Immatics experienced a sharp decline in revenue compared to the prior year due to lower activity levels in its collaboration agreements with Moderna and BMS. The company reported a net loss of €50.5 million for the quarter amid rising research and development expenses, driven by increased clinical trial activities.

Immatics' Q2 2025 revenue fell year-over-year as milestone income declined, while R&D investments increased to support PRAME clinical programs. The company retains over $560M in cash and continues progressing multiple pipeline assets across trials.

Immatics reported a significant increase in net loss for Q1 2025 compared to the same period last year, primarily due to lower revenue from collaboration agreements and unrealized foreign exchange losses. The company continues to advance its clinical pipeline, particularly the SUPRAME Phase 3 trial for IMA203, and maintains a strong cash position.