Immatics (IMTX) 6-K 17 Aug 23 2023 Q2 Current report (foreign) Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2023
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	IMMATICS N.V.
Entity Central Index Key	0001809196
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statement of Profit/(Loss) of Immatics N.V. - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Profit or loss [abstract]
Revenue from collaboration agreements	€ 22,354	€ 17,215	€ 32,150	€ 120,123
Research and development expenses	(27,317)	(25,216)	(54,898)	(50,360)
General and administrative expenses	(9,358)	(8,683)	(18,944)	(17,961)
Other income	6	27	948	32
Operating result	(14,315)	(16,657)	(40,744)	51,834
Change in fair value of liabilities for warrants	(13,105)	(2,786)	(5,708)	13,743
Other financial income	3,954	7,015	6,748	8,774
Other financial expenses	(1,144)	(407)	(4,653)	(1,524)
Financial result	(10,295)	3,822	(3,613)	20,993
Profit/(loss) before taxes	(24,610)	(12,835)	(44,357)	72,827
Taxes on income	0	(1,145)	0	(1,145)
Net profit/(loss)	€ (24,610)	€ (13,980)	€ (44,357)	€ 71,682
Net profit/(loss) per share:
Basic	€ (0.32)	€ (0.22)	€ (0.58)	€ 1.12
Diluted	€ (0.32)	€ (0.22)	€ (0.58)	€ 1.11

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income/(Loss) of Immatics N.V. - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of comprehensive income [abstract]
Net profit/(loss)	€ (24,610)	€ (13,980)	€ (44,357)	€ 71,682
Items that may be reclassified subsequently to profit or loss
Currency translation differences from foreign operations	(224)	778	340	1,338
Total comprehensive income/(loss) for the year	€ (24,834)	€ (13,202)	€ (44,017)	€ 73,020

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Financial Position of Immatics N.V. - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	€ 130,405	€ 148,519
Other financial assets	217,222	213,686
Accounts receivables	330	1,111
Other current assets	16,668	13,838
Total current assets	364,625	377,154
Non-current assets
Property, plant and equipment	27,188	13,456
Intangible assets	1,655	1,632
Right-of-use assets	14,749	13,033
Other non-current assets	1,972	2,545
Total non-current assets	45,564	30,666
Total assets	410,189	407,820
Current liabilities
Provisions	3,117	0
Accounts payables	19,904	13,056
Deferred revenue	67,997	64,957
Liabilities for warrants	22,622	16,914
Lease liabilities	2,737	2,159
Other current liabilities	7,929	9,366
Total current liabilities	124,306	106,452
Non-current liabilities
Deferred revenue	53,559	75,759
Lease liabilities	14,085	12,403
Other non-current liabilities	26	42
Total non-current liabilities	67,670	88,204
Shareholders' equity
Share capital	804	767
Share premium	763,206	714,177
Accumulated deficit	(544,656)	(500,299)
Other reserves	(1,141)	(1,481)
Total shareholders' equity	218,213	213,164
Total liabilities and shareholders' equity	€ 410,189	€ 407,820

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows of Immatics N.V. - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net profit/(loss)	€ (44,357)	€ 71,682
Taxes on income	0	1,145
Profit/(loss) before tax	(44,357)	72,827
Adjustments for:
Interest income	(4,999)	(23)
Depreciation and amortization	3,666	3,407
Interest expenses	401	538
Equity settled share-based payment	11,615	11,262
Net foreign exchange differences and expected credit losses	4,081	(7,834)
Change in fair value of liabilities for warrants	5,708	(13,743)
Changes in:
Decrease/(increase) in accounts receivables	781	(280)
Decrease/(increase) in other assets	765	(6,903)
(Decrease)/increase in deferred revenue, accounts payables and other liabilities	(9,889)	96,933
Interest received	2,051	23
Interest paid	(146)	(434)
Income tax paid	0	0
Net cash (used in)/provided by operating activities	(30,323)	155,773
Cash flows from investing activities
Payments for property, plant and equipment	(15,004)	(1,965)
Payments for intangible assets	(154)	(6)
Proceeds from disposal of property, plant and equipment	0	1
Payments for investments classified in Other financial assets	(170,326)	(59,253)
Proceeds from maturity of investments classified in Other financial assets	164,929	12,695
Net cash (used in)/provided by investing activities	(20,555)	(48,528)
Cash flows from financing activities
Proceeds from issuance of shares to equity holders	38,608	17,112
Transaction costs deducted from equity	(1,157)	(515)
Repayment of lease liabilities	(1,866)	(1,394)
Net cash provided by/(used in) financing activities	35,585	15,203
Net (decrease)/increase in cash and cash equivalents	(15,293)	122,448
Cash and cash equivalents at beginning	148,519	132,994
Effects of exchange rate changes and expected credit losses on cash and cash equivalents	(2,821)	9,683
Cash and cash equivalents at end	€ 130,405	€ 265,125

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Changes in Shareholders' equity of Immatics N.V. - EUR (€) € in Thousands	Total	Share capital [member]	Share premium [member]	Accumulated deficit [member]	Other reserves [member]
Beginning Balance at Dec. 31, 2021	€ 24,063	€ 629	€ 565,192	€ (537,813)	€ (3,945)
Other comprehensive income	1,338				1,338
Net profit/(loss)	71,682			71,682
Comprehensive income/(loss) for the year	73,020			71,682	1,338
Equity-settled share-based compensation	11,262		11,262
Share options exercised	1		1
Issue of share capital – net of transaction costs	16,595	24	16,571
Ending Balance at Jun. 30, 2022	124,941	653	593,026	(466,131)	(2,607)
Beginning Balance at Dec. 31, 2022	213,164	767	714,177	(500,299)	(1,481)
Other comprehensive income	340				340
Net profit/(loss)	(44,357)			(44,357)
Comprehensive income/(loss) for the year	(44,017)			(44,357)	340
Equity-settled share-based compensation	11,615		11,615
Share options exercised	40		40
Issue of share capital – net of transaction costs	37,411	37	37,374
Ending Balance at Jun. 30, 2023	€ 218,213	€ 804	€ 763,206	€ (544,656)	€ (1,141)

Group information

Group information	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Group information	1. Group information Immatics N.V., together with its German subsidiary Immatics Biotechnologies GmbH and its U.S. subsidiary, Immatics US Inc., (“Immatics” or “the Group”) is a biotechnology group that is primarily engaged in the research and development of T cell redirecting immunotherapies for the treatment of cancer. Immatics N.V., a Dutch public limited liability company, was converted on July 1, 2020 from Immatics B.V., a Dutch company with limited liability. Immatics Biotechnologies GmbH (“Immatics GmbH”) and Immatics US Inc. became wholly-owned subsidiaries of Immatics N.V. as part of the ARYA Merger on July 1, 2020. Immatics N.V. is registered with the commercial register at the Netherlands Chamber of Commerce under RSIN 861058926 with a corporate seat in Amsterdam and is located at Paul-Ehrlich Str. 15 in 72076 Tübingen, Germany. These interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2023, were authorized for issue by the Audit Committee of Immatics N.V. on August 17, 2023.

