Immunocore Q1 Revenue at $106.68M, Below Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy IMCR?
Reports Q1 revenue $106.68M, consensus $107.08M. "We are proud to report another quarter of strong commercial performance, with KIMMTRAK generating $107 million in net revenues in Q1 2026," said Bahija Jallal, CEO of Immunocore. "The five-year overall survival (OS) data from our Phase 3 trial presented at AACR is a landmark moment. It is the longest OS follow-up ever reported in a randomized trial in metastatic uveal melanoma and underscores the long-term benefit KIMMTRAK delivers to patients. In parallel, we are executing with discipline across our pipeline."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy IMCR?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on IMCR
Wall Street analysts forecast IMCR stock price to rise
9 Analyst Rating
7 Buy
2 Hold
0 Sell
Strong Buy
Current: 29.580
Low
37.00
Averages
64.56
High
100.00
Current: 29.580
Low
37.00
Averages
64.56
High
100.00
About IMCR
Immunocore Holdings plc is a United Kingdom-based commercial-stage biotechnology company. The Company is engaged in the development of TCR bispecific immunotherapies, ImmTAX, which immunes mobilizing monoclonal TCRs against X disease, designed to treat a range of diseases, including cancer, autoimmune and infectious disease. The Company has a pipeline of clinical-stage programs in oncology and infectious diseases, as well as numerous pre-clinical projects. Its lead product, KIMMTRAK, is a TCR therapeutic for the treatment of patients with unresectable or metastatic uveal melanoma (mUM), in the United States, European Union, Canada, Australia and the United Kingdom. Its pipeline products include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-M113V, IMC-I109V, IMC-S118AI, and IMC-U120AI, among others. Its clinical programs are being conducted with patients with a range of cancers including melanoma, ovarian, lung, colorectal and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Immunocore Q1 Earnings Beat Expectations
- Earnings Beat: Immunocore reported a Q1 GAAP EPS of $0.25, exceeding expectations by $0.47, indicating strong profitability that may boost investor confidence in the company's financial health.
- Revenue Miss: The revenue of $106.68 million, while up 13.6% year-over-year, fell short of expectations by $3.7 million, reflecting increased market competition and sales challenges that could impact future growth outlook.
- Strong Cash Position: As of March 31, 2026, Immunocore held $844.9 million in cash, cash equivalents, and marketable securities, providing financial flexibility for R&D and operations, which supports long-term strategic initiatives.
- Positive Market Reaction: Despite the revenue miss, the earnings beat may lead to a short-term stock price increase, as investors remain optimistic about the company's growth potential, particularly in the context of ongoing innovation in the biopharmaceutical sector.
See More
Immunocore Holdings Shares Show Oversold Signal
- Oversold Indicator Analysis: Immunocore Holdings PLC's relative strength index (RSI) has dropped to 29.5, indicating that the stock has entered oversold territory, which may attract bullish investors looking for buying opportunities, reflecting that the recent heavy selling is gradually exhausting.
- Price Fluctuation Details: The company's stock price hit a low of $28.435, with the current trading price at $28.56, only $1.12 above the 52-week low of $27.44, indicating market interest and potential rebound opportunities for the stock.
- Market Comparison Analysis: Compared to the current RSI of 68.0 for the S&P 500 ETF (SPY), IMCR's low RSI value may suggest that its relative value is undervalued, prompting investors to consider increasing their positions to capture future rebounds.
- Historical Performance Review: IMCR's 52-week high stands at $40.7147, and the current stock price shows a significant gap from this peak, reflecting fluctuations in market confidence that may provide potential buying opportunities for investors.
See More
KIMMTRAK Doubles Five-Year Survival Rate for Metastatic Uveal Melanoma Patients
- Survival Rate Improvement: KIMMTRAK has achieved a five-year survival rate of 16% in HLA-A*02:01 positive metastatic uveal melanoma patients, doubling the rate of the control group, demonstrating its significant impact on patient prognosis.
- Clinical Trial Data: In a randomized trial involving 378 patients, the median overall survival for the KIMMTRAK group was 21.6 months, significantly surpassing the 16.9 months observed in the control group, indicating the drug's potential in extending survival.
- Treatment Continuation: In the KIMMTRAK group, 57% of patients continued treatment beyond disease progression compared to only 25% in the control group, highlighting the drug's tolerability and the willingness of patients to continue therapy.
- Prognostic Factor Impact: KIMMTRAK demonstrated survival benefits even in patients with known poor prognostic factors such as high tumor burden and elevated LDH, further solidifying its position as a first-line treatment.
See More
KIMMTRAK Doubles Five-Year Survival Rate for Metastatic Uveal Melanoma Patients
- Significant Survival Improvement: KIMMTRAK demonstrated a five-year survival rate of 16% in a randomized trial of 378 patients, doubling the rate compared to the control group, indicating its potential to redefine treatment standards for metastatic uveal melanoma.
- Long-Term Follow-Up Data: This study provides the longest survival follow-up data, with a median overall survival of 21.6 months for KIMMTRAK compared to 16.9 months for the control group, showcasing its durable efficacy and enhancing physician confidence in discussing long-term survival with patients.
- Treatment Response Analysis: In the KIMMTRAK group, 57% of patients continued treatment beyond disease progression, achieving a tumor reduction rate of 27% compared to just 4% in the control group, suggesting that KIMMTRAK may offer better survival opportunities even after disease progression.
- Prognostic Factor Impact: The study confirmed that the survival benefit of KIMMTRAK was significant even in patients with known poor prognostic factors, such as high tumor burden and extrahepatic disease, further solidifying its position as a first-line treatment and potentially offering hope to more patients.
