resources are expected to support operations into 2028. See our latest analysis for Immatics. Immatics shares recently traded at US$9.52, with a 1-day share price return of 4.73% and 7-day share price return of 7.33%. Over longer periods, the 30-day share price return is down 10.36% and the year-to-date...
お知らせ • Jun 05Immatics N.V., Annual General Meeting, Jun 18, 2026Immatics N.V., Annual General Meeting, Jun 18, 2026. Location: offices of nautadutilh n.v., beethovenstraat 400, 1082 pr amsterdam, Netherlands
お知らせ • Jun 02+ 2 more updatesImmatics Presents Clinical Activity and Response Dynamics of Anzu-Cel Prame Cell Therapy At 2026 Asco Annual MeetingImmatics N.V. announced extended data from the ongoing Phase 1b clinical trial evaluating anzu-cel (anzutresgene autoleucel, IMA203) PRAME TCR T-cell therapy in heavily pretreated patients with advanced melanoma in an oral presentation at the Annual Meeting of the American Society for Clinical Oncology (ASCO) in Chicago, USA. The dataset is focused on patients treated with anzu-cel at the recommended Phase 2 dose (RP2D), including longer follow-up and further characterization of the durability and systemic nature of the observed clinical responses. One-time infusion of anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy induced rapid, deep and durable systemic anti-tumor activity in metastatic PD-1 relapsed cutaneous melanoma and metastatic uveal melanoma. Anzu-cel showed a 56% confirmed ORR, 14.6 months mDOR, 6.1 months mPFS and 16.2 months mOS at longer follow-up alongside a predictable and manageable tolerability profile in metastatic melanoma. Exploratory response analysis suggests continued control of baseline disease and anti-tumor activity across multiple metastatic disease sites with many lesions remaining controlled, some even after progression. Findings reinforce the continued effectiveness of anzu-cel to treat advanced melanoma; Phase 3 SUPRAME trial remains on track as it advances toward BLA submission in First Half 2027. As of September 24, 2025, 33 heavily pretreated patients with metastatic (stage IV) melanoma received a one-time infusion of anzu-cel at the recommended Phase 2 dose (RP2D, 1 - 10x10^9 TCR T cells) in the Phase 1b dose expansion. The treated patient population consisted of cutaneous melanoma (n=14), uveal melanoma (n=16), mucosal melanoma (n=2) and melanoma of unknown primary (n=1). All patients with cutaneous melanoma, mucosal melanoma and melanoma of unknown primary had metastatic stage IV disease including lesions in liver, brain and/or lung. All patients with uveal melanoma had metastatic stage IV disease with liver and/or extrahepatic metastases. Patients had a median of two prior lines of systemic treatment. The subgroup of patients with cutaneous melanoma (n=14) had a median of 2.5 lines of prior systemic treatments, including a median of two prior lines of immune checkpoint inhibitors. Of these, 64% (9/14) received a combination of ipilimumab and nivolumab and 29% (4/14) received a combination of nivolumab and relatlimab prior to anzu-cel infusion. Anzu-cel has maintained a manageable tolerability profile, which was consistent across patients with different melanoma subtypes. The most frequent treatment-emergent adverse events were anticipated cytopenias associated with lymphodepletion. Expected and manageable cytokine release syndrome (CRS) was mostly Grades 1 and 2, which is consistent with the mechanism of action. No patients experienced long-term CRS. Immune effector cell-associated neurotoxicity syndrome (ICANS) occurred infrequently, was manageable and mostly mild (Grades 1 and 2). Rapid, deep and durable anti-tumor activity of anzu-cel PRAME cell therapy, including durable responses up to greater than 3 years. cORR: 56% (18/32) for all melanoma, 50% (7/14) for cutaneous melanoma, 67% (10/15) for uveal melanoma. ORR: 64% (21/33) for all melanoma, 57% (8/14) for cutaneous melanoma, 69% (11/16) for uveal melanoma. DCR: 91% (30/33) for all melanoma, 93% (13/14) for cutaneous melanoma, 88% (14/16) for uveal melanoma. mDOR (range) /mFU [mo]: 14.6 (4.2, 38.2+) /18.7 for all melanoma, 17.9 (4.2, 38.2+) /18.7 for cutaneous melanoma, 11.0 (4.4, 31.6) /Not defined for uveal melanoma. mPFS (range) /mFU [mo]: 6.1 (1.4, 39.6+) /20.0 for all melanoma, 6.0 (1.4, 39.6+) /20.0 for cutaneous melanoma, 8.5 (1.4, 32.9) /10.4 for uveal melanoma. mOS (range) /mFU [mo]: 16.2 (2.4, 39.6+) /17.3 for all melanoma, 13.9 (2.4, 39.6+) /20.0 for cutaneous melanoma, Not reached (4.5, 34.2) /14.3 for uveal melanoma. The PFS rate was 55% at six months and 37% at 12 months. The overall survival rate was 70% at 12 months and 46% at 24 months. 42% (14/33) of patients experienced a deep response (greater than or equal to 50% tumor reduction). In these patients, mPFS was 15.9 months at 39.6 months mFU. Anzu-cel induced systemic anti-tumor activity across multiple metastatic sites, including difficult-to-treat metastases, such as liver, lung, lymph node, abdomen/peritoneum, skin and others. Even patients who had a best overall response of progressive disease (PD) according to RECIST 1.1 (n=3) experienced shrinkage of individual lesions. Progressive disease was frequently the result of new lesions, progression of non-target lesions, or selective outgrowths of individual lesions, while many target lesions remained controlled, indicating continued control of baseline disease. Responses occurred rapidly (median time to BOR: 1.4 months) and were durable across multiple metastatic sites, including target and non-target lesions. These findings support the continued development of anzu-cel in advanced melanoma. Immatics’ ongoing Phase 3 clinical trial, SUPRAME, is evaluating the efficacy, safety and tolerability of anzu-cel PRAME TCR T-cell therapy as a monotherapy vs. investigator's choice in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a PD-1 immune checkpoint inhibitor. In parallel, a Phase 2 cohort in metastatic uveal melanoma is ongoing and intended to support a potential label expansion for anzu-cel following expected initial approval in cutaneous melanoma. PRAME is a target expressed in more than 50 cancers. The Immatics PRAME franchise currently includes three product candidates, two therapeutic modalities and three combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8 PRAME cell therapy, IMA402 PRAME bispecific as monotherapy, in combination with immune checkpoint inhibitors, in combination with IMA401 MAGEA4/8 bispecific as well as anzu-cel in combination with Moderna’s PRAME mRNA designed to enhance cell therapy. Anzu-cel (anzutresgene autoleucel; IMA203) is a PRAME-directed TCR T-cell therapy engineered to recognize an intracellular PRAME-derived peptide presented by HLA-A*02:01 on the cell surface and initiate a potent and specific anti-tumor response. Anzu-cel PRAME cell therapy is currently being evaluated in a registration-enabling randomized controlled Phase 3 trial, “SUPRAME,” in patients with unresectable or metastatic cutaneous melanoma who have disease progression on or after treatment with at least one checkpoint inhibitor. In parallel, the Phase 1/2 clinical trial is ongoing with a focus on uveal melanoma.