Significant events and changes

Significant events and changes in the current reporting period	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Significant events and changes in the current reporting period	2. Significant events and changes in the current reporting period The following significant events or transactions occurred during the three and six months ended June 30, 2023. Opt-In TCR-T Immatics GmbH entered into a License agreement (the “BMS Opt-In Opt-In Under the 2019 agreement with BMS, Immatics granted BMS the option to enter into a pre-negotiated TCR-T Opt-In The BMS Opt-In Opt-In Opt-in The potential milestone and royalty payments are accounted for under the most likely method. No variable payment is considered likely, therefore, no variable payments are considered as part of the transaction price. For the three and six months ended June 30, 2023, the Group recognized €13.7 million of revenue related to the BMS Opt-In Macroeconomic environment Currently, multiple global uncertainties are existing. The conflict between Russia and Ukraine has resulted, and is expected to further result, in significant disruption, instability and volatility in global markets, as well as higher energy and other commodity prices. Since the Company is not currently conducting any business or receiving any material services from vendors located in Russia or Ukraine, it does not expect that the ongoing war will have a direct impact on its operations in the near term. However, the Company may be indirectly affected by price increases or certain policy changes, such as new tax legislation, economic sanctions and comparable measures. In addition, other geopolitical instabilities might impact the Group in the future. During the six months ended June 30, 2023, Silicon Valley Bank and Credit Suisse, two large banks, as well as other smaller banks, were subject to liquidity problems. The Group does not hold deposits or securities with any of the affected banks. While the banking system remained stable overall, we will continue to closely monitor the situation. While there is currently no material direct risk identified for the Group from COVID-19,

Significant accounting policies

Significant accounting policies	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Significant accounting policies	3. Significant accounting policies Basis of presentation The interim condensed consolidated financial statements of the Group as of June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 have been prepared on a going concern basis in accordance with International Accounting Standard 34 (“Interim Financial Reporting”), as issued by the International Accounting Standards Board (“IASB”) and have not been audited or reviewed by a statutory auditor. In accordance with IAS 34, the interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2022, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRS IC”). In these condensed notes to the consolidated financial statements, information is provided primarily on the items for which there have been significant changes compared with the consolidated financial statements of the Group for fiscal year 2022. The interim condensed consolidated financial statements are presented in Euros. Amounts are stated in thousands of Euros, unless otherwise indicated. For technical reasons, the information provided in these financial statements may contain rounding differences of +/- one unit. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2022. The new and amended standards and interpretations applicable for the first time as of January 1, 2023, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2022, had no impact on the interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2023. Estimates and assumptions have to be made in the interim consolidated financial statements as of June 30, 2023. These have an impact on the amount and disclosure of the recognized assets and liabilities, income and expenses, and contingent liabilities. The estimates and judgments are basically unchanged from the circumstances described in the consolidated financial statements of the Group for the fiscal year 2022. Developments deviating from this may result in the amounts that arise deviating from the original estimates. These possible developments are outside the sphere of influence of the management. Revision of previously issued financial statements During the preparation of the unaudited interim consolidated financial statements for the three and nine months ended September 30, 2022, the Group identified an error in the presentation of ‘Net foreign exchange differences’ and ‘Effects of exchange rate changes on cash and cash equivalents’ in the statement of cash flows. The error resulted in a presentation of effects from exchange rate changes on non-functional non-cash This error had no impact on the Company’s consolidated statements of financial position, of profit/(loss), of comprehensive income/(loss) and of consolidated statements of changes in equity. The Company assessed the materiality of these errors on the previously issued consolidated financial statements and concluded that the errors were not material to any period presented. The impact of the revision of the previously issued financial statements is as follows: Six months ended June 30, 2022 As reported Adjustment As revised Net foreign exchange differences and expected credit losses 115 (7,949 ) (7,834 ) Net cash provided by/(used in) operating activities 163,722 (7,949 ) 155,773 Net cash (used in)/provided by investing activities (48,528 ) — (48,528 ) Net cash (used in)/provided by financing activities 15,203 — 15,203 Net increase/(decrease) in cash and cash equivalents 130,397 (7,949 ) 122,448 Cash and cash equivalents at beginning of period 132,994 — 132,994 Effects of exchange rate changes on cash and cash equivalents 1,734 7,949 9,683 Cash and cash equivalents at end of period 265,125 — 265,125

Segment information

Segment information	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Segment information	4. Segment information The Group manages its operations as a single segment for the purpose of assessing performance and making operating decisions. The Group’s focus is on the research and development of T cell redirecting immunotherapies for the treatment of cancer. The Chief Executive Officer is the chief operating decision maker who regularly reviews the consolidated operating results and makes decisions about the allocation of the Group’s resources.

Revenue from collaboration agre

Revenue from collaboration agreements	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Revenue from collaboration agreements	5. Revenue from collaboration agreements The Group currently earns revenue through strategic collaboration agreements with third party pharmaceutical and biotechnology companies. As of June 30, 2023, the Group had four strategic collaboration agreements in place after the collaboration with GSK plc (“GSK”) was terminated in 2022. Three of the four collaboration programs are still at pre-clinical Revenue from collaboration agreements were realized with the following partners: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Genmab, Denmark 915 4,125 215 7,044 BMS, United States 21,439 12,107 31,935 110,532 GSK, United Kingdom — 983 — 2,547 Total 22,354 17,215 32,150 120,123 As of June 30, 2023, the Group has not recognized any milestone revenue under the collaboration agreements, due to the scientific uncertainty of achieving the milestones or the successful commercialization of a product. As of June 30, 2023, Immatics had not received any milestone or royalty payments in connection with the collaboration agreements. The Group expects to recognize the remaining deferred revenue balance as revenue as it performs the related performance obligations under each contract. The revenue for the three and six months ended June 30, 2023 from the collaboration agreement with BMS includes the Opt-in cost-to-cost cost-to-cost right-to-use Deferred revenue related to the collaboration agreements consists of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Current 67,997 64,957 Non-current 53,559 75,759 Total 121,556 140,716 Deferred revenues are contract liabilities within the scope of IFRS 15. The Group recognized expenses related to the amortization of capitalized cost of obtaining a contract of €0.1 million and €0.2 million for the three months ended June 30, 2023 and June 30, 2022. The Group recognized expenses related to the amortization of capitalized cost of obtaining a contract of €0.1 million and €0.3 million for the six months ended June 30, 2023 and June 30, 2022.

Financial result

Financial result	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Financial result	6. Financial result Other financial income and financial expenses consist of the following: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Interest income 2,744 69 4,999 75 Foreign currency gains 1,210 6,946 1,749 8,699 Other financial income 3,954 7,015 6,748 8,774 Interest expenses (206 ) (376 ) (401 ) (538 ) Foreign currency losses (805 ) (31 ) (4,119 ) (986 ) Losses on financial instruments (133 ) — (133 ) — Other financial expenses (1,144 ) (407 ) (4,653 ) (1,524 ) Change in fair value of liabilities for warrants (13,105 ) (2,786 ) (5,708 ) 13,743 Financial result (10,295 ) 3,822 (3,613 ) 20,993 Interest income mainly results from short-term deposits as well as cash balances for the three and six months ended June 30, 2023. Interest expenses mainly results from leases. Foreign currency gains and losses mainly consist of realized and unrealized gains and losses in connection with our USD holdings of cash and cash equivalents, short-term deposits as well as bonds. The fair value of the warrants decreased from €2.35 ($2.51) per warrant as of December 31, 2022 to €1.32 ($1.44) as of March 31, 2023 and increased to €3.15 ($3.42) as of June 30, 2023. The result is an increase in fair value of warrant liabilities of €13.1 million for the three months ended June 30, 2023 and an increase in fair value of warrant liabilities of €5.7 million for the six months ended June 30, 2023. The fair value of the warrants decreased from €3.88 ($4.39) per warrant as of December 31, 2021 to €1.58 ($1.75) as of March 31, 2022 and increased to €1.96 ($2.04) as of June 30, 2022. The result is an increase in fair value of warrant liabilities of €2.8 million for the three months ended June 30, 2022 and a decrease in fair value of warrant liabilities of €13.7 million for the six months ended June 30, 2022.

