0001193125-22-215577 | 6-K | XBRL Viewer

Print Document View Excel Document

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2022
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	IMMATICS N.V.
Entity Central Index Key	0001809196
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statement of Financial Position of Immatics N.V. - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	€ 265,125	€ 132,994
Other financial assets	59,253	12,123
Accounts receivable	961	682
Other current assets	10,686	6,408
Total current assets	336,025	152,207
Non-current assets
Property, plant and equipment	11,271	10,506
Intangible assets	1,309	1,315
Right-of-use assets	15,016	9,982
Other non-current assets	4,678	636
Total non-current assets	32,274	22,439
Total assets	368,299	174,646
Current liabilities
Provisions	2,858	51
Accounts payable	13,284	11,624
Deferred revenue	78,394	50,402
Other financial liabilities	14,116	27,859
Lease liabilities	2,429	2,711
Other current liabilities	2,913	2,501
Total current liabilities	113,994	95,148
Non-current liabilities
Deferred revenue	115,321	48,225
Lease liabilities	13,984	7,142
Other non-current liabilities	59	68
Total non-current liabilities	129,364	55,435
Shareholders' equity
Share capital	653	629
Share premium	593,026	565,192
Accumulated deficit	(466,131)	(537,813)
Other reserves	(2,607)	(3,945)
Total shareholders' equity	124,941	24,063
Total liabilities and shareholders' equity	€ 368,299	€ 174,646

Condensed Consolidated Statement of Profit/(Loss) of Immatics N.V. - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Profit or loss [abstract]
Revenue from collaboration agreements	€ 17,215	€ 5,189	€ 120,123	€ 12,592
Research and development expenses	(25,216)	(20,340)	(50,360)	(43,389)
General and administrative expenses	(8,683)	(8,271)	(17,961)	(16,702)
Other income	27	26	32	265
Operating result	(16,657)	(23,396)	51,834	(47,234)
Financial income	7,015	213	8,774	3,101
Financial expenses	(407)	(629)	(1,524)	(1,277)
Change in fair value of warrant liabilities	(2,786)	(2,722)	13,743	(3,936)
Financial result	3,822	(3,138)	20,993	(2,112)
Profit/(loss) before taxes	(12,835)	(26,534)	72,827	(49,346)
Taxes on income	(1,145)	0	(1,145)	0
Net profit/(loss)	€ (13,980)	€ (26,534)	€ 71,682	€ (49,346)
Net profit/(loss) per share:
Basic	€ (0.22)	€ (0.42)	€ 1.12	€ (0.78)
Diluted	€ (0.22)	€ (0.42)	€ 1.11	€ (0.78)
Weighted average shares outstanding:
Basic	64,915,600	62,909,095	63,932,449	62,908,945
Diluted	64,915,600	62,909,095	64,477,256	62,908,945

Condensed Consolidated Statement of Comprehensive Income/(Loss) of Immatics N.V. - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of comprehensive income [abstract]
Net profit/(loss)	€ (13,980)	€ (26,534)	€ 71,682	€ (49,346)
Items that may be reclassified subsequently to profit or loss, net of tax
Currency translation differences from foreign operations	778	(1,401)	1,338	1,324
Total comprehensive income/(loss) for the period	€ (13,202)	€ (27,935)	€ 73,020	€ (48,022)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2021-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2021-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2021-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2021-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2021-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2021-03-24

+ Details

Condensed Consolidated Statement of Cash Flows of Immatics N.V. - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net profit/(loss)	€ 71,682	€ (49,346)
Adjustments for:
Interest income	(23)	(87)
Depreciation and amortization	3,407	2,264
Interest expense	538	140
Equity settled share-based payment	11,262	16,270
Net foreign exchange differences	115	236
Change in fair value of warrant liabilities	(13,743)	3,936
Changes in:
(Increase)/decrease in accounts receivable	(280)	532
(Increase)/decrease in other assets	(6,903)	902
Increase/(decrease) in accounts payable and other liabilities	98,078	(11,363)
Interest received	23	54
Interest paid	(434)	(140)
Net cash provided by/(used in) operating activities	163,722	(36,602)
Cash flows from investing activities
Payments for property, plant and equipment	(1,965)	(1,912)
Cash paid for investments classified in Other financial assets	(59,253)	(11,423)
Cash received from maturity of investments classified in Other financial assets	12,695	3,411
Payments for intangible assets	(6)	(390)
Proceeds from disposal of property, plant and equipment	1	8
Net cash (used in)/provided by investing activities	(48,528)	(10,306)
Cash flows from financing activities
Proceeds from issuance of shares to equity holders	17,112
Transaction costs deducted from equity	(515)
Payments for leases	(1,394)	(1,348)
Net cash provided by/(used in) financing activities	15,203	(1,348)
Net increase/(decrease) in cash and cash equivalents	130,397	(48,256)
Cash and cash equivalents at beginning of period	132,994	207,530
Effects of exchange rate changes on cash and cash equivalents	1,734	819
Cash and cash equivalents at end of period	€ 265,125	€ 160,093

Condensed Consolidated Statement of Changes in Shareholders' equity of Immatics N.V. - EUR (€) € in Thousands	Total	Share capital [member]	Share premium [member]	Accumulated deficit [member]	Other reserves [member]
Beginning Balance at Dec. 31, 2020	€ 87,387	€ 629	€ 538,695	€ (444,478)	€ (7,459)
Other comprehensive income	1,324				1,324
Net profit/(loss)	(49,346)			(49,346)
Comprehensive income/(loss) for the year	(48,022)			(49,346)	1,324
Equity-settled share-based compensation	16,270		16,270
Ending Balance at Jun. 30, 2021	55,635	629	554,965	(493,824)	(6,135)
Beginning Balance at Dec. 31, 2021	24,063	629	565,192	(537,813)	(3,945)
Other comprehensive income	1,338				1,338
Net profit/(loss)	71,682			71,682
Comprehensive income/(loss) for the year	73,020			71,682	1,338
Equity-settled share-based compensation	11,262		11,262
Share options exercised	1		1
Issue of share capital – net of transaction costs	16,595	24	16,571
Ending Balance at Jun. 30, 2022	€ 124,941	€ 653	€ 593,026	€ (466,131)	€ (2,607)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Group information	6 Months Ended
Group information	Jun. 30, 2022
Text Block [Abstract]
Group information	1. Group information Immatics N.V, together with its German subsidiary Immatics Biotechnologies GmbH and its U.S. subsidiary, Immatics US Inc., (“Immatics” or “the Group”) is a biotechnology group that is primarily engaged in the research and development of T cell redirecting immunotherapies for the treatment of cancer. Immatics N.V., a Dutch public limited liability company, was converted on July 1, 2020 from Immatics B.V., a Dutch company with limited liability. Immatics Biotechnologies GmbH and Immatics US Inc. became subsidiaries of Immatics N.V. as part of the ARYA Merger on July 1, 2020. Immatics N.V is registered with the commercial register at the Netherlands Chamber of Commerce under RSIN 861058926 with a corporate seat in Amsterdam and is located at Paul-Ehrlich Str. 15 in 72076 Tübingen, Germany. These interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2022, were authorized for issue by the Audit Committee of Immatics N.V. on August 9, 2022.

Significant events and changes in the current reporting period

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Significant events and changes in the current reporting period

2. Significant events and changes in the current reporting period

The following significant events or transactions occurred during the three and six months ended June 30, 2022.

License, Development and Commercialization agreement with BMS

On December 10, 2021, Immatics Biotechnologies GmbH entered into a License, Development and Commercialization agreement (the “BMS agreement”) with Bristol-Myer-Squibb Company (“BMS”). The BMS agreement became effective on January 26, 2022, after the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on January 25, 2022. Pursuant to the BMS agreement, the Group received a €133 million ($150 million) upfront cash payment related to the performance obligations under the contract. The Group identified the transfer of a global exclusive IMA401 license including technology transfer and the contractually agreed clinical trial services including participation in Joint Steering Committee meetings as distinct performance obligations. The Group is eligible to receive up to $770 million development, regulatory and commercial milestone payments, in addition to low double-digit royalty payments on net sales of IMA401. Immatics retains the options to

co-fund

U.S. development in exchange for enhanced U.S. royalty payments and/or to

co-promote

IMA401 in the US. In November 2021, Immatics filed a Clinical Trial Application (CTA) with Paul-Ehrlich-Institute (PEI), the German federal regulatory authority, for the development of IMA401. The clinical trial, which commenced in the second quarter of 2022, will enroll patients across various solid tumor types.