ライブニュース • May 31Immatics Reports Promising Response Rates for IMA203CD8 PRAME Cell Therapy in Solid TumorsImmatics reported updated Phase 1 data for its IMA203CD8 PRAME TCR T-cell therapy, showing objective response rates of 63% in ovarian and uterine cancers and 67% in synovial sarcoma. The therapy, given as a one-time infusion, was described as having manageable tolerability in these hard-to-treat solid tumors. The company plans to determine a recommended Phase 2 dose in 2026 and broaden clinical testing into additional PRAME-positive solid tumors. This set of Phase 1 results indicates clinical momentum around Immatics’ PRAME-targeted cell therapy platform, with a defined path toward Phase 2 dosing decisions and trial expansion. Investors may want to follow the 2026 updates, as safety data, durability of responses, and the design and timing of Phase 2 studies will be important in evaluating how this program could affect Immatics’ long-term pipeline and funding requirements.
分析記事 • May 15Immatics N.V. (NASDAQ:IMTX) Just Released Its First-Quarter Results And Analysts Are Updating Their EstimatesIt's shaping up to be a tough period for Immatics N.V. ( NASDAQ:IMTX ), which a week ago released some disappointing...
Reported Earnings • May 13First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: €0.43 loss per share (further deteriorated from €0.33 loss in 1Q 2025). Revenue: €7.61m (down 59% from 1Q 2025). Net loss: €57.8m (loss widened 45% from 1Q 2025). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • Apr 18Immatics N.V. Highlights Prame-Directed Tcr T-Cell Therapy Inducing Remission In Pediatric Nephroblastoma PatientImmatics N.V. announced that an abstract highlighting a pediatric patient treated with a PRAME-directed cell therapy using Immatics’ PRAME T-cell receptor (TCR) has been accepted for a late-breaking poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2026 in San Diego, California, USA. The abstract highlights the case of a 17-year-old adolescent with PRAME-positive advanced nephroblastoma, a malignant kidney cancer that predominantly occurs in children. The patient had rapidly progressing disease with metastases to the lung, liver and brain with an abdominal lesion measuring 16 cm in longest diameter. After exhausting all available treatment options and being ineligible for any ongoing clinical trial, the treating physician requested Immatics’ PRAME-directed TCR (encoded by the IMA203CD8 lentiviral vector) for an individual experimental treatment attempt (named-patient use; “Individueller Heilversuch” in Germany) at KiTZ, where a TCR T-cell therapy was manufactured. Following treatment, the patient experienced a deep anti-tumor response, with remission observed three months post-infusion and ongoing at six months of follow-up. PET scan and MRI imaging demonstrated marked tumor regression across all lesion sites. Additionally, liquid biopsy monitoring showed no more tumor-derived DNA, indicating molecular remission. Safety events reported in the abstract by the treating physician included cytokine release syndrome, which was manageable and resolved under multi-modal anti-cytokine therapy and corticosteroids. At six months of follow-up, the patient is in excellent physical condition. PRAME is a tumor target present on the cell surface of more than 50 cancers and can be targeted by TCR T-cell therapies. Based on the high PRAME expression across multiple different pediatric tumors in combination with the potential benefit of particularly strong immune responses in young patients, PRAME TCR T-cell therapies may offer a promising new treatment option for these patients. Immatics is planning to evaluate the potential of its PRAME TCR T-cell therapy candidates in pediatric patients with cancer and is assessing multiple options for clinical development including a potential first-in-pediatrics Phase 1/2 basket study in pediatric patients with HLA-A02:01-positive, PRAME-expressing relapsed or refractory solid tumors at KiTZ in Heidelberg. Immatics is developing PRAME-directed TCR T-cell therapies engineered to recognize an intracellular PRAME-derived peptide presented by HLA-A02:01 on the surface of tumor cells and to initiate a potent and specific anti-tumor response. Immatics’ PRAME-directed cell therapies are being evaluated in clinical trials across multiple PRAME-positive solid tumors in adult patients. Its lead PRAME cell therapy candidate, anzu-cel (anzutresgene autoleucel, IMA203) is currently being evaluated in a registration-enabling Phase 3 trial “SUPRAME” in previously treated advanced cutaneous melanoma and a Phase 2 trial in metastatic uveal melanoma. In addition, Immatics is evaluating its second-generation PRAME cell therapy, IMA203CD8, in a Phase 1a dose escalation trial in patients with PRAME-positive solid tumors, with a focus on gynecologic cancers. PRAME is a target expressed in more than 50 cancers. The Immatics PRAME franchise currently includes three product candidates, two therapeutic modalities and two combination therapies that target PRAME: anzu-cel (anzutresgene autoleucel, IMA203) PRAME cell therapy, IMA203CD8 PRAME cell therapy (GEN2), IMA402 PRAME bispecific as monotherapy and in combination with an immune checkpoint inhibitor as well as anzu-cel in combination with Moderna’s PRAME mRNA designed to enhance cell therapy.
Reported Earnings • Mar 05Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: €1.61 loss per share (down from €0.14 profit in FY 2024). Revenue: €48.3m (down 69% from FY 2024). Net loss: €196.4m (down €211.7m from profit in FY 2024). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
お知らせ • Dec 05Immatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common Stock
分析記事 • Dec 05Revenues Not Telling The Story For Immatics N.V. (NASDAQ:IMTX) After Shares Rise 28%Immatics N.V. ( NASDAQ:IMTX ) shares have continued their recent momentum with a 28% gain in the last month alone. The...