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Income Tax	7. Income Tax During the three and six months ended June 30, 2023, the Group generated a net loss. The Group correspondingly recognized no income tax expense and no equivalent current tax liability for the three and six months ended June 30, 2023. During the three months ended March 31, 2022, the Group generated a net income due to the recognition of revenue in connection with the license component of the BMS collaboration agreement on IMA401. This one-time The deferred tax liability arising from the temporary difference related to delayed revenue recognition under German tax accounting is offset by deferred tax assets on tax losses carried forward that were previously not capitalized due to the Groups expectation of generating taxable losses in the foreseeable future. During the three and six months ended June 30, 2023 and 2022, the Group’s German operations were subject to a statutory tax rate of 28.5% and the Group´s U.S. operations were subject to a federal corporate income tax rate of 21%. For Immatics GmbH, the Group recognized an income tax expense and an equivalent current tax liability in the amount of €1.2 million for the three and six months ended June 30, 2022. The income tax expense is calculated based on taxable income of Immatics GmbH for the three and six months ended June 30, 2022 and does not take into account potential income or loss of the following quarters. The Group applied the estimated effective tax rate for As the profit generated in the three and six months ended June 30, 2022, is considered a one-time The Group continued to generate losses for all entities within the Group during the three and six months ended June 30, 2023 as well as for all entities apart from Immatics GmbH during the three and six months ended June 30, 2022. Due to changes in ownership in prior periods, there are certain limitations on tax losses carried forward for net operating losses incurred by Immatics US, Inc., under Section 382 of the U.S. Internal Revenue Code.

Share-based payments

Share-based payments	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Share-based payments	8. Share-based payments Immatics N.V. has two share-based payment plans. In June 2020, Immatics N.V. established an initial equity incentive plan (“2020 Equity Plan”). At the Annual General Meeting on June 13, 2022, Immatics´s shareholders approved the Company’s 2022 stock option and incentive plan (“2022 Equity Plan”). The 2022 Equity Plan allows the company to grant additional options, other than that, it does not materially differ from the 2020 Equity Plan. Immatics GmbH previously issued share-based awards to employees under two different plans. Under the GmbH Stock Appreciation Program 2010 (the “2010 Plan”), the Company issued stock appreciation rights (“SARs”), which the Group accounted for as cash-settled awards. Under the Immatics Biotechnologies 2016 Equity Incentive Plan (“2016 Plan”), the Company issued tandem awards, which contained the possibility to function as either a SAR or a stock option. The Group accounted for awards issued under the 2016 Plan, which were redeemable in either cash or equity shares at the Group’s discretion, as equity settled. As part of the ARYA Merger, all outstanding awards under the 2010 Plan and 2016 Plan were replaced by a combination of cash payments and share-based awards under the 2020 Equity Plan in Immatics N.V. Under the 2020 Plan, management and employees have been granted different types of options, all of which are equity-settled transactions. As part of the replacement, active employees and management members received stock options (“Matching Stock Options”) to acquire shares in Immatics N.V. The Matching Stock Options have an exercise price of $10.00 and vested fully on July 31, 2021. The awards have a ten-year Matching Stock Options outstanding as of June 30, 2023: 2023 Weighted average Number Matching Stock Options outstanding on January 1, 10.00 1,348,004 Matching Stock Options forfeited — — Matching Stock Options exercised 10.00 720 Matching Stock Options expired 10.00 4,280 Matching Stock Options outstanding on June 30, 10.00 1,343,004 Matching Stock Options exercisable on June 30, 10.00 1,343,004 Weighted average remaining contract life (years) 7.01 For any outstanding 2016 Plan and 2010 Plan awards scheduled to vest on or after January 1, 2021, employees received replacement stock options (“Converted Options”) to acquire shares in Immatics N.V. The Converted Options have comparable terms to previous awards, with revised exercise prices reflecting the reorganized capital structure of Immatics. The options granted under the 2020 Equity Plan that gives employees the right to acquire shares in Immatics N.V., are accounted for as a modification under IFRS 2, with the incremental fair value expensed over the remaining vesting period. The incremental fair value is the difference between the fair value of the options to purchase ordinary shares under the 2020 Equity Plan to acquire shares in Immatics N.V., and the fair value of the exchanged unvested SAR (both measured at the date on which the replacement award is issued). Converted Options outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number Converted Options outstanding on January 1, 2.74 525,181 Converted Options forfeited 1.14 909 Converted Options exercised 1.28 11,341 Converted Options expired 1.17 8 Converted Options outstanding on June 30, 2.78 512,923 Converted Options exercisable on June 30, 2.78 469,161 Weighted average remaining contract life (years) 4.51 Under the 2020 Plan and the 2022 Plan, Immatics also issues employee stock options with a service requirement (“Service Options”), to acquire shares of Immatics N.V. The service-based options for employees including management will vest on a four-year time-based vesting schedule. Under the 2022 Plan, annual service options for members of the Board of Directors will vest entirely after one year. Service Options are granted on a recurring basis. The Company granted Service Options on April 3, 2023 and on June 27, 2023, which were accounted for using the respective grant date fair value. Immatics applied a Black Scholes pricing model to estimate the fair value of the Service Options, with a weighted average fair value of $6.97 for Service Options granted during the six months ended June 30, 2023. As of As of Exercise price in USD $ 6.89 $ 11.41 Underlying share price in USD $ 6.89 $ 11.41 Volatility 84.84 % 86.76 % Time period (years) 6.11 5.74 Risk free rate 3.47 % 3.94 % Dividend yield 0.00 % 0.00 % Service Options outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number Service Options outstanding on January 1, 10.07 6,129,160 Service Options granted in 2023 9.48 506,163 Service Options forfeited 9.80 145,494 Service Options exercised 9.51 2,707 Service Options expired 10.75 17,825 Service Options outstanding on June 30, 10.02 6,469,297 Service Options exercisable on June 30, 10.07 2,135,617 Weighted average remaining contract life (years) 8.57 In addition, after the closing of the ARYA Merger certain executive officers and key personnel of the Group received under the 2020 Equity Plan performance-based options (“PSUs”), vesting based on both the achievement of market capitalization milestones and satisfaction of a four-year time-based vesting schedule. The PSUs are split into three equal tranches. The performance criteria for each of the three respective tranches requires Immatics to achieve a market capitalization of at least $1.5 billion, $2 billion and $3 billion, respectively. A Monte-Carlo simulation model has been used to measure the fair value at grant date of the PSUs. This model incorporates the impact of the performance criteria regarding market capitalization in the calculation of the award’s fair value at grant date. PSUs outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number PSUs outstanding on January 1, 10.08 3,666,000 PSUs granted in 2023 — — PSUs forfeited 10.00 12,000 PSUs outstanding on June 30, 10.08 3,654,000 PSUs exercisable on June 30, — — Weighted average remaining contract life (years) 7.05 The Group recognized total employee-related share-based compensation expenses from all plans, during the three and six months ended June 30, 2023 and 2022 as set out below: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Research and development expenses (3,282 ) (3,107 ) (6,815 ) (6,375 ) General and administrative expenses (2,231 ) (2,453 ) (4,800 ) (4,887 ) Total (5,513 ) (5,560 ) (11,615 ) (11,262 )

