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We expect investors to focus on the sales performance of Immunocore Holdings plc’s IMCR sole marketed drug, Kimmtrak (tebentafusp-tebn), which is approved for treating patients with unresectable or metastatic uveal melanoma (mUM), when it reports fourth-quarter 2024 results. The Zacks Consensus Estimate for the to-be-reported quarter’s top line is pegged at $83.5 million, while the same for the bottom line is pinned at a loss of 40 cents per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
In the past year, shares of Immunocore have plunged 57.7% compared with the industry’s decline of 3.1%.
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Factors to Note Ahead of IMCR's Q4 Results
Immunocore’s top-line solely comprises sales of Kimmtrak, which is approved in 38 countries, including the United States, the European Union, Canada, and others. The product has been launched in 21 countries worldwide and continues to be the standard of care for mUM in most markets where it has been launched.
Revenues in the to-be-reported quarter are likely to have been driven by higher sales of Kimmtrak in the United States and other markets on the back of strong demand.
Several label expansion studies evaluating Kimmtrak both as monotherapy and in combination with other therapies are currently ongoing targeting other melanoma indications and settings. Investors will be keen to get more updates on the same at the upcoming earnings call.
The company aims to reach more mUM patients with Kimmtrak worldwide in 2025 through additional launches and increased community penetration.
This apart, Immunocore is developing its pipeline candidate, brenetafusp in combination with Bristol Myers’ BMY blockbuster cancer drug, Opdivo (nivolumab) for treating first-line advanced cutaneous melanoma. The candidate is also being studied for other cancer indications like ovarian cancer and lung cancer.
Opdivo, a key growth driver for BMY, is already approved for various oncology indications. BMY recorded $9.3 billion in Opdivo sales in 2024.
Immunocore also has a deep pipeline in multiple therapeutic areas, including nine active clinical and pre-clinical programs in oncology, infectious diseases and autoimmune diseases. An update on the same is expected on the upcoming earnings call.
Activities related to the development of other pipeline candidates and label expansion studies on Kimmtrak might have escalated operating expenses in the to-be-reported quarter.
Earnings Surprise History
Immunocore has a mixed history of earnings surprises. The company beat on earnings in two of the trailing four quarters while missing the same on the remaining two occasions, delivering an average surprise of 25.57%. In the last reported quarter, IMCR posted a negative earnings surprise of 144.74%.