Reported Earnings • Nov 19Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: €0.42 loss per share (further deteriorated from €0.083 loss in 3Q 2024). Revenue: €5.19m (down 90% from 3Q 2024). Net loss: €50.5m (loss widened 490% from 3Q 2024). Revenue missed analyst estimates by 52%. Earnings per share (EPS) also missed analyst estimates by 8.1%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
New Risk • Nov 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€149m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change).
Price Target Changed • Nov 13Price target increased by 11% to US$16.29Up from US$14.71, the current price target is an average from 7 analysts. New target price is 63% above last closing price of US$9.98. Stock is up 17% over the past year. The company is forecast to post a net loss per share of €1.58 compared to earnings per share of €0.14 last year.
お知らせ • Oct 27Immatics N.V. Appoints Amie Krause as Chief People Officer, Effective October 27, 2025Immatics N.V. announced the appointment of Amie Krause as Chief People Officer ("CPO") effective October 27, 2025. Ms. Krause brings more than 20 years of experience in shaping culture, leading organizational growth and aligning talent with business strategy, including across global biopharmaceutical companies. In this newly established role, she will lead Immatics' human resources, focusing on organizational development and operations as the company transitions to commercial stage. Amie Krause joins Immatics from Dompé, where she served as Chief Human Resources Officer. Prior to that, she was Chief People Officer at Revance Therapeutics. She previously served as Chief People Officer at Atara Biotherapeutics, a cell therapy company. Before Atara, Amie Krause spent over 10 years at Amgen, where she held multiple senior HR roles, including leading initiatives for global commercial operations for the Americas, Europe, Asia, Africa and the Middle East. In addition to her industry experience, Amie Krause serves as an Adjunct Professor at California Lutheran University's School of Management and a guest lecturer at the University of Southern California and the University of Alabama. Amie holds both a B.S. in business management and an MBA from California Lutheran University.
お知らせ • Oct 02Immatics Announces CFO ChangesImmatics N.V. 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 deep financial expertise in facilitating successful product launches, establishing scalable operations in global markets and enabling corporate transactions. He joins Immatics from Anthos Therapeutics, a Novartis company, where he served as CFO. He will succeed Immatics’ current CFO, Arnd Christ. Dr. Ramanan brings more than 25 years of experience and leadership in finance, strategy and operations across large and small biopharmaceutical companies, with a proven track record of leading companies through periods of successful transformation and growth. He joins Immatics from Anthos Therapeutics, a clinical-stage biotechnology company acquired by Novartis in April 2025, where he served as CFO. Previously, he was CFO at Turnstone Biologics, where he led the company’s transition from a private to public company through its IPO. Earlier, as Senior Vice President Finance at Seagen, he oversaw the finance department enabling multiple product launches, global expansion and strategic transactions. He also held senior finance and business leadership roles at Gilead Sciences and Amgen. He began his career in the biopharmaceutical industry as a consultant with ZS Associates. Dr. Ramanan holds a Ph.D. in Engineering Mechanics from The Ohio State University.
分析記事 • Sep 19Investors Don't See Light At End Of Immatics N.V.'s (NASDAQ:IMTX) TunnelWith a price-to-sales (or "P/S") ratio of 5.2x Immatics N.V. ( NASDAQ:IMTX ) may be sending bullish signals at the...
Major Estimate Revision • Aug 20Consensus revenue estimates fall by 18%The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €58.8m to €48.1m. Forecast losses increased from -€1.17 to -€1.57 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target down from US$14.33 to US$13.67. Share price fell 8.2% to US$5.60 over the past week.
Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: €0.58 loss per share (further deteriorated from €0.17 loss in 2Q 2024). Revenue: €4.74m (down 75% from 2Q 2024). Net loss: €70.3m (loss widened 290% from 2Q 2024). Revenue missed analyst estimates by 58%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.
分析記事 • Jun 22We Think Immatics (NASDAQ:IMTX) Can Afford To Drive Business GrowthJust because a business does not make any money, does not mean that the stock will go down. For example, although...
お知らせ • Jun 03Immatics N.V., Annual General Meeting, Jun 18, 2025Immatics N.V., Annual General Meeting, Jun 18, 2025. Location: offices of nautadutilh n.v., beethovenstraat 400, 1082 pr amsterdam, Netherlands
お知らせ • Jun 01Immatics IMA203 PRame Cell Therapy Data Presented at 2025 ASCO Annual Meeting Continues to Show Strong Anti-Tumor Activity and Durability in Patients with Metastatic MelanomaImmatics N.V. announced the presentation of expanded data from the ongoing Phase 1b clinical trial evaluating IMA203 PRAME cell therapy in heavily pretreated patients with metastatic melanoma. The longer follow-up of patients demonstrates a consistent and favorable tolerability profile as well as durable responses with a confirmed ORR of 56%. In addition, the Company provided details from a Trial in Progress poster on SUPRAME, the ongoing Phase 3 clinical trial evaluating IMA203 in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a checkpoint inhibitor. The data from the ongoing Phase 1ss trial will be presented on Saturday, May 31, 2025, during an oral presentation by Martin Wermke, M.D. These individuals are in urgent need of new treatments that deliver deeper and more durable responses.
分析記事 • May 17Lacklustre Performance Is Driving Immatics N.V.'s (NASDAQ:IMTX) Low P/SWith a price-to-sales (or "P/S") ratio of 3.6x Immatics N.V. ( NASDAQ:IMTX ) may be sending very bullish signals at the...
Reported Earnings • May 14First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: €0.33 loss per share (further deteriorated from €0.02 loss in 1Q 2024). Revenue: €18.6m (down 39% from 1Q 2024). Net loss: €39.9m (loss widened €37.6m from 1Q 2024). Revenue exceeded analyst estimates by 34%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • May 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$5.23, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 21x in the Biotechs industry in the US. Total loss to shareholders of 30% over the past three years.