Under IFRS 15, the Group applied significant judgement when evaluating whether the obligations under the BMS agreement represent one performance obligation, combined performance obligations or multiple performance obligations, the allocation of the transaction price to identified performance obligations, and the determination of whether milestone payments should be included in the transaction price.

The Group concluded that BMS is a customer since the BMS agreement does contain elements of a customer relationship even though it is a collaboration agreement, where to some degree both risks and benefits are shared between the Group and BMS. The BMS agreement clearly states deliverables to be delivered by the Group and BMS as mentioned below and creates enforceable rights and obligations.

The Group transferred license rights and is performing clinical trial services. While the clinical trial is a prerequisite for approval of the product, it does not modify the underlying product. The manufacturing of the product for the trial is already completed. The clinical trial will evaluate safety, tolerability, and initial anti-tumor activity of IMA401 in patients with recurrent and/or refractory solid tumors, but there is no modification planned as part of this. With the end of the

pre-clinical

phase, there was no further enhancement of the products planned. We therefore concluded that BMS can benefit from each performance obligation on its own and they are separately identifiable from other promises in the BMS agreement. The Group concluded that there were two distinct performance obligations under the BMS agreement, the granted license and the conduct of clinical trial services.

At inception of the BMS agreement, the Group determined the transaction price. We evaluated inclusion of the milestones as part of the transaction price under the most-likely method. Milestone payments are included at the most likely amount in the transaction price. However, variable consideration is only included in the transaction price to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The contractual agreed milestone payments with BMS relate to the license. It is not highly probable that the Group will receive any of these milestone payments. Based on that the Group concludes that no variable consideration is considered as transaction price at contract inception. At the end of each reporting period, the Group

re-evaluates

the probability of achievement of milestones and, if necessary, adjusts its estimate of the overall transaction price. Sales-based royalties will only be recognized as sales occur since the license is the predominant item to which the royalty relates.

The Group is required to allocate the determined transaction price of €

133

million ($

150

million) to the two separate identified performance obligations of the BMS agreement, based on the standalone selling price of each performance obligation as the upfront payment of €

133

million ($

150

million) covers the cost of clinical trial services as well as an initial payment for the license.

Since the BMS agreement consist of two performance obligations, the Group determined the underlying stand-alone selling price for each performance obligation, to allocate the transaction price to the performance obligations. The estimation of the stand-alone selling price included estimates regarding forecasted cost for future services, profit margins and development timelines.

The most reasonable estimation method for the performance obligation related to clinical trial services is the expected cost method, due to the fact that the Group is able to use expected costs including a profit margin to estimate the stand-alone selling price. On top of the forecast of expected costs, the Group added an appropriate profit margin based on average company profit margins for clinical trial services.

To estimate a stand-alone selling price for the performance obligation related to the IMA401 license, the Group concluded to use the residual approach due to the fact that the license is a unique license and there is no available market price for the license and hence no specific stand-alone selling price apart from the residual amount was identified. The Group concluded following transaction price allocation of the €133 million ($150 million) upfront payment as of March 31, 2022:

Stand-alone selling price for clinical trial services: €42 million

Stand-alone selling price for the license grant: €91 million

The Group evaluated each performance obligation to determine if it can be satisfied at a point in time or over time. The control over the granted license is transferred at a point in time, after BMS obtains the rights to use the license at the effective date of the agreement. The performance obligation related to promised clinical trial services is satisfied over time. The Group transfers control of these agreed services over time and will therefore recognize revenue over time as costs are incurred using a

cost-to-cost

method.

At inception of the BMS agreement, €42 million were initially deferred on the Groups Consolidated Statement of Financial Position. For the three months ended June 30, 2022, €2.8 million revenue is recognized based on the cost-to-cost method. For the six months ended June 30, 2022, €4.3 million revenue is recognized based on the cost-to-cost method and €91 million revenue is recognized related to the license for IMA 401.

License

, Development and Commercialization agreement with Bristol-Myers-Squibb to develop Gamma Delta Allogeneic Cell Therapy program

On June 1, 2022, Immatics US, Inc. entered into a License, Development and Commercialization agreement (the “Allogeneic ACT agreement”) with Bristol-Myer-Squibb Company (“BMS”). Pursuant to the Allogeneic ACT agreement, the Group received a €57.7 million ($60 million) upfront cash payment plus an additional payment of €4.8 million ($5 million) related to the performance obligations under the contract. The Group identified the transfer of an exclusive right and license with the right to grant sublicenses under the Immatics Licensed IP, technology transfer, contractually agreed research and development services including participation in Joint Steering Committee meetings and the delivery of research progress reports to BMS as a combined performance obligation. The Group is eligible to receive up to $700 million development, regulatory and commercial milestone payments, in addition to tiered royalty payments of up to low double-digit percentages on net product sales.

Under IFRS 15, the Group applied significant judgement when evaluating whether the obligations under the Allogeneic ACT agreement represent one combined performance obligation or multiple performance obligations and the determination of whether milestone payments should be included in the transaction price.

The Group concluded that BMS is a customer since BMS obtains through the Allogeneic ACT agreement the output of Immatics’ ordinary activities in exchange for a consideration. The Allogeneic ACT agreement clearly states the deliverables to the Group and BMS as mentioned below and creates enforceable rights and obligations.

The Group granted to BMS exclusive access to licensed products and is performing research and development services. The research and development services performed by the Group will cover preclinical development of the initial two Bristol Myers Squibb-owned programs and are not distinct from the licensed IP, since the preclinical platform does not have a standalone value without further development. Based on the facts and circumstances, the collaboration agreement contains multiple promises, which aggregate to one combined performance obligation.

At inception of the Allogeneic ACT agreement, the Group determined the transaction price. The Group evaluated inclusion of the milestones as well as potential cost reimbursements as part of the transaction price under the most-likely method. Milestone payments are included at the most likely amount in the transaction price. However, variable consideration is only included in the transaction price to

the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. For the contractual agreed milestone payments with BMS, the license is predominant. Based on that the Group concludes that no variable consideration is considered as transaction price at contract inception. At the end of each reporting period, the Group

re-evaluates

The Group allocated the determined total transaction price consisting of the received payments as well as

cost

reimbursements to the single combined performance obligation of the Allogeneic ACT agreement.

Based

on the facts mentioned above the Group determined that the combined performance obligation related to promised research and development services is satisfied over time and therefore revenue will be recognized over time as costs for the research and development services incurred using a cost-to-cost method.

At inception of the Allogeneic ACT agreement, €60.7 million were initially deferred on the Groups Consolidated Statement of Financial Position. For the three months ended June 30, 2022, €0.6 million revenue is recognized based on the cost-to-cost method.

Amendment to Strategic Collaboration Agreement with Bristol-Myers-Squibb on novel adoptive cell therapies

On June 1, 2022, Immatics Biotechnologies GmbH entered into an Amendment to the Strategic Collaboration Agreement

originally signed in 2019

(the “amendment”) with Bristol-Myer-Squibb Company (“BMS”). Pursuant to the amendment, the Group received a €18.7 million ($20 million) upfront cash payment related to the performance obligations under the contract. Under the amendment, Immatics will

undertake

an additional T Cell Receptor Engineered T cell Therapy (TCR-T) program

against a

solid tumor target discovered with Immatics’ XPRESIDENT technology. The program will utilize proprietary T Cell Receptors (TCRs) identified by Immatics’ XCEPTOR TCR discovery and engineering platform.

The increased consideration reflects

the stand-alone selling price at contract inception and the amendment contains performance obligations that are distinct from the original performance obligation under the contract. Therefore, the Group determined to account for the modification of the Allogeneic ACT agreement signed in 2019, triggered by the amendment as a separate contract.

