Immatics (IMTX) Research & Development (2019 - 2025)
Immatics (IMTX) posted Research & Development of -$57.8 million for Q4 2025, down 4.78% sequentially from -$55.2 million in Q3 2025, and down 29.22% YoY from -$81.6 million in Q4 2024.
Immatics (IMTX) Research & Development (2019 - 2025) Analysis & Trends
Immatics has reported Research & Development for 7 years, with the latest figure at -$57.8 million in Q4 2025.
- Quarterly Research & Development fell 29.22% year-over-year to -$57.8 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$208.1 million (down 29.84% YoY) and the FY2025 annual result came in at -$207.7 million, down 29.59% from the prior year.
- Research & Development fell to -$57.8 million in Q4 2025 per IMTX's latest filing, from -$55.2 million in the prior quarter.
- Over five years, Research & Development peaked at -$24.5 million in Q2 2021 and troughed at -$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.
- The sharpest annual moves came in 2021 and 2022: Research & Development sank 105.66% in 2021, then fell 1.5% in 2022.
- Over 5 years, Research & Development stood at -$26.3 million in 2021, then fell by 8.16% to -$28.4 million in 2022, then dropped by 25.99% to -$35.8 million in 2023, then decreased by 24.94% to -$44.7 million in 2024, then fell 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Immatics | 1.27 Bn | 719.31 Mn | - | -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 |