お知らせ • Apr 23Immatics N.V. Announces Upcoming Oral and Poster Presentation on IMA203 TCR T-Cell Therapy At 2025 Asco Annual MeetingImmatics N.V. announced upcoming presentations on its lead cell therapy product candidate, IMA203 TCR T-cell therapy targeting PRAME, at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting to be held from May 30 - June 3, 2025, in Chicago, Illinois. Updated data from the Phase 1b trial of IMA203 in patients with metastatic melanoma with substantially longer follow-up compared to the last presentation in October 2024, and including data from additional uveal melanoma patients enrolled since then, will be highlighted in an oral presentation. In addition, a trial-in-progress poster on SUPRAME, the ongoing Phase 3 clinical trial evaluating IMA203 in patients with unresectable or metastatic cutaneous melanoma who have received prior treatment with a checkpoint inhibitor, will be presented at the conference. IMA203 is an autologous, engineered T-cell receptor T-cell therapy (TCR T) that targets PRAME, an intracellular protein displayed as a peptide antigen on the surface of multiple solid tumors via HLA-A*02:01, with minimal expression on healthy tissues. With precise targeting and a turnaround time of approximately 14 days, IMA203 has demonstrated a favorable clinical profile in patients with unmet medical needs. IMA203 TCR T-cell therapy is currently being evaluated in a registration-enabling randomized controlled Phase 3 trial, “SUPRAME,” in patients with unresectable or metastatic cutaneous melanoma who have disease progression on or after at least one PD-1 inhibitor. In parallel, the Phase 1b clinical trial in patients with solid tumors expressing PRAME is ongoing with a focus on uveal melanoma.
Price Target Changed • Apr 22Price target decreased by 8.7% to US$15.30Down from US$16.75, the current price target is an average from 5 analysts. New target price is 254% above last closing price of US$4.32. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €1.17 compared to earnings per share of €0.14 last year.
Major Estimate Revision • Apr 03Consensus revenue estimates increase by 35%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €60.3m to €81.3m. EPS estimate fell from -€1.11 to -€1.17 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$16.10 unchanged from last update. Share price fell 18% to US$3.84 over the past week.
Seeking Alpha • Mar 28Immatics N.V.: Trading Below Cash, But Not Without ReasonSummary Immatics' lead asset, IMA203, shows promising early data with a 57% ORR in heavily pretreated patients, but toxicity concerns remain. Financially, IMTX has a $540mn market cap and $628mn cash, but negative enterprise value due to early-stage data and long catalyst desert. Phase 3 trial for IMA203 will produce interim data in early 2026, with no clear topline data timeline, creating uncertainty. Despite early signs of activity, I recommend waiting for phase 3 data before considering an investment due to the small market size and emerging competition. Read the full article on Seeking Alpha
Reported Earnings • Mar 27Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: €0.14 (up from €1.20 loss in FY 2023). Revenue: €155.8m (up 189% from FY 2023). Net income: €15.2m (up €112.2m from FY 2023). Profit margin: 9.8% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 39%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 16% per year.
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€166m net loss in 3 years).
分析記事 • Jan 12Revenues Working Against Immatics N.V.'s (NASDAQ:IMTX) Share PriceWith a price-to-sales (or "P/S") ratio of 6.5x Immatics N.V. ( NASDAQ:IMTX ) may be sending bullish signals at the...
Price Target Changed • Jan 07Price target decreased by 8.8% to US$16.42Down from US$18.00, the current price target is an average from 6 analysts. New target price is 133% above last closing price of US$7.04. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.62 next year compared to a net loss per share of €1.20 last year.
お知らせ • Oct 12Immatics N.V. has completed a Follow-on Equity Offering in the amount of $150.3125 million.Immatics N.V. has completed a Follow-on Equity Offering in the amount of $150.3125 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 16,250,000 Price\Range: $9.25 Discount Per Security: $0.555
お知らせ • Oct 10+ 2 more updatesImmatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common Stock Transaction Features: At the Market Offering
分析記事 • Sep 21Immatics N.V.'s (NASDAQ:IMTX) Price Is Out Of Tune With RevenuesImmatics N.V.'s ( NASDAQ:IMTX ) price-to-sales (or "P/S") ratio of 15.7x might make it look like a sell right now...
Reported Earnings • Aug 14Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: €0.17 loss per share (improved from €0.32 loss in 2Q 2023). Revenue: €18.8m (down 16% from 2Q 2023). Net loss: €18.0m (loss narrowed 27% from 2Q 2023). Revenue exceeded analyst estimates by 41%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Price Target Changed • Aug 01Price target decreased by 7.9% to US$17.50Down from US$19.00, the current price target is an average from 4 analysts. New target price is 48% above last closing price of US$11.81. Stock is down 6.4% over the past year. The company is forecast to post a net loss per share of €1.13 next year compared to a net loss per share of €1.20 last year.
お知らせ • Jul 31Immatics N.V. Appoints Alise Reicin to Board of DirectorsImmatics N.V. announced the appointment of Alise Reicin, M.D., to its Board of Directors. Alise Reicin is an experienced and expert pharmaceutical industry executive and leader who has led the development of multiple important new therapies, including Keytruda®. Dr. Reicin currently serves as the President and CEO of Tectonic Therapeutic and is also a member of the Board of Directors of Sana Biotechnology. She joins Immatics’ Board of Directors as the Company advances its pipeline of novel TCR-based cell therapy and bispecific product candidates into the next phase of development. Dr. Reicin brings extensive experience in early- and late-stage clinical development and a legacy of approved drugs in diverse therapeutic areas. Most recently, Dr. Reicin joined Tectonic Therapeutic, a company transforming the discovery of novel GPCR-targeted therapies, and, under her leadership, the company completed an $80 million Series A financing, moved its first asset into the clinic and entered the Nasdaq Global Market under the ticker symbol “TECX.” Before joining Tectonic Therapeutic, Dr. Reicin held leadership positions at several international pharmaceutical companies, including Celgene as President, Global Clinical Development, and EMD Serono as Senior Vice President, Global Head of Clinical Development. Dr. Reicin also held the position of Vice President, Project and Pipeline Leadership, Oncology Franchise, Merck Research Laboratories at Merck & Co. During her tenure, she led the initial development and filing activities that resulted in the first approvals of Keytruda® in the United States and European Union. Prior to Merck & Co., she was a full-time faculty member at Columbia Medical School as well as a physician and researcher at Columbia Presbyterian Hospital. Dr. Reicin received her M.D. from Harvard Medical School and her B.A. in Biochemistry from Barnard College of Columbia University. Dr. Reicin’s appointment to the Board of Directors continues through the Company’s Annual General Meeting in 2025.
分析記事 • Jul 12Immatics (NASDAQ:IMTX) Is In A Good Position To Deliver On Growth PlansEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
New Risk • May 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€26m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€26m free cash flow). Earnings are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€157m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).
