Immunocore reported a third-quarter net loss of $14.22 million, or $0.28 per share, missing analyst estimates of $7.04 million and $0.13 per share. KIMMTRAK revenue was flat year over year, while higher R&D spending reflected advancing clinical programs, including three Phase 3 trials.
Immunocore's third-quarter net loss was $14.22 million, compared with an analyst estimate of $7.04 million. Loss per share was $0.28, versus an estimate of $0.13, and operating loss was $13.61 million, compared with an estimate of $9.70 million.
KIMMTRAK revenue was flat year over year; the company said underlying growth was about 10% after adjustments. It attributed the reported result to wholesaler stocking in the second quarter and an extra week of U.S. sales in the third quarter of 2025. Higher R&D expenses reflected the advancement of clinical programs, including three Phase 3 trials.
Immunocore is targeting KIMMTRAK growth through U.S. and global mUM penetration and expansion into new indications. Topline Phase 3 TEBE-AM trial data in advanced cutaneous melanoma is expected in the second quarter of 2027, while clinical data for brenetafusp in ovarian and lung cancer cohorts is expected later in 2026.
