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Financial Risk Management Objectives and Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
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Summary of Currency Risk Exposure | Cash, cash equivalents and financial assets Immatics N.V.
|  | Year ended December 31, |
|  | 2020 |
|  | (Euros in thousands) |
Cash and cash equivalents |  |  | 42,528 |
Financial assets |  |  | — |
Total assets exposed to the risk |  |  | 42,528 |
Conversion rate EUR/USD as reporting date 1/1.2271 Cash, cash equivalents and financial assets Immatics GmbH
|  | Year ended December 31, |
|  | 2020 |
|  | (Euros in thousands) |
Cash and cash equivalents |  |  | 52,015 |
Financial assets |  |  | 24,448 |
Total assets exposed to the risk |  |  | 76,463 |
Summary of Sensitivity Analysis of Foreign Currency Risk | Sensitivity analysis Immatics N.V.:
|  | Conversion rate |  |  | Profit/(loss) |  |  | Carrying amount |
|  | (Euros in thousands) |
Euro weakens by 1% against U.S. dollars |  |  | 1.2394 |  |  |  | (421 | ) |  |  | 42,107 |
Euro strengths by 1% against U.S. dollars |  |  | 1.2148 |  |  |  | 430 |  |  |  | 42,958 |
Euro weakens by 5% against U.S. dollars |  |  | 1.2885 |  |  |  | (2,025 | ) |  |  | 40,503 |
Euro strengths by 5% against U.S. dollars |  |  | 1.1657 |  |  |  | 2,238 |  |  |  | 44,766 |
Euro weakens by 10% against U.S. dollars |  |  | 1.3498 |  |  |  | (3,866 | ) |  |  | 38,662 |
Euro strengths by 10% against U.S. dollars |  |  | 1.1044 |  |  |  | 4,725 |  |  |  | 47,253 |
Sensitivity analysis Immatics GmbH:
|  | Conversion rate |  |  | Profit/(loss) |  |  | Carrying amount |
|  | (Euros in thousands) |
Euro weakens by 1% against U.S. dollars |  |  | 1.2394 |  |  |  | (757 | ) |  |  | 75,706 |
Euro strengths by 1% against U.S. dollars |  |  | 1.2148 |  |  |  | 772 |  |  |  | 77,235 |
Euro weakens by 5% against U.S. dollars |  |  | 1.2885 |  |  |  | (3,641 | ) |  |  | 72,822 |
Euro strengths by 5% against U.S. dollars |  |  | 1.1657 |  |  |  | 4,024 |  |  |  | 80,487 |
Euro weakens by 10% against U.S. dollars |  |  | 1.3498 |  |  |  | (6,951 | ) |  |  | 69,512 |
Euro strengths by 10% against U.S. dollars |  |  | 1.1044 |  |  |  | 8,496 |  |  |  | 84,959 |
Summary of Liquidity Risk | As of December 31, 2020, and 2019, the Group held the following funds which are expected to generate cash inflows in time, to counteract liquidity risk.
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |
|  | (Euros in thousands) |
Cash and cash equivalents |  |  | 207,530 |  |  |  | 103,353 |
Short-term deposits |  |  | 24,448 |  |  |  | 16,023 |
Total funds available |  |  | 231,978 |  |  |  | 119,376 |
Market risk and currency risk of warrants The Group’s activities expose it to the financial risks of changes in price of the warrants. As the warrants are recognised at fair value on the consolidated statement of financial position of the Group, the Group’s exposure to market risks results from the volatility of the warrants price. The Warrants are publicly traded at the NASDAQ Stock Exchange. A reasonable increase (decrease) in the warrant price by 10%, with all other variables held constant, would lead to a (loss) gain before tax of €1.7 million with a corresponding effect in the equity. Currency risk shows the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The warrants are traded in U.S. Dollar while the functional currency of Immatics N.V. is Euro. A reasonably increase (decrease) in the U.S. Dollar / Euro exchange rate by 10%, with all other variables held constant, would lead to a gain (loss) before tax of €1.9 million / (1.5 million) with a corresponding effect in the equity. The risks associated with our warrants result in non-cash, non-operating financial statement effects and have no impact on the Company’s cash position, operating expenses or cash flows.

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