Other current and non-current a

Other current and non-current assets	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Other current and non-current assets	9. Other current and non-current Other current assets consist of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Prepaid expenses 9,546 10,450 Value added tax receivables 1,605 1,031 Other assets 5,517 2,357 Total 16,668 13,838 Prepaid expenses include expenses for licenses and software of €6.7 million as of June 30, 2023 and €7.4 million as of December 31, 2022 and prepaid insurance expenses of €0.2 million as of June 30, 2023 and €1.2 million as of December 31, 2022. The Group accrued €0.3 million as of June 30, 2023 and €0.4 million as of December 31, 2022 of incremental cost for the successful arrangement of the BMS collaboration signed in 2019 and the Genmab collaboration agreement. Additionally, prepaid expenses include expenses for maintenance of €0.7 million as of June 30, 2023 and €0.7 million as of December 31, 2022. The remaining amount is mainly related to prepaid expenses for contract research organizations and travel expenses. Other assets include receivables from lease incentive, capital gains tax and prepaid deposit expenses. Other non-current As of June 30, 2023 December 31, 2022 (Euros in thousands) Prepaid expenses 1,365 1,906 Other assets 607 639 Total 1,972 2,545 Prepaid expenses include the non-current non-current

Property, plant and equipment,

Property, plant and equipment, intangible assets and Right-of-use assets	6 Months Ended
	Jun. 30, 2023
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Property, plant and equipment, intangible assets and Right-of-use assets	10. Property, plant and equipment, intangible assets and Right-of-use During the three months ended June 30, 2023 and June 30, 2022, the Group acquired property, plant and equ ip During the six months ended June 30, 2023 and June 30, 2022, the Group acquired property, plant and equipment and intangible assets in the amount of €15.7 million and €2.2 million, respectively. The Group’s additions include leasehold improvements for the research and commercial GMP manufacturing facility construction in Houston, Texas of €9.8 million for the six months ended June 30, 2023. During the six months ended June 30, 2023, a new office space in Tübingen, Germany, lease term extensions and rent increases to existing lease agreements resulted in an addition in right-of-use

Provisions

Provisions	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Provisions	11. Provisions Provisions consist of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Provision for bonuses 3,117 — Total 3,117 — These amounts include provisions for the Group’s annual employee bonuses.

Accounts payables

Accounts payables	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Accounts payables	12. Accounts payables Accounts payables consist of the following: As of June 30, December 31, (Euros in thousands) Accounts payables 5,473 4,025 Accrued liabilities 14,431 9,031 Total 19,904 13,056

Other current liabilities

Other current liabilities	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Other current liabilities	13. Other current liabilities Other current liabilities consist of the following: As of June 30, December 31, (Euros in thousands) Income tax liability 4,298 4,298 Payroll tax 1,840 3,426 Accrual for vacation 1,400 806 Accrued bonuses — 680 Other liabilities 391 156 Total 7,929 9,366 Other current liabilities are non-interest-bearing

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Shareholders' equity	14. Shareholders’ equity As of June 30, 2023 and December 31, 2022, the total number of ordinary shares of Immatics N.V. outstanding is 80,397,851 and 76,670,699 with a par value of €0.01, respectively. During the three months ended June 30, 2023, the Group issued 3.7 million shares under the ATM agreement with SVB Securities LLC and collected a gross amount of €38.6 million less transaction costs of €1.2 million, resulting in an increase in share capital of €37 thousand and share premium of €37.4 million. Additionally, the number of ordinary shares increased during the six months ended June 30, 2023, due to exercised share options Other reserves are related to accumulated foreign currency translation amounts associated with the Group’s U.S. operations.

Related party disclosures

Related party disclosures	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Related party disclosures	15. Related party disclosures During the three and six months ended June 30, 2023, the Group did not enter into any new related-party transactions with its key management personnel or with related entities other than the granting of a total of 175,000 Service options to its Board of Directors for the three and

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Financial Instruments	16. Financial Instruments Set out below are the carrying amounts and fair values of the Group’s financial instruments that are carried in the interim condensed consolidated financial statements. Carrying amount per measurement category Financial assets Financial liabilities Euros in thousands At fair value and loss At amortized At fair value At amortized June 30, 2023 Current/non-current Cash and cash equivalents — 130,405 — — 130,405 Short-term deposits* — 217,222 — — 217,222 Bonds* — — — — — Accounts receivables — 330 — — 330 Other current/non-current — 5,158 — — 5,158 Current/non-current Accounts payable — — — 19,212 19,212 Other current liabilities — — — 58 58 Liabilities for warrants — — 22,622 — 22,622 Lease liabilities — — — 16,822 16,822 Total — 353,115 22,622 36,092 — Carrying amount per measurement category Financial assets Financial liabilities Euros in thousands At fair value At amortized At fair value At amortized December 31, 2022 Current/non-current Cash and cash equivalents — 148,519 — — 148,519 Short-term deposits* — 154,930 — — 154,930 Bonds* — 58,756 — — 58,756 Accounts receivables — 1,111 — — 1,111 Other current/non-current — 2,402 — — 2,402 Current/non-current Accounts payable — — — 11,735 11,735 Other current liabilities — — — 54 54 Liabilities for warrants — — 16,914 — 16,914 Lease liabilities — — — 14,563 14,563 Total — 365,718 16,914 26,352 — * “Short-term deposits” and “Bonds” are classified within the balance sheet item “Other financial assets” In all valuation categories with the exception of Bonds, the carrying amount represents a reasonable approximation of the fair value based on the short-term maturities of these instruments. Set out below are the carrying amounts and fair values of the Group’s Bonds as of June 30, 2023 and December 31, 2022. The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. As of June 30, 2023 December 31, 2022 Euros in thousands Carrying Fair value Carrying Fair value Bonds — — 58,756 58,300 Total — — 58,756 58,300 The following methods and assumptions were used to estimate the fair values: All financial assets are categorized based on Level 1 inputs and are therefore valued using quoted (unadjusted) market prices. All financial liabilities are also categorized based on Level 1 inputs. The bonds’ contractual cash flows represent solely payments of principal and interest and Immatics intends to hold the bonds to collect the contractual cash flows. The Group therefore accounts for the bonds as a financial asset at amortized cost. Bonds are classified as Level 1 of the fair value hierarchy, as they are listed on publicly traded markets. Liabilities for warrants are comprised of the Immatics Warrants issued to investors with a cashless exercise mechanism as a current liability which the Company accounted for according to provisions of IAS 32. The Company measures the warrants at fair value by using the closing price of warrants at Nasdaq. The warrants are measured in each reporting period. Changes in the fair value are recognized in the Company’s Consolidated Statement of Profit/(Loss) as financial income or expenses, as appropriate. The warrants are classified as Level 1 of the fair value hierarchy. The maturity of the liabilities for warrants is dependent on the development of the share price as well as the decisions by the Immatics Warrants holders.

