Company: IMCR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001671927-25-000006
Chunk: 230

Company: Immunocore Holdings plc
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 230
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 $310.0 million due to the sale of KIMMTRAK, of which $226.7 million was in the United States, $73.2 million in Europe (including the impact of a net increase in estimated reserves related to prior periods of $18.1 million) and $10.1 million in International. Revenue from the sale of therapies, net increased in the year ended December 31, 2024 as compared to December 31, 2023, due primarily to increased volume in the United States and global country expansion, as we continued our commercialization efforts.

Collaboration revenue

Revenue from collaboration agreements decreased by $10.5 million to $0.2 million in the year ended December 31, 2024, compared to $10.7 million for the year ended December 31, 2023. This decrease was due to our February 2023 agreement with Genentech, under the terms of our Genentech Collaboration, to close the Phase 1 clinical trial and for the parties to fulfill the remaining obligations in relation to the trial. 

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Table of Contents

R&D Expenses

The following table summarizes our R&D expenses (in thousands):

Year ended December 31,20242023Increase / (decrease)% Increase / (decrease)External R&D expenses:PRAME programs$90,377 $54,761 $35,616 65 %Tebentafusp programs31,166 16,024 15,142 94 %Infectious disease programs6,662 5,111 1,551 30 %All other external clinical and pre-clinical costs23,747 23,215 532 2 %Total external R&D expenses151,952 99,111 52,841 53 %Internal R&D expenses:Salaries and other employee-related costs43,706 38,182 5,524 14 %Share-based compensation expense7,771 6,467 1,304 20 %All other internal R&D costs28,328 26,074 2,254 9 %U.K. R&D tax credits(9,606)(6,289)(3,317)53 %Total internal R&D expenses70,199 64,434 5,765 9 %Total R&D expenses$222,151 $163,545 $58,606 36