Immunocore Holdings plc
IMCR evidence brief
What we can confirm
- BioSniper Score:
- 9.2 / 10
- Market Cap:
- $1.82B
- Lead Asset:
- brenetafusp (Phase 3)
What it means
What to watch
Prepared research question
What matters most for IMCR—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IMCR
Immunocore Holdings plc (IMCR) is a commercial-stage biotechnology company that developed and markets KIMMTRAK (tebentafusp), the first approved therapy for metastatic uveal melanoma, and is advancing a pipeline of ImmTAX-based immunomodulating candidates for cancer, infectious diseases, and autoimmune diseases [sec · filed 2026-04-16].
Key risk: Single-product revenue dependence
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.82B
Cash Runway
—
Lead Asset
brenetafusp (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 9 pipeline candidates · 3 clinical trials for Immunocore Holdings plc.
Immunocore Holdings plc (IMCR) is a commercial-stage biotechnology company that developed and markets KIMMTRAK (tebentafusp), the first approved therapy for metastatic uveal melanoma, and is advancing a pipeline of ImmTAX-based immunomodulating candidates for cancer, infectious diseases, and autoimmune diseases [sec · filed 2026-04-16].
- KIMMTRAK (tebentafusp) is approved in 39 countries and commercially launched in over 30 countries, including the U.S., Germany, and France [sec_mda · as of 2026-08-06].
- Over 5,000 cancer patients have been treated with KIMMTRAK and other ImmTAX product candidates, described as the largest clinical data set of any T cell engager bispecific in solid tumors [sec_mda · as of 2026-08-06].
- Cash & equivalents were $484.9M as of 2026-06-30, with total revenue of $115.9M and a net loss of -$0.8M for the period [sec].
- The company's proprietary ImmTAX platform is used to develop product candidates in oncology, infectious disease, and autoimmune disease [sec · filed 2026-04-16].
- A Phase 3 study of IMC-F106C plus nivolumab versus nivolumab regimens in advanced melanoma (PRISM-MEL-301) began in 2024 [catalyst].
What works
- KIMMTRAK is the first approved therapy for metastatic uveal melanoma and has achieved broad regulatory approval in 39 countries, indicating strong market access [sec_mda · as of 2026-08-06].
- The company has a deep pipeline across three therapeutic areas (oncology, infectious disease, autoimmune) supported by the proprietary ImmTAX platform, providing multiple shots on goal [sec · filed 2026-04-16].
- With $484.9M in cash and equivalents as of 2026-06-30, Immunocore has substantial financial resources to fund ongoing R&D and operations [sec].
What to weigh
- The company reported a net loss of -$0.8M for the period ending 2026-06-30, indicating it is not yet consistently profitable [sec].
- Immunocore is dependent on a single approved product (KIMMTRAK) for current revenue, and future revenue from other candidates is uncertain until clinical development and regulatory approval are achieved [sec_mda · as of 2026-08-06].
- The company may need additional funding to support continued operations and clinical development, and there is no guarantee that financing will be available on favorable terms [sec_mda · as of 2026-08-06].
From the filings
Quoted directly from source documents.
KIMMTRAK is approved in 39 countries and launched in over 30.
“KIMMTRAK is now approved in 39 countries and we have commercially launched KIMMTRAK in over 30 countries, including the United States, Germany and France, among other territories.”
SEC MD&A · August 6, 2026
Over 5,000 cancer patients treated with KIMMTRAK and other ImmTAX candidates.
“To date, we have treated over 5,000 cancer patients with KIMMTRAK, and our other ImmTAX product candidates, which we believe is the largest clinical data set of any T cell engager bispecific in solid tumors and any TCR therapeutic.”
SEC MD&A · August 6, 2026
Phase 3 study of IMC-F106C plus nivolumab started in 2024.
“Phase3_Start: A Phase 3 Randomized, Controlled Study of IMC-F106C Plus Nivolumab Versus Nivolumab Regimens in HLA-A*02:01-Positive Participants With Previously Untreated Advanced Melanoma (PRISM-MEL-301”
Catalysts · June 5, 2024
Catalyst timeline
- 2020-02-25 · Phase 1/2 Study of IMC-F106C in Advance PRAME-Positive Cancers — This early-stage study is evaluating IMC-F106C as a single agent and in combination; data readouts may inform further development.
