Researchers will develop therapies for urea cycle disorders and create a platform to rapidly develop treatments for other rare genetic disorders.

The firm will use the court-administered restructuring process to pursue strategic alternatives so it can continue developing vaccines and immunotherapies.

Immatics raised $175 million in a previous public stock offering earlier this year, and $110 million in a previous private stock offering in October 2022.

The firm is evaluating leniolisib, which is already approved and sold under the brand name Joenja for APDS, in certain primary immunodeficiencies with immune dysregulation.