Immatics (IMTX) Research & Development (2019 - 2025)
Immatics (IMTX) reported Research & Development of -$57.8 million for Q4 2025, down 29.22% on a YoY basis from -$81.6 million in Q4 2024, and down 4.78% sequentially from -$55.2 million in Q3 2025.
Immatics (IMTX) Research & Development (2019 - 2025) Analysis & Trends
Immatics (IMTX) has 7 years of Research & Development data on file, last reported at -$57.8 million in Q4 2025.
- For the quarter ending Q4 2025, Research & Development fell 29.22% year-over-year to -$57.8 million; the trailing twelve-month figure through Dec 2025 stood at -$208.1 million (down 29.84% YoY), and the FY2025 full-year result was -$207.7 million, down 29.59% from the prior year.
- Research & Development fell to -$57.8 million in Q4 2025, 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 tumbled 105.66% in 2021 and dropped 1.5% in 2022, its largest moves.
- Tracing IMTX's Research & Development over 5 years: stood at -$26.3 million in 2021, then slipped by 8.16% to -$28.4 million in 2022, then retreated by 25.99% to -$35.8 million in 2023, then declined by 24.94% to -$44.7 million in 2024, then slipped by 29.22% to -$57.8 million in 2025.
- Business Quant data shows IMTX's Research & Development at -$57.8 million in Q4 2025, -$55.2 million in Q3 2025, and -$51.1 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 67,072.09 Bn | 67,072.09 Bn | - | -17.94 Mn |
| 2 | Nanobiotix | 1,894.61 Bn | 1,894.55 Bn | - | - |
| 3 | Akari Therapeutics | 1,014.18 Bn | 1,014.18 Bn | - | 1.46 Mn |
| 4 | BeOne Medicines | 471.64 Bn | 466.85 Bn | 1.35 Bn | 541.22 Mn |
| 5 | Vertex Pharmaceuticals | 121.72 Bn | 114.47 Bn | 2.59 Bn | 961.60 Mn |
| 6 | Regeneron Pharmaceuticals | 68.28 Bn | 59.52 Bn | 3.31 Bn | 1.54 Bn |
| 7 | Belite Bio | 61.40 Bn | 61.40 Bn | - | 15.66 Mn |
| 8 | Argenx Se | 56.94 Bn | 56.94 Bn | 1.18 Bn | -443.00 Mn |
| 9 | Revolution Medicines | 37.37 Bn | 37.37 Bn | - | 343.97 Mn |
| 10 | Immatics | 1.11 Bn | 1.11 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 |