Immatics N.V.
IMTX · Biological Products, (No Diagnostic Substances) · EDGAR filings ↗
Grade
C63Well-capitalized clinical-stage immuno-oncology biotech with no products, deep losses, but a strong balance sheet and ~7.6 quarters of runway.
Strengths
- Cash & investments of $406M (83rd pct) and current/quick ratio of 11.7 (86th pct) give a strong liquidity cushion
- Cash runway ~7.6 quarters (57th pct) is adequate for a pre-revenue biotech
Risks
- History of operating losses (accumulated €786M) with FCF -$215M (14th pct) and negative interest coverage
- Binary clinical and dilution risk; no approved products and will need additional capital
Notable findings
- No interest coverageInterest coverage -192.41 (cannot cover interest)
- Cash burnNegative free cash flow (-215.3M)
Key metrics
Return on equity
-40.6%
Return on assets
-34.9%
Interest coverage
-192.4×
Current ratio
11.7×
Free cash flow
-$215M
Tangible book value
$569M
Cash & investments
$406M
Cash runway
8q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-05 | 2025-12-31 | 0001193125-26-092529 ↗ |
| 20-F | 2025-03-27 | 2024-12-31 | 0000950170-25-045724 ↗ |
| 20-F | 2024-03-21 | 2023-12-31 | 0001193125-24-073296 ↗ |
| 20-F | 2023-03-22 | 2022-12-31 | 0001193125-23-076227 ↗ |
| 20-F | 2022-03-23 | 2021-12-31 | 0001193125-22-082242 ↗ |
| 20-F | 2021-03-30 | 2020-12-31 | 0001193125-21-099162 ↗ |
| 20-F | 2020-07-08 | 2020-07-01 | 0001193125-20-189264 ↗ |