Reported Earnings • 17h
First quarter 2026 earnings: EPS and revenues miss analyst expectations First 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. IMTX
Live News • May 12
Immatics Reports Wider Q1 Loss as PRAME R&D Spending Outpaces Revenue Projections Immatics reported a Q1 2026 net loss of $66.5 million (€57.8 million), with earnings per share at a loss of $0.50, which was wider than the consensus loss of $0.42 per share.
Revenue for the quarter came in at $8.91 million, which was below analyst estimates.
The company ended March 31, 2026 with $521.5 million (€453.6 million) in cash and equivalents and projects its current cash runway to extend through 2028, while advancing its PRAME-focused pipeline, including the Phase 3 SUPRAME trial for anzu-cel in advanced melanoma and early-stage programs IMA203CD8 and IMA402.
The key tension is higher spending on PRAME-targeted R&D and administration versus current revenue levels, with the sizeable cash balance providing room to continue funding clinical programs.
Investors may want to monitor upcoming 2026 clinical readouts and commercialization updates, as progress on these milestones and any changes to earnings estimates can influence sentiment on the stock. Announcement • Apr 18
Immatics N.V. Highlights Prame-Directed Tcr T-Cell Therapy Inducing Remission In Pediatric Nephroblastoma Patient Immatics 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. 
