|
|
|
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading
Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
Ordinary share, nominal value £0.002 per share*
|
*
|
The Nasdaq Stock Market LLC
|
Item 2.02. |
Results of Operations and Financial Condition.
|
Item 7.01. |
Regulation FD Disclosure.
|
Item 9.01. |
Financial Statements and Exhibits
|
Exhibit No.
|
Description
|
Press Release dated February 28, 2024.
|
|
Slide Presentation dated February 28, 2024.
|
|
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document).
|
IMMUNOCORE HOLDINGS PLC
|
|||
Dated: February 28, 2024
|
By:
|
/s/ Bahija Jallal, Ph.D.
|
Name:
|
Bahija Jallal, Ph.D.
|
||
Title:
|
Chief Executive Officer
|
Immunocore Holdings PLC
|
Consolidated Statement of Operations
|
Comparison of the Years ended December 31, 2023 and 2022
|
$’000
|
Quarter Ended
|
Year Ended
|
|||||||||||||||
December
31, 2023
|
December
31, 2022
|
December
31, 2023
|
December
31, 2022
|
|||||||||||||
Product revenue
|
$
|
67,592
|
$
|
51,506
|
$
|
238,735
|
$
|
130,013
|
||||||||
Pre-product revenue
|
(1,084
|
)
|
-
|
10,674
|
||||||||||||
Total revenue from sale of therapies
|
67,592
|
50,422
|
238,735
|
140,687
|
||||||||||||
Collaboration revenue
|
2,570
|
6,890
|
10,693
|
33,674
|
||||||||||||
Total revenue
|
70,162
|
57,312
|
249,428
|
174,361
|
||||||||||||
Cost of product revenue
|
(200
|
)
|
(131
|
)
|
(1,037
|
)
|
(1,089
|
)
|
||||||||
Research and development costs
|
(45,565
|
)
|
(31,144
|
)
|
(163,545
|
)
|
(101,921
|
)
|
||||||||
Selling, general, & administrative exps
|
(41,449
|
)
|
(35,392
|
)
|
(144,495
|
)
|
(123,059
|
)
|
||||||||
Operating loss
|
(17,052
|
)
|
(9,355
|
)
|
(59,649
|
)
|
(51,708
|
)
|
||||||||
Interest income
|
5,439
|
2,916
|
17,986
|
3,756
|
||||||||||||
Interest expense
|
(1,308
|
)
|
(1,518
|
)
|
(5,154
|
)
|
(5,409
|
)
|
||||||||
Foreign currency (loss) gain
|
(12,529
|
)
|
(14,206
|
)
|
(13,176
|
)
|
14,157
|
|||||||||
Other expense, net
|
(191
|
)
|
(1,686
|
)
|
(897
|
)
|
(1,679
|
)
|
||||||||
Net loss before income taxes
|
(25,641
|
)
|
(23,849
|
)
|
(60,890
|
)
|
(40,883
|
)
|
||||||||
Income tax credit/(expense)
|
5,911
|
(6,172
|
)
|
5,603
|
(11,660
|
)
|
||||||||||
Net loss
|
$
|
(19,730
|
)
|
$
|
(30,021
|
)
|
$
|
(55,287
|
)
|
$
|
(52,543
|
)
|
||||
|
||||||||||||||||
Net loss per share
|
$
|
(0.40
|
)
|
$
|
(0.63
|
)
|
$
|
(1.13
|
)
|
$
|
(1.15
|
)
|
||||
|
||||||||||||||||
Basic weighted average number of shares
|
49,533,622
|
48,000,101
|
48,888,975
|
45,714,923
|
Consolidated Balance Sheets
|
As of December 31,
|
$'000
|
2023
|
2022
|
|||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
442,626
|
$
|
402,472
|
||||
Accounts receivable, net
|
52,093
|
33,584
|
||||||
Prepaid expenses and other current assets
|
29,600
|
37,229
|
||||||
Inventory
|
4,501
|
692
|
||||||
Total current assets
|
528,820
|
473,977
|
||||||
Property, plant and equipment, net
|
9,215
|
7,833
|
||||||
Operating lease, right of use assets, net
|
33,520
|
30,944
|
||||||
Deferred tax assets, net
|
10,973
|
5,121
|
||||||
Other non-current assets
|
14,473
|
8,887
|
||||||
Total assets
|
$
|
597,001
|
$
|
526,762
|
||||
Liabilities and shareholders’ equity
|
||||||||
Current liabilities
|
||||||||
Accounts payables
|
$
|
17,798
|
$
|
14,450
|
||||
Accrued expenses & other current liabilities
|
119,835
|
76,747
|
||||||
Deferred revenue, current
|
-
|
7,756
|
||||||
Operating lease liabilities, current
|
1,388
|
1,882
|
||||||
Total current liabilities
|
139,021
|
100,835
|
||||||
Accrued expenses, non-current
|
978
|
2,215
|
||||||
Deferred revenue, non-current
|
5,515
|
5,242
|
||||||
Operating lease liabilities, non-current
|
34,633
|
31,760
|
||||||
Interest-bearing loans and borrowings
|
48,011
|
47,807
|
||||||
Total liabilities
|
228,158
|
187,859
|
||||||
Shareholders' equity
|
||||||||
Common stock
|
134
|
129
|
||||||
Deferred stock
|
1
|
1
|
||||||
Additional paid-in capital
|
1,149,643
|
1,082,833
|
||||||
Accumulated deficit
|
(744,674
|
)
|
(689,387
|
)
|
||||
Accumulated other comprehensive income
|
(36,261
|
)
|
(54,673
|
)
|
||||
Total shareholders' equity
|
368,843
|
338,903
|
||||||
Total liabilities and shareholders' equity
|
$
|
597,001
|
$
|
526,762
|
Summary Consolidated Statement of Cash Flows
For the Years Ended December 31,
|
$’000
|
2023
|
2022
|
|||||||
Cash and cash equivalents, beg of year
|
$
|
402,472
|
$
|
321,082
|
||||
Net cash provided by (used in) operating activities
|
2,940
|
(49,209
|
)
|
|||||
Net cash (used in) investing activities
|
(5,425
|
)
|
(2,197
|
)
|
||||
Net cash provided by financing activities
|
34,346
|
145,442
|
||||||
Net foreign exchange difference on cash held
|
8,293
|
(12,646
|
)
|
|||||
Cash and cash equivalents, end of year
|
$
|
442,626
|
$
|
402,472
|