Immatics (IMTX) Research & Development (2019 - 2025)
Immatics recorded quarterly Research & Development of -$57.8 million in Q4 2025, down 4.78% quarter-over-quarter from -$55.2 million in Q3 2025, and down 29.22% year-over-year from -$81.6 million in Q4 2024.
Immatics' Research & Development history runs 7 years deep, the most recent figure standing at -$57.8 million for Q4 2025.
- In Q4 2025, Research & Development fell 29.22% year-over-year to -$57.8 million; the TTM figure through Dec 2025 stood at -$208.1 million (down 29.84% YoY), while the FY2025 annual figure was -$207.7 million, down 31.26% from the prior year.
- Research & Development came in at -$57.8 million for Q4 2025 at Immatics, down from -$55.2 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$24.5 million in Q2 2021 to a low of -$57.8 million in Q4 2025.
- A 5-year average of -$35.6 million and a median of -$31.5 million in 2023 frame the typical range for Research & Development.
- Across the five-year window, Research & Development plunged 105.66% in 2021 and declined 1.5% in 2022, its largest moves.
- Immatics' Research & Development stood at -$26.3 million in 2021, then declined by 8.16% to -$28.4 million in 2022, then slipped by 25.99% to -$35.8 million in 2023, then retreated by 24.94% to -$44.7 million in 2024, then declined by 29.22% to -$57.8 million in 2025.
- According to Business Quant data, Research & Development over the past three periods registered -$57.8 million, -$55.2 million, and -$51.1 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Quantum Biopharma | 1,216,509.61 Bn | 1,216,509.61 Bn | - | 626,092.00 |
| 2 | Alterity Therapeutics | 764,224.41 Bn | 764,224.38 Bn | - | 4.32 Mn |
| 3 | Legend Biotech | 2,716.00 Bn | 2,715.71 Bn | 242.10 Mn | -101.30 Mn |
| 4 | Nanobiotix | 2,248.83 Bn | 2,248.77 Bn | - | - |
| 5 | Akari Therapeutics | 1,951.18 Bn | 1,951.17 Bn | - | 1.46 Mn |
| 6 | Vertex Pharmaceuticals | 113.69 Bn | 106.44 Bn | 2.59 Bn | 961.60 Mn |
| 7 | Evaxion A | 64.16 Bn | 64.14 Bn | - | -2.30 Mn |
| 8 | Regeneron Pharmaceuticals | 63.94 Bn | 55.18 Bn | 3.31 Bn | 1.54 Bn |
| 9 | Alnylam Pharmaceuticals | 40.13 Bn | 37.12 Bn | 959.66 Mn | 364.87 Mn |
| 10 | Immatics | 1.80 Bn | 1.80 Bn | - | -57.79 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -57.79 Mn |
| Sep 30, 2025 | -55.15 Mn |
| Jun 30, 2025 | -51.06 Mn |
| Mar 31, 2025 | -44.08 Mn |
| Dec 31, 2024 | -44.72 Mn |
| Sep 30, 2024 | -42.73 Mn |
| Jun 30, 2024 | -37.92 Mn |
| Mar 31, 2024 | -34.88 Mn |
| Dec 31, 2023 | -35.79 Mn |
| Sep 30, 2023 | -33.20 Mn |
| Jun 30, 2023 | -29.75 Mn |
| Mar 31, 2023 | -29.60 Mn |
| Dec 31, 2022 | -28.41 Mn |
| Sep 30, 2022 | -28.81 Mn |
| Jun 30, 2022 | -26.91 Mn |
| Mar 31, 2022 | -28.22 Mn |
| Dec 31, 2021 | -26.27 Mn |
| Sep 30, 2021 | -25.03 Mn |
| Jun 30, 2021 | -24.49 Mn |
| Mar 31, 2021 | -27.80 Mn |
| Dec 31, 2020 | -24.86 Mn |
| Sep 30, 2020 | -20.42 Mn |
| Jun 30, 2020 | -18.18 Mn |
| Mar 31, 2020 | -13.52 Mn |
| Dec 31, 2019 | -13.42 Mn |
| Sep 30, 2019 | -11.39 Mn |
| Jun 30, 2019 | -10.95 Mn |