Financial Risk Management Objectives and Policies (Tables)

12 Months Ended

Dec. 31, 2020

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.