Immunocore Holdings plc
IMCR evidence brief
What we can confirm
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 is a biotechnology company focused on developing T cell receptor (TCR)-based bispecific immunotherapies for cancer, infectious diseases, and autoimmune conditions, with a lead program in PRISM MEL Phase 3 and an HIV functional cure candidate in clinical development.
Key risk: Need for additional funding
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.89B
Cash Runway
—
Lead Asset
brenetafusp (Phase 3)
Next Catalyst
Phase3_Topline · Oct 16, 2027Financial data as of Jun 30, 2026.
Tracking 9 pipeline candidates · 3 clinical trials · 1 catalyst for Immunocore Holdings plc.
Immunocore Holdings plc is a biotechnology company focused on developing T cell receptor (TCR)-based bispecific immunotherapies for cancer, infectious diseases, and autoimmune conditions, with a lead program in PRISM MEL Phase 3 and an HIV functional cure candidate in clinical development.
- Immunocore is advancing a pipeline of TCR-based bispecific therapies, including a Phase 3 trial (PRISM MEL) for IMC-F106C plus nivolumab versus nivolumab regimens in HLA- patients [sec · filed 2026-04-16].
- The company reported net income of $12.2 million for the six months ended June 30, 2026, compared to a net loss of $5.3 million in the prior period [sec_mda · as of 2026-08-06].
- Cash and equivalents were $484.9 million as of June 30, 2026 [latest reported financials (as of 2026-06-30)].
- Initial multiple ascending dose data for an HIV functional cure candidate were presented at CROI 2025 [sec · filed 2026-04-16].
- The company has incurred significant operating losses and expects to continue incurring significant expenses and operating losses for the near future [sec_mda · as of 2026-08-06].
What works
- Immunocore achieved net income of $12.2 million for the six months ended June 30, 2026, indicating a period of profitability [sec_mda · as of 2026-08-06].
- The company has a robust cash position of $484.9 million as of June 30, 2026, providing a runway to fund operations and clinical development [latest reported financials (as of 2026-06-30)].
- Pipeline progress includes dose selection for the PRISM MEL Phase 3 trial achieved ahead of a stretch goal and early leads for new targeted therapies identified for further consideration in 2026 [sec · filed 2026-04-16].
What to weigh
- Immunocore has incurred significant operating losses and expects to continue incurring significant expenses and operating losses for the near future [sec_mda · as of 2026-08-06].
- The company may need additional funding to support continued operations and clinical development, and may be unable to raise funds on favorable terms or at all [sec_mda · as of 2026-08-06].
- Revenue from product candidates is uncertain until clinical development and regulatory approval are achieved, and the company may never generate sufficient revenue from product sales [sec_mda · as of 2026-08-06].
From the filings
Quoted directly from source documents.
Immunocore reported net income for the six months ended June 30, 2026.
“We had net income of $12.2 million and a net loss of $5.3 million for the six months ended June”
SEC MD&A · August 6, 2026
HIV functional cure candidate data presented at CROI 2025.
“Initial multiple ascending dose data for HIV functional cure candidate presented in an oral presentation at CROI 2025”
SEC filings · April 16, 2026
Catalyst timeline
- 2027-10-16 · Phase3_Topline · imc-f106c — Phase 3 Topline: A Phase 3 Randomized, Controlled Study of IMC-F106C Plus Nivolumab Versus Nivolumab Regimens in HLA- — Topline data from the Phase 3 trial of IMC-F106C plus nivolumab will be a key readout for the pipeline.
Risks & what to watch (3)›
Key risks
- Need for additional funding — The company may need additional funding to support operations and clinical development, and may not secure it on favorable terms [sec_mda · as of 2026-08-06].
- Uncertain revenue generation — Revenue from product candidates is uncertain until regulatory approval; the company may never generate sufficient product sales [sec_mda · as of 2026-08-06].
- Continued operating losses — Immunocore expects to continue incurring significant operating losses for the near future [sec_mda · as of 2026-08-06].
What to watch
- Phase 3 topline data for IMC-F106C plus nivolumab versus nivolumab regimens, expected on 2027-10-16 [upcoming catalysts].
- Progress of the HIV functional cure candidate following initial data presented at CROI 2025 [sec · filed 2026-04-16].
- Ability to secure additional financing given the company's reliance on external funding for continued operations [sec_mda · as of 2026-08-06].
Sources: SEC filings · SEC MD&A · Generated August 29, 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
Financial health data unavailable
Lead: Approved
9 candidates
1 upcoming, next in ~412d
No insider transactions in the last 180 days
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
140
Total value held
$1.35B
| 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 |
| tang capital management llc | 2,649,368 | $79.9M |
| caption management, llc | 1,934,286 | $58.3M |
| deep track capital, lp | 1,931,884 | $58.2M |
| bvf inc/il | 1,294,463 | $39.0M |
| millennium management llc | 1,237,403 | $37.3M |
| janus henderson group plc | 1,189,424 | $35.8M |
Showing top 10 of 140 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 interestFrequently asked questions
What is the AI investment thesis for Immunocore Holdings plc?
Immunocore Holdings plc is a biotechnology company focused on developing T cell receptor (TCR)-based bispecific immunotherapies for cancer, infectious diseases, and autoimmune conditions, with a lead program in PRISM MEL Phase 3 and an HIV functional cure candidate in clinical development.
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.
What is Immunocore Holdings plc's next catalyst?
Immunocore Holdings plc's next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 3 Randomized, Controlled Study of IMC-F106C Plus Nivolumab Versus Nivolumab Regimens in HLA-" — expected October 16, 2027.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.