Reported Earnings • May 17First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: €0.03 loss per share (improved from €0.26 loss in 1Q 2023). Revenue: €30.3m (up 209% from 1Q 2023). Net loss: €3.05m (loss narrowed 85% from 1Q 2023). Revenue exceeded analyst estimates by 49%. Earnings per share (EPS) also surpassed analyst estimates by 88%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Major Estimate Revision • May 16Consensus estimates of losses per share improve by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €59.0m to €62.5m. EPS estimate increased from -€1.35 per share to -€1.21 per share. Biotechs industry in the US expected to see average net income decline 9.5% next year. Consensus price target up from US$19.00 to US$19.40. Share price was steady at US$10.81 over the past week.
New Risk • May 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€165m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).
分析記事 • May 03Pinning Down Immatics N.V.'s (NASDAQ:IMTX) P/S Is Difficult Right NowYou may think that with a price-to-sales (or "P/S") ratio of 19.4x Immatics N.V. ( NASDAQ:IMTX ) is a stock to...
New Risk • Mar 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€171m net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding).
Reported Earnings • Mar 21Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: €1.20 loss per share (down from €0.56 profit in FY 2022). Revenue: €54.0m (down 69% from FY 2022). Net loss: €97.0m (down 359% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
お知らせ • Jan 30Immatics N.V., Annual General Meeting, Jun 19, 2024Immatics N.V., Annual General Meeting, Jun 19, 2024.
お知らせ • Jan 19Immatics N.V. has completed a Follow-on Equity Offering in the amount of $175.175 million.Immatics N.V. has completed a Follow-on Equity Offering in the amount of $175.175 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 15,925,000 Price\Range: $11 Discount Per Security: $0.66
お知らせ • Jan 18Immatics N.V. has filed a Follow-on Equity Offering.Immatics N.V. has filed a Follow-on Equity Offering. Security Name: Ordinary Shares Security Type: Common Stock
New Risk • Nov 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 7.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€117m free cash flow). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€141m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).
New Risk • Nov 16New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€117m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€117m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€98m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).
Price Target Changed • Nov 15Price target increased by 8.2% to US$19.83Up from US$18.33, the current price target is an average from 6 analysts. New target price is 104% above last closing price of US$9.70. Stock is down 8.6% over the past year. The company is forecast to post a net loss per share of €1.24 compared to earnings per share of €0.56 last year.
お知らせ • Nov 09Immatics N.V. Reports Interim Clinical Data from ACTengine IMA203 and IMA203CD8 TCR-T Monotherapies Targeting PRame in an Ongoing Phase 1 TrialImmatics N.V. announced interim data from the ongoing Phase 1 trial with ACTengine®? IMA203 in patients with recurrent and/or refractory solid cancers. The update is focused on IMA203 GEN1 in melanoma at the recently defined recommended Phase 2 dose (RP2D) and the first clinical data for IMA203CD8 GEN2. Treatment with IMA203 GEN1 monotherapy in Phase 1a and Phase 1b Cohort A at RP2D demonstrated durable objective responses in melanoma patients with one patient exceeding 12 months and two patients exceeding 15 months post infusion and a 50% (6/12) confirmed objective response rate (cORR). In line with previous results, IMA203 GEN1 monotherapy was well tolerated at total doses up to 10x109 TCR-T cells infused. In addition, the first data on the company’s second-generation product candidate IMA203CD8 demonstrated 56% (5/9) cORR with enhanced pharmacology and a differentiated response pattern compared to IMA203 GEN1. The company plans to develop IMA203 GEN1 in melanoma and to pursue development of IMA203 in ovarian cancer, uterine cancer, NSCLC, triple-negative breast cancer and other tumor types preferentially with IMA203CD8 GEN2. The melanoma-focused data on IMA203 GEN1 will be presented by Martin Wermke, MD, Professor at the University Hospital Dresden and Coordinating Investigator of the ACTengine® IMA203 TCR-T trial, at the 20th International Congress of the Society for Melanoma Research in Philadelphia, PA, taking place November 6th-9th, 2023. IMA203 GEN1 in melanoma patients treated at RP2D: IMA203 GEN1 demonstrates a high rate of objective responses with ongoing durability of more than 15 months after treatment: At data cut-off on September 30, 2023, a total of 16 PRAME-positive patients with cutaneous, uveal or melanoma of unknown primary origin were infused with IMA203 GEN1 at the recommended Phase 2 dose (RP2D, 1-10x109 total TCR-T cells) across Phase 1a or Phase 1b Cohort A. IMA203 GEN1 monotherapy continues to be well tolerated. All 16 patients experienced cytopenia (Grade 1-4) associated with lymphodepletion as expected. Patients had mostly mild-moderate cytokine release syndrome (CRS), of which 10 patients (63%) had Grade 1, and 5 patients (31%) Grade 2 and 1 patient (6%) Grade 3 CRS. One non-serious, mild (Grade 1) immune effector cell associated neurotoxicity syndrome (ICANS) was observed. No dose-dependent increase of CRS, no dose-limiting toxicities (DLTs) and no IMA203-related death was observed. The safety profile for non-melanoma patients treated with IMA203 GEN1 was generally consistent with safety in the melanoma subset and is provided in the appendix of the presentation. 13 out of 16 infused patients were evaluable for efficacy analysis based on at least one tumor response assessment being available post treatment. These patients received a median total infused dose of 1.73x109 IMA203 TCR-T cells (range 1.07-5.12x109 TCR-T cells). Most patients were heavily pre-treated with a median of 4 lines of systemic therapies, thereof a median of 2 lines of checkpoint inhibitors; all 8 cutaneous melanoma patients were checkpoint inhibitor-refractory and 5 of 8 were BRAF inhibitor-pretreated. 50% (6/12) confirmed objective response rate (cORR) and 62% (8/13) initial ORR (RECIST 1.1). Durability of responses ongoing beyond 12 months in one patient and 15 months in two patients after treatment. Median duration of response (mDOR) was not reached (min 2.2+ months, max 14.7+ months) at a median follow-up (mFU) of 14.4 months. RP2D has been defined at 1-10x109 total TCR-T cells. Cell product manufacturing: 7-day manufacturing process plus 7-day release testing. Manufacturing success rate: >95% to reach RP2D. Immatics has recently received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA for IMA203 GEN1 in multiple PRAME-expressing cancers, including cutaneous and uveal melanoma, and is now targeting a registration-enabling Phase 2 trial in cutaneous melanoma potentially bundled with uveal melanoma in 2024. Discussions with FDA to align on patient populations, trial design and CMC aspects concerning the planned Phase 2 trial are ongoing. IMA203CD8 GEN2 in Cohort C: First clinical data set on IMA203CD8 shows an enhanced pharmacology profile with a differentiated response pattern compared to IMA203 GEN1 At data cut-off on September 30, 2023, a total of 12 PRAME-positive patients were infused with IMA203CD8 GEN2 across DL3 (0.2-0.48x109 TCR-T cells/m2 BSA), DL4a (0.481-0.8x109 TCR-T cells/m2 BSA) and DL4b (0.801-1.2x109 TCR-T cells/m2) in Cohort C with a median total infused dose of 1.17x109 IMA203CD8 TCR-T cells (range 0.64-2.05x109 TCR-T cells). All patients were heavily pre-treated with a median of 3 lines of systemic therapies. All patients experienced cytopenia (Grade 1-4) associated with lymphodepletion as expected. 