Immunocore (IMCR) Leerink Global Healthcare Conference 2026 summary

Commercial performance and product adoption

• KIMMTRAK achieved $400 million in net revenue last year, marking 30% year-on-year growth and 15 consecutive quarters of growth.

• Product is launched in 30 markets with 70% penetration among major markets and is the standard of care for HLA-A*02:01 positive uveal melanoma.

• Growth is expected to moderate from previous 4%-7% quarter-on-quarter rates, with some quarterly variability anticipated.

• Key learnings include the importance of predictive analytics for rare disease adoption and strong real-world duration of therapy (14 months mean).

Clinical development and data updates

• Five-year overall survival data from Phase 3 in metastatic uveal melanoma is unprecedented, with recent real-world evidence from France showing a 28-month median OS.

• U.S. real-world data and five-year Phase 3 survival data are forthcoming; TEBE-AM study in cutaneous melanoma expects enrollment completion in H1 2024 and data in H2 2024.

• ATOM study in adjuvant uveal melanoma is the only ongoing Phase 3 in this setting, with accrual expected over two years and data 12-18 months after.

Competitive landscape and market opportunity

• In uveal melanoma, competition is limited for HLA-A*02:01 positive patients, with some Phase 3 activity in the negative population.

• Liver-directed therapy is a promising modality under clinical investigation.

• Cutaneous melanoma is more competitive, but KIMMTRAK’s overall survival endpoint and off-the-shelf profile provide differentiation.

• Commercial opportunity in late-line cutaneous melanoma is up to 4,000 patients, with potential pricing premium if survival data is positive.