Immatics will be responsible for the development and validation of these programs through lead candidate stage, at which time BMS may exercise

opt-in

rights and assume sole responsibility for further worldwide development, manufacturing and commercialization of the

TCR-T

cell therapies. Immatics would have certain early-stage

co-development

rights or

co-funding

rights for selected

TCR-T

cell therapies arising from the collaboration. With respect to this amendment, Immatics may be eligible to receive regulatory and sales milestones as well as royalties in line with the BMS collaboration agreement signed in 2019.

The Group identified the transfer of an exclusive right and license to patents on one additional target and respective therapeutic treatments, including technology transfer, the contractually agreed research and development services by the Group and the participation in Joint Steering Committee meetings as combined performance

obligation as they are not distinct from each other.

At inception of the amendment, the Group determined the transaction price. The Group evaluated inclusion of the milestones as part of the transaction price under the most-likely method. Milestone payments are included at the most likely amount in the transaction price. However, variable consideration is only included in the transaction price to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The contractual agreed milestone payments with BMS relate to the license. Based on that the Group concludes that no variable consideration is considered as transaction price at contract inception. At the end of each reporting period, the Group re-evaluates the probability of achievement of milestones and, if necessary, adjusts its estimate of the overall transaction price. Sales-based royalties will only be recognized as sales occur since the license is the predominant item to which the royalty relates.

The Group concluded to allocate the determined transaction price of €18.7 million ($20 million) to the performance obligation from the amendment - the research and development services and the license for the targets. The Group determined that the performance obligation is satisfied over time and therefore revenue will be recognized over time as costs incurred using a cost-to-cost method.

At inception of the agreement, €18.7 million were initially deferred on the Groups Consolidated Statement of Financial Position. For the three months ended June 30, 2022, no revenue is recognized based on the cost-to-cost method, due to the fact that no research and development work was

performed.

Research collaboration and License agreement with Editas Medicine, Inc.

On May 27, 2022, Immatics US, Inc. entered into a Research collaboration and License agreement (the “Editas agreement”) with Editas Medicine, Inc. (“Editas”). The Editas agreement became effective on May 27, 2022. Pursuant to the Editas agreement, the Group paid upfront a

one-time

and

non-refundable

fee related to the Groups access to a

non-exclusive

right to Editas Medicine’s CRISPR technology and intellectual property as well as for services provided by Editas. The Group will together with Editas combine gamma-delta T cell adoptive cell therapies and gene editing to develop medicines for the treatment of cancer.

The Group determined to account for the upfront payment as prepaid research and development expenses. The prepaid expense will be consumed over the term of the research and development activities.

COVID-19

In December 2019, a novel strain of coronavirus (“COVID-19”) emerged. In response, many countries and businesses still institute travel restrictions, quarantines, and office closures. The extent of the pandemic and governmental responses may impact our ability to obtain raw materials and equipment used for research and development, obtain sufficient additional funds to finance our operations, and conduct clinical trials, any of which could materially and adversely affect our business.

Management enacted significant measures to protect the Group’s supply chain, employees, and the execution of clinical trials and continues to monitor the situation. To date, the pandemic has not significantly impacted the Group. The ongoing spread of COVID-19 may in the future negatively impact the Group’s ability to conduct clinical trials, including potential delays and restrictions on the Group’s ability to recruit and retain patients, and the availability of principal investigators and healthcare employees. COVID-19 could also affect the operations of contract research organizations, which may also result in delays or disruptions in the supply of product candidates. Given the current situation we do not expect significant negative impacts on the Group’s activities in the future, but variants of COVID-19 could limit the impact of vaccines and lead to negative impacts on the Group’s activities.

Significant accounting policies	6 Months Ended
Significant accounting policies	Jun. 30, 2022
Text Block [Abstract]
Significant accounting policies	3. Significant accounting policies Basis of presentation The interim condensed consolidated financial statements of the Group as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 have been prepared in accordance with International Accounting Standard 34 (“Interim Financial Reporting”), as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2021, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRS IC”). The interim condensed consolidated financial statements are presented in Euros. Amounts are stated in thousands of Euros, unless otherwise indicated. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2021. The new and amended standards and interpretations applicable for the first time as of January 1, 2022, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2021, had no impact on the interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2022. The Group reported basic and diluted earnings per share. Basic earnings per share are calculated by dividing the net profit or loss by the weighted-average number of ordinary shares outstanding for the reporting period. Diluted earnings per share for the six months ended June 30, 2022, are calculated by adjusting the weighted-average number of ordinary shares outstanding for any dilutive effects resulting from equity awards granted to the Board and employees of the Group as well as from publicly traded Immatics Warrants. The Group’s equity awards and Immatics Warrants for which the exercise price is exceeding the Groups weighted average share price for the six months ended June 30, 2022, are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares. The Group was loss-making during the three months ended June 30, 2022 as well as during the three and six months ended June 30, 2021, therefore all instruments are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares outstanding, including the outstanding equity awards and the 7,187,500 Immatics Warrants issued in 2020 and outstanding as of June 30, 2022. The Group determined its revenue recognition policies related to the new collaboration agreements signed during the six months ended June 30, 2022. Refer to section within the Note 2 for further details regarding the accounting treatment and significant estimates by the Group applied in connection with the determination of the accounting treatment of the collaboration agreements.

Segment information	6 Months Ended
Segment information	Jun. 30, 2022
Text Block [Abstract]
Segment information	4. Segment information The Group manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Group’s focus is on the research and development of T cell redirecting immunotherapies for the treatment of cancer. The Chief Executive Officer is the chief operating decision maker who regularly reviews the consolidated operating results and makes decisions about the allocation of the Group’s resources.

Other current and non-current assets

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Other current and non-current assets

5. Other current and

non-current

assets


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)


Prepaid expenses		6,573		3,781
Value added tax receivable		947		915
Grant receivable		830		762
Other assets		2,336		950

Other current assets		10,686		6,408

The Group recognizes receivables for government grants, when it is reasonably assured that the grant will be received, and all contractual conditions have been complied with. As of June 30, 2022, and December 31, 2021, no receivables were considered impaired.

Prepaid expenses include expenses for licenses and software of €4.5 million as of June 30, 2022 and €0.5 million as of December 31, 2021 and prepaid insurance expenses of €0.2 million as of June 30, 2022 and €1.3 million as of December 31, 2021. The Group accrued €0.5 million as of June 30, 2022 and €0.7 million as of December 31, 2021 of incremental cost for the successful arrangement of the BMS collaboration signed in 2019 and the Genmab collaboration agreement.

Additionally, prepaid expenses include expenses for maintenance of €0.5 million as of June 30, 2022 and €0.8 million as of December 31, 2021. The remaining amount is mainly related to CRO expenses and prepaid rent.

Other assets include receivables from capital gains tax of €0.3 million as of June 30, 2022 and €0.3 million as of December 31, 2021. Furthermore, other assets include receivables from lease incentive of €1.1 million as of June 30, 2022. The remaining amount is mainly related to prepaid deposit expenses.


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Prepaid expenses		4,678		636

Other non-current assets		4,678		636

Other non-current assets include the non-current portion of prepayments for licensing agreements of €4.2 million, prepaid maintenance expenses of €0.3 million and accrued incremental cost of the BMS and Genmab collaboration agreement of €0.2 million as of June 30,

2022.

Revenue from collaboration agreements

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Revenue from collaboration agreements

6. Revenue from collaboration agreements

The Group earns revenue through strategic collaboration agreements with third party pharmaceutical and biotechnology companies. As of June 30, 2022, the Group had five strategic collaboration agreements in place. During the six months ended June 30, 2022, the Group entered into new collaboration agreements with BMS. Refer to Note 2 “License, Development and Commercialization agreement with BMS”, “License, Development and Commercialization agreement with Bristol-Myers-Squibb to develop Gamma Delta Allogeneic Cell Therapy program” and “Amendment to Strategic Collaboration Agreement with Bristol-Myers-Squibb on novel adoptive cell therapies” for further details. Four of the five collaboration agreements are still at

pre-clinical

stage and the BMS IMA401 collaboration agreement is at clinical stage. As the Amgen collaboration agreement was terminated in October 2021, the Group did not recognize any revenue for this collaboration for the three and six months ended June 30, 2022.

