Immunocore Holdings PLC
immunocore.comWhat Do They Do?
Sells KIMMTRAK for uveal melanoma to distributors and healthcare providers, and develops immune-targeting therapies for cancer, infectious diseases and autoimmune diseases.
10-K for FY2025, filed Feb 25, 2026In 2022, we received approval for our lead product, KIMMTRAK, for the treatment of unresectable or metastatic uveal melanoma ("mUM") from…View ↗
We are currently leveraging our platform within three therapeutic areas: cancer, infectious diseases, and autoimmune diseases. Our oncology…View ↗
The Company’s main customers in the United States and Europe are its distributors. These distributors are invoiced at contractual list…View ↗
In certain countries, the Company’s customers are hospitals and healthcare providers, where KIMMTRAK is sold through an agent acting on the…View ↗
How Do They Make Money?
Distributors are typically given one to two months to pay for KIMMTRAK, and sales count when delivered. Historically, collaboration partners paid for technology rights and research services, with revenue from that work earned over time.
10-K for FY2025, filed Feb 25, 2026Revenue from sale of therapies, net relates to the sale of KIMMTRAK following marketing approval and the sale of tebentafusp under a…View ↗
The Company’s main customers in the United States and Europe are its distributors. These distributors are invoiced at contractual list…View ↗
Under its historical collaboration agreements, the Company granted rights to technology with respect to the development of specified…View ↗
Revenue is recognized using an estimate of percentage completion which takes into consideration the estimated timelines required to satisfy…View ↗
Under the Genentech agreement signed in November 2018, the Company received aggregate non-refundable payments totaling $100 million…View ↗
$400M
-
10-K for FY2025, filed Feb 25, 2026
$400M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Revenue from sale of therapies, net
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
100%
FY2022: 81%
|
Revenue from sale of therapies, net, FY2025
$400M Sources
|
Sold outright |
|
Collaboration revenue
|
0.0%
FY2022: 19%
|
Collaboration revenue, FY2025
$0 Sources
|
Who Are Their Customers?
In the United States and Europe, distributors are the main customers; in some countries, hospitals and healthcare providers receive KIMMTRAK through an agent. Medison and Er-Kim distribute the treatment in contracted territories.
10-K for FY2025, filed Feb 25, 2026The Company’s main customers in the United States and Europe are its distributors. These distributors are invoiced at contractual list…View ↗
In certain countries, the Company’s customers are hospitals and healthcare providers, where KIMMTRAK is sold through an agent acting on the…View ↗
Medison is the exclusive distribution partner for KIMMTRAK in Canada, Australia, New Zealand, Israel, Central and Eastern Europe, South and…View ↗
10-K for FY2025, filed Feb 25, 2026
The Company recognized revenues from four customers accounting for 23%, 23%, 17% and 18% of the Company’s revenue from sale of therapies…View ↗
Do Revenues Turn Into Profits?
No. It lost $35.5M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$45.4MView ↗
10-K for FY2025, filed Feb 25, 2026
−$35.5MView ↗
10-K for FY2025, filed Feb 25, 2026
−$15.1MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$808KView ↗
- ▼ −92% (Loss)
- vs −$10.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 11.0x in 4 years, from $36.5M in FY2021 to $400M in FY2025, about 82% a year.
Autoimmune programs move toward clinical testing
The older report described autoimmune programs as preclinical; the latest says Immunocore submitted a clinical-trial application for an autoimmune candidate and plans a filing for another.
20-F for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026We are a commercial-stage biotechnology company pioneering the development of a novel class of TCR bispecific immunotherapies called ImmTAX…View ↗
IMC-S118AI is our ImmTAAI molecule specifically targeted to the pancreatic beta-cells for disease modifying treatment in type 1 diabetes.…View ↗
Who Do They Compete With?
Competes with Adaptimmune Therapeutics, Immatics, Adaptive, pure MHC, BioNTech, Genentech, Enara Bio, Boehringer Ingelheim International, Anocca, T-Knife, 3T Biosciences, Regeneron, Takara Bio, AstraZeneca, Lion TCR, TCRCure Biopharma, Corregene Biotechnology, TScan, Molecular Partners, and Crossbow Therapeutics
10-K for FY2025, filed Feb 25, 2026We face competition from segments of the pharmaceutical, biotechnology and other related markets that pursue the development of TCR-based…View ↗
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