IMTX https://immatics.com/
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Executive Summary
Immatics presented extended Phase 1 data for its TCR bispecific IMA401 at ASCO 2026, showing a 29% confirmed ORR and 64% DCR in head and neck cancer at the RP2D, with deep and durable responses. The data support the initiation of a combination cohort with IMA402 in squamous NSCLC, with first data expected in 2027. The favorable tolerability and early efficacy signal in lung cancer are positive for the platform, but the early-stage nature of the data and long timeline to combination readouts temper near-term impact.
Actionable Insight
The IMA401 data are clinically encouraging but early-stage; the stock may see a modest positive reaction on the ASCO presentation and Nature Medicine publication. Key catalyst to watch is the IMA401/IMA402 combination data in 2027. Near-term, monitor for any partnership or financing announcements given the cash burn from two Phase 1 programs.
Key Facts
- IMA401 at RP2D in head and neck cancer: 29% confirmed ORR (4/14), 64% DCR (9/14), median DOR 8.8 months.
- All responders achieved deep tumor reduction (60-100%); 3 of 4 responders ongoing at data cutoff.
- Melanoma: 33% cORR (2/6), 67% DCR; one response ongoing >2.5 years.
- Initial clinical signal in squamous NSCLC: a fifth-line ICI-resistant patient achieved partial response with shrinkage of all target lesions.
- Favorable tolerability at RP2D: no ≥G3 CRS, no ICANS; combinability with pembrolizumab supported.
- Combination cohort IMA401 + IMA402 in sqNSCLC now enrolling; first data expected in 2027.
- >90% of sqNSCLC patients express PRAME and/or MAGEA4/8; ~60% express both targets.
- Data published simultaneously in Nature Medicine.
- Addressable sqNSCLC population in US+EU5 estimated at ~40,000 patients/year.
Financial Impact
No financial data provided; early-stage clinical data with no revenue or guidance impact. Potential future value hinges on combination data in 2027.
Risk Factors
- Phase 1 data are preliminary; larger trials may not replicate efficacy or safety.
- Combination cohort data not expected until 2027, creating a long wait for the next major catalyst.
- Competition from other TCR bispecifics and cell therapies targeting similar antigens.
- Dependence on continued financing; Immatics may need to raise capital to fund ongoing trials.
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3303923 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 2, 2026
3d ago
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6-K
| $10.04 $10.21 | ▲ +1.64% | ▲ +2.34% | $9.79 (−2.49%) |
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Jun 1, 2026
4d ago
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6-K
| $11.14 $10.04 | ▼ −9.87% | ▼ −10.02% | $9.79 (−12.12%) |
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Jun 1, 2026
4d ago
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Press Release
| $11.14 $10.04 | ▼ −9.87% | ▼ −10.02% | $9.79 (−12.12%) |
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May 31, 2026
5d ago
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Press Release
| — | awaiting T+1 | — | — |
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May 30, 2026
6d ago
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Press Release
| — | awaiting T+1 | — | — |
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May 12, 2026
24d ago
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6-K
| $11.39 $10.79 | ▲ +5.27% | ▲ +5.84% | $9.79 (+14.05%) |
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May 12, 2026
24d ago
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Press Release
| $11.39 $10.79 | ▼ −5.27% | ▼ −5.84% | $9.79 (−14.05%) |
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Apr 21, 2026
6w ago
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6-K
| $11.18 $11.26 | ▲ +0.72% | ▼ −0.30% | $9.79 (−12.43%) |
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Apr 21, 2026
6w ago
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Press Release
| $11.18 $11.26 | ▲ +0.72% | ▼ −0.30% | $9.79 (−12.43%) |
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Apr 17, 2026
7w ago
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6-K
| $11.17 $11.25 | ▲ +0.72% | ▲ +0.91% | $9.79 (−12.35%) |
US Market Status
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