11 out of 12 patients (92%) experienced a cytokine release syndrome (CRS), of which 8 patients (67%) had Grade 1 or 2 CRS, 2 patients (17%) had Grade 3 CRS and 1 patient (8%) had a Grade 4 CRS. The latter patient also had a reported Grade 4 neurotoxicity. No ICANS or neurotoxicity was reported for the other patients. No IMA203CD8-related deaths were observed. Dose-limiting toxicities (DLTs) were reported for 2 of 4 patients treated at DL4b. No DLT was reported for all 4 patients treated at DL3, or all 4 patients treated at DL4a. DL4a dose cohort is ongoing. Initial clinical activity was observed with a cORR of 56% (5/9) and initial ORR of 58% (7/12) (RECIST 1.1). 6 of 7 responses (including two unconfirmed responses with no subsequent scan available at data cut-off) were ongoing at data cut-off with longest response at >12 months after infusion. mDOR was not reached (min 2.0+ months, max 11.5+ months) at a mFU of 4.8 months. Reduction of tumor size was observed in 11 out of 12 patients, with a deepening of response from initially stable disease (SD) to partial response (PR) observed in two patients. Translational data showed enhanced pharmacology of IMA203CD8 GEN2: trend towards responses at lower T cell dose and higher tumor burden compared to IMA203 GEN1; IMA203CD8 GEN2 achieved higher peak expansion (Cmax) when normalized to infused dose and T cells showed higher initial activation levels without exhaustion over time.
New Risk • Nov 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 13% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€111m net loss in 2 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).
New Risk • Nov 03New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€135m net loss in 3 years). Shareholders have been diluted in the past year (8.6% increase in shares outstanding).
お知らせ • Oct 25Immatics N.V. Receives FDA Regenerative Medicine Advanced Therapy (RMAT) Designation for ACTengine(R) IMA203 TCR-T MonotherapyImmatics N.V. announced that its IMA203 TCR-T program has received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA Center for Biologics Evaluation and Research (CBER) in multiple relapsed and/or refractory HLA-A*02:01-positive and PRAME-expressing cancers, including cutaneous melanoma, uveal melanoma, endometrial carcinoma, synovial sarcoma, and ovarian cancer. IMA203 is a TCR-T cell therapy targeting PRAME, a protein frequently expressed in a large variety of solid tumors. Established under the 21st Century Cures Act, RMAT designation is a dedicated program designed to expedite the development and review processes for promising pipeline products, including cell therapies, that includes all the benefits of Fast Track and Breakthrough designation programs. An investigational cell therapy is eligible for RMAT designation if it meets the definition of regenerative medicine therapy, it is intended to treat, modify, reverse, or cure a serious or life-threatening disease; and preliminary clinical evidence indicates that the therapy has the potential to address unmet medical needs for that disease. Advantages of the RMAT designation include early interactions with the FDA that may be used to discuss potential surrogate or intermediate endpoints for accelerated approval and potential ways to satisfy post-approval requirements, potential priority review of the biologics license application (BLA) and other opportunities to expedite development and review. Based on publicly available information1, it is the Company’s understanding that this is the first time that FDA has granted a RMAT designation for an oncology drug candidate for more than two solid tumor indications. As of Sep 30, 2023, the U.S. FDA has received at least 238 requests for RMAT designations and granted 92.
分析記事 • Sep 26We're Hopeful That Immatics (NASDAQ:IMTX) Will Use Its Cash WiselyEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
お知らせ • Aug 11Immatics N.V. Initiates Phase 1/2 Clinical Trial to Evaluate Promame TCR Bispecific IMA402 in Patients with Advanced Solid TumorsImmatics N.V. announced the initiation of a Phase 1/2 clinical trial with its proprietary Bispecific T cell engaging receptor (TCER®) IMA402. IMA402 is the second product candidate in Immatics’ TCER® pipeline of next-generation, half-life extended bispecific molecules to enter clinical development. It targets an HLA-A02:01-presented peptide derived from PRAME, a clinically established cancer target frequently expressed in a large variety of solid tumors. The Phase 1/2 clinical trial (NCT05958121) investigates TCER® IMA402 in HLA-A02:01-positive patients with PRAME-expressing recurrent and/or refractory solid tumors. The dose escalation part of the study is designed as a basket trial in focus indications to accelerate signal finding. Initial focus indications are cutaneous and uveal melanoma, ovarian cancer, lung cancer, uterine cancer and synovial sarcoma, among others. Primary objectives of the IMA402 Phase 1/2 trial are to determine the maximum tolerated dose (MTD) and/or the recommended doses for trial extensions, as well as to characterize safety and tolerability of IMA402. Secondary objectives are to evaluate anti-tumor activity and assess pharmacokinetics of IMA402. The Phase 1a dose escalation will be followed by a Phase 1b dose expansion, with the plan then to initiate a Phase 2 with indication-specific cohorts and/or combination therapies. Immatics has implemented an adaptive design for the dose escalation with the goal to accelerate the clinical development timeline of IMA402. Pharmacokinetics data will be assessed throughout the trial and might provide an early opportunity for adjustment of the treatment interval based on the half-life extended TCER® format. The trial is initially planned to be conducted at approximately 15 sites in Europe, with extension into the US at dose expansion stage. The Phase 1a is designed to enroll approximately 45 patients. The trial initiation is based on the comprehensive preclinical studies with IMA402 presented at the European Society for Medical Oncology (ESMO) Congress 2022. TCER® IMA402 is the second Immatics clinical program targeting PRAME, with the first being ACTengine® IMA203, a TCR-T cell therapy that is currently in Phase 1b dose expansion – see recent data release. Both approaches, ACTengine® and TCER®, are distinct therapeutic modalities that the company believe have the potential to provide innovative treatment options for a variety of cancer patient populations with different medical needs.
