Gold prices steady above $3,400/oz on rate cut bets; PCE data awaited
Investing.com -- Immunocore Holdings plc (NASDAQ:IMCR) shares gained 4.1% after the biotechnology company reported first quarter earnings and revenue that surpassed analyst expectations, driven by strong sales of its lead product KIMMTRAK.
The company posted Q1 adjusted earnings per share of $0.10, beating the analyst consensus estimate of -$0.39 by $0.49. Revenue came in at $93.9 million, topping expectations of $86.1 million.
KIMMTRAK net product sales grew 33% YoY to $93.9 million in Q1, with $56.6 million generated in the U.S., $32.8 million in Europe, and $4.5 million in other international regions. The company cited increased demand and new country launches as key growth drivers.
"We are thrilled to have achieved strong revenue performance in Q1, marked by year-over-year growth of 33%. This reflects our unwavering dedication to making KIMMTRAK accessible to patients who need it," said CEO Bahija Jallal.
Immunocore reported a net income of $5.0 million for the quarter, compared to a net loss of $24.4 million in the same period last year. Research and development expenses were $56.5 million, down slightly from $57.5 million a year ago.
The company ended the quarter with $837.0 million in cash, cash equivalents and marketable securities. Immunocore reiterated it is on track to complete enrollment for its Phase 3 TEBE-AM trial in the first half of 2026 and select the dose for its Phase 3 PRISM-MEL-301 trial in the second half of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.