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Will Kimmtrak Continue to Aid IMCR's Growth Through the Rest of 2026?
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Key Takeaways
Immunocore's Kimmtrak sales rose 16% year over year to $222.6 million in first-half 2026.
Kimmtrak adoption is gaining from physician awareness, broader reimbursement and geographic expansion.
Phase III data due as early as year-end 2026 could expand Kimmtrak's addressable patient population.
Immunocore’s (IMCR - Free Report) sole marketed drug, Kimmtrak (tebentafusp-tebn), which is approved for treating patients with unresectable or metastatic uveal melanoma (mUM), has been witnessing strong demand. Currently, the company’s top line solely comprises worldwide net product sales of Kimmtrak.
Since its approval and launch, Kimmtrak has established itself as the standard of care for eligible patients with metastatic uveal melanoma in most markets where it has been launched. The drug continues to witness healthy adoption, supported by increasing physician awareness, broader reimbursement coverage and geographic expansion.
Kimmtrak continues to generate solid sales growth globally. In the first half of 2026, Kimmtrak sales rose 16% year over year to $222.6 million. The strong commercial performance of Kimmtrak is expected to continue through the rest of 2026.
The continued uptake of Kimmtrak provides Immunocore with a growing commercial revenue base and supports the company's ability to fund investments in its broader pipeline.
Kimmtrak Label Expansion Could Be a Key Catalyst for IMCR
Several label expansion studies evaluating Kimmtrak both as monotherapy and in combination with other therapies are currently ongoing, targeting other settings for melanoma indications. Kimmtrak's growth prospects could extend beyond its current indication.
The registrational phase III TEBE-AM study is evaluating Kimmtrak as monotherapy and in combination with Merck’s (MRK - Free Report) PD-L1 inhibitor Keytruda (pembrolizumab) versus a control arm in previously treated advanced cutaneous melanoma. The primary endpoint of the study is overall survival. Top-line data from the same might be announced as early as the end of 2026.
Positive results could support an expansion of Kimmtrak's addressable patient population and provide an additional catalyst for IMCR stock.
Merck’s biggest revenue driver, Keytruda, is approved for several types of cancer indications. MRK recorded $16.40 billion in Keytruda sales in the first half of 2026, up 4.2% year over year.
Beyond Kimmtrak, Immunocore is advancing a diversified pipeline of ImmTAC candidates across multiple oncology indications. The company is developing brenetafusp, in combination with Bristol Myers’ (BMY - Free Report) blockbuster cancer drug, Opdivo (nivolumab), in the registrational phase III PRISM-MEL-301 study for treating first-line advanced cutaneous melanoma.
Brenetafusp 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.
BMY’s Opdivo, like Keytruda, is approved across multiple cancer types, including lung, melanoma and kidney cancers. Bristol Myers recorded $4.63 billion in Opdivo sales in the first half of 2026, down 3.9% year over year.
Shares of Immunocore have risen 5.5% year to date compared with the industry’s growth of 12.1%.
Image Source: Zacks Investment Research
Going by the price/sales ratio, IMCR shares currently trade at 3.60X forward sales, higher than the industry’s average of 1.93X but lower than its mean of 9.37X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings per share has moved up from 6 cents to 13 cents while the same for 2027 has declined from 65 cents to 48 cents over the past 30 days.
View the Zacks #1 Rank List
Image: Bigstock
Will Kimmtrak Continue to Aid IMCR's Growth Through the Rest of 2026?
Key Takeaways
Immunocore’s (IMCR - Free Report) sole marketed drug, Kimmtrak (tebentafusp-tebn), which is approved for treating patients with unresectable or metastatic uveal melanoma (mUM), has been witnessing strong demand. Currently, the company’s top line solely comprises worldwide net product sales of Kimmtrak.
Since its approval and launch, Kimmtrak has established itself as the standard of care for eligible patients with metastatic uveal melanoma in most markets where it has been launched. The drug continues to witness healthy adoption, supported by increasing physician awareness, broader reimbursement coverage and geographic expansion.
Kimmtrak continues to generate solid sales growth globally. In the first half of 2026, Kimmtrak sales rose 16% year over year to $222.6 million. The strong commercial performance of Kimmtrak is expected to continue through the rest of 2026.
The continued uptake of Kimmtrak provides Immunocore with a growing commercial revenue base and supports the company's ability to fund investments in its broader pipeline.
Kimmtrak Label Expansion Could Be a Key Catalyst for IMCR
Several label expansion studies evaluating Kimmtrak both as monotherapy and in combination with other therapies are currently ongoing, targeting other settings for melanoma indications. Kimmtrak's growth prospects could extend beyond its current indication.
The registrational phase III TEBE-AM study is evaluating Kimmtrak as monotherapy and in combination with Merck’s (MRK - Free Report) PD-L1 inhibitor Keytruda (pembrolizumab) versus a control arm in previously treated advanced cutaneous melanoma. The primary endpoint of the study is overall survival. Top-line data from the same might be announced as early as the end of 2026.
Positive results could support an expansion of Kimmtrak's addressable patient population and provide an additional catalyst for IMCR stock.
Merck’s biggest revenue driver, Keytruda, is approved for several types of cancer indications. MRK recorded $16.40 billion in Keytruda sales in the first half of 2026, up 4.2% year over year.
Beyond Kimmtrak, Immunocore is advancing a diversified pipeline of ImmTAC candidates across multiple oncology indications. The company is developing brenetafusp, in combination with Bristol Myers’ (BMY - Free Report) blockbuster cancer drug, Opdivo (nivolumab), in the registrational phase III PRISM-MEL-301 study for treating first-line advanced cutaneous melanoma.
Brenetafusp 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.
BMY’s Opdivo, like Keytruda, is approved across multiple cancer types, including lung, melanoma and kidney cancers. Bristol Myers recorded $4.63 billion in Opdivo sales in the first half of 2026, down 3.9% year over year.
IMCR Share Price Performance, Valuation & Estimates
Shares of Immunocore have risen 5.5% year to date compared with the industry’s growth of 12.1%.
Image Source: Zacks Investment Research
Going by the price/sales ratio, IMCR shares currently trade at 3.60X forward sales, higher than the industry’s average of 1.93X but lower than its mean of 9.37X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings per share has moved up from 6 cents to 13 cents while the same for 2027 has declined from 65 cents to 48 cents over the past 30 days.
Image Source: Zacks Investment Research
IMCR’s Zacks Rank
Immunocore currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.