Earnings and Loss per Share

Earnings and Loss per Share	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Earnings and Loss per Share	17. Earnings and Loss per Share The Group reported basic and diluted loss and earnings per share during the three and six months ended June 30, 2023 and 2022. Basic and diluted loss per share and basic earnings per share are calculated by dividing the net profit or loss by the weighted-average number of ordinary shares outstanding for the reporting period. Diluted earnings per share for the six months ended June 30, 2022, are calculated by adjusting the weighted-average number of ordinary shares outstanding for any dilutive effects resulting from equity awards granted to the Board and employees of the Group as well as from publicly traded Immatics Warrants. The Group’s equity awards and Immatics Warrants for which the exercise price is exceeding the Group’s weighted average share price for the six months ended June 30, 2022, are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares. The Group was loss-making during the three and six months ended June 30, 2023 and during the three months ended June 30, 2022, therefore all instruments are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares outstanding, including the outstanding equity awards and the 7,187,500 Immatics Warrants issued in 2020 and outstanding as of June 30, 2023. Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands, except share and per share data) (Euros in thousands, except share and per share data) Net profit/(loss): (24,610 ) (13,980 ) (44,357 ) 71,682 Basic (0.32 ) (0.22 ) (0.58 ) 1.12 Diluted (0.32 ) (0.22 ) (0.58 ) 1.11 Weighted average shares outstanding: Basic 77,311,053 64,915,600 76,994,713 63,932,449 Diluted 77,311,053 64,915,600 76,994,713 64,477,256

Events occurring after the repo

Events occurring after the reporting period	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Events occurring after the reporting period	18. Events occurring after the reporting period The Group evaluated subsequent events for recognition or disclosure through August 17, 2023. On July 19, 2023, the Group closed a private placement transaction of 2,419,818 ordinary shares with a subscription price of $14.46 per ordinary share with BMS. The Group received gross proceeds of approximately $35 million, before deducting transaction expenses and intends to use the net proceeds to fund the continued research and development of the Group’s After the reporting period, the Group issued 1.8 million shares under the ATM agreement with SVB Securities LLC and collected a gross amount of €20.4 million ($22.2 million).

Significant accounting polici_2

Significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Basis of presentation	Basis of presentation The interim condensed consolidated financial statements of the Group as of June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 have been prepared on a going concern basis in accordance with International Accounting Standard 34 (“Interim Financial Reporting”), as issued by the International Accounting Standards Board (“IASB”) and have not been audited or reviewed by a statutory auditor. In accordance with IAS 34, the interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2022, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRS IC”). In these condensed notes to the consolidated financial statements, information is provided primarily on the items for which there have been significant changes compared with the consolidated financial statements of the Group for fiscal year 2022. The interim condensed consolidated financial statements are presented in Euros. Amounts are stated in thousands of Euros, unless otherwise indicated. For technical reasons, the information provided in these financial statements may contain rounding differences of +/- one unit. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2022. The new and amended standards and interpretations applicable for the first time as of January 1, 2023, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2022, had no impact on the interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2023. Estimates and assumptions have to be made in the interim consolidated financial statements as of June 30, 2023. These have an impact on the amount and disclosure of the recognized assets and liabilities, income and expenses, and contingent liabilities. The estimates and judgments are basically unchanged from the circumstances described in the consolidated financial statements of the Group for the fiscal year 2022. Developments deviating from this may result in the amounts that arise deviating from the original estimates. These possible developments are outside the sphere of influence of the management.
Revision of previously issued financial statements	Revision of previously issued financial statements During the preparation of the unaudited interim consolidated financial statements for the three and nine months ended September 30, 2022, the Group identified an error in the presentation of ‘Net foreign exchange differences’ and ‘Effects of exchange rate changes on cash and cash equivalents’ in the statement of cash flows. The error resulted in a presentation of effects from exchange rate changes on non-functional non-cash This error had no impact on the Company’s consolidated statements of financial position, of profit/(loss), of comprehensive income/(loss) and of consolidated statements of changes in equity. The Company assessed the materiality of these errors on the previously issued consolidated financial statements and concluded that the errors were not material to any period presented. The impact of the revision of the previously issued financial statements is as follows: Six months ended June 30, 2022 As reported Adjustment As revised Net foreign exchange differences and expected credit losses 115 (7,949 ) (7,834 ) Net cash provided by/(used in) operating activities 163,722 (7,949 ) 155,773 Net cash (used in)/provided by investing activities (48,528 ) — (48,528 ) Net cash (used in)/provided by financing activities 15,203 — 15,203 Net increase/(decrease) in cash and cash equivalents 130,397 (7,949 ) 122,448 Cash and cash equivalents at beginning of period 132,994 — 132,994 Effects of exchange rate changes on cash and cash equivalents 1,734 7,949 9,683 Cash and cash equivalents at end of period 265,125 — 265,125

Significant accounting polici_3

Significant accounting policies (Table)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of impact revision to previously issued financial statements	The impact of the revision of the previously issued financial statements is as follows: Six months ended June 30, 2022 As reported Adjustment As revised Net foreign exchange differences and expected credit losses 115 (7,949 ) (7,834 ) Net cash provided by/(used in) operating activities 163,722 (7,949 ) 155,773 Net cash (used in)/provided by investing activities (48,528 ) — (48,528 ) Net cash (used in)/provided by financing activities 15,203 — 15,203 Net increase/(decrease) in cash and cash equivalents 130,397 (7,949 ) 122,448 Cash and cash equivalents at beginning of period 132,994 — 132,994 Effects of exchange rate changes on cash and cash equivalents 1,734 7,949 9,683 Cash and cash equivalents at end of period 265,125 — 265,125

Revenue from collaboration ag_2

Revenue from collaboration agreements (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of Deferred revenue related to the collaboration agreements	Deferred revenue related to the collaboration agreements consists of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Current 67,997 64,957 Non-current 53,559 75,759 Total 121,556 140,716
Summary of revenue from collaboration agreements explanatory	Revenue from collaboration agreements were realized with the following partners: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Genmab, Denmark 915 4,125 215 7,044 BMS, United States 21,439 12,107 31,935 110,532 GSK, United Kingdom — 983 — 2,547 Total 22,354 17,215 32,150 120,123

Financial result (Tables)

Financial result (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of other financial income and financial expenses	Other financial income and financial expenses consist of the following: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Interest income 2,744 69 4,999 75 Foreign currency gains 1,210 6,946 1,749 8,699 Other financial income 3,954 7,015 6,748 8,774 Interest expenses (206 ) (376 ) (401 ) (538 ) Foreign currency losses (805 ) (31 ) (4,119 ) (986 ) Losses on financial instruments (133 ) — (133 ) — Other financial expenses (1,144 ) (407 ) (4,653 ) (1,524 ) Change in fair value of liabilities for warrants (13,105 ) (2,786 ) (5,708 ) 13,743 Financial result (10,295 ) 3,822 (3,613 ) 20,993

Share-based payments (Tables)

