Immunocore Holdings ADS

Immunocore said at a health conference that KIMMTRAK generated about $220m in H1 2026 (annualized >$400m) and the company has cash and equivalents of $880m; on a quarterly basis it is operating close to breakeven. Management stressed that KIMMTRAK is established as a first‑line standard in key markets, but growth is slowing and first competition is expected within a year. Three phase‑III studies (TEBE‑AM, ADAM, PRISM‑MEL‑301) are expected to deliver important data in the next 2–3 years; additionally, Immunocore is advancing early‑stage programs (Brenetafusp, PRAME, PIWIL1) and a type‑1 diabetes project to validate the platform beyond oncology. » More on de.investing.com

Immunocore reported updated Phase 1/2 results showing brenetafusp monotherapy achieved a 6-month overall survival rate of 87% and a disease control rate of 52% in HLA-A*02:01-positive heavily pretreated melanoma patients. Management said responses and survival were consistent across difficult subgroups, including primary PD-1–resistant patients. The company highlighted confidence in brenetafusp 160 mcg combined with nivolumab in the ongoing Phase 3 PRISM-MEL-301 trial. » More on finance.yahoo.com

Jefferies cut Immunocore Holdings from Buy to Hold and lowered its price target to $33 from $48, citing a moderate total addressable market for lead product Kimmtrak and limited near-term upside unless pipeline programs succeed. The firm noted Kimmtrak is nearing peak sales and called additional pipeline shots risky. Immunocore reported Q4 EPS of $(0.60) versus $(0.20) consensus and revenue of $104.5M versus $107.8M, while management highlighted $400M in Kimmtrak sales in 2025 and plans to focus on clinical data and a first autoimmune trial in 2026. » More on finance.yahoo.com