Immunocore (IMCR) investor relations material

Executive summary

• Achieved net income of $13.0 million for Q1 2026, up from $5.0 million in Q1 2025, driven by increased KIMMTRAK sales and global expansion.

• KIMMTRAK is now approved in 39 countries and commercially launched in over 30, with over 2,000 patients treated to date.

• Five-year overall survival data from the pivotal Phase 3 KIMMTRAK trial showed a doubling of survival rates in unresectable or metastatic uveal melanoma.

Financial highlights

• Q1 2026 revenue was $106.7 million, a 13.6% increase year-over-year, primarily from KIMMTRAK sales in the US and Europe.

• R&D expenses rose 8.2% to $61.1 million, reflecting increased clinical trial activity, especially for PRAME programs.

• SG&A expenses decreased 5.8% to $37.9 million, mainly due to higher share-based compensation forfeitures.

• Cash and cash equivalents stood at $452.7 million, with marketable securities of $392.2 million as of March 31, 2026.

• Working capital increased to $763.7 million from $750.0 million at year-end 2025.

Outlook and guidance

• Existing cash, marketable securities, and anticipated KIMMTRAK revenue expected to fund operations for at least 12 months.

• Continued investment in R&D and global expansion of KIMMTRAK anticipated to drive future expenses.

• Additional financing may be sought to support long-term clinical development and commercialization.