Immunocore announced its fourth quarter and full-year 2025 financial results, reporting KIMMTRAK (tebentafusp-tebn) net sales of $104.5 million for Q4 and $400.0 million for the full year. The company expects revenue growth moderation in 2026. TEBE-AM enrollment completion is anticipated in the first half of 2026, with topline data expected by the second half. Immunocore plans to present PRAME franchise Phase 1/2 data and additional Phase 1 HIV data in the second half of 2026. The company had $864.2 million in cash, cash equivalents, and marketable securities as of December 31, 2025.

Immunocore has shown commercial momentum with 15 consecutive quarters of KIMMTRAK revenue growth. The company is enrolling in Phase 3 trials for potential new melanoma indications, including TEBE-AM and ATOM, and preparing for PRISM-MEL-301 to evaluate brenetafusp in first-line melanoma. The late-line cutaneous melanoma trial (TEBE-AM) remains on track for completion in the first half of 2026. Immunocore also plans to present data from ovarian and NSCLC expansion cohorts in the second half of 2026.

The company is progressing beyond oncology by advancing its clinical pipeline into other tumor types and the HIV functional cure program. Immunocore plans to enter the clinic with its first autoimmune candidate in the first half of 2026. Immunocore CEO Bahija Jallal emphasized the company’s focus on clinical trial execution in 2026 to develop medicines that can significantly improve patient lives. Immunocore reported total net product revenue of $104.5 million for Q4 2025 and $400.0 million for the full year, with net loss of $30.1 million for Q4 and $35.5 million for the full year. Cash, cash equivalents, and marketable securities were $864.2 million as of December 31, 2025. In 2025, KIMMTRAK reported a 24% increase in net product sales for the fourth quarter at $104.5 million and a 29% increase for the year at $400.0 million. Sales grew by 13% in the US and 79% in Europe, with the average treatment duration reaching 14 months.

The Company is enrolling patients in the TEBE-AM Phase 3 trial for advanced cutaneous melanoma, expecting to complete enrollment in the first half of 2026. The trial includes tebentafusp monotherapy, tebentafusp with pembrolizumab, and a control arm. There is an unmet need for post-checkpoint inhibitor treatments.

The EORTC is expanding the site footprint of the ATOM Phase 3 Adjuvant Trial for uveal melanoma, estimating a potential patient population of up to 1,200 high-risk individuals in the US and Europe.

Brenetafusp, the lead PRAME-A02 ImmTAC bispecific candidate, is being evaluated in a Phase 3 trial for advanced cutaneous melanoma and in combination with nivolumab across various tumor types.

The PRISM-MEL-301 Phase 3 trial for advanced cutaneous melanoma has progressed with a recommended dose of 160 mcg. The trial targets HLA-A*02:01 positive patients, aiming to address around 10,000 individuals in the US and Europe.

Ongoing Phase 1/2 trials are evaluating brenetafusp and IMC-P115C in platinum-resistant ovarian cancer, platinum-sensitive ovarian cancer, and metastatic non-small cell lung cancer, with data expected in the second half of 2026.

IMC-R117C is being studied in a Phase 1/2 trial for advanced solid tumors, including colorectal cancer, with initial data expected in 2027.

Immunocore’s ImmTAV technology aims to provide a functional cure for chronic infections, with ongoing studies in HIV and hepatitis B virus infections.

The Company is developing IMC-S118AI and IMC-U120AI for autoimmune diseases, with plans to begin Phase 1 trials in 2026.

Immunocore’s ImmTAC molecules use TCR technology to redirect the immune system to target and kill cancer cells effectively.
ImmTAV molecules are designed to eliminate virally infected cells, with clinical candidates in development for HIV and HBV infections. Immunocore is working on achieving a functional cure for HIV and sustained control of HBV. Their ImmTAAI molecules are targeting autoimmune diseases like type 1 diabetes and inflammatory dermatological diseases. They are conducting Phase 3 trials with brenetafusp in advanced cutaneous melanoma and enrolling patients in combination arms for multiple solid tumors.

Additionally, Immunocore is also running a Phase 3 registrational trial with tebentafusp in previously treated advanced cutaneous melanoma and the ATOM Phase 3 trial for high-risk primary uveal melanoma. Uveal melanoma is a rare and aggressive form of melanoma affecting the eye, while cutaneous melanoma is the most common and aggressive form of melanoma.

KIMMTRAK, a novel bispecific protein, has been approved for unresectable or metastatic uveal melanoma. However, there are important safety considerations, including the potential for Cytokine Release Syndrome (CRS) and skin reactions in patients receiving KIMMTRAK. It is crucial to monitor patients closely for signs and symptoms of these adverse events and provide appropriate management. KIMMTRAK may cause skin reactions, leading to discontinuation. 65% of patients experienced liver enzyme elevations. Monitor prior to and during treatment. Embryo-fetal toxicity risk, advise contraception during treatment. Common reactions include rash, fatigue, and nausea. KIMMTRAKConnect program offers support for patients. Immunocore develops TCR bispecific immunotherapies for cancer and autoimmune diseases. Forward looking statements include expansion plans and clinical trial outcomes. Immunocore reported financial results for the fourth quarter and year ended December 31, 2025. Revenue from the sale of therapies was $104,478 for the quarter and $400,016 for the year. The company incurred a net loss of $30,060 for the quarter and $35,514 for the year. Cash and cash equivalents at the end of the year were $467,709.

Immunocore’s condensed consolidated balance sheet shows total assets of $1,067,269 as of December 31, 2025. Current assets include cash and cash equivalents of $467,709, marketable securities, accounts receivable, and inventory. Total liabilities amount to $686,236, with shareholders’ equity at $381,033. The company’s financial position remains stable with a healthy cash balance.

The summary condensed consolidated statements of cash flows for Immunocore show net cash used in operating activities of $10,712, net cash used in investing activities of $16,340, and net cash provided by financing activities of $12,371 for the year ended December 31, 2025. The company ended the year with cash and cash equivalents of $467,709, reflecting a steady financial performance.

Read more at GlobeNewswire: Immunocore reports fourth quarter and full year 2025