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Pipeline (15 active programs)

Technology platforms

Capital (as filed)

Cash

$512M cash and cash equivalents · Sep 30, 2026 (10-Q)

Short-term investments

$389M Sep 30, 2026

Operating cash flow

$20.1M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$880M cash per the update of Oct 7, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (3)

• 2026-11-07 UPDATE: Immunocore (IMCR) - The Binary Slips, the Combo Speaks
• 2026-10-08 UPDATE: Immunocore (IMCR) - Fidelity Heads for the Exit 🔒 Paid
• 2026-09-18 Immunocore Holdings (IMCR) — Scientific Deep Dive for KIMMTRAK, Brenetafusp and the ImmTAX Pipeline 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (3 calls)

Every verdict Biotech Distilled has published on Immunocore, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-09-18 Speculative buy speculative Immunocore Holdings (IMCR) — Scientific Deep Dive for KIMMTRAK, Brenetafusp and the ImmTAX Pipeline At ~$1.2B enterprise value, the funded TEBE-AM binary offers asymmetric exposure to a marketed biologic with a real cash floor, but the two re-rating catalysts rest on a 60-patient open-label cohort and a six-patient combination into a post-PD-1 market that just gained an approved HLA-unrestricted competitor.
2. 2026-10-08 Speculative buy speculative UPDATE: Immunocore (IMCR) - Fidelity Heads for the Exit Fidelity's ~60% stake cut reinforces sizing caution but does not change the funded binary or KIMMTRAK floor; the speculative buy is maintained with emphasis on keeping powder dry rather than chasing.
3. 2026-11-07 Speculative buy speculative UPDATE: Immunocore (IMCR) - The Binary Slips, the Combo Speaks TEBE-AM slips to Q2 2027 and KIMMTRAK growth decelerates to ~10%, but the cash floor is intact and the 17-patient gp100+PRAME combination data adds a credible franchise-extension path; 'speculative' still applies with the readout now further away.

• Long call · opened Sep 18, 2026 at $32.00 · -3.2% vs XBI -2.9% (Nov 6, 2026)

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

• 2026-11-06 10-Q in filings ↓

  • “The trial is event-driven and topline overall survival data is expected in the second quarter of 2027.”

    matched to Tebentafusp (TEBE-AM) · topline data · read as second quarter of 2027

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (13)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 15, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Nov 6, 2026ReleaseImmunocore presents promising data from Phase 1/2 trial cohort evaluating brenetafusp plus KIMMTRAK® (tebentafusp-tebn) in metastatic uveal melanoma→ BD updateSummary on the 8-K
• Nov 6, 2026ReleaseImmunocore reports third quarter financial results and provides a business update→ BD updateSummary on the 8-K
• Nov 6, 20268-KCurrent report: results of operations · EX-99.1→ BD updateTEBE-AM's OS readout just slipped to Q2 2027 — the fourth milestone re-date on the most important catalyst in the company — while fresh SITC data show the KIMMTRAK + brenetafusp combination produced a 70% two-year OS rate in 17 first-line mUM patients, and Q3 revenue printed its first nominal year-over-year decline.
• Nov 6, 202610-QQuarterly report→ BD updateSummary on the 8-K
• Oct 29, 2026ReleaseImmunocore will present Phase 1 data for brenetafusp plus KIMMTRAK® (tebentafusp-tebn) in metastatic uveal melanoma, during a late-breaking oral session at the 2026 SITC meetingPhase 1 data for brenetafusp + KIMMTRAK in metastatic uveal melanoma — the first two-T-cell-engager combination ever tested in a solid tumor — drops at SITC on November 6–7, a catalyst not on the published calendar and one that could tell us something real about whether layering PRAME on top of gp100 adds signal.
• Oct 15, 2026ReleaseImmunocore announces first patient dosed in the Phase 1 trial of IMC-S118AI – its first tissue-specific autoimmune candidate – for patients with type 1 diabetesThe first tissue-tethered PD-1 agonist to enter the clinic just dosed its first patient — a named catalyst from the deep dive that arrives as institutional sellers dominate the headlines, and quietly confirms the ImmTAAI platform is more than a slide deck.BD extracted 1 program update from this document → IMCR pipeline
• Sep 14, 20268-KCurrent report: Reg FD disclosure · EX-99.1
• Aug 6, 20268-KCurrent report: results of operations · EX-99.1
• Aug 6, 202610-QQuarterly report
• May 27, 20268-KCurrent report: shareholder vote
• May 6, 20268-KCurrent report: results of operations · EX-99.1 EXHIBIT 99.1
• May 6, 202610-QQuarterly report
• Apr 16, 2026DEF 14AProxy statement