Company: IMCR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001671927-25-000009
Chunk: 30

Company: Immunocore Holdings plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 ADSs upon vesting of the RSU. The fair value of each RSU award is based on the closing price of the Company’s ADSs on Nasdaq on the date of grant. The number and weighted average fair value of RSUs were as follows:Number of RSUsWeighted Average Grant Date Fair ValueUnvested and outstanding as of December 31, 2024— $— Awards granted485,14029.60 Awards vested — — Awards forfeited — — Unvested and outstanding as of March 31, 2025485,140 $29.60 

As of March 31, 2025, total unrecognized compensation expense related to RSUs granted but not vested was $12.0 million, which the Company expects to recognize over a remaining weighted-average period of 2.4 years. 

7. Basic and diluted net income (loss) per share

Basic and diluted net income (loss) per share is calculated as follows (in thousands, except share and per share amounts):Three Months Ended March 31,20252024Net income (loss)$5,023 $(24,436)Basic weighted-average number of shares outstanding50,086,68449,877,218Adjustment for share options and RSUs with dilutive effect1,863,114— Diluted weighted-average number of shares outstanding51,949,79849,877,218Basic net income (loss) per share$0.10 $(0.49)Diluted net income (loss) per share$0.10 $(0.49)A total of 3,691,365 shares issuable upon the exercise of outstanding share options and vesting of RSUs for the three months ended March 31, 2025 (March 31, 2024: 9,537,918), have been excluded from the calculation of diluted net income (loss) per share due to their anti-dilutive effect.

For the three months ended March 31, 2025 and 2024, shares issuable upon the potential conversion of all of the Notes (as defined in Note 5. “Interest-bearing loans and borrowings”) were excluded from the calculation of diluted net income (loss) per share due to their anti-dilutive effect. 

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8. Income taxes

Income tax expense is recognized at an amount determined by multiplying the net income (loss) before income taxes for the interim reporting