NEW YORK – Immatics on Thursday announced a proposed public offering of its common stock, through which it expects to raise approximately $150 million.
The Tübingen, Germany-based company has not yet priced the offering, which will be subject to market conditions and other factors. Jefferies, BofA Securities, and Leerink Partners are the bookrunning managers for the public offering.
The company plans to use the proceeds to support further research and development of its pipeline; the manufacturing, production, and commercialization of its product candidates, if they are approved; and for working capital and other general corporate purposes.
Immatics is developing T-cell receptor (TCR) therapies for solid tumors, including melanoma and ovarian, uterine, non-small cell lung, and triple-negative breast cancer, among others. The firm is currently evaluating one such T-cell receptor therapy, the autologous PRAME-targeting IMA203, as both a monotherapy and in combination with Bristol Myers Squibb's Opdivo (nivolumab) in a Phase Ib clinical trial enrolling metastatic melanoma patients. Immatics is planning to advance the treatment into a Phase III clinical trial.
Immatics raised $175 million in a previous public stock offering earlier this year and $110 million in a previous private stock offering in October 2022.