分析記事 • Jun 12We're Hopeful That Immatics (NASDAQ:IMTX) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
お知らせ • May 27Immatics N.V., Annual General Meeting, Jun 20, 2023Immatics N.V., Annual General Meeting, Jun 20, 2023, at 14:00 Central European Standard Time. Location: At the offices of NautaDutilh N.V., Beethovenstraat 400, 1082 PR Amsterdam Amsterdam Netherlands Agenda: To consider discussion of the statutory board report regarding the financial year ended 31 December 2022; to consider discussion of the Company’s dividend and reservation policy; to consider adoption of the statutory annual accounts for the financial year ended 31 December 2022; to consider discharge from liability for the members of the Company’s board of directors (the 'Board') with respect to the performance of their duties during the financial year ended 31 December 2022; to consider reappointment of Dr. H. Singh Jasuja as executive director class III; to consider appointment of Dr. M.P. Hothum as non-executive director class III; to consider extension of the authorisation of the Board to acquire ordinary shares or depositary receipts thereof; and to consider other matters.
Reported Earnings • May 16First quarter 2023 earnings released: €0.26 loss per share (vs €1.36 profit in 1Q 2022)First quarter 2023 results: €0.26 loss per share (down from €1.36 profit in 1Q 2022). Revenue: €9.80m (down 91% from 1Q 2022). Net loss: €19.7m (down 123% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • May 04Investor sentiment improves as stock rises 42%After last week's 42% share price gain to US$9.68, the stock trades at a trailing P/E ratio of 18x. Average forward P/E is 11x in the Biotechs industry in the US. Total loss to shareholders of 9.9% over the past three years.
Valuation Update With 7 Day Price Move • Apr 19Investor sentiment improves as stock rises 22%After last week's 22% share price gain to US$7.20, the stock trades at a trailing P/E ratio of 13.4x. Average forward P/E is 12x in the Biotechs industry in the US. Total loss to shareholders of 32% over the past three years.
Major Estimate Revision • Mar 29Consensus revenue estimates increase by 11%, EPS downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €45.0m to €50.1m. EPS estimate fell from -€1.36 to -€1.42 per share. Biotechs industry in the US expected to see average net income decline 49% next year. Consensus price target down from US$20.00 to US$18.25. Share price rose 3.7% to US$7.59 over the past week.
Price Target Changed • Mar 26Price target decreased by 8.8% to US$18.25Down from US$20.00, the current price target is an average from 6 analysts. New target price is 171% above last closing price of US$6.74. Stock is down 9.9% over the past year. The company is forecast to post a net loss per share of €1.42 compared to earnings per share of €0.56 last year.
Reported Earnings • Mar 22Full year 2022 earnings released: EPS: €0.56 (vs €1.48 loss in FY 2021)Full year 2022 results: EPS: €0.56 (up from €1.48 loss in FY 2021). Revenue: €172.8m (up 397% from FY 2021). Net income: €37.5m (up €130.8m from FY 2021). Profit margin: 22% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is expected to decline by 95% p.a. on average during the next 2 years, while revenues in the Biotechs industry in the US are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Dec 15Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to US$9.31, the stock trades at a trailing P/E ratio of 19.6x. Average forward P/E is 9x in the Biotechs industry in the US. Total loss to shareholders of 10% over the past three years.
Major Estimate Revision • Nov 24Consensus EPS estimates increase by 76%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €151.6m to €156.4m. EPS estimate increased from €0.37 to €0.64 per share. Net income forecast to shrink 310% next year vs 93% decline forecast for Biotechs industry in the US. Consensus price target of US$20.00 unchanged from last update. Share price fell 3.6% to US$9.94 over the past week.
Reported Earnings • Nov 19Third quarter 2022 earnings: EPS and revenues exceed analyst expectationsThird quarter 2022 results: €0.32 loss per share (improved from €0.43 loss in 3Q 2021). Revenue: €15.1m (up 134% from 3Q 2021). Net loss: €20.9m (loss narrowed 23% from 3Q 2021). Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Seeking Alpha • Oct 10Immatics launches $110M stock offeringImmatics (NASDAQ:IMTX) is selling 10,905,000 of its ordinary shares at a price of $10.09/share in an underwritten public offering. Gross proceeds from the offering are expected to be ~$110M. The offering is expected to close on Oct 12, 2022.
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$10.80, the stock trades at a trailing P/E ratio of 25.6x. Average forward P/E is 9x in the Biotechs industry in the US. Total returns to shareholders of 5.8% over the past three years.
Reported Earnings • Aug 10Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: €0.21 loss per share (up from €0.42 loss in 2Q 2021). Revenue: €17.2m (up 232% from 2Q 2021). Net loss: €14.0m (loss narrowed 47% from 2Q 2021). Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates by 200%. Over the next year, revenue is expected to shrink by 33% compared to a 51% growth forecast for the industry in the US.
Valuation Update With 7 Day Price Move • Jul 21Investor sentiment improved over the past weekAfter last week's 20% share price gain to US$10.28, the stock trades at a trailing P/E ratio of 41.9x. Average forward P/E is 10x in the Biotechs industry in the US. Total returns to shareholders of 2.9% over the past three years.
Seeking Alpha • Jul 19Cancer immunotherapy biotech Immatics up 18% on 4x normal volumeCancer immunotherapy developer Immatics (NASDAQ:IMTX) is up 17% in Tuesday afternoon trading on volume that is (IMTX) four times higher than the normal daily average. Average volume for the stock is 146,757. As of 230p ET, ~586K shares had traded hands. There is no news from Immatics (IMTX) or other catalyst that might explain the upswing. The company is focused on T-cell receptor T (TCR-T) cell therapies. Its most advanced candidate is in phase 1b, according to a recent corporate presentation. Immatics (IMTX) also has partnerships with Bristol-Myers Squibb (BMY), GlaxoSmithKline (GSK), and Genmab (GMAB) Seeking Alpha's Quant Rating views Immatics (IMTX) as a buy with high grades for profitability and revisions.
Price Target Changed • Jul 14Price target decreased to US$20.00Down from US$22.80, the current price target is an average from 5 analysts. New target price is 134% above last closing price of US$8.54. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.40 next year compared to a net loss per share of €1.48 last year.
