Company: IMCR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001671927-25-000009
Chunk: 77

Company: Immunocore Holdings plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 77
---
 10%.

Comparison of the Three Months Ended March 31, 2025 and 2024

Revenue

The following table summarizes our total revenue (in thousands):

Three Months Ended March 31,20252024Increase / (decrease)% Increase / (decrease)Revenue from sale of therapies, net93,881 70,342 23,539 33.5 %Collaboration revenue— 160 (160)(100.0)%Total revenue$93,881 $70,502 $23,379 33.2 %

Revenue from sale of therapies, net

Revenue from sale of therapies, net is presented by country / region based on location of the end customer below (in thousands).Three Months Ended March 31,20252024Increase / (decrease)% Increase / (decrease)United States$56,607 $50,026 $6,581 13.2 %Europe32,804 18,952 13,852 73.1 %International4,470 1,364 3,106 227.7 %Revenue from sale of therapies, net$93,881 $70,342 $23,539 33.5 %

20

For the three months ended March 31, 2025, we generated net revenue from sale of therapies of $93.9 million, due to the sale of KIMMTRAK, of which $56.6 million was in the United States, $32.8 million in Europe (including the impact of a net decrease in estimated reserves related to prior periods of $6.0 million) and $4.5 million in International. Revenue from sale of therapies, net increased in the three months ended March 31, 2025 compared to the three months ended March 31, 2024, due primarily to global country expansion and increased sales volume in the United States, as we continued our commercialization efforts.

R&D Expenses

The following table summarizes our R&D expenses (in thousands):

Three Months Ended March 31,20252024Increase / (decrease)% Increase / (decrease)External R&D expenses:PRAME programs$17,305 $26,700 $(9,395)(35.2)%Tebentafusp programs7,990 5,894 2,096 35.6 %Infectious disease programs1,405 2,246 (841)(37.