Immatics N.V. announces progress in cancer therapies, financials show revenue increase

From GlobeNewswire: 2024-11-18 07:00:00

Immatics N.V. announces progress in targeting five major cancer types with its four active compounds for TCR-T cell therapies and TCR-based Bispecifics. Clinical data for TCER® IMA402 in Phase 1 trial shows promising results in melanoma patients, with early pharmacokinetic data suggesting bi-weekly dosing may be possible. A Phase 3 trial for ACTengine® IMA203 in metastatic melanoma patients is planned for December 2024.

ACTengine® IMA203 targeting PRAME demonstrates deep and durable responses in metastatic melanoma patients. Next-generation ACTengine® IMA203CD8 shows enhanced pharmacology and potency, paving the way for future development in solid cancers with medium-level PRAME copy numbers like ovarian and endometrial cancer. TCER® IMA401 targeting MAGEA4/8 shows initial anti-tumor activity across multiple tumor types.

Immatics N.V. completes a $150 million public offering and reports a cash balance of $549.2 million as of September 30, 2024. Revenue from collaboration agreements for the quarter ended September 30, 2024, was $56.7 million. The company discloses financial results and progress in its clinical pipeline candidates.

Immatics N.V. to commence SUPRAME, a Phase 3 trial evaluating IMA203 targeting PRAME in HLA-A*02:01-positive melanoma patients. The trial aims to enroll 360 patients and is set to be completed by 2026. Immatics intends to submit a Biologics License Application for full approval in early 2027.

Financial results for the third quarter of 2024 show a net loss of $9.6 million, a decrease from the same period in 2023. Total revenue for the quarter was $56.7 million, with an increase mainly attributed to a one-time revenue associated with a collaboration agreement termination.

Immatics N.V. reports a total comprehensive loss of $9.9 million for the year. The company’s total assets amount to $577.2 million as of September 30, 2024. Cash flows from operating activities show a net cash used of $99.6 million for the nine months ended September 30, 2024.

Balance sheet data for Immatics N.V. shows a total shareholders’ equity of $382.5 million as of September 30, 2024. The company’s financial position remains strong, with a cash balance of $189.2 million and total assets of $577.2 million.

All financial figures are translated using the exchange rate published by the European Central Bank as of September 30, 2024 (1 EUR = 1.1196 USD). Immatics N.V. continues to make progress in its clinical pipeline and financial performance, positioning itself as a key player in cancer immunotherapy.



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