- 2024-06-05 · Phase 3 Randomized, Controlled Study of IMC-F106C Plus Nivolumab Versus Nivolumab Regimens in HLA-A*02:01-Positive Participants With Previously Untreated Advanced Melanoma (PRISM-MEL-301) — This pivotal trial compares IMC-F106C plus nivolumab to nivolumab regimens; results could support a future regulatory filing.
- 2024-11-07 · Phase 1 First-in-Human Study of the Safety and Efficacy of IMC-P115C as a Single Agent and in Combination With Standard of Care Agents in HLA-A*02:01 Positive Participants With Advanced PRAME Positive Cancers — This first-in-human study of IMC-P115C will provide initial safety and efficacy data for this new candidate.
Risks & what to watch (3)›
Key risks
- Single-product revenue dependence — KIMMTRAK is the only approved product; no other candidates have generated revenue, making the company vulnerable to any setback with this drug [sec_mda · as of 2026-08-06].
- Ongoing net losses — Net loss of -$0.8M for the period ending 2026-06-30 shows the company is not yet profitable [sec].
- Future funding uncertainty — Additional financing may be needed to support operations and clinical trials, and favorable terms are not guaranteed [sec_mda · as of 2026-08-06].
What to watch
- Progress of the Phase 3 PRISM-MEL-301 study of IMC-F106C plus nivolumab in advanced melanoma, which began in 2024 [catalyst].
- Initial data from the Phase 1/2 study of IMC-F106C in PRAME-positive cancers, which started in 2020 [catalyst].
- Any updates on the Phase 1 first-in-human study of IMC-P115C, which began in 2024 [catalyst].
- Financial performance in subsequent quarters, particularly whether net losses narrow or the company achieves profitability [sec].
Sources: Catalysts · SEC filings · SEC MD&A · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 1.67 · 0% dilution
Lead: Approved
9 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
142
Total value held
$1.48B
| Holder | Shares | Value |
|---|---|---|
| rtw investments, lp | 4,869,798 | $146.8M |
| fmr llc | 4,829,154 | $145.6M |
| wellington management group llp | 4,706,168 | $141.9M |
| primecap management co/ca/ | 3,693,241 | $111.4M |
| bellevue group ag | 2,796,803 | $84.3M |
| vestal point capital, lp | 2,766,868 | $83.4M |
| tang capital management llc | 2,649,368 | $79.9M |
| deep track capital, lp | 1,931,884 | $58.2M |
| logos global management lp | 1,500,000 | $45.2M |
| bvf inc/il | 1,294,463 | $39.0M |
Showing top 10 of 142 institutional holders of Immunocore Holdings plc. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 19.6%
- Days to cover
- 19.7
- Shares short
- 8,969,565
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IMCR short interestGovernance
Frequently asked questions
What is the AI investment thesis for Immunocore Holdings plc?
Immunocore Holdings plc (IMCR) is a commercial-stage biotechnology company that developed and markets KIMMTRAK (tebentafusp), the first approved therapy for metastatic uveal melanoma, and is advancing a pipeline of ImmTAX-based immunomodulating candidates for cancer, infectious diseases, and autoimmune diseases [sec · filed 2026-04-16].
What is Immunocore Holdings plc's lead drug candidate?
Immunocore Holdings plc's most advanced tracked candidate is brenetafusp (Phase 3) for Advanced Melanoma; Select Advanced Solid Tumors.
Who is the CEO of Immunocore Holdings plc?
Dr. Bahija Jallal Ph.D. is the chief executive officer of Immunocore Holdings plc (IMCR).
Where is Immunocore Holdings plc headquartered?
Immunocore Holdings plc (IMCR) is headquartered in Abingdon, United Kingdom.
What therapeutic areas does Immunocore Holdings plc focus on?
Immunocore Holdings plc develops therapies across Oncology, Immunology, Infectious Disease, Metabolic, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.