The simultaneous positive data across three clinical programs (anzu-cel, IMA203CD8, IMA401) significantly de-risks Immatics' pipeline and supports the broad PRAME franchise thesis. Key catalysts to watch: SUPRAME Phase 3 interim/final analyses in 2026, IMA203CD8 RP2D determination in 2026, and IMA401/IMA402 combo data in 2027. The stock may re-rate as the probability of regulatory approval and commercial launch (targeted 2H 2027) increases.
Price Chart
Executive Summary
Immatics N.V. filed a 6-K on June 1, 2026, reporting updated Phase 1 clinical data for three pipeline candidates presented at ASCO 2026: anzu-cel (IMA203) PRAME cell therapy in advanced melanoma showed 56% cORR, 14.6-month mDOR, 6.1-month mPFS, and 16.2-month mOS; IMA203CD8 PRAME cell therapy in gynecologic cancers showed 63% ORR (50% cORR) at clinically relevant doses with 4 complete responses; and IMA401 MAGEA4/8 bispecific in head and neck cancer showed 29% cORR and 8.8-month mDOR at RP2D. The filing also announced initiation of the IMA401/IMA402 combination cohort in sqNSCLC. These data collectively reinforce the clinical potential of Immatics' PRAME franchise across multiple solid tumor indications.
Key Facts
- Anzu-cel in advanced melanoma (n=33): 56% cORR, 14.6-month mDOR, 6.1-month mPFS, 16.2-month mOS; 42% of patients had deep responses (≥50% tumor reduction) with mPFS of 15.9 months
- IMA203CD8 in gynecologic cancers at clinically relevant doses (n=19): 63% ORR, 50% cORR, including 4 complete responses; 89% of confirmed responses ongoing with longest at 12 months
- IMA203CD8 in synovial sarcoma (n=12): 67% ORR, 64% cORR, including 1 complete response; mDOR 14.8 months at 31-month median follow-up
- IMA401 in head and neck cancer at RP2D (n=14): 29% cORR, 64% DCR, 8.8-month mDOR; 12-month OS rate 63%, 6-month PFS rate 43%
- IMA401/IMA402 combination cohort in sqNSCLC now enrolling; first data expected in 2027
- Phase 3 SUPRAME trial of anzu-cel in cutaneous melanoma ongoing; BLA submission expected 1H 2027, launch 2H 2027
- RP2D determination for IMA203CD8 expected in 2026
Financial Impact
No financial figures reported. Clinical data support potential multi-billion-dollar market opportunity across PRAME-positive cancers (>230K addressable patients in US/EU5 annually).
Risk Factors
- Phase 3 SUPRAME trial may fail to meet primary endpoint (PFS), delaying or preventing BLA submission
- Manufacturing scale-up for cell therapies (anzu-cel, IMA203CD8) may face capacity or cost challenges
- Competition from other TCR therapies, bispecifics, or checkpoint inhibitor combinations could limit market share
- Regulatory delays or safety signals in ongoing trials could derail timelines
- Dependence on HLA-A*02:01-positive patient population limits addressable market to ~41% US / 48% EU
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000950103-26-008113 |
| Document: dp247360_6k.htm | 0000950103-26-008113 |
| Document: dp247360_ex9906.htm | 0000950103-26-008113 |
| Document: dp247360_ex9901.htm | 0000950103-26-008113 |
| Document: dp247360_ex9907.htm | 0000950103-26-008113 |
| Document: dp247360_ex9902.htm | 0000950103-26-008113 |
| Document: dp247360_ex9903.htm | 0000950103-26-008113 |
| Document: dp247360_ex9905.htm | 0000950103-26-008113 |
| Document: dp247360_ex9904.htm | 0000950103-26-008113 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 27, 2026 5w ago | Insider Buy | $9.45 $8.50 | ▼ −10.05% | ▼ −10.31% | $7.59 (−19.68%) |
Aug 26, 2026 5w ago | 6-K | $9.36 $8.33 | ▲ +11.00% | ▲ +10.50% | $7.59 (+18.91%) |
Aug 18, 2026 6w ago | 6-K | $9.09 $8.82 | ▼ −2.97% | ▼ −1.98% | $7.59 (−16.50%) |
Aug 18, 2026 6w ago | Press Release | $9.09 $8.82 | ▼ −2.97% | ▼ −1.98% | $7.59 (−16.50%) |
Jun 2, 2026 17w ago | 6-K | $10.04 $9.85 | ▼ −1.89% | ▼ −0.33% | $7.59 (−24.40%) |
Jun 1, 2026 17w ago | 6-K | $11.14 $10.13 | ▼ −9.07% | ▼ −7.77% | $7.59 (−31.87%) |
Jun 1, 2026 17w ago | Press Release | $11.14 $10.13 | ▼ −9.07% | ▼ −7.77% | $7.59 (−31.87%) |
May 31, 2026 17w ago | Press Release | $11.14 $10.13 | ▼ −9.07% | ▼ −7.77% | $7.59 (−31.87%) |
May 30, 2026 17w ago | Press Release | $11.14 $10.13 | ▼ −9.07% | ▼ −7.77% | $7.59 (−31.87%) |
May 12, 2026 20w ago | 6-K | $11.39 $8.87 | ▲ +22.12% | ▲ +20.40% | $7.59 (+33.36%) |
US Market Status
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