Share-based payments (Tables)	6 Months Ended
	Jun. 30, 2023
Statements [Line Items]
Summary of Employee Related Share Based Compensation Expense	The Group recognized total employee-related share-based compensation expenses from all plans, during the three and six months ended June 30, 2023 and 2022 as set out below: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands) (Euros in thousands) Research and development expenses (3,282 ) (3,107 ) (6,815 ) (6,375 ) General and administrative expenses (2,231 ) (2,453 ) (4,800 ) (4,887 ) Total (5,513 ) (5,560 ) (11,615 ) (11,262 )
Matching Stock Options [Member]
Statements [Line Items]
Summary of Employee Share Options	Matching Stock Options outstanding as of June 30, 2023: 2023 Weighted average Number Matching Stock Options outstanding on January 1, 10.00 1,348,004 Matching Stock Options forfeited — — Matching Stock Options exercised 10.00 720 Matching Stock Options expired 10.00 4,280 Matching Stock Options outstanding on June 30, 10.00 1,343,004 Matching Stock Options exercisable on June 30, 10.00 1,343,004 Weighted average remaining contract life (years) 7.01
Converted Options [Member]
Statements [Line Items]
Summary of Employee Share Options	Converted Options outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number Converted Options outstanding on January 1, 2.74 525,181 Converted Options forfeited 1.14 909 Converted Options exercised 1.28 11,341 Converted Options expired 1.17 8 Converted Options outstanding on June 30, 2.78 512,923 Converted Options exercisable on June 30, 2.78 469,161 Weighted average remaining contract life (years) 4.51
Additional Grants Under 2020 Plan [Member]
Statements [Line Items]
Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model	Immatics applied a Black Scholes pricing model to estimate the fair value of the Service Options As of As of Exercise price in USD $ 6.89 $ 11.41 Underlying share price in USD $ 6.89 $ 11.41 Volatility 84.84 % 86.76 % Time period (years) 6.11 5.74 Risk free rate 3.47 % 3.94 % Dividend yield 0.00 % 0.00 %
Summary of Employee Share Options	Service Options outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number Service Options outstanding on January 1, 10.07 6,129,160 Service Options granted in 2023 9.48 506,163 Service Options forfeited 9.80 145,494 Service Options exercised 9.51 2,707 Service Options expired 10.75 17,825 Service Options outstanding on June 30, 10.02 6,469,297 Service Options exercisable on June 30, 10.07 2,135,617 Weighted average remaining contract life (years) 8.57
Performance Based Options [Member]
Statements [Line Items]
Summary of Employee Share Options	PSUs outstanding as of June 30, 2023: 2023 Weighted average exercise price in USD Number PSUs outstanding on January 1, 10.08 3,666,000 PSUs granted in 2023 — — PSUs forfeited 10.00 12,000 PSUs outstanding on June 30, 10.08 3,654,000 PSUs exercisable on June 30, — — Weighted average remaining contract life (years) 7.05

Other current and non-current_2

Other current and non-current assets (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of Other current assets	Other current assets consist of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Prepaid expenses 9,546 10,450 Value added tax receivables 1,605 1,031 Other assets 5,517 2,357 Total 16,668 13,838
Summary of Other non-current assets	Other non-current As of June 30, 2023 December 31, 2022 (Euros in thousands) Prepaid expenses 1,365 1,906 Other assets 607 639 Total 1,972 2,545

Provisions (Tables)

Provisions (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of provisions	Provisions consist of the following: As of June 30, 2023 December 31, 2022 (Euros in thousands) Provision for bonuses 3,117 — Total 3,117 —

Accounts payable (Tables)

Accounts payable (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of Accounts Payable	Accounts payables consist of the following: As of June 30, December 31, (Euros in thousands) Accounts payables 5,473 4,025 Accrued liabilities 14,431 9,031 Total 19,904 13,056

Other current liabilities (Tabl

Other current liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of other current liabilities	Other current liabilities consist of the following: As of June 30, December 31, (Euros in thousands) Income tax liability 4,298 4,298 Payroll tax 1,840 3,426 Accrual for vacation 1,400 806 Accrued bonuses — 680 Other liabilities 391 156 Total 7,929 9,366

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of Carrying Amounts and Fair values of Group's Financial Instruments	Set out below are the carrying amounts and fair values of the Group’s financial instruments that are carried in the interim condensed consolidated financial statements. Carrying amount per measurement category Financial assets Financial liabilities Euros in thousands At fair value and loss At amortized At fair value At amortized June 30, 2023 Current/non-current Cash and cash equivalents — 130,405 — — 130,405 Short-term deposits* — 217,222 — — 217,222 Bonds* — — — — — Accounts receivables — 330 — — 330 Other current/non-current — 5,158 — — 5,158 Current/non-current Accounts payable — — — 19,212 19,212 Other current liabilities — — — 58 58 Liabilities for warrants — — 22,622 — 22,622 Lease liabilities — — — 16,822 16,822 Total — 353,115 22,622 36,092 — Carrying amount per measurement category Financial assets Financial liabilities Euros in thousands At fair value At amortized At fair value At amortized December 31, 2022 Current/non-current Cash and cash equivalents — 148,519 — — 148,519 Short-term deposits* — 154,930 — — 154,930 Bonds* — 58,756 — — 58,756 Accounts receivables — 1,111 — — 1,111 Other current/non-current — 2,402 — — 2,402 Current/non-current Accounts payable — — — 11,735 11,735 Other current liabilities — — — 54 54 Liabilities for warrants — — 16,914 — 16,914 Lease liabilities — — — 14,563 14,563 Total — 365,718 16,914 26,352 — * “Short-term deposits” and “Bonds” are classified within the balance sheet item “Other financial assets” In all valuation categories with the exception of Bonds, the carrying amount represents a reasonable approximation of the fair value based on the short-term maturities of these instruments. Set out below are the carrying amounts and fair values of the Group’s Bonds as of June 30, 2023 and December 31, 2022. The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. As of June 30, 2023 December 31, 2022 Euros in thousands Carrying Fair value Carrying Fair value Bonds — — 58,756 58,300 Total — — 58,756 58,300

Earnings and Loss per Share (Ta

Earnings and Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings per share [abstract]
Summary of Earnings and loss per share	Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (Euros in thousands, except share and per share data) (Euros in thousands, except share and per share data) Net profit/(loss): (24,610 ) (13,980 ) (44,357 ) 71,682 Basic (0.32 ) (0.22 ) (0.58 ) 1.12 Diluted (0.32 ) (0.22 ) (0.58 ) 1.11 Weighted average shares outstanding: Basic 77,311,053 64,915,600 76,994,713 63,932,449 Diluted 77,311,053 64,915,600 76,994,713 64,477,256

Group information - Additional

Group information - Additional Information (Detail)		3 Months Ended	6 Months Ended
	Aug. 17, 2023	Jun. 30, 2023	Jun. 30, 2023
Disclosure of non-adjusting events after reporting period [line items]
Date of end of reporting period		Jun. 30, 2023	Jun. 30, 2023
Authorization Of Financial Statements [Member]
Disclosure of non-adjusting events after reporting period [line items]
Date of authorisation for issue of financial statements	Aug. 17, 2023

Significant events and change_2

Significant events and changes in the current reporting period - Additional Information (Detail) € in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)
Disclosure Of Changes In Accounting Policies Accounting Estimates And Errors [Line Items]
Proceeds from contractual option exercised		$ 15	€ 13.7
BMS Opt In Agreement [Member]
Disclosure Of Changes In Accounting Policies Accounting Estimates And Errors [Line Items]
Revenue from contracts with customers	€ 13.7		€ 13.7

Significant accounting polici_4

Significant accounting policies - Summary of impact revision to previously issued financial statements (Detail) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Net foreign exchange differences and expected credit losses	€ 4,081	€ (7,834)
Net cash provided by/(used in) operating activities	(30,323)	155,773
Net cash provided by/(used in) investing activities	(20,555)	(48,528)
Net cash (used in)/provided by financing activities	35,585	15,203
Net increase/(decrease) in cash and cash equivalents	(15,293)	122,448
Cash and cash equivalents at beginning	148,519	132,994
Effects of exchange rate changes on cash and cash equivalents	(2,821)	9,683
Cash and cash equivalents at end	€ 130,405	265,125
As reported
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Net foreign exchange differences and expected credit losses		115
Net cash provided by/(used in) operating activities		163,722
Net cash provided by/(used in) investing activities		(48,528)
Net cash (used in)/provided by financing activities		15,203
Net increase/(decrease) in cash and cash equivalents		130,397
Cash and cash equivalents at beginning		132,994
Effects of exchange rate changes on cash and cash equivalents		1,734
Cash and cash equivalents at end		265,125
Adjustment
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Net foreign exchange differences and expected credit losses		(7,949)
Net cash provided by/(used in) operating activities		(7,949)
Net cash provided by/(used in) investing activities		0
Net cash (used in)/provided by financing activities		0
Net increase/(decrease) in cash and cash equivalents		(7,949)
Cash and cash equivalents at beginning		0
Effects of exchange rate changes on cash and cash equivalents		7,949
Cash and cash equivalents at end		0
As revised
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Net foreign exchange differences and expected credit losses		(7,834)
Net cash provided by/(used in) operating activities		155,773
Net cash provided by/(used in) investing activities		(48,528)
Net cash (used in)/provided by financing activities		15,203
Net increase/(decrease) in cash and cash equivalents		122,448
Cash and cash equivalents at beginning		132,994
Effects of exchange rate changes on cash and cash equivalents		9,683
Cash and cash equivalents at end		€ 265,125

