Immatics sees cash runway into 2028

Cash and cash equivalents, as well as other financial assets, total $551.4 million as of December 31, 2025, compared to $710.3 million as of December 31, 2024. The decrease is mainly due to $234.9 million operational cash usage, principally as a result of ongoing research and development activities, as well as unrealized foreign exchange translational losses of $41.8 million, which do not impact the expected cash reach, partially offset by the net proceeds of the public offering of $117.9 million.