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Immunocore Holdings plc (NASDAQ: IMCR) is a leading biotechnology company at the forefront of developing groundbreaking T cell receptor (TCR) bispecific immunotherapies. Leveraging its world-class TCR technology, Immunocore aims to harness the body's immune system to target and destroy diseased cells. The company's proprietary platform, known as ImmTAC (Immune mobilizing monoclonal TCRs Against Cancer), is designed to treat a variety of serious conditions, including cancer, infectious diseases, and autoimmune disorders.
Based in the United Kingdom, Immunocore has a significant presence in the United States, where the majority of its revenue is generated. The company's most notable product, KIMMTRAK® (tebentafusp-tebn), is the first approved TCR therapy for metastatic uveal melanoma, available in the United States, European Union, Canada, Australia, and the United Kingdom.
In recent news, Immunocore has entered into a clinical trial collaboration with Bristol Myers Squibb to investigate IMC-F106C, an ImmTAC bispecific TCR candidate, in combination with nivolumab for treating advanced cutaneous melanoma. This Phase 3 trial aims to assess the efficacy and safety of this combination therapy.
Immunocore's robust pipeline includes several clinical-stage programs in oncology and infectious diseases. Notable developments include ongoing trials for IMC-I109V for Hepatitis B Virus (HBV) and advanced pre-clinical programs in autoimmune diseases. Additionally, the company is expanding its PRAME ImmTAC franchise with two new candidates, IMC-P115C and IMC-T119C, targeting solid tumors.
Financially, Immunocore has successfully transitioned from a research-focused organization to a revenue-generating entity. The company's collaborative efforts with partners like DELFI Diagnostics aim to enhance cancer therapy monitoring through innovative liquid biopsy assays.
Immunocore continues to pioneer in the field of immunotherapy, with a mission to deliver transformative treatments that radically improve patient outcomes.
Immunocore has announced the conversion of its Phase 2/3 TEBE-AM trial into a registrational Phase 3 trial to evaluate KIMMTRAK (tebentafusp-tebn) for previously treated advanced cutaneous melanoma. Following FDA consultation, all patients from the Phase 2/3 trial will be included in the Phase 3 intent-to-treat population. The Phase 3 trial will continue with three arms: KIMMTRAK monotherapy, KIMMTRAK with pembrolizumab, and a control.
This decision is expected to accelerate the time to the final overall survival analysis. The conversion was motivated by KIMMTRAK’s promising results in uveal melanoma and Phase 1 cutaneous melanoma trials. The Phase 1b study showed that KIMMTRAK, combined with checkpoint inhibitors, had a one-year overall survival rate of approximately 75% in patients with metastatic cutaneous melanoma.
Immunocore reported first quarter financial results with KIMMTRAK® net revenues of $70.3 million in Q1 2024. The company continues to expand global access with 7 additional launches since January 2024. Phase 1/2 brenetafusp clinical data in post-checkpoint late-line cutaneous melanoma selected for oral presentation at ASCO 2024. Financially, the company saw a 36% increase in net product revenue, with total revenue reaching $70.3 million in Q1 2024. However, research & development expenses also grew, resulting in a net loss for the quarter. Cash and cash equivalents stood at $832.8 million as of March 31, 2024.
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