NASDAQ$IMTX
Immatics NV · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Immatics Q2 2025: anzu-cel Phase 3 advances; $560M cash runway into 2H 2027
Immatics reported Q2 2025 results with collaboration revenue of $5.5 million, down from higher prior-year milestone recognition. The company reported a net loss of $82.4 million, or $(0.58) per basic and diluted share, compared to a $(0.17) per share loss in Q2 2024. R&D expenses were $52.9 million as the company advanced its PRAME franchise. Cash and cash equivalents plus other financial assets totaled $560.5 million (€478.2 million), providing runway into the second half of 2027. Key clinical progress included updated Phase 1b anzu-cel data at ASCO showing 56% cORR in metastatic melanoma, and the ongoing global Phase 3 SUPRAME trial with interim analyses expected in 2026. Pipeline updates for IMA203CD8, IMA402, and IMA401 are planned for Q4 2025.
- Q2 collaboration revenue $5.5M; net loss $82.4M; EPS $(0.58)
- R&D expenses $52.9M; cash and financial assets $560.5M
- Cash runway into 2H 2027 excluding potential milestones
- Anzu-cel Phase 1b: 56% cORR, 12.1-month mDOR at ASCO 2025
- SUPRAME Phase 3 in advanced melanoma ongoing; data updates in 2026
Headline financials
Revenue & EPS history
Immatics · Revenue · Quarterly
$5.5M
Forward guidance
Immatics expects SUPRAME Phase 3 interim and final analyses in 2026, with pipeline data updates for IMA203CD8, IMA402, and IMA401 planned in Q4 2025.
Tailwinds
- Strong anzu-cel Phase 1b efficacy and durability data at ASCO
- Broad PRAME franchise across cell therapy and bispecific modalities
- $560.5M cash provides runway into 2H 2027
Headwinds
- Significant quarterly net loss of $82.4M with pre-commercial revenue base
- Clinical and regulatory timelines for SUPRAME remain uncertain
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2025
-0.8%
Avg return
Earnings day
-1.0%
Avg return
5 days after
+4.6%
Avg return
30 days after
46%
11 / 24 earnings
Positive
+9.1%
Q3 2020
Best reaction
-11.3%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | -5.0% | -3.3% | -9.3% | |
| Q4 2024 | -11.3% | -11.7% | -0.2% | |
| Q1 2024 | +0.7% | -0.4% | +17.7% | |
| Q4 2023 | -6.6% | -5.6% | -15.3% | |
| Q3 2023 | -6.6% | -9.2% | +2.5% | |
| Q2 2023 | +7.3% | +9.7% | +7.1% | |
| Q1 2023 | -0.7% | -2.7% | +17.8% | |
| Q4 2022 | -5.1% | -8.7% | -2.8% | |
| Q3 2022 | +2.3% | -4.0% | -12.1% | |
| Q2 2022 | -7.0% | -9.2% | +1.3% | |
| Q1 2022 | +5.8% | +10.6% | +18.0% | |
| Q4 2021 | +1.8% | +2.7% | +6.9% | |
| Q3 2021 | +2.7% | -0.3% | +1.8% | |
| Q2 2021 | -0.7% | -0.5% | +28.2% | |
| Q1 2021 | -2.7% | +2.7% | +9.5% | |
| Q4 2020 | -5.2% | -1.6% | +5.9% | |
| Q3 2020 | +9.1% | +8.8% | +9.1% | |
| Q2 2020 | +1.6% | -5.6% | +16.5% | |
| Q1 2020 | -0.5% | +0.5% | +3.6% | |
| Q4 2019 | +0.0% | +2.1% | +2.8% | |
| Q3 2019 | +0.2% | -0.3% | +0.0% | |
| Q2 2019 | -0.3% | +1.2% | -0.2% | |
| Q1 2019 | +0.1% | +0.2% | +0.0% | |
| Q4 2018 | +1.2% | +1.2% | +1.2% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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