Reported Earnings • Jun 03First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: €1.36 (up from €0.36 loss in 1Q 2021). Revenue: €102.9m (up €95.5m from 1Q 2021). Net income: €85.7m (up €108.5m from 1Q 2021). Profit margin: 83% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 1.6%, compared to a 42% growth forecast for the industry in the US.
Price Target Changed • May 05Price target decreased to US$22.80Down from US$24.80, the current price target is an average from 5 analysts. New target price is 195% above last closing price of US$7.72. Stock is down 33% over the past year. The company is forecast to post earnings per share of €0.50 next year compared to a net loss per share of €1.48 last year.
Breakeven Date Change • Apr 27Forecast to breakeven in 2022The 5 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.
Breakeven Date Change • Apr 01Forecast to breakeven in 2022The 5 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.
Breakeven Date Change • Mar 28Forecast to breakeven in 2022The 4 analysts covering Immatics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €36.7m in 2022. Earnings growth of 16% is required to achieve expected profit on schedule.
Major Estimate Revision • Feb 27Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €55.9m to €29.5m. EPS estimate unchanged from -€1.48 per share at last update. Biotechs industry in the US expected to see average net income decline 14% next year. Consensus price target of US$23.00 unchanged from last update. Share price fell 5.3% to US$8.17 over the past week.
分析記事 • Jan 29Here's Why We're Watching Immatics' (NASDAQ:IMTX) Cash Burn SituationJust because a business does not make any money, does not mean that the stock will go down. For example, although...
分析記事 • Dec 16Analysts' Revenue Estimates For Immatics N.V. (NASDAQ:IMTX) Are Surging HigherImmatics N.V. ( NASDAQ:IMTX ) shareholders will have a reason to smile today, with the analysts making substantial...
Major Estimate Revision • Dec 16Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €30.7m to €55.9m. EPS estimate reaffirmed at -€1.48 per share. Biotechs industry in the US expected to see average net income decline 11% next year. Consensus price target up from US$24.00 to US$24.80. Share price rose 7.2% to US$12.43 over the past week.
Reported Earnings • Nov 19Third quarter 2021 earnings released: €0.43 loss per share (vs €2.61 loss in 3Q 2020)The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: €6.44m (down 18% from 3Q 2020). Net loss: €27.2m (loss narrowed 83% from 3Q 2020).
Reported Earnings • Aug 12Second quarter 2021 earnings released: €0.38 loss per share (vs €18.08 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: €5.19m (down 25% from 2Q 2020). Net loss: €23.8m (loss widened 13% from 2Q 2020).
Executive Departure • Jun 24Supervisory Director Christof Hettich has left the companyOn the 17th of June, Christof Hettich's tenure as Supervisory Director ended. We don't have any record of a personal shareholding under Christof's name. Christof is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model.
Executive Departure • Jun 23Supervisory Director Christof Hettich has left the companyOn the 17th of June, Christof Hettich's tenure as Supervisory Director ended. We don't have any record of a personal shareholding under Christof's name. Christof is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model.
Major Estimate Revision • May 25Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €32.5m to €34.3m. Forecast EPS reduced from -€1.27 to -€1.40 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target of US$23.75 unchanged from last update. Share price was steady at US$11.22 over the past week.
Reported Earnings • May 19First quarter 2021 earnings released: €0.34 loss per share (vs €7.14 loss in 1Q 2020)The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: €7.40m (up 5.2% from 1Q 2020). Net loss: €21.6m (loss widened 160% from 1Q 2020).
お知らせ • May 12Immatics Presents Preclinical Proof-Of-Concept Data for TCR Bispecifics Program IMA402 Targeting PRAMEImmatics N.V. announced data from its second T cell receptor Bispecifics program, IMA402, supporting preclinical proof-of-concept for the program and further validating this proprietary therapeutic modality. IMA402 is directed against the cancer target PRAME, a protein that is frequently expressed in many solid cancers, thereby supporting the program’s potential to address a broad cancer patient population. IMA402 is the second program originating from Immatics’ TCR Bispecifics pipeline, called T Cell Engaging Receptor. The lead candidate showed anti-tumor activity against PRAME-positive cancer cells leading to consistent reduction of the engrafted tumors, including complete responses in an in vivo mouse model. The preclinical data will be presented at the virtual 17th Annual PEGS Boston Protein Engineering and Cell Therapy Summit, on May 11-13, 2021. Preclinical data highlights: The IMA402 TCER candidate targets an HLA-A*02-bound peptide derived from preferentially expressed antigen in melanoma. The target peptide was selected and validated based on quantitative mass spectrometry data from Immatics’ proprietary XPRESIDENT platform and is prevalent in many solid tumor indications including lung, ovarian and breast cancer as well as other solid cancer types. Over 50 different human wild-type TCRs recognizing the PRAME target peptide were systematically evaluated using Immatics’ XCEPTOR platform. Two TCRs with high avidity and specificity were selected and affinity-enhanced by at least 1,000-fold while retaining specificity through the XPRESIDENT-guided screening for off-target toxicity and cross-reactivity. Different engineered TCR variants were then incorporated into the bispecific TCER scaffold and the best candidate was selected. The IMA402 TCER candidate induces killing of tumor cells in vitro with PRAME target peptide levels similar to levels found in cancer patients. Administration of IMA402 TCER candidate leads to consistent tumor regression including complete responses in an in vivo mouse model. The IMA402 TCER® candidate demonstrates selective PRAME recognition leading to an at least 1,000-fold therapeutic window between tumor and normal cell reactivity in vitro. Preclinical data support antibody-like profiles for manufacturability and pharmacokinetics of the IMA402 TCER candidate. For the IMA402 TCER program, Immatics has initiated GMP process development activities to advance this program towards the Investigational New Drug stage and clinical development. The company’s first TCER program, IMA401 remains on track for submission of a clinical trial application by year end 2021. The company had previously announced preclinical proof-of-concept data for IMA401 in last quarter of 2020.
Reported Earnings • Apr 02Full year 2020 earnings released: €4.77 loss per share (vs €0.95 loss in FY 2019)The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €31.3m (up 69% from FY 2019). Net loss: €229.1m (loss widened €197.5m from FY 2019). Products in clinical trials Phase I: 3
分析記事 • Apr 01Immatics N.V. (NASDAQ:IMTX) Analysts Are Pretty Bullish On The Stock After Recent ResultsThere's been a notable change in appetite for Immatics N.V. ( NASDAQ:IMTX ) shares in the week since its full-year...