Immunocore (IMCR) Q3 2026 earnings summary

Executive summary

• Q3 KIMMTRAK net sales were $102.2M vs. $103.7M a year earlier; 9M sales rose 9.9% to $324.8M, with growth across the U.S., Europe and international markets.

• More than 5,000 patients have been treated with KIMMTRAK and other ImmTAX candidates; KIMMTRAK was approved in 39 countries and launched in more than 30.

Financial highlights

• Q3 net loss was $14.2M, or $0.28 per share, vs. $0.2M, or $0.00 per share; 9M net loss narrowed to $2.1M, or $0.04 per share, from $5.5M, or $0.11 per share.

• Q3 operating loss was $13.6M vs. $7.2M; 9M operating loss was $9.3M vs. $25.7M.

• Q3 R&D expense rose to $74.7M from $70.6M; SG&A was $40.5M vs. $39.8M.

• 9M R&D expense increased 7.0% to $209.8M; SG&A decreased to $122.2M from $122.8M.

Outlook and guidance

• TEBE-AM topline overall survival data are expected in Q2 2027; the Phase 3 trial completed enrollment of 540 patients.

• A randomized Phase 2/3 DUET-UVEAL trial of KIMMTRAK plus brenetafusp is planned for HLA-A*02:01-positive metastatic uveal melanoma.

• A CTA or IND for autoimmune candidate IMC-U120AI is planned before year-end; brenetafusp ovarian and lung cohort data are expected at a medical conference later this year.

• Cash, cash equivalents, marketable securities and anticipated KIMMTRAK revenue are expected to fund operating expenses and capital needs for at least 12 months from filing.

• Expenses and operating losses are expected to rise as KIMMTRAK expands geographically and clinical and preclinical programs advance.