The

Group earned revenue from collaboration agreements from the following collaborators during the three and six months ended June 30, 2022 and 2021:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(Euros in thousands)				(Euros in thousands)

Amgen		—		260		—		517
Genmab		4,125		2,105		7,044		4,341
BMS		12,107		1,297		110,532		4,590
GSK		983		1,527		2,547		3,144

Total		17,215		5,189		120,123		12,592

The revenue from collaboration agreements with BMS includes the revenue regarding the right-to-use license for IMA401 amounting to €91.3 million for the six months ended June 30, 2022. The Group recognized €19.2 million revenue based on the cost-to-cost method regarding the four collaboration agreements with BMS for the six months ended June 30, 2022.

As of June 30, 2022, the Group has not recognized any milestone revenue under the collaboration agreements, due to the scientific uncertainty of achieving the milestones or the successful commercialization of a product. As of June 30, 2022, Immatics had not received any milestone or royalty payments in connection with the collaboration agreements.

The Group expects to recognize the remaining deferred revenue balance into revenue as it performs the related performance obligations under each contract. Deferred revenue related to the collaboration agreements consists of the following as of June 30, 2022 and December 31, 2021:


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Current		78,394		50,402
Non-current		115,321		48,225

Total		193,715		98,627

The Group recognized expenses related to the amortization of capitalized cost of obtaining a contract of €0.2 million and €0.1 million for the three months ended June 30, 2022 and June 30, 2021.

The Group recognized expenses related to the amortization of capitalized cost of obtaining a contract of €0.3 million and €0.1 million for the six months ended June 30, 2022 and June 30, 2021.

Financial result

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Financial result

7. Financial result

Financial income and financial expenses consist of the following:


	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
	(Euros in thousands)						(Euros in thousands)

Interest income		69			38			75			87
Foreign currency gains		6,946			19			8,699			3,014
Gain on other financial instruments		—			156			—			—

Financial income		7,015			213			8,774			3,101

Interest expenses		(376	)		(140	)		(538	)		(245	)
Foreign currency losses		(31	)		(489	)		(986	)		(101	)
Losses on other financial instruments		—			—			—			(931	)

Financial expenses		(407	)		(629	)		(1,524	)		(1,277	)
Change in fair value of warrant liabilities		(2,786	)		(2,722	)		13,743			(3,936	)

Financial result		3,822			(3,138	)		20,993			(2,112	)

Foreign currency gains and losses mainly consist of unrealized gains and losses in connection with our USD holdings of both cash and cash equivalents as well as bonds.

The fair value of the warrants decreased from €3.88 per warrant as of December 31, 2021 to €1.58 as of March 31, 2022 and increased to €1.96 as of June 30, 2022. The result is an increase in fair value of warrant liabilities of €2.8 million for the three months ended June 30, 2022 and a decrease in fair value of warrant liabilities of €13.7 million for the six months ended June 30, 2022.

Losses on other financial instruments consist of losses from unrealized currency forward contracts.

Income Tax	6 Months Ended
Income Tax	Jun. 30, 2022
Text Block [Abstract]
Income Tax	8. Income Tax During the three months ended March 31, 2022, the Group generated a net income due to the recognition of revenue in connection with the license component of the BMS agreement. This one-time revenue is not accounted for under German GAAP and consequently under German tax accounting. Instead, the Group recognizes revenue for the BMS agreement over the period of the clinical trial service. The deferred tax liability arising from the temporary difference related to delayed revenue recognition under German tax accounting is offset by deferred tax assets on tax losses carried forward that were previously not capitalized due to the Groups expectation of generating taxable losses in the foreseeable future. During the three and six months ended June 30, 2022 and 2021, the Group’s German operations were subject to a statutory tax rate of 28.5% and the Group´s U.S. operations were subject to a corporate income tax rate of 21 %. For Immatics Biotechnologies GmbH, the Group recognized an income tax expense and an equivalent current tax liability in the amount of €1.2 million for the three months ended June 30, 2022. The income tax expense is calculated based on taxable income of Immatics Biotechnologies GmbH for the six months ended June 30, 2022. The Group applied the estimated effective tax rate of the financial year 2022 to the taxable income for the six months ended June 30, 2022. Since no deferred tax assets have been recognized as of December 31, 2021, the Group took into account the tax losses carried forward that can be used to offset the taxable income generated in the three months ended June 30, 2022. In accordance with §10d para 2 EStG ( G erman income tax code), 60% of an income of a given year can be offset with tax losses carried forward. Accordingly, 40% of the income before tax of Immatics Biotechnologies GmbH are subject to income tax. As the profit is considered a one-time profit, no deferred tax assets exceeding the deferred tax liability for temporary differences have been recognized in respect of tax losses carried forward. The current assessment regarding the usability of deferred tax assets may change, depending on the Group’s taxable income in future years, which could result in the recognition of deferred tax assets. The Group continued to generate losses for all other entities within the Group during the three and six months ended June 30, 2022 as well as for all entities during the three and six months ended June 30, 2021. Due to the ARYA Merger described in Note 3 of the Group’s annual financial statements for the year ended December 31, 2020, there are certain limitations on tax losses carried forward for net operating losses incurred by Immatics US, Inc., under Section 382 of the U.S. Internal Revenue Code.

Intangible assets, Property, plant and equipment and Right-of-use assets	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Intangible assets, Property, plant and equipment and Right-of-use assets	9. Intangible assets, Property, plant and equipment and Right-of-use assets During the three months ended June 30, 2022 and June 30, 2021, the Group acquired property, plant and equipment and intangible assets in the amount of €1.1 million and €1.8 million, respectively. During the six months ended June 30, 2022 and June 30, 2021, the Group acquired property, plant and equipment and intangible assets in the amount of €2.2 million and €2.4 million, respectively. During the six months ended June 30, 2022, extensions to existing lease agreements as well as the lease of a new facility in Houston resulted in an addition in right-of-use assets and corresponding lease liability in the amount of €6.7 million. The Group used an incremental borrowing rate (“IBR”) for each respective lease to calculate the initial lease liability.

Provisions

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Provisions

10. Provisions

Provisions consisted of the following as of June 30, 2022 and December 31, 2021:


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Other provision		51		51
Provision for bonuses		2,807		—

Total provisions		2,858		51

These amounts include provisions for the Group’s annual employee bonuses. These amounts are classified as a provision as of June 30, 2022, because the amount to be paid is uncertain.

Other current liabilities

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Other current liabilities

11. Other current liabilities

Other current liabilities consisted of the following as of June 30, 2022 and December 31, 2021.


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Income tax liability		1,145		—
Payroll tax		400		1,760
Accrual for vacation		1,194		607
Other		174		134

Total		2,913		2,501

Other current liabilities are non-interest-bearing and are due within one year. The carrying amounts of other current liabilities represents fair value due to their short-term nature.

Share-based payments

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Share-based payments

12. Share-based payments

Immatics N.V. has two share-based payment plans. In June 2020, Immatics N.V. established an initial equity incentive plan (“2020 Equity Plan”). At the Annual General Meeting on June 13, 2022, Immatics´ s shareholders approved the Company’s 2022 stock option and incentive plan (“2022 Equity Plan”). The 2022 Equity Plan allows the company to grant additional options, other than that, it does not materially differ from the 2020 Equity Plan.

Immatics Biotechnologies GmbH previously issued share-based awards to employees under two different plans. Under the Immatics Biotechnologies GmbH Stock Appreciation Program 2010 (the “2010 Plan”), the Company issued stock appreciation rights (“SARs”), which the Group accounted for as cash-settled awards. Under the Immatics Biotechnologies 2016 Equity Incentive Plan (“2016 Plan”), the Company issued tandem awards, which contained the possibility to function as either a SAR or a stock option.

The Group accounted for awards issued under the 2016 Plan, which were redeemable in either cash or equity shares at the Group’s discretion, as equity

settled.

As part of the ARYA Merger, all outstanding awards under the 2010 Plan and 2016 Plan were replaced by a combination of cash payments and share-based awards under the 2020 Equity Plan in Immatics N.V. Under the 2020 Plan, management and employees have been granted different types of
options, all of which are equity-settled transactions. As part of the replacement, active employees and management members received stock options
(“Matching Stock Options”) to acquire shares in Immatics N.V. The Matching Stock Options have an exercise price of

$10.00 and vested fully on
July 31, 2021

. The award recipient must remain employed by Immatics or one of its affiliates through the vesting date, to receive the option. The awards have

a ten-year contract life.