Revenue from collaboration ag_3

Revenue from collaboration agreements - Additional Information (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Revenue From Contract With Customers [Line Items]
Amortization of contract costs capitalized	€ 100	€ 200	€ 100	€ 300
Receipt of upfront of payment	22,354	€ 17,215	32,150	€ 120,123
BMS Collaboration Agreement [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Proceeds from option exercise fee under collaborative arrangement	13,700		13,700
BMS Collaboration Agreement [Member] | IMA401 [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Receipt of upfront of payment			91,300
Collaboration Agreement [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Milestone or royalty payment receivable	€ 0		€ 0

Revenue from collaboration ag_4

Revenue from collaboration agreements - Summary of revenue from collaboration agreements (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	€ 22,354	€ 17,215	€ 32,150	€ 120,123
Total
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	22,354	17,215	32,150	120,123
Denmark | Genmab
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	915	4,125	215	7,044
United States | BMS
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	21,439	12,107	31,935	110,532
United Kingdom | GSK
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	€ 0	€ 983	€ 0	€ 2,547

Revenue from collaboration ag_5

Revenue from collaboration agreements - Summary of Deferred revenue related to the collaboration agreements (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue [abstract]
Current	€ 67,997	€ 64,957
Non-current	53,559	75,759
Total	€ 121,556	€ 140,716

Financial result - Summary of o

Financial result - Summary of other financial income and financial expenses (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Detailed Information About Finance Income Expense [Abstract]
Interest income	€ 2,744	€ 69	€ 4,999	€ 75
Foreign currency gains	1,210	6,946	1,749	8,699
Other financial income	3,954	7,015	6,748	8,774
Interest expenses	(206)	(376)	(401)	(538)
Foreign currency losses	(805)	(31)	(4,119)	(986)
Losses on other financial instruments	(133)	0	(133)	0
Other financial expenses	(1,144)	(407)	(4,653)	(1,524)
Change in fair value of liabilities for warrants	(13,105)	(2,786)	(5,708)	13,743
Finance income (cost)	€ (10,295)	€ 3,822	€ (3,613)	€ 20,993

Financial result - Additional I

Financial result - Additional Information (Detail) € / shares in Units, € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 EUR (€) € / shares	Jun. 30, 2022 EUR (€) € / shares	Jun. 30, 2023 EUR (€) € / shares	Jun. 30, 2022 EUR (€) € / shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 € / shares	Mar. 31, 2023 $ / shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 € / shares	Mar. 31, 2022 $ / shares
Statements [Line Items]
Change in fair value of warrant liabilities	€ (13,105)	€ (2,786)	€ (5,708)	€ 13,743
Top of range [member]
Statements [Line Items]
Exercise Price of Warrants or Rights | (per share)	€ 3.15	€ 1.96	€ 3.15	€ 1.96	$ 3.42			$ 2.04
Bottom of range [member]
Statements [Line Items]
Exercise Price of Warrants or Rights | (per share)						€ 1.32	$ 1.44		€ 1.58	$ 1.75

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Statements [Line Items]
Statutory tax rate	28.50%	28.50%	28.50%	28.50%
Corporate income tax rate	21%	21%	21%	21%
Current tax liabilities	€ 4,298		€ 4,298		€ 4,298
GERMANY | Immatics Biotechnologies GmbH [Member]
Statements [Line Items]
Percentage Of Income That Can Be Used To Set Off Tax Losses Carry Forward		60%
Percentage Of Pretax Income Subject To Income Tax		40%
Current tax liabilities		€ 1,200		€ 1,200

Share-based payments - Summary

Share-based payments - Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model (Detail) - Additional Grants Under 2020 and 2022 Plan [Member]	Jun. 27, 2023 yr $ / shares	Apr. 03, 2023 yr $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 11.41	$ 6.89
Underlying share price	$ 11.41	$ 6.89
Volatility	86.76%	84.84%
Time period (years) | yr	5.74	6.11
Risk free rate	3.94%	3.47%
Dividend yield	0%	0%

Share-based payments - Summar_2

Share-based payments - Summary of Employee Share Options (Detail)	6 Months Ended
	Jun. 30, 2023 Warrants shares $ / shares
Performance Based Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1,	$ 10.08
SARs forfeited	10
Weighted average exercise price, Outstanding at June 30,	10.08
SARs exercisable	$ 0
Number of share options, outstanding at January 1, | shares	3,666,000
SARs forfeited | shares	12,000
Number of share options, outstanding at June 30, | shares	3,654,000
SARs exercisable | shares	0
Weighted average remaining contract life (years)	7 years 18 days
Performance Based Options [Member] | Granted On September 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
SARs granted	$ 0
SARs granted | shares	0
Additional Grants Under 2020 and 2022 Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1,	$ 10.07
SARs forfeited	9.8
SARs exercised	9.51
SARs expired	10.75
Weighted average exercise price, Outstanding at June 30,	10.02
SARs exercisable	$ 10.07
Number of share options, outstanding at January 1, | Warrants	6,129,160
SARs forfeited | shares	145,494
SARs exercised | Warrants	2,707
SARs expired | shares	17,825
Number of share options, outstanding at June 30, | shares	6,469,297
SARs exercisable | shares	2,135,617
Weighted average remaining contract life (years)	8 years 6 months 25 days
Additional Grants Under 2020 and 2022 Plan [Member] | Granted On March 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
SARs granted	$ 9.48
SARs granted | Warrants	506,163
Converted Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1,	$ 2.74
SARs exercised	1.28
SARs expired	1.17
Weighted average exercise price, Outstanding at June 30,	2.78
SARs exercisable	$ 2.78
Number of share options, outstanding at January 1, | Warrants	525,181
SARs exercised | shares	11,341
SARs expired | shares	8
Number of share options, outstanding at June 30, | shares	512,923
SARs exercisable | shares	469,161
Weighted average remaining contract life (years)	4 years 6 months 3 days
Converted Options [Member] | Granted On June 2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
SARs forfeited	$ 1.14
SARs forfeited | shares	909
Matching Stock Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1,	$ 10
SARs forfeited	0
SARs exercised	10
SARs expired	10
Weighted average exercise price, Outstanding at June 30,	10
SARs exercisable	$ 10
Number of share options, outstanding at January 1, | Warrants	1,348,004
SARs forfeited | shares	0
SARs exercised | Warrants	720
SARs expired | shares	4,280
Number of share options, outstanding at June 30, | shares	1,343,004
SARs exercisable | shares	1,343,004
Weighted average remaining contract life (years)	7 years 3 days

