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Germany's Immatics Q3 revenue misses estimates, net loss widens on higher spending 

By Reuters News


Overview

  • Germany cancer cell therapy developer's Q3 collaboration revenue rose but missed analyst expectations

  • Q3 net loss widened and was larger than analyst estimates, driven by higher R&D costs

  • Company ended Q3 with €472.3 mln in cash and projects cash reach into Q4 2028


Outlook

  • Immatics expects enrollment in SUPRAME Phase 3 trial to complete by year-end 2026

  • Company anticipates topline SUPRAME data disclosure in H1 2027, BLA submission to follow in 2027

  • Cash reach now projected into Q4 2028


Result Drivers

  • HIGHER R&D SPENDING - Co said increased research and development expenses were mainly due to advancing product candidates in clinical trials, particularly the SUPRAME trial

  • COMMERCIAL PREPARATIONS - Co attributed higher general and administrative expenses to activities in preparation for commercialization of anzu-cel

  • REVENUE INCREASE FROM COLLABORATIONS - Co said revenue rose mainly due to a higher milestone and increased activity in collaboration programs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Collaboration Revenue

Miss

EUR 6.92 mln

EUR 10.62 mln (8 Analysts)

Q3 Net Loss

Miss

EUR 76.02 mln

EUR 65.47 mln (7 Analysts)

Q3 Operating Income

Miss

-EUR 78.54 mln

-EUR 68.26 mln (8 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • Wall Street's median 12-month price target for Immatics N.V. is $17.00, about 164.4% above its November 9 closing price of $6.43


Reuters Recommended Reads

  • Nov 10 - MaxCyte looks to acquire Akron Bio to expand cell therapy manufacturing; Q3 revenue rises

  • Nov 9 - ADC Therapeutics Q3 revenue beats estimates on sales volume

  • Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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