Company: IMCR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001671927-25-000009
Chunk: 66

Company: Immunocore Holdings plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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$29.21 - $29.60$67.51 - $70.50Expected volatility53.30% - 55.78%59.94% - 66.17%Expected life5.5 years5 years - 5.5 yearsRisk free rate4.14% - 4.41%3.93% - 4.30%Fair value$15.70 - $16.21$39.50 - $40.47Restricted share unit activityIn February 2025, the Company granted RSU awards that vest over a four-year service period with 25% on each anniversary of the grant date. An RSU award represents the right to receive one 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. 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