(Immatics) Immatics NV reported revenue of 102.9 million euros or $114.2 million in the first quarter of 2022, an increase from 7.4 million euros or $8.2 million in the prior year.
The robust increase in revenue was related to the recognition of revenue for the license portion regarding the company’s collaboration agreement with Bristol Myers Squibb on IMA401.
Immatics swung into a net income of 85.7 million euros or $95.1 million in the quarter, compared to a loss of 22.8 million euros or $25.3 million in the prior year.
Immatics also confirmed that it began treatment in two of three-phase 1b cohorts advancing the company’s IMA203 TCR-T studies targeting PRAME.
The company said it hit a key milestone by entering the first-in-human trial with its first TCR Bispecifics candidate directed against MAGEA4/A8.
Immatics further stated that it had joined forces with Bristol Myers to develop multiple off-the-shelf TCR-T and/or CAR-T programs.
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