Matching Stock Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Matching Stock Options outstanding on January 1,		10.00		1,406,468
Matching Stock Options forfeited		—		—
Matching Stock Options exercised		—		—
Matching Stock Options expired		10.00		1,638
Matching Stock Options outstanding on June 30,		10.00		1,404,830
Matching Stock Options exercisable on June 30,		10.00		1,404,830
Weighted average remaining contract life (years)		8.01

For any outstanding 2016 Plan and 2010 Plan awards scheduled to vest on or after January 1, 2021, employees received replacement stock options (“Converted Options”) to acquire shares in Immatics N.V. The Converted Options have comparable terms to previous awards, with revised exercise prices reflecting the reorganized capital structure of Immatics. The options granted under the 2020 Equity Plan that gives employees the right to acquire shares in Immatics N.V., are accounted for as a modification under IFRS 2, with the incremental fair value expensed over the remaining vesting period.

The incremental fair value is the difference between the fair value of the options to purchase ordinary shares under the 2020 Equity Plan to acquire shares in Immatics N.V., and the fair value of the exchanged unvested SAR (both measured at the date on which the replacement award is issued).

Based on the terms of the Converted Options award agreements, the awards had a service commencement date in June 2020. However, the grant date criteria for these awards, as specified in IFRS 2 and the underlying award agreements, were not met until July 1, 2020.

Converted Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Converted Options outstanding on January 1,		2.64		566,311
Converted Options forfeited		1.35		7,738
Converted Options exercised		1.43		1,222
Converted Options expired		1.34		227
Converted Options outstanding on June 30,		2.66		557,124
Converted Options exercisable on June 30,		2.64		328,859
Weighted average remaining contract life (years)		5.51

Under the 2020 Plan and the 2022 Plan, Immatics also issues employee stock options with a service requirement (“Service Options”), to acquire shares of Immatics N.V. The service-based options for employees including management will vest solely on a four-year time-based vesting schedule. Under the 2022 Plan, annual service options for members of the Board of Directors will vest entirely after one year. Service Options are granted on a recurring basis.

The Company granted Service Options on March 22, 2022, on March 29, 2022, on June 14, 2022, and on June 30, 2022, which were accounted for using the respective grant date fair value. Immatics applied a Black Scholes pricing model to estimate the fair value of the Service Options, with a weighted average fair value of $5.84 for Service Option granted during the six months ended June 30, 2022.


	As of March 22, 2022			As of March 29, 2022			As of June 14, 2022			As of June 30, 2022
Exercise price in USD	$	7.40		$	8.15		$	7.94		$	8.71
Underlying share price in USD	$	7.40		$	8.15		$	7.94		$	8.71
Volatility		81.75	%		81.58	%		82.57	%		82.17	%
Time period (years)		6.11			6.11			5.58			6.08
Risk free rate		2.39	%		2.48	%		3.57	%		3.00	%
Dividend yield		0.00	%		0.00	%		0.00	%		0.00	%

Service Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Service Options outstanding on January 1,		10.57		3,725,619
Service Options granted in March,		7.94		104,963
Service Options granted in June,		8.25		523,945
Service Options forfeited		10.62		51,582
Service Options exercised		—		—
Service Options expired		9.97		1,189
Service Options outstanding on June 30,		10.22		4,301,756
Service Options exercisable on June 30,		9.97		802,615
Weighted average remaining contract life (years)		9.15

In addition, after the closing of the ARYA Merger certain executive officers and key personnel of the Group received under the 2020 Equity Plan performance-based options (“PSUs”), vesting based on both the achievement of market capitalization milestones and satisfaction of a four-year time-based vesting schedule. The PSUs are split into three equal tranches. The performance criteria for each of the three respective tranches requires Immatics to achieve a market capitalization of at least $1.5 billion, $2 billion and $3 billion, respectively.

A Monte-Carlo simulation model has been used to measure the fair value at grant date of the PSUs. This model incorporates the impact of the performance criteria regarding market capitalization described above in the calculation of the award’s fair value at grant date. In addition to the probability of achieving the market capitalization performance criteria, the inputs used in the measurements of the fair value at grant date of the PSUs were as follows:

PSUs outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number

PSUs outstanding on January 1,		10.08		3,696,000
PSUs granted		—		—
PSUs forfeited		—		—
PSUs outstanding on June 30,		10.08		3,696,000
PSUs exercisable on June 30,		—		—
Weighted average remaining contract life (years)		8.49

The Group recognized total employee-related share-based compensation expense, during the three and six months ended June 30, 2022 and 2021 as set out below:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(Euros in thousands)				(Euros in thousands)

Research and development expenses		3,107		4,676		6,375		9,574
General and administrative expenses		2,453		3,289		4,887		6,695

Total share-based compensation		5,560		7,965		11,262		16,269

The share-based compensation expense for the three and six months ended June 30, 2022 decreased, since the matching stock options issued under 2020 Equity Plan vested fully on July 31, 2021.

Related party disclosures	6 Months Ended
Related party disclosures	Jun. 30, 2022
Text Block [Abstract]
Related party disclosures	13. Related party disclosures During the three and six months ended June 30, 2022 the Group did not enter into any new related-party transactions with its key management personnel or with related entities other than the granting of a total of 340,000 Service options to its key management personnel and Board of Directors for the six months ended June 30, 2022.

Shareholders' equity	6 Months Ended
Shareholders' equity	Jun. 30, 2022
Text Block [Abstract]
Shareholders' equity	14. Shareholders’ equity During the three months ended June 30, 2022, the Group issued 2.4 million shares under the ATM agreement with SVB Securities LLC and collected a gross amount of €17.1 million less transaction costs of €0.5 million, resulting in a n increase in share capital of €24 thousand and share premium of €16.6 million.

Financial Instruments

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Financial Instruments

15. Financial Instruments

Set out below are the carrying amounts and fair values of the Group’s financial instruments that are carried in the interim condensed consolidated financial statements.


Euros in thousands		Carrying amount				Fair value
	IFRS 9	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
Financial assets
Bonds*	other financial assets at amortized cost		59,253		12,123		58,897		12,113
Accounts receivable	other financial assets at amortized cost		961		682		961		682
Other current/non-current assets	other financial assets at amortized cost		2,065		691		2,065		691

Total financial assets**			62,279		13,496		61,923		13,486

Financial liabilities
Accounts payable	other financial liabilities at amortized cost		13,284		11,624		13,284		11,624
Other current liabilities	other financial liabilities at amortized cost		1,336		727		1,336		727
Other financial liabilities	At fair value through profit or loss (FVTPL)		14,116		27,859		14,116		27,859

Total financial liabilities			28,736		40,210		28,736		40,210

*	Bonds are classified within Other financial assets.

**	Financial assets, other than cash and cash equivalents.

The carrying value of financial instruments, such as cash and cash equivalents, deposits, accounts receivable and accounts payable approximate their fair value based on the short-term maturities of these instruments. The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair values: All financial assets, except for derivatives, which are categorized Level 2, are categorized Level 1 and therefore are valued using quoted (unadjusted) market prices. All financial liabilities are also categorized Level 1.

Other financial

liabilities is comprised of the Immatics Warrants issued to investors with a cashless exercise mechanism as a current liability which the Company accounted for according to provisions of IAS 32. The Company measured the warrants at fair value

using the closing price of warrants at NASDAQ. The warrants were measured in each reporting period. Changes in the fair value were recognized in the Company’s consolidated statement of profit or loss as financial income or expense, as appropriate. The warrants were classified as level 1. Refer to note 7 for further details.

Events occurring after the reporting period	6 Months Ended
Events occurring after the reporting period	Jun. 30, 2022
Text Block [Abstract]
Events occurring after the reporting period	16. Events occurring after the reporting period The Company evaluated subsequent events for recognition or disclosure through August 9, 2022. After the reporting period, the Group issued 0.4 million shares under the ATM agreement with SVB Securities LLC and collected a gross amount of €3.7 million ($3.8 million).

