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Share-based payments (Tables) | 12 Months Ended
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Dec. 31, 2020
Statements [Line Items] |
Summary of Employee Related Share Based Compensation Expense | The Group recognized total employee-related share-based compensation expense from all plans for the years ended December 31, 2020, 2019 and 2018 as set out below:
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (Euros in thousands) |
Research and development expenses |  |  | 14,546 |  |  |  | 1,556 |  |  |  | 238 |
General and administrative expenses |  |  | 10,973 |  |  |  | 460 |  |  |  | 100 |
Total share-based compensation |  |  | 25,519 |  |  |  | 2,016 |  |  |  | 338 |
Share Appreciation Rights [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 |
|  | December 31, |
Amounts in USD |  | 2019 |  |  | 2018 |
Exercise price |  | $ | 1.12 |  |  | $ | 1.12 |
Underlying share price |  | $ | 67.87 |  |  | $ | 27.21 |
Volatility |  |  | 73 | % |  |  | 64 | %
Time period (years) |  |  | 1.25 |  |  |  | 5.00 |
Risk free rate |  |  | 1.59 | % |  |  | 2.77 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Combined probability of exit events |  |  | 80.00 | % |  |  | 25.00 | %
Summary of Employee Share Options | Set out below are summaries of SARs issued during 2019 and 2018:
|  | 2019 |  |  | 2018 |
|  | Weighted average exercise price in USD |  |  | Number |  |  | Weighted average exercise price in USD |  |  | Number |
SARs outstanding at January 1, |  | $ | 1.12 |  |  |  | 43,675 |  |  | $ | 1.12 |  |  |  | 43,978 |
SARs granted |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |
SARs forfeited |  |  | 1.12 |  |  |  | 220 |  |  |  | 1.12 |  |  |  | 303 |
SARs outstanding at December 31, |  |  | 1.12 |  |  |  | 43,455 |  |  |  | 1.12 |  |  |  | 43,675 |
SARs vested |  | $ | 1.12 |  |  |  | 117 |  |  | $ | 1.12 |  |  |  | 169 |
SARs exercisable |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |
2016 Tandem Awards [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 | The fair value of tandem awards issued in December 2019 was based on a company valuation of $350 million.
Amounts in USD |  | December 2019 |  |  | June 2019 - September 2019 |  |  | December 2018 |
Exercise price in USD |  | $ | 23.82 |  |  | $ | 18.30 |  |  | $ | 16.65 |
Underlying share price in USD |  | $ | 67.87 |  |  | $ | 16.94 |  |  | $ | 27.21 |
Volatility |  |  | 73 | % |  |  | 78 | % |  |  | 64 | %
Time period (years) |  |  | 1.25 |  |  |  | 2.10 |  |  |  | 5.00 |
Risk free rate |  |  | 1.59 | % |  |  | 2.04 | % |  |  | 2.77 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Combined probability of exit events |  |  | 80.00 | % |  |  | 60.00 | % |  |  | 25.00 | %
Summary of Activities Under Share Based Payment Arrangement | Set out below are summaries of tandem awards issued during 2019 and 2018:
|  | 2019 |  |  | 2018 |
|  | Weighted average exercise price in USD |  |  | Number |  |  | Weighted average exercise price in USD |  |  | Number |
Tandem Awards outstanding at January 1, |  | $ | 16.65 |  |  |  | 74,401 |  |  | $ | 16.65 |  |  |  | 31,880 |
Tandem awards granted in June to September |  |  | 18.30 |  |  |  | 26,557 |  |  |  | 16.65 |  |  |  | 43,964 |
Tandem awards granted in December |  |  | 23.82 |  |  |  | 5,447 |  |  |  |  |  |  |  |  |
Tandem awards forfeited |  |  | 16.81 |  |  |  | 2,936 |  |  |  | 16.65 |  |  |  | 1,443 |
Tandem awards outstanding at December 31, |  |  | 17.45 |  |  |  | 103,469 |  |  |  | 16.65 |  |  |  | 74,401 |
Tandem awards vested |  | $ | 16.76 |  |  |  | 16,238 |  |  | $ | 16.65 |  |  |  | 14,350 |
Tandem awards exercisable |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |
Weighted average remaining contract life (years) |  |  | 8.56 |  |  |  |  |  |  |  | 9.12 |  |  |  |  |
Weighted average fair value of options granted in USD till September |  |  | 10.27 |  |  |  |  |  |  |  | 4.51 |  |  |  |  |
Weighted average fair value of options granted in USD for December |  |  | 53.41 |  |  |  |  |  |  |  | — |  |  |  |  |
Matching Stock Options [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 Matching Stock Options, which the Group records as an expense over the four-year graded vesting period.
