IMTX - Immatics: Big Pharma Partners Intriguing Catalysts Make Buy Case

2024-04-27 10:32:07 ET

Summary

• Immatics, a German biotech company, achieved its Nasdaq listing in 2020 through a merger with Arya Sciences Acquisition Corp, a SPAC sponsored by Perceptive Advisors.
• The company focuses on developing T-cell receptor-based immunotherapies for solid tumors with unmet medical needs.
• Immatics has partnerships with Bristol Myers Squibb, Moderna, and Editas, and is advancing multiple candidates in clinical studies.
• While the outcome of the company's studies cannot be forecast with certainty, success ought to deliver a substantial uplift in valuation, given the markets being targeted.
• This well-funded company has two major data readouts due 2H24, and a pivotal study initiation in melanoma - the risk reward is attractive.

Investment Overview

Immatics ( IMTX ), based in Tuebingen, Germany, achieved its Nasdaq listing in 2020, via a business combination with Arya Sciences Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Perceptive Advisors. According to Harvard Business Review :

A SPAC is a publicly traded corporation with a two-year life span formed with the sole purpose of effecting a merger, or “combination,” with a privately held business to enable it to go public. SPACs raise money largely from public-equity investors and have the potential to derisk and shorten the IPO process for their target companies, often offering them better terms than a traditional IPO would.

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