Significant accounting policies (Policies)	6 Months Ended
Significant accounting policies (Policies)	Jun. 30, 2022
Text Block [Abstract]
Basis of presentation	Basis of presentation The interim condensed consolidated financial statements of the Group as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 have been prepared in accordance with International Accounting Standard 34 (“Interim Financial Reporting”), as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2021, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRS IC”). The interim condensed consolidated financial statements are presented in Euros. Amounts are stated in thousands of Euros, unless otherwise indicated. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2021. The new and amended standards and interpretations applicable for the first time as of January 1, 2022, as disclosed in the notes to the consolidated financial statements for the year ended December 31, 2021, had no impact on the interim condensed consolidated financial statements of the Group for the three and six months ended June 30, 2022. The Group reported basic and diluted earnings per share. Basic earnings per share are calculated by dividing the net profit or loss by the weighted-average number of ordinary shares outstanding for the reporting period. Diluted earnings per share for the six months ended June 30, 2022, are calculated by adjusting the weighted-average number of ordinary shares outstanding for any dilutive effects resulting from equity awards granted to the Board and employees of the Group as well as from publicly traded Immatics Warrants. The Group’s equity awards and Immatics Warrants for which the exercise price is exceeding the Groups weighted average share price for the six months ended June 30, 2022, are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares. The Group was loss-making during the three months ended June 30, 2022 as well as during the three and six months ended June 30, 2021, therefore all instruments are anti-dilutive instruments and are excluded in the calculation of diluted weighted average number of ordinary shares outstanding, including the outstanding equity awards and the 7,187,500 Immatics Warrants issued in 2020 and outstanding as of June 30, 2022. The Group determined its revenue recognition policies related to the new collaboration agreements signed during the six months ended June 30, 2022. Refer to section within the Note 2 for further details regarding the accounting treatment and significant estimates by the Group applied in connection with the determination of the accounting treatment of the collaboration agreements.

Other current and non-current assets (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of Other current assets


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)


Prepaid expenses		6,573		3,781
Value added tax receivable		947		915
Grant receivable		830		762
Other assets		2,336		950

Other current assets		10,686		6,408

Summary of Other non-current assets


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Prepaid expenses		4,678		636

Other non-current assets		4,678		636

Revenue from collaboration agreements (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of revenue from collaboration agreements explanatory

The

Group earned revenue from collaboration agreements from the following collaborators during the three and six months ended June 30, 2022 and 2021:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(Euros in thousands)				(Euros in thousands)

Amgen		—		260		—		517
Genmab		4,125		2,105		7,044		4,341
BMS		12,107		1,297		110,532		4,590
GSK		983		1,527		2,547		3,144

Total		17,215		5,189		120,123		12,592

Summary of Deferred revenue related to the collaboration agreements


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Current		78,394		50,402
Non-current		115,321		48,225

Total		193,715		98,627

Financial result (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of finance income and costs

Financial income and financial expenses consist of the following:


	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
	(Euros in thousands)						(Euros in thousands)

Interest income		69			38			75			87
Foreign currency gains		6,946			19			8,699			3,014
Gain on other financial instruments		—			156			—			—

Financial income		7,015			213			8,774			3,101

Interest expenses		(376	)		(140	)		(538	)		(245	)
Foreign currency losses		(31	)		(489	)		(986	)		(101	)
Losses on other financial instruments		—			—			—			(931	)

Financial expenses		(407	)		(629	)		(1,524	)		(1,277	)
Change in fair value of warrant liabilities		(2,786	)		(2,722	)		13,743			(3,936	)

Financial result		3,822			(3,138	)		20,993			(2,112	)

Provisions (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of provisions

Provisions consisted of the following as of June 30, 2022 and December 31, 2021:


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Other provision		51		51
Provision for bonuses		2,807		—

Total provisions		2,858		51

Other current liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of other current liabilities

Other current liabilities consisted of the following as of June 30, 2022 and December 31, 2021.


	As of
	June 30, 2022		December 31, 2021
	(Euros in thousands)

Income tax liability		1,145		—
Payroll tax		400		1,760
Accrual for vacation		1,194		607
Other		174		134

Total		2,913		2,501

Share-based payments (Tables)

6 Months Ended

Jun. 30, 2022

Statements [Line Items]

Summary of Employee Related Share Based Compensation Expense

The Group recognized total employee-related share-based compensation expense, during the three and six months ended June 30, 2022 and 2021 as set out below:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(Euros in thousands)				(Euros in thousands)

Research and development expenses		3,107		4,676		6,375		9,574
General and administrative expenses		2,453		3,289		4,887		6,695

Total share-based compensation		5,560		7,965		11,262		16,269

Matching Stock Options [Member]

Statements [Line Items]

Summary of Employee Share Options

Matching Stock Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Matching Stock Options outstanding on January 1,		10.00		1,406,468
Matching Stock Options forfeited		—		—
Matching Stock Options exercised		—		—
Matching Stock Options expired		10.00		1,638
Matching Stock Options outstanding on June 30,		10.00		1,404,830
Matching Stock Options exercisable on June 30,		10.00		1,404,830
Weighted average remaining contract life (years)		8.01

Converted Options [Member]

Statements [Line Items]

Summary of Employee Share Options

Converted Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Converted Options outstanding on January 1,		2.64		566,311
Converted Options forfeited		1.35		7,738
Converted Options exercised		1.43		1,222
Converted Options expired		1.34		227
Converted Options outstanding on June 30,		2.66		557,124
Converted Options exercisable on June 30,		2.64		328,859
Weighted average remaining contract life (years)		5.51

Additional Grants Under 2020 Plan [Member]

Statements [Line Items]

Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model

Immatics applied a Black Scholes pricing model to estimate the fair value of the Service Options


	As of March 22, 2022			As of March 29, 2022			As of June 14, 2022			As of June 30, 2022
Exercise price in USD	$	7.40		$	8.15		$	7.94		$	8.71
Underlying share price in USD	$	7.40		$	8.15		$	7.94		$	8.71
Volatility		81.75	%		81.58	%		82.57	%		82.17	%
Time period (years)		6.11			6.11			5.58			6.08
Risk free rate		2.39	%		2.48	%		3.57	%		3.00	%
Dividend yield		0.00	%		0.00	%		0.00	%		0.00	%

Summary of Employee Share Options

Service Options outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number
Service Options outstanding on January 1,		10.57		3,725,619
Service Options granted in March,		7.94		104,963
Service Options granted in June,		8.25		523,945
Service Options forfeited		10.62		51,582
Service Options exercised		—		—
Service Options expired		9.97		1,189
Service Options outstanding on June 30,		10.22		4,301,756
Service Options exercisable on June 30,		9.97		802,615
Weighted average remaining contract life (years)		9.15

Performance Based Options [Member]

Statements [Line Items]

Summary of Employee Share Options

PSUs outstanding as of June 30, 2022:


	2022
	Weighted average exercise price in USD		Number

PSUs outstanding on January 1,		10.08		3,696,000
PSUs granted		—		—
PSUs forfeited		—		—
PSUs outstanding on June 30,		10.08		3,696,000
PSUs exercisable on June 30,		—		—
Weighted average remaining contract life (years)		8.49

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Summary of Carrying Amounts and Fair values of Group's Financial Instruments

Set out below are the carrying amounts and fair values of the Group’s financial instruments that are carried in the interim condensed consolidated financial statements.


Euros in thousands		Carrying amount				Fair value
	IFRS 9	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
Financial assets
Bonds*	other financial assets at amortized cost		59,253		12,123		58,897		12,113
Accounts receivable	other financial assets at amortized cost		961		682		961		682
Other current/non-current assets	other financial assets at amortized cost		2,065		691		2,065		691

Total financial assets**			62,279		13,496		61,923		13,486

Financial liabilities
Accounts payable	other financial liabilities at amortized cost		13,284		11,624		13,284		11,624
Other current liabilities	other financial liabilities at amortized cost		1,336		727		1,336		727
Other financial liabilities	At fair value through profit or loss (FVTPL)		14,116		27,859		14,116		27,859

Total financial liabilities			28,736		40,210		28,736		40,210

*	Bonds are classified within Other financial assets.

