Company: IMCR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001671927-25-000018
Chunk: 77

Company: Immunocore Holdings plc
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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 of therapies, net of $295.5 million, due to the sale of KIMMTRAK, of which $188.0 million was in the United States, $99.4 million in Europe (including the impact of a net decrease in estimated reserves related to prior periods of $6.0 million) and $8.2 million in International. Revenue from sale of therapies, net increased in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, due primarily to increased volume in the United States and Europe as well as global country expansion. 

R&D Expenses

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

Nine Months Ended September 30,20252024Increase / (decrease)% Increase / (decrease)External R&D expenses:PRAME programs$59,950 $67,144 $(7,194)(10.7)%Tebentafusp programs30,196 18,766 11,430 60.9 %Infectious disease programs4,077 5,009 (932)(18.6)%All other external clinical and preclinical costs42,035 17,309 24,726 142.9 %Total external R&D expenses136,258 108,228 28,030 25.9 %Internal R&D expenses:Salaries and other employee-related costs35,882 33,247 2,635 7.9 %Share-based compensation expense6,667 5,971 696 11.7 %All other internal R&D costs23,780 19,577 4,203 21.5 %U.K. R&D tax credits(6,539)(5,722)(817)14.3 %Total internal R&D expenses59,790 53,073 6,717 12.7 %Total R&D expenses$196,048 $161,301 $34,747 21.5 %

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For the nine months ended September 30, 2025, our R&D expenses were $196.0 million, compared to $161.3 million for the nine months ended September 30, 2024. 

For the nine months ended September 30, 2025, our external R&D expenses increased by $28.0 million due to an increase in all other external clinical and preclinical costs of $24.7 million