Financial Instruments

6 Months Ended

Jun. 30, 2022

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.