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Immunocore's Q2 Earnings Miss Estimates, Kimmtrak Aids Y/Y Revenues
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Key Takeaways
Immunocore's Q2 loss widened to 2 cents per share, compared with the consensus estimate of a 1-cent loss.
Kimmtrak sales rose 18.3% to $115.93 million, led by higher demand across U.S. and international markets.
Immunocore ended Q2 with $880.2 million in cash, cash equivalents and marketable securities.
Immunocore Holdings plc (IMCR - Free Report) incurred a loss of 2 cents per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 1 cent per share. In the year-ago quarter, the company had incurred a loss of 20 cents per share.
Second-quarter revenues were $115.9 million, increasing 18.3% year over year, mainly on higher volumes of its sole marketed drug, Kimmtrak (tebentafusp-tebn), in the United States and international regions. The top line beat the Zacks Consensus Estimate of $114 million.
Immunocore's top line solely comprised worldwide net product sales of Kimmtrak.
Year to date, shares of Immunocore have lost 0.6% against the industry’s rise of 4.4%.
Image Source: Zacks Investment Research
IMCR’s Q2 Earnings in Detail
Kimmtrak generated $74.9 million in U.S. sales, $34.1 million in Europe and $6.9 million across international regions during the second quarter. U.S. quarterly sales rose 17% year over year, while combined Europe and international sales increased 21% on higher demand.
Management noted that U.S. second-quarter sales included roughly $6 million of distributor inventory stocking, which is expected to create a headwind in the third quarter. Excluding this stocking effect, underlying sequential quarterly growth was 3%. Kimmtrak has been launched in more than 30 countries globally. The drug continues to be the standard of care in all major markets where it is launched.
Research and development expenses increased around 7.2% year over year to $73.9 million in the second quarter. The increase primarily reflected advancement of clinical programs, including three phase III studies.
Selling, general and administrative expenses rose 2.6% year over year to $43.9 million.
As of June 30, 2026, Immunocore had cash, cash equivalents and marketable securities worth $880.2 million compared with $844.9 million as of March 31, 2026.
IMCR’s Recent Key Updates
The registrational phase III TEBE-AM study is evaluating Kimmtrak as monotherapy and in combination with Keytruda (pembrolizumab) versus a control arm in previously treated advanced cutaneous melanoma. The primary endpoint of the study is overall survival. Enrollment in the phase III TEBE-AM study is nearing the target of 540 patients. Top-line data from the same can be announced as early as the end of 2026.
Meanwhile, the EORTC-sponsored phase III ATOM study in high-risk adjuvant uveal melanoma continues to expand its site footprint and is now enrolling patients in the United States.
Beyond Kimmtrak, Immunocore is advancing a diversified pipeline of ImmTAC candidates across multiple oncology indications. Brenetafusp is the company’s lead PRAME-A02 ImmTAC bispecific candidate. The registrational phase III PRISM-MEL-301 study is evaluating brenetafusp in combination with Opdivo (nivolumab) for treating first-line advanced cutaneous melanoma. The candidate is also being investigated in early-to-mid-stage studies both as monotherapy and as combination therapy in multiple tumor types, including ovarian cancer and non-small cell lung cancer.
Immunocore is also progressing in earlier-stage programs targeting colorectal cancer and other gastrointestinal cancers as well as certain infectious diseases and autoimmune diseases using its proprietary T-cell receptor platform.
Immunocore Holdings PLC Sponsored ADR Price, Consensus and EPS Surprise
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.62, while estimates for 2027 have increased from $3.64 to $4.07 during the same time. HRMY shares have gained 3.5% year to date.
Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%.
Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 2.7% year to date.
Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 159.3% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.
View the Zacks #1 Rank List
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Immunocore's Q2 Earnings Miss Estimates, Kimmtrak Aids Y/Y Revenues
Key Takeaways
Immunocore Holdings plc (IMCR - Free Report) incurred a loss of 2 cents per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 1 cent per share. In the year-ago quarter, the company had incurred a loss of 20 cents per share.
Second-quarter revenues were $115.9 million, increasing 18.3% year over year, mainly on higher volumes of its sole marketed drug, Kimmtrak (tebentafusp-tebn), in the United States and international regions. The top line beat the Zacks Consensus Estimate of $114 million.
Immunocore's top line solely comprised worldwide net product sales of Kimmtrak.
Year to date, shares of Immunocore have lost 0.6% against the industry’s rise of 4.4%.
Image Source: Zacks Investment Research
IMCR’s Q2 Earnings in Detail
Kimmtrak generated $74.9 million in U.S. sales, $34.1 million in Europe and $6.9 million across international regions during the second quarter. U.S. quarterly sales rose 17% year over year, while combined Europe and international sales increased 21% on higher demand.
Management noted that U.S. second-quarter sales included roughly $6 million of distributor inventory stocking, which is expected to create a headwind in the third quarter. Excluding this stocking effect, underlying sequential quarterly growth was 3%. Kimmtrak has been launched in more than 30 countries globally. The drug continues to be the standard of care in all major markets where it is launched.
Research and development expenses increased around 7.2% year over year to $73.9 million in the second quarter. The increase primarily reflected advancement of clinical programs, including three phase III studies.
Selling, general and administrative expenses rose 2.6% year over year to $43.9 million.
As of June 30, 2026, Immunocore had cash, cash equivalents and marketable securities worth $880.2 million compared with $844.9 million as of March 31, 2026.
IMCR’s Recent Key Updates
The registrational phase III TEBE-AM study is evaluating Kimmtrak as monotherapy and in combination with Keytruda (pembrolizumab) versus a control arm in previously treated advanced cutaneous melanoma. The primary endpoint of the study is overall survival. Enrollment in the phase III TEBE-AM study is nearing the target of 540 patients. Top-line data from the same can be announced as early as the end of 2026.
Meanwhile, the EORTC-sponsored phase III ATOM study in high-risk adjuvant uveal melanoma continues to expand its site footprint and is now enrolling patients in the United States.
Beyond Kimmtrak, Immunocore is advancing a diversified pipeline of ImmTAC candidates across multiple oncology indications. Brenetafusp is the company’s lead PRAME-A02 ImmTAC bispecific candidate. The registrational phase III PRISM-MEL-301 study is evaluating brenetafusp in combination with Opdivo (nivolumab) for treating first-line advanced cutaneous melanoma. The candidate is also being investigated in early-to-mid-stage studies both as monotherapy and as combination therapy in multiple tumor types, including ovarian cancer and non-small cell lung cancer.
Immunocore is also progressing in earlier-stage programs targeting colorectal cancer and other gastrointestinal cancers as well as certain infectious diseases and autoimmune diseases using its proprietary T-cell receptor platform.
Immunocore Holdings PLC Sponsored ADR Price, Consensus and EPS Surprise
Immunocore Holdings PLC Sponsored ADR price-consensus-eps-surprise-chart | Immunocore Holdings PLC Sponsored ADR Quote
IMCR’s Zacks Rank & Other Stocks to Consider
Immunocore currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are Harmony Biosciences (HRMY - Free Report) , Repligen (RGEN - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.62, while estimates for 2027 have increased from $3.64 to $4.07 during the same time. HRMY shares have gained 3.5% year to date.
Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%.
Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 2.7% year to date.
Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 159.3% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.