|  | As of June 30, 2020 |
Exercise price in USD |  | $ | 10.00 |
Underlying share price in USD |  | $ | 15.15 |
Volatility |  |  | 75 | %
Time period (years) |  |  | 5.5 |
Risk free rate |  |  | 0.29 | %
Dividend yield |  |  | 0.00 | %
Summary of Employee Share Options | Set out below are summaries of Matching Stock Options issued during 2020:
|  | 2020 |
|  | Weighted average exercise price in USD |  |  | Number |
Matching Stock Options outstanding on January 1, |  |  | — |  |  |  | — |
Matching Stock Options granted in June |  |  | 10.00 |  |  |  | 1,430,818 |
Matching Stock Options forfeited |  |  | 10.00 |  |  |  | 8,262 |
Matching Stock Options outstanding at December 31, |  |  | 10.00 |  |  |  | 1,422,556 |
Matching Stock Options vested |  |  | — |  |  |  | — |
Weighted average remaining contract life (years) |  |  | 9.50 |  |  |  |  |
Weighted average fair value of options granted in USD for June |  |  | 10.59 |  |  |  |  |
Converted Options [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 Converted Options.
|  | As of June 30, 2020 |
Average exercise price in USD |  | $ | 2.47 |
Underlying share price in USD |  | $ | 15.15 |
Volatility |  |  | 75 | %
Time period (years) |  |  | 5.6 |
Risk free rate |  |  | 0.29 | %
Dividend yield |  |  | 0.00 | %
Summary of Employee Share Options | Set out below are summaries of Converted Options issued during 2020:
|  | 2020 |
|  | Weighted average exercise price in USD |  |  | Number |
Converted Options outstanding on January 1, |  |  | — |  |  |  | — |
Converted Options granted in June |  |  | 2.49 |  |  |  | 632,384 |
Converted Options forfeited |  |  | 1.08 |  |  |  | 37,540 |
Converted Options outstanding on December 31, |  |  | 2.58 |  |  |  | 594,844 |
Converted Options vested |  | $ | 2.45 |  |  |  | 53,856 |
Weighted average remaining contract life (years) |  |  | 7.01 |  |  |  |  |
Weighted average fair value of options granted in USD for June |  |  | 4.83 |  |  |  |  |
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 June 30, 2020 |  |  | As of September 14, 2020 |  |  | As of December 17, 2020 |
Exercise price in USD |  | $ | 10.00 |  |  | $ | 10.00 |  |  | $ | 9.70 |
Underlying share price in USD |  | $ | 15.15 |  |  | $ | 9.16 |  |  | $ | 9.70 |
Volatility |  |  | 75 | % |  |  | 79 | % |  |  | 84 | %
Time period (years) |  |  | 7.0 |  |  |  | 6.2 |  |  |  | 6.0 |
Risk free rate |  |  | 0.29 | % |  |  | 0.37 | % |  |  | 0.49 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Summary of Employee Share Options | Set out below are summaries of Service Options issued during 2020:
|  | 2020 |
|  | Weighted average exercise price in USD |  |  | Number |
Service Options outstanding on January 1, |  |  | — |  |  |  | — |
Service Options granted in June |  |  | 10.00 |  |  |  | 1,087,417 |
Service Options granted in September |  |  | 9.72 |  |  |  | 74,000 |
Service Options granted in December |  |  | 9.70 |  |  |  | 802,149 |
Service Options forfeited |  |  | 10.00 |  |  |  | 53,384 |
Service Options outstanding on December 31, |  |  | 9.87 |  |  |  | 1,910,182 |
Service Options vested |  |  | — |  |  |  | — |
Weighted average remaining contract life (years) |  |  | 9.72 |  |  |  |  |
Weighted average fair value of options granted in USD for June |  |  | 11.29 |  |  |  |  |
Weighted average fair value of options granted in USD for September |  |  | 9.25 |  |  |  |  |
Weighted average fair value of options granted in USD for December |  |  | 6.73 |  |  |  |  |
Performance Based Options [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 | 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:
|  | As of June 30, 2020 |  |  | As of September 14, 2020 |
Exercise price in USD |  | $ | 10.00 |  |  | $ | 10.00 |
Underlying share price in USD |  | $ | 15.15 |  |  | $ | 9.16 |
Volatility |  |  | 79 | % |  |  | 78 | %
Time period (years) |  |  | 7.0 |  |  |  | 6.7 |
Risk free rate |  |  | 0.66 | % |  |  | 0.67 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Summary of Employee Share Options | Set out below are summaries of PSUs issued during 2020:
|  | 2020 |
|  | Weighted average exercise price in USD |  |  | Number |
PSUs outstanding on January 1, |  |  | — |  |  |  | — |
PSUs granted in June |  |  | 10.00 |  |  |  | 3,644,000 |
PSUs granted in September |  |  | 10.00 |  |  |  | 255,000 |
PSUs forfeited |  |  | 10.00 |  |  |  | 255,000 |
PSUs outstanding on December 31, |  |  | 10.00 |  |  |  | 3,644,000 |
PSUs vested |  |  | — |  |  |  | — |
Weighted average remaining contract life (years) |  |  | 9.60 |  |  |  |  |
Weighted average fair value of options granted in USD for June |  |  | 11.10 |  |  |  |  |
Weighted average fair value of options granted in USD for September |  |  | 6.41 |  |  |  |  |

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