Company: IMCR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001671927-25-000018
Chunk: 62

Company: Immunocore Holdings plc
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 and 2024 have been valued using the Black-Scholes option pricing model. The assumptions used in the models for share options granted were as follows: Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Share price at grant date$33.28$33.89   $28.63 - $33.28$33.89 - $70.50Exercise price$33.28$33.89 $28.63 - $33.28$33.89 - $70.50Expected volatility52.82%55.42%52.82% - 55.78%55.24% - 66.17%Expected life5.5 years5.5 years5.5 years5 years - 5.5 yearsRisk free rate4.04%4.44%3.94% - 4.41%3.93% - 4.56%Fair value$17.42$18.53 $15.11 - $17.42$18.53 - $40.47 Restricted 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 American Depositary Shares ("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 granted506,73729.70 Awards vested — — Awards forfeited (14,780)29.51 Unvested and outstanding as of September 30, 2025491,957 $29.71 

As of September 30, 2025, total unrecognized compensation expense related to RSUs granted but not vested was $9.0 million, which the Company expects to recognize over a remaining weighted-average period of 2.1 years. 

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7. Basic and diluted net loss per share

Basic and diluted net (loss) income per share is calculated as follows (in thousands, except share and per share amounts):Three Months Ended September 30,Nine Months Ended September