Company: IMCR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001671927-25-000006
Chunk: 234

Company: Immunocore Holdings plc
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 234
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 February 1 and August 1 of each year, beginning on August 1, 2024, at a rate of 2.50% per year. Part of the proceeds were used to repay in full loans outstanding under our loan agreement with Pharmakon (the “Pharmakon Loan Agreement”). 

In November 2024, we paid $52.1 million to prepay in full the loans outstanding under the Pharmakon Loan Agreement with a maturity of November 8, 2028, consisting of $50.0 million principal, $0.5 million accrued interest and $1.6 million attributable to a prepayment premium and other expenses payable pursuant to the Pharmakon Loan Agreement. 

We currently have no ongoing material financing commitments, such as lines of credit or guarantees, that are expected to affect our liquidity over the next five years, other than our lease obligations and supplier purchase commitments in the normal course of business.

Cash Flows 

As of December 31, 2024, we had cash and cash equivalents of $455.7 million, as compared to $442.6 million as of December 31, 2023 and we also have marketable securities of $364.6 million as of December 31, 2024 as compared to $0 as of December 31, 2023. Our working capital was $717.7 million as of December 31, 2024 as compared to $389.8 million as of December 31, 2023.

The following table summarizes the primary sources and uses of cash for each period presented (in thousands):

Year ended December 31,20242023Cash and cash equivalents at beginning of the year$442,626 $402,472 Net cash provided by operating activities26,061 2,940 Net cash used in investing activities(355,129)(5,425)Net cash provided by financing activities343,881 34,346 Net foreign exchange difference on cash held(1,708)8,293 Cash and cash equivalents at end of the year$455,731 $442,626 

Net cash provided by our operating activities was $26.1 million for the year ended December 31, 2024, compared to $2.9 million for the year ended December 31, 2023. The increase of $23.1 million was due to increased revenue related to KIMMTRAK and favorable working capital movements driven by higher accrued expenses relating to timing