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Immunocore — Q3 2026 Earnings Summary

  • Q3 2026 net product revenue declined 1.4% year-over-year to $102.2 million due to wholesaler stocking and calendar effects, though normalized underlying growth was approximately 10%; nine-month revenue grew 10% to $324.8 million, while net loss narrowed to $2.1 million for the period compared to $5.5 million in 2025.
  • The company expects to incur approximately $120 million in sales-related rebate accruals in Q4 2026 and maintains a strong liquidity position with $901.3 million in cash and marketable securities as of September 30, 2026.
  • Key clinical milestones include the full enrollment of the Phase 3 TEBE-AM trial for cutaneous melanoma, the first patient dosed in the IMC-S118AI type 1 diabetes program, and top-line overall survival data for TEBE-AM expected in Q2 2027.
  • Strategic advancements include the filing of a CTA/IND for IMC-U120AI before year-end, the initiation of the Phase 2/3 DUET-UVEAL combination trial, and the acceptance of five-year overall survival data for KIMMTRAK by the European Medicines Agency.
Company
IMMUNOCORE HOLDINGS PLC
Sector
Healthcare
Industry
Biotechnology