Immunocore Holdings (IMCR) Company Report

Immunocore's commercial product, KIMMTRAK, achieved a significant milestone by exceeding $100 million in sales for the first time in the last quarter, demonstrating strong commercial momentum with approximately 68% US penetration and an extended real-world duration of therapy of about 14 months.
The company is expanding KIMMTRAK's potential with two ongoing Phase 3 trials: one in third-line cutaneous melanoma, targeting enrollment completion in H1 2026 and data readout as early as H2 2026, and another in the adjuvant setting for uveal melanoma.
Immunocore's PRAME bispecific is progressing in a Phase 3 trial for first-line cutaneous melanoma in combination with Nivolumab, with data expected around the end of 2027 or beginning of 2028. The company also anticipates data next year from its PRAME programs in ovarian, lung, and a half-life extended version.
The pipeline includes promising developments in infectious diseases, with encouraging Phase 1 data for its HBV program showing surface antigen reduction in four patients, and efforts towards a functional cure in HIV. Additionally, Immunocore is advancing programs in autoimmune diseases, with a Type 1 Diabetes program entering the clinic next year.
Immunocore reported a robust financial position, holding $892 million in cash as of the end of Q3.

Nov 19, 2025, 3:30 PM

Transcript

Immunocore Provides Business Update at Jefferies Healthcare Conference

IMCR

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

Immunocore's commercial product, KIMMTRAK, exceeded $100 million in sales for the first time in the last quarter, achieving 68% penetration in the US and demonstrating a real-world duration of therapy of approximately 14 months.
The company is advancing KIMMTRAK in two Phase 3 trials for cutaneous melanoma (third-line), with data expected as early as H2 2026, and in adjuvant settings.
Immunocore's PRAME bispecific is in a Phase 3 trial for first-line cutaneous melanoma, with data anticipated around the end of 2027 or beginning of 2028. Additionally, the company reported encouraging Phase 1 data for its HBV program.
Immunocore maintains a strong financial position with $892 million in cash as of the end of Q3.

Nov 19, 2025, 3:30 PM

Transcript

Immunocore Provides Update on KIMMTRAK Commercial Performance and Pipeline Progress

IMCR

Product Launch

New Projects/Investments

Guidance Update

Immunocore's commercial product, KIMMTRAK, exceeded $100 million in sales in the last quarter, with 68% penetration in the US and a real-world duration of therapy of approximately 14 months.
The company is advancing KIMMTRAK in two Phase 3 trials: for third-line cutaneous melanoma, with enrollment expected to finish in H1 2026 and data as early as H2 2026; and in adjuvant uveal melanoma, with enrollment progressing well.
Immunocore's PRAME program is in a Phase 3 trial for first-line cutaneous melanoma in combination with Nivolumab, with data anticipated around end of 2027 or beginning of 2028. Additional PRAME data for ovarian, lung, and a half-life extended version are expected next year.
The company is also progressing its infectious disease pipeline, with recent positive single ascending dose data for its HBV program showing four patients reduced surface antigen below a 0.2 log threshold. An autoimmune program for Type 1 diabetes is expected to enter the clinic next year.
Immunocore reported a strong financial position with $892 million in cash as of the end of Q3.

Nov 19, 2025, 3:30 PM

Transcript

Immunocore Holdings plc Reports Q3 2025 Financial Results and Business Update

IMCR

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

Immunocore Holdings plc reported KIMMTRAK net revenues of $103.7 million for the third quarter ended September 30, 2025, marking a 29% year-over-year increase compared to $80.2 million for the same period in 2024.
The company recorded a net loss of ($0.2) million for Q3 2025, compared to a net profit of $8.7 million in Q3 2024, with basic and diluted net loss per share at ($0.00).
As of September 30, 2025, Immunocore held $892 million in cash, cash equivalents, and marketable securities.
Key business updates include the Phase 3 TEBE-AM trial being on track to complete enrollment in 1H 2026, and the selection of 160 mcg as the go-forward dose for brenetafusp in the Phase 3 PRISM-MEL-301 trial. The company also expects to pay approximately $65 million in sales-related rebate accruals in the fourth quarter of 2025.

Nov 6, 2025, 12:31 PM

8-K

Immunocore Holdings Discusses KIMMTRAK Performance and Pipeline Advancement

IMCR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Immunocore's product, KIMMTRAK, generated $192 million in the first half of this year, representing a 32% growth rate over the same period last year, with future growth expected to moderate to 4%-7% quarterly sequential growth as the product matures in its current indication.
The company is advancing three Phase III trials for pipeline expansion: TEBI-AM (advanced cutaneous melanoma) with enrollment completing in H1 2026 and data expected in H2 2026, ADAM (adjuvant uveal melanoma) with a three-year enrollment period, and PRISM-mel (first-line cutaneous melanoma) with a dose selection triggered after 90 patients.
Immunocore maintains a robust balance sheet with almost $900 million of cash, enabling it to fund its pipeline for the foreseeable future, despite expected increases in R&D investments due to the ongoing Phase III trials.

Sep 10, 2025, 5:50 PM

Transcript

Immunocore Holdings Provides Business Update at Morgan Stanley Global Healthcare Conference

IMCR

New Projects/Investments

Guidance Update

Immunocore's lead product, KIMMTRAK, generated $192 million in the first half of 2025, representing 32% growth over the same period last year. While growth in its current indication is expected to moderate to 4% to 7% quarterly sequential growth, the company is pursuing two Phase III trials for lifecycle management: TEBI-AM for advanced cutaneous melanoma (data expected H2 2026) and ADAM for adjuvant uveal melanoma.
The company maintains a robust balance sheet with almost $900 million in cash, enabling it to fund its pipeline for the foreseeable future. Immunocore anticipates increased R&D investments due to three ongoing Phase III trials, while maintaining discipline in SG&A, which has been flat at around $40 million to $42 million per quarter.
Beyond KIMMTRAK, Immunocore is advancing its PRAME franchise with a Phase III study (PRISM-mel) in first-line cutaneous melanoma and other efforts, with data and next steps expected within the next 12 months. Early-stage pipeline includes infectious disease programs (HBV data later this year) and autoimmune programs (Type 1 diabetes CTA by end of 2025, CD1A CTA/IND in 2026).

Sep 10, 2025, 5:50 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Immunocore Holdings.

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