Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 66

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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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 the condensed consolidated financial statements may differ from the Company’s estimate of the effective tax rate for the Company’s consolidated financial statements for the year ending December 31, 2025.The Company’s consolidated estimated effective tax rate for the three and six months ended June 30, 2025 was (6.3)% and (46.1)%, respectively. During the three and six months ended June 30, 2025, the Company recorded a tax charge of $0.6 and $1.7 million respectively (June 30, 2024: $1.5 and $1.8 million, respectively). The Company benefits from the U.K. large company Research & Development Expenditure Credit ("RDEC") regime which can generate a cash rebate of up to 15% of qualifying research and development expenditures incurred after April 1, 2023. Tax credits receivable under the RDEC regime are recorded "above the line" as a reduction from research and development expenses. For the three and six months ended June 30, 2025, the Company excluded the United Kingdom from the calculation of the annual estimated tax rate as the Company anticipates an ordinary loss in this jurisdiction for which no tax benefit can be recognized.A net deferred tax asset of $14.1 million has been recognized as of June 30, 2025 (December 31, 202