Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 28

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 of the Company’s 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. 

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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 granted489,50229.59 Awards vested — — Awards forfeited (9,509)29.60 Unvested and outstanding as of June 30, 2025479,993 $29.59 

As of June 30, 2025, total unrecognized compensation expense related to RSUs granted but not vested was $10.2 million, which the Company expects to recognize over a remaining weighted-average period of 2.2 years. 

7. Basic and diluted net loss per share

Basic and diluted net loss per share is calculated as follows (in thousands, except share and per share amounts):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net loss$(10,300)$(11,616)$(5,277)$(36,052)Basic and diluted weighted-average number of shares outstanding50,294,20550,014,086 50,191,01849,944,767 Basic and diluted net loss per share$(0.20)$(0.23)$(0.11)$(0.72)A total of 11,220,642 shares issuable upon the exercise of outstanding share options and vesting of RSUs as of June 30, 2025 (June 30, 2024: 9,640,204), have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect.  

For the three and six months ended June 30, 2025, shares issuable upon the potential conversion of all of the Notes were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect. 

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 period by the Company’s estimated annual effective tax rate, adjusted for the tax effect of certain items recognized in full in the interim period. As such, the effective tax rate in