Immatics (IMTX) Research & Development (2019 - 2025)
Immatics' (IMTX) quarterly Research & Development came in at -$57.8 million in Q4 2025, down 29.22% year-on-year from -$81.6 million in Q4 2024, and down 4.78% quarter-over-quarter from -$55.2 million in Q3 2025.
Immatics (IMTX) Research & Development (2019 - 2025) Analysis & Trends
Immatics has disclosed Research & Development across 7 years of filings, most recently posting -$57.8 million for Q4 2025.
- Research & Development for Q4 2025 came in at -$57.8 million, down 29.22% year-over-year; the trailing twelve-month figure through Dec 2025 was -$208.1 million (down 29.84% YoY), and the FY2025 annual result 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.
- The 5-year median for Research & Development is -$31.5 million (2023), against an average of -$35.6 million.
- Across the five-year window, Research & Development sank 105.66% in 2021 and dropped 1.5% in 2022, its largest moves.
- Immatics' Research & Development stood at -$26.3 million in 2021, then dropped by 8.16% to -$28.4 million in 2022, then decreased by 25.99% to -$35.8 million in 2023, then fell by 24.94% to -$44.7 million in 2024, then dropped by 29.22% to -$57.8 million in 2025.
- The last three Research & Development figures came in at -$57.8 million (Q4 2025), -$55.2 million (Q3 2025), and -$51.1 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 925,601.88 Bn | 925,601.85 Bn | - | 4.32 Mn |
| 2 | Belite Bio | 58,560.00 Bn | 58,560.00 Bn | - | 15.66 Mn |
| 3 | Quantum Biopharma | 17,284.41 Bn | 17,284.40 Bn | - | 626,092.00 |
| 4 | Legend Biotech | 2,809.00 Bn | 2,808.71 Bn | 242.10 Mn | -101.30 Mn |
| 5 | Evaxion A | 1,334.43 Bn | 1,334.42 Bn | - | -2.30 Mn |
| 6 | Akari Therapeutics | 1,312.27 Bn | 1,312.26 Bn | - | 1.46 Mn |
| 7 | Psyence Biomedical | 212.16 Bn | 212.16 Bn | - | 357,444.00 |
| 8 | Vertex Pharmaceuticals | 114.83 Bn | 107.58 Bn | 2.59 Bn | 961.60 Mn |
| 9 | Abivax | 91.96 Bn | 91.96 Bn | - | -58.00 Mn |
| 10 | Immatics | 14.67 Bn | 14.67 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 |