**	Financial assets, other than cash and cash equivalents.

Group information - Additional Information (Detail)		3 Months Ended	6 Months Ended
Group information - Additional Information (Detail)	Aug. 09, 2022	Jun. 30, 2022	Jun. 30, 2022
Disclosure of non-adjusting events after reporting period [line items]
Date of end of reporting period		Jun. 30, 2022	Jun. 30, 2022
Authorization Of Financial Statements [Member]
Disclosure of non-adjusting events after reporting period [line items]
Date of authorisation for issue of financial statements	Aug. 09, 2022

Significant events and changes in the current reporting period - Additional information (Detail) € in Thousands, $ in Millions					3 Months Ended	6 Months Ended
	Jun. 01, 2022 EUR (€)	Jun. 01, 2022 USD ($)	Jan. 26, 2022 EUR (€)	Jan. 26, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Jan. 26, 2022 USD ($)	Dec. 31, 2021 EUR (€)
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Contract liabilities					€ 193,715	€ 193,715					€ 98,627
Immatics Biotechnologies GmbH [member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Transaction price allocation to performance obligation			€ 133,000							$ 150
License Development and Commercialization Agreement [member] \| Bristol Myer Squib Company [member] \| Immatics US Inc [member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Upfront payment received	€ 57,700	$ 60
Additional payment related to performance obligations received	4,800	5
Milestone regulatory and royaly payment receivable \| $							$ 700
Transaction price allocation to performance obligation					60,700	60,700
Revenue recognized during the period performance obligation					600
Amendment to the Strategic Collaboration Agreement [member] \| Bristol Myer Squib Company [member] \| Immatics Biotechnologies GmbH [member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Upfront payment received	€ 18,700	$ 20
Transaction price allocation to performance obligation					18,700	18,700	$ 20
Revenue recognized during the period performance obligation					0
BMS Agreement [Member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Contract liabilities					42,000	42,000
BMS Agreement [Member] \| Immatics Biotechnologies GmbH [member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Receipt of upfront of payment			€ 133,000	$ 150
Allocation of upfront payment towards clinical trial services and license grant								€ 133,000	$ 150
Allocation of upfront payment towards clinical trial services								42,000
Allocation of upfront payment towards license grant								€ 91,000
BMS Agreement [Member] \| Immatics Biotechnologies GmbH [member] \| Development Regulatory and Commercial Milestone [Member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Development regulatory and commercial milestone payments receivable \| $										$ 770
BMS Agreement [Member] \| Immatics Biotechnologies GmbH [member] \| IMA 401 License Grant [Member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Revenue from contracts with customers						91,000
BMS Agreement [Member] \| Immatics Biotechnologies GmbH [member] \| IMA 401 Clinical Trial Services [Member]
Disclosure of changes in accounting policies accounting estimates and errors [line items]
Revenue from contracts with customers					€ 2,800	€ 4,300

Significant accounting policies - Additional Information (Detail) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Warrants [Member] \| ARYA [Member]
Statements [Line Items]
Antidilutive securities excluded from the computation of earnings per share.	7,187,500	7,187,500

Other current and non-current assets - Summary of Other current assets (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Trade and other receivables [abstract]
Prepaid expenses	€ 6,573	€ 3,781
Value added tax receivable	947	915
Grant receivable	830	762
Other assets	2,336	950
Other current assets	€ 10,686	€ 6,408

Other current and non-current assets - Additional Information (Details) - EUR (€) € in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disclosure of subsidiaries [line items]
Prepaid insurance expenses	€ 200	€ 1,300
Prepaid expenses of licenses and software	4,500	500
Other assets	2,336	950
Non-current prepayments	4,678	636
Current prepaid maintenance expenses	500	800
Non current prepayment of licensing agreement	4,200
Non Current Prepayment Of Maintenance Expense	300
Receivables From Capital Gains Tax [Member]
Disclosure of subsidiaries [line items]
Other assets	300	300
Receivables From Lease Incentive [Member]
Disclosure of subsidiaries [line items]
Other Assets Lease Incentive Receivable	1,100
Celgene Switzerland LLC And Genmab AS [Member]
Disclosure of subsidiaries [line items]
Current Incremental cost for collaboration agreement	500	€ 700
Non-current prepayments	€ 200

Other current and non-current assets - Summary of Other non-current assets (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Trade and other non-current receivables [abstract]
Prepaid expenses	€ 4,678	€ 636
Other non-current assets	€ 4,678	€ 636

Revenue from collaboration agreements - Additional Information (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Revenue From Contract With Customers [Line Items]
Amortization of contract costs capitalized	€ 200	€ 100	€ 300	€ 100
Revenue from collaboration agreement of right to use license	17,215	5,189	120,123	12,592
BMS Collaboration Agreement [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Revenue from collaboration agreement of right to use license	12,107	€ 1,297	110,532	€ 4,590
Revenue from collaboration agreements			19,200
BMS Collaboration Agreement [Member] \| IMA401 [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Revenue from collaboration agreement of right to use license			91,300
Collaboration Agreement [Member]
Disclosure Of Revenue From Contract With Customers [Line Items]
Milestone or royalty payment receivable	€ 0		€ 0

Revenue from collaboration agreements - Summary of Deferred revenue related to the collaboration agreements (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue [abstract]
Current	€ 78,394	€ 50,402
Non-current	115,321	48,225
Total	€ 193,715	€ 98,627

Revenue from collaboration agreements - Summary of revenue from collaboration agreements (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	€ 17,215	€ 5,189	€ 120,123	€ 12,592
Amgen
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	0	260	0	517
Genmab
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	4,125	2,105	7,044	4,341
BMS
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	12,107	1,297	110,532	4,590
GSK
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	983	1,527	2,547	3,144
Total
Disclosure Of Revenue From Collaboration Agreements [Line Items]
Revenue from collaboration agreements	€ 17,215	€ 5,189	€ 120,123	€ 12,592

Financial result - Summary of finance income and costs (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Detailed Information About Finance Income Expense [Abstract]
Interest income	€ 69	€ 38	€ 75	€ 87
Foreign currency gains	6,946	19	8,699	3,014
Gain on other financial instruments	0	156	0	0
Financial income	7,015	213	8,774	3,101
Interest expenses	(376)	(140)	(538)	(245)
Foreign currency losses	(31)	(489)	(986)	(101)
Losses on other financial instruments	0	0	0	(931)
Financial expenses	(407)	(629)	(1,524)	(1,277)
Change in fair value of warrant liabilities	(2,786)	(2,722)	13,743	(3,936)
Financial result	€ 3,822	€ (3,138)	€ 20,993	€ (2,112)

Financial result - Additional Information (Details) € / shares in Units, € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 $ / shares	Mar. 31, 2022 € / shares
Statements [Line Items]
Change in fair value of warrant liabilities \| €	€ (2,786)	€ (2,722)	€ 13,743	€ (3,936)
Bottom of range [member]
Statements [Line Items]
Exercise Price of Warrants or Rights \| € / shares						€ 1.58
Top of range [member]
Statements [Line Items]
Exercise Price of Warrants or Rights \| $ / shares					$ 1.96

Income Tax - Additional Information (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Statements [Line Items]
statutory tax rate	28.50%	28.50%	28.50%	28.50%
Corporate income tax rate	21.00%	21.00%	21.00%	21.00%
Current tax liability	€ 1,145		€ 1,145		€ 0
GERMANY \| Immatics Biotechnologies GmbH [Member]
Statements [Line Items]
Current tax liability	€ 1,200		€ 1,200
Percentage of income that can be used to set off tax losses carry forward	60.00%
Percentage of pretax income subject to income tax	40.00%

Intangible assets, Property, plant and equipment and Right-of-use assets - Additional Information (Detail) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statements [Line Items]
Purchase of property, plant and equipment	€ 1.1	€ 1.8	€ 2.2	€ 2.4
Rental Land
Statements [Line Items]
Addition to right-of-use assets			€ 6.7

Provisions - Summary of Provisions (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Provisions [abstract]
Other provision	€ 51	€ 51
Provision for bonuses	2,807	0
Total provisions	€ 2,858	€ 51

