Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 68

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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)(10,948)Total external R&D expenses(47,673)(32,377)(85,604)(73,716)R&D salaries and other employee-related costs(12,907)(12,221)(23,950)(21,975)Selling, general and administrative (SG&A) salaries and other employee-related costs(12,827)(10,481)(25,045)(25,321)Other SG&A expenses(22,249)(20,329)(42,921)(37,792)Other segment expense, net (a)(11,568)(9,901)(17,731)(21,197)Segment and consolidated net loss$(10,300)$(11,616)$(5,277)$(36,052)

(a) Other segment expenses, net includes other internal R&D expenses, share-based compensation expense, R&D tax credits, interest income, interest expense, foreign currency (loss) gain, other income, net and income tax expense.

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Table of Contents

10. Commitments and contingencies

Lease commitments The maturities of operating lease liabilities as of June 30, 2025 were as follows (in thousands):Remainder of 2025$2,589 20265,300 20275,188 20285,453 20295,296 2030 and thereafter49,857 Total lease payments73,683 Less imputed interest(29,279)Present value of operating lease liabilities$44,404 Manufacturing commitmentsThe Company enters into a number of manufacturing commitments for the future purchase of materials and contract manufacturing services. While the majority of such contracts can be cancelled on reasonable notice, due to the significant ongoing expenditure associated with the Company’s programs, including brenetafusp, the Company estimates it has noncancellable commitments in relation to the development and supply of product candidates totaling $23.0 million, the majority of which are estimated to be paid within twelve months from the balance sheet date. Gates collaborationUnder the terms of the Company’s agreement with the Gates Foundation, the Company is required to develop, manufacture and commercialize soluble TCR bispecific therapeutic candidates targeted to mutually agreed neglected diseases, currently HIV, with the potential to treat people at an affordable price in developing countries. In the event of certain defaults by the Company under the agreement, which the Company considers to be within its control, the Gates Foundation has the right to sell, or require the Company to buy back, any of the shareholdings