See More
Immunocore (IMCR) Q4 2025 Earnings Call Transcript
See More
Immunocore Q4 Earnings Report Analysis
- Disappointing Earnings: Immunocore reported a Q4 GAAP EPS of -$0.60, missing expectations by $0.42, indicating challenges in profitability that may affect investor confidence.
- Lackluster Revenue Growth: Although revenue increased by 24.3% year-over-year to $104.48 million, it fell short of expectations by $3.29 million, reflecting intensified market competition and a need for strategic adjustments in sales.
- Strong Cash Reserves: As of December 31, 2025, Immunocore held $864.2 million in cash, cash equivalents, and marketable securities, ensuring ample funding for future R&D and operations, thereby enhancing financial stability.
- Uncertain Market Outlook: Immunocore's presentation at the J.P. Morgan Healthcare Conference garnered attention, yet the current financial data may lead to diminished investor confidence regarding its future growth prospects.
See More
Immunocore Q1 Earnings Beat Expectations
- Earnings Beat: Immunocore reported a Q1 GAAP EPS of $0.25, exceeding expectations by $0.47, indicating strong profitability that may boost investor confidence in the company's financial health.
- Revenue Miss: The revenue of $106.68 million, while up 13.6% year-over-year, fell short of expectations by $3.7 million, reflecting increased market competition and sales challenges that could impact future growth outlook.
- Strong Cash Position: As of March 31, 2026, Immunocore held $844.9 million in cash, cash equivalents, and marketable securities, providing financial flexibility for R&D and operations, which supports long-term strategic initiatives.
- Positive Market Reaction: Despite the revenue miss, the earnings beat may lead to a short-term stock price increase, as investors remain optimistic about the company's growth potential, particularly in the context of ongoing innovation in the biopharmaceutical sector.
See More
Immunocore Holdings Shares Show Oversold Signal
- Oversold Indicator Analysis: Immunocore Holdings PLC's relative strength index (RSI) has dropped to 29.5, indicating that the stock has entered oversold territory, which may attract bullish investors looking for buying opportunities, reflecting that the recent heavy selling is gradually exhausting.
- Price Fluctuation Details: The company's stock price hit a low of $28.435, with the current trading price at $28.56, only $1.12 above the 52-week low of $27.44, indicating market interest and potential rebound opportunities for the stock.
- Market Comparison Analysis: Compared to the current RSI of 68.0 for the S&P 500 ETF (SPY), IMCR's low RSI value may suggest that its relative value is undervalued, prompting investors to consider increasing their positions to capture future rebounds.
- Historical Performance Review: IMCR's 52-week high stands at $40.7147, and the current stock price shows a significant gap from this peak, reflecting fluctuations in market confidence that may provide potential buying opportunities for investors.
See More
KIMMTRAK Doubles Five-Year Survival Rate for Metastatic Uveal Melanoma Patients
- Survival Rate Improvement: KIMMTRAK has achieved a five-year survival rate of 16% in HLA-A*02:01 positive metastatic uveal melanoma patients, doubling the rate of the control group, demonstrating its significant impact on patient prognosis.
- Clinical Trial Data: In a randomized trial involving 378 patients, the median overall survival for the KIMMTRAK group was 21.6 months, significantly surpassing the 16.9 months observed in the control group, indicating the drug's potential in extending survival.
- Treatment Continuation: In the KIMMTRAK group, 57% of patients continued treatment beyond disease progression compared to only 25% in the control group, highlighting the drug's tolerability and the willingness of patients to continue therapy.
- Prognostic Factor Impact: KIMMTRAK demonstrated survival benefits even in patients with known poor prognostic factors such as high tumor burden and elevated LDH, further solidifying its position as a first-line treatment.
See More
KIMMTRAK Doubles Five-Year Survival Rate for Metastatic Uveal Melanoma Patients
- Significant Survival Improvement: KIMMTRAK demonstrated a five-year survival rate of 16% in a randomized trial of 378 patients, doubling the rate compared to the control group, indicating its potential to redefine treatment standards for metastatic uveal melanoma.
- Long-Term Follow-Up Data: This study provides the longest survival follow-up data, with a median overall survival of 21.6 months for KIMMTRAK compared to 16.9 months for the control group, showcasing its durable efficacy and enhancing physician confidence in discussing long-term survival with patients.
- Treatment Response Analysis: In the KIMMTRAK group, 57% of patients continued treatment beyond disease progression, achieving a tumor reduction rate of 27% compared to just 4% in the control group, suggesting that KIMMTRAK may offer better survival opportunities even after disease progression.
- Prognostic Factor Impact: The study confirmed that the survival benefit of KIMMTRAK was significant even in patients with known poor prognostic factors, such as high tumor burden and extrahepatic disease, further solidifying its position as a first-line treatment and potentially offering hope to more patients.
See More
Immunocore (IMCR) Q4 2025 Earnings Call Transcript
See More
Immunocore Q4 Earnings Report Analysis
- Disappointing Earnings: Immunocore reported a Q4 GAAP EPS of -$0.60, missing expectations by $0.42, indicating challenges in profitability that may affect investor confidence.
- Lackluster Revenue Growth: Although revenue increased by 24.3% year-over-year to $104.48 million, it fell short of expectations by $3.29 million, reflecting intensified market competition and a need for strategic adjustments in sales.
- Strong Cash Reserves: As of December 31, 2025, Immunocore held $864.2 million in cash, cash equivalents, and marketable securities, ensuring ample funding for future R&D and operations, thereby enhancing financial stability.
- Uncertain Market Outlook: Immunocore's presentation at the J.P. Morgan Healthcare Conference garnered attention, yet the current financial data may lead to diminished investor confidence regarding its future growth prospects.
See More