Other current liabilities - Summary of other current liabilities (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disclosure of detailed information about other current liabilities [Line Items]
Income tax liability	€ 1,145	€ 0
Payroll tax	400	1,760
Accrual for vacation	1,194	607
Other	174	134
Total	€ 2,913	€ 2,501

Other current liabilities - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022
Non Interest Bearing Liability [Member]
Disclosure of detailed information about other current liabilities [Line Items]
Borrowings maturity	one year

Share-based payments - Summary of Options Granted Priced Using Black Scholes for SARs, Tandem Awards, Converted Options, Matching Stock Options and Monte Carlo Option Pricing Model (Detail) - Additional Grants Under 2020 Plan [Member]	Jun. 30, 2022 yr $ / shares	Jun. 14, 2022 yr $ / shares	Mar. 29, 2022 yr $ / shares	Mar. 22, 2022 yr $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 8.71	$ 7.94	$ 8.15	$ 7.4
Underlying share price	$ 8.71	$ 7.94	$ 8.15	$ 7.4
Volatility	82.17%	82.57%	81.58%	81.75%
Time period (years) \| yr	6.08	5.58	6.11	6.11
Risk free rate	3.00%	3.57%	2.48%	2.39%
Dividend yield	0.00%	0.00%	0.00%	0.00%

Share-based payments - Summary of Employee Share Options (Detail)	6 Months Ended
	Jun. 30, 2022 shares $ / shares
Performance Based Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1, \| $ / shares	$ 10.08
SARs granted \| $ / shares	0
SARs forfeited \| $ / shares	0
Weighted average exercise price, Outstanding at June 30 \| $ / shares	10.08
SARs exercisable \| $ / shares	$ 0
Number of share options, outstanding at January 1, \| shares	3,696,000
SARs granted \| shares	0
SARs forfeited \| shares	0
Number of share options, outstanding at June 30, \| shares	3,696,000
SARs exercisable \| shares	0
Weighted average remaining contract life (years)	8 years 5 months 26 days
Additional Grants Under 2020 Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1, \| $ / shares	$ 10.57
SARs forfeited \| $ / shares	10.62
SARs exercised \| $ / shares	0
SARs expired \| $ / shares	9.97
Weighted average exercise price, Outstanding at June 30 \| $ / shares	10.22
SARs exercisable \| $ / shares	$ 9.97
Number of share options, outstanding at January 1, \| shares	3,725,619
SARs forfeited \| shares	51,582
SARs exercised \| shares	0
SARs expired \| shares	1,189
Number of share options, outstanding at June 30, \| shares	4,301,756
SARs exercisable \| shares	802,615
Weighted average remaining contract life (years)	9 years 1 month 24 days
Additional Grants Under 2020 Plan [Member] \| Granted On March 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
SARs granted \| $ / shares	$ 7.94
SARs granted \| shares	104,963
Additional Grants Under 2020 Plan [Member] \| Granted On June 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
SARs granted \| $ / shares	$ 8.25
SARs granted \| shares	523,945
Converted Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1, \| $ / shares	$ 2.64
SARs forfeited \| $ / shares	1.35
SARs exercised \| $ / shares	1.43
SARs expired \| $ / shares	1.34
Weighted average exercise price, Outstanding at June 30 \| $ / shares	2.66
SARs exercisable \| $ / shares	$ 2.64
Number of share options, outstanding at January 1, \| shares	566,311
SARs forfeited \| shares	7,738
SARs exercised \| shares	1,222
SARs expired \| shares	227
Number of share options, outstanding at June 30, \| shares	557,124
SARs exercisable \| shares	328,859
Weighted average remaining contract life (years)	5 years 6 months 3 days
Matching Stock Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price, Outstanding at January 1, \| $ / shares	$ 10
SARs forfeited \| $ / shares	0
SARs exercised \| $ / shares	0
SARs expired \| $ / shares	10
Weighted average exercise price, Outstanding at June 30 \| $ / shares	10
SARs exercisable \| $ / shares	$ 10
Number of share options, outstanding at January 1, \| shares	1,406,468
SARs forfeited \| shares	0
SARs exercised \| shares	0
SARs expired \| shares	1,638
Number of share options, outstanding at June 30, \| shares	1,404,830
SARs exercisable \| shares	1,404,830
Weighted average remaining contract life (years)	8 years 3 days

Share-based payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Billions					6 Months Ended
	Jun. 30, 2022	Jun. 14, 2022	Mar. 29, 2022	Mar. 22, 2022	Jun. 30, 2022
Performance Based Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement exercise price per share granted					$ 0
Performance Based Options [Member] \| Tranche One [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization	$ 1.5				$ 1.5
Performance Based Options [Member] \| Tranche Two [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization	2.0				2.0
Performance Based Options [Member] \| Tranche Three [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Minimum market capitalization	$ 3.0				$ 3.0
Additional Grants Under 2020 Plan [Member] \| Granted On March 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement exercise price per share granted					$ 7.94
Share based compensation by share based payment arrangement fair value per share			$ 5.84	$ 5.84
Additional Grants Under 2020 Plan [Member] \| Granted On June 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement exercise price per share granted					$ 8.25
Share based compensation by share based payment arrangement fair value per share	$ 5.84	$ 5.84
Converted Options [Member] \| Granted On June 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment equity instruments other than shares vesting period					one year
Matching Stock Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based compensation by share based payment arrangement exercise price per share granted					$ 10
Share based compensation by share based payment arrangement term of stock options					ten-year
Date of vesting of stock options					Jul. 31, 2021

Share-based payments - Summary of Employee Related Share Based Compensation Expense (Detail) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	€ 5,560	€ 7,965	€ 11,262	€ 16,269
Research And Development Expense [Member]
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	3,107	4,676	6,375	9,574
General And Administrative Expense [Member]
Disclosure Of Detailed Information About Share Based Compensation Expense [Line Items]
Share-based compensation expense	€ 2,453	€ 3,289	€ 4,887	€ 6,695

Shareholders' equity - Additional Information (Detail) - EUR (€) € in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Disclosure of classes of share capital [line items]
Gross proceeds from issuance of shares		€ 17,112
At The Market Agreement [Member] \| SVB Securities LLC [Member]
Disclosure of classes of share capital [line items]
Increase decrease in shares outstanding	2,400,000
Gross proceeds from issuance of shares		17,100
Share issuance costs		500
Increase in share capital		24
Increase in share premium		€ 16,600

Financial Instruments - Summary of Carrying Amounts and Fair values of Group's Financial Instruments (Detail) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	€ 62,279	€ 13,496
Financial liabilities, Carrying amount	28,736	40,210
Financial assets, Fair value	61,923	13,486
Financial liabilities, Fair value	28,736	40,210
Financial assets at fair value through profit or loss, category [member] \| Other Financial Liabilities [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	14,116	27,859
Financial liabilities, Fair value	14,116	27,859
Other Financial Assets At Amortized Cost [Member] \| Trade receivables [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	961	682
Financial assets, Fair value	961	682
Other Financial Assets At Amortized Cost [Member] \| Other current/non-current assets [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	2,065	691
Financial assets, Fair value	2,065	691
Other Financial Assets At Amortized Cost [Member] \| Accounts Payable [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	13,284	11,624
Financial liabilities, Fair value	13,284	11,624
Other Financial Assets At Amortized Cost [Member] \| Other Current Liabilities [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, Carrying amount	1,336	727
Financial liabilities, Fair value	1,336	727
Other Financial Assets At Amortized Cost [Member] \| Bonds [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, Carrying amount	59,253	12,123
Financial assets, Fair value	€ 58,897	€ 12,113

Related party disclosures - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 shares
Key Management Personnel And Board Of Directors [Member] \| Service Options [Member]
Disclosure of transactions between related parties [line items]
Related Party Transaction Options Granted	340,000

Events occurring after the reporting period - Additional Information (Detail) - Issue Of Securities [Member] - SVB Securities LLC [Member] - At The Market Agreement [Member] € in Millions, shares in Millions, $ in Millions	Aug. 09, 2022 EUR (€) shares	Aug. 09, 2022 USD ($) shares
Events Occurring After The Reporting Period [Line Items]
Gross proceeds from issue of securities	€ 3.7	$ 3.8
Number of shares issued	0.4	0.4