Share-based payments - Addition

Share-based payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Billions			6 Months Ended
	Jun. 27, 2023	Apr. 03, 2023	Jun. 30, 2023
Performance Based Options [Member] | Tranche One [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization			$ 1.5
Performance Based Options [Member] | Tranche Two [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization			2
Performance Based Options [Member] | Tranche Three [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization			$ 3
Additional Grants Under 2020 Plan [Member] | Granted On June 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement fair value per share	$ 6.97	$ 6.97
Converted Options [Member] | Granted On June 2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment equity instruments other than shares vesting period			one year
Matching Stock Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement exercise price per share granted			$ 10
Share based compensation by share based payment arrangement term of stock options			ten-year
Date of vesting of stock options			Jul. 31, 2021

Share-based payments - Summar_3

Share-based payments - Summary of Employee Related Share Based Compensation Expense (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	€ (5,513)	€ (5,560)	€ (11,615)	€ (11,262)
Research And Development Expense [Member]
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	(3,282)	(3,107)	(6,815)	(6,375)
General And Administrative Expense [Member]
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	€ (2,231)	€ (2,453)	€ (4,800)	€ (4,887)

Other current and non-current_3

Other current and non-current assets -Summary of Other current assets (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trade and other receivables [abstract]
Prepaid expenses	€ 9,546	€ 10,450
Value added tax receivables	1,605	1,031
Other assets	5,517	2,357
Total	€ 16,668	€ 13,838

Other current and non-current_4

Other current and non-current assets - Additional Information (Detail) - EUR (€) € in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Disclosure of subsidiaries [line items]
Prepaid insurance expenses	€ 200	€ 1,200
Prepaid expenses of licenses and software	6,700	7,400
Non-current prepayments	1,365	1,906
Current prepaid maintenance expenses	700	700
Noncurrent Prepayments Of Licensing Agreement	1,100	1,500
NonCurrent Prepaid Maintenance Expenses	200	300
Celgene Switzerland LLC And Genmab AS [Member]
Disclosure of subsidiaries [line items]
Current Incremental cost for collaboration agreement	300	400
Non-current prepayments	€ 100	€ 100

Other current and non-current_5

Other current and non-current assets - Summary of Other non-current assets (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trade and other non-current receivables [abstract]
Prepaid expenses	€ 1,365	€ 1,906
Other assets	607	639
Total	€ 1,972	€ 2,545

Property, plant and equipment_2

Property, plant and equipment, intangible assets and Right-of-use assets - Additional Information (Detail) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statements [Line Items]
Purchase of property, plant and equipment	€ 11.6	€ 1.1	€ 15.7	€ 2.2
Leasehold improvements [member]
Statements [Line Items]
Purchase of property, plant and equipment			9.8
Rental Land
Statements [Line Items]
Addition to right-of-use assets			€ 3.8

Provisions - Summary of Provisi

Provisions - Summary of Provisions (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Provisions [abstract]
Provision for bonuses	€ 3,117	€ 0
Total	€ 3,117	€ 0

Accounts payables - Summary of

Accounts payables - Summary of Accounts Payable (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trade and other current payables [abstract]
Accounts payables	€ 5,473	€ 4,025
Accrued liabilities	14,431	9,031
Total	€ 19,904	€ 13,056

Other current liabilities - Sum

Other current liabilities - Summary of other current liabilities (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Disclosure of detailed information about other current liabilities [Line Items]
Income tax liability	€ 4,298	€ 4,298
Payroll tax	1,840	3,426
Accrual for vacation	1,400	806
Accrued bonuses		680
Other liabilities	391	156
Total	€ 7,929	€ 9,366

Other current liabilities - Add

Other current liabilities - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023
Non Interest Bearing Liability [Member]
Disclosure of detailed information about other current liabilities [Line Items]
Borrowings maturity	one year

Shareholders' equity - Addition

Shareholders' equity - Additional Information (Detail) - EUR (€) € / shares in Units, € in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disclosure of classes of share capital [line items]
Gross proceeds from issuance of shares	€ 38,608	€ 17,112
SVB Securities LLC [Member] | At The Market Agreement [Member]
Disclosure of classes of share capital [line items]
Increase decrease in shares outstanding	3,700,000
Gross proceeds from issuance of shares	€ 38,600
Share issuance costs	1,200
Increase in share capital	37
Increase in share premium	€ 37,400
Reorganization [Member]
Disclosure of classes of share capital [line items]
Number of shares outstanding	80,397,851		76,670,699
Par value per share	€ 0.01		€ 0.01

Related party disclosures - Add

Related party disclosures - Additional Information (Detail) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Key Management Personnel And Board Of Directors [Member] | Service Options [Member]
Disclosure of transactions between related parties [line items]
Related party transaction options granted	175,000	175,000

Financial Instruments - Summary

Financial Instruments - Summary of Carrying Amounts and Fair values of Group's Financial Instruments (Detail) - EUR (€) € in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying amount [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount		€ 58,756
At fair value [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount		58,300
Cash and cash equivalents [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	€ 130,405	148,519
Short-Term Deposits [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	217,222	154,930
Bonds [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities		58,756
Bonds [member] | Carrying amount [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount		58,756
Bonds [member] | At fair value [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount		58,300
Accounts receivables [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	330	1,111
Other current/non-current assets [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	5,158	2,402
Accounts payable [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	19,212	11,735
Other current liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	58	54
Liabilities for warrants [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	22,622	16,914
Lease liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets and Financial liabilities	16,822	14,563
Financial liabilities at fair value through profit or loss, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	22,622	16,914
Financial liabilities at fair value through profit or loss, category [member] | Liabilities for warrants [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	22,622	16,914
Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	36,092	26,352
Financial liabilities at amortised cost, category [member] | Accounts payable [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	19,212	11,735
Financial liabilities at amortised cost, category [member] | Other current liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	58	54
Financial liabilities at amortised cost, category [member] | Lease liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	16,822	14,563
Financial assets at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	353,115	365,718
Financial assets at amortised cost, category [member] | Cash and cash equivalents [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	130,405	148,519
Financial assets at amortised cost, category [member] | Short-Term Deposits [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	217,222	154,930
Financial assets at amortised cost, category [member] | Bonds [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount		58,756
Financial assets at amortised cost, category [member] | Accounts receivables [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	330	1,111
Financial assets at amortised cost, category [member] | Other current/non-current assets [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	€ 5,158	€ 2,402

Earnings and Loss per Share - A

Earnings and Loss per Share - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 shares
Text Block [Abstract]
Dilutive effect of share options on number of warrants	7,187,500

Earnings and Loss per Share - S

Earnings and Loss per Share - Summary of Earnings and Loss per Share (Detail) - EUR (€) € / shares in Units, € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings per share [abstract]
Net profit/(loss):	€ (24,610)	€ (13,980)	€ (44,357)	€ 71,682
Basic	€ (0.32)	€ (0.22)	€ (0.58)	€ 1.12
Diluted	€ (0.32)	€ (0.22)	€ (0.58)	€ 1.11
Weighted average shares outstanding:
Basic	77,311,053	64,915,600	76,994,713	63,932,449
Diluted	77,311,053	64,915,600	76,994,713	64,477,256

Events occurring after the re_2

Events occurring after the reporting period - Additional Information (Detail) - Issue Of Securities [Member] $ / shares in Units, € in Millions, $ in Millions	Aug. 17, 2023 USD ($) shares	Aug. 17, 2023 EUR (€) shares	Jul. 19, 2023 USD ($) $ / shares shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued			2,419,818
Share Price | $ / shares			$ 14.46
Proceeds from issue of ordinary shares | $			$ 35
SVB Securities LLC [Member] | At The Market Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued	1,800,000	1,800,000
Gross proceeds from issue of securities	$ 22.2	€ 20.4