IMCR — Stock Film
STOCK FILMSCENE 1/10IMCR · $33.58
Stock Expert AI presents
IMCR
Immunocore Holdings plc
~5 min film100% real numbersplain English
WHAT DOES THIS COMPANY DO?
Immunocore Holdings plc. What it actually does.

Develops immunotherapies using its proprietary T-cell receptor (TCR) technology. Focuses on treatments for cancer, infectious diseases, and autoimmune conditions. Now — the numbers.

on the stock market since 2021
524 employees
$1.7B market value
Revenue last year:
$297.6M
The loss that same year:
$26.4M
For every $1 it earns, the company spends $1.1.

The company is still in the product-building phase: its spending runs above its sales. That only changes once the product starts selling at scale.

THE SALES TREND
Sales are growing, year after year.

Average growth of 82% a year over the last 4 years. Red columns mark years that ended in a loss.

$27M
2021
2022
2023
2024
$297.6M
2025
In the vault right now:
$864.2M
DEBT: $436.7M
At this pace, that money lasts about 32.7 years.

At this burn rate the cash pile isn’t the pressing question — for now, time is on the company’s side.

INSIDE THE REPORT CARD

We compared this company with its own sector across five subjects.

A score of 50 means class average.

BUSINESS QUALITY
81
very strong

Profit power and business quality lead the class.

FINANCIAL STRENGTH
21
very weak

Clearly below the class average.

VALUATION
46
weak

Clearly below the class average.

GROWTH
71
strong

Clearly above the class average — a step short of the very top.

PRICE MOMENTUM
66
strong

Clearly above the class average — a step short of the very top.

WORTH WATCHING

Financial Strength: The cash-and-debt balance is thin; the buffer for hard times is slim.

Valuation: The stock trades at a price that looks expensive next to its earnings; that can cap future returns.

THE FIVE-YEAR JOURNEY
Below the peak, but no collapse.

The stock trades 55% below its peak. The market has trimmed its expectations for the company.

1
THE BRIGHT SIDE · 1/2
Sales keep climbing

Over the last 4 years, sales grew about 82% a year on average.

2
THE BRIGHT SIDE · 2/2
The product is selling

Sales run at $297.6M a year. A small number, but proof the product has real buyers.

1
THE RISKS · 1/3
Running at a loss

A loss of $26.4M against $297.6M in annual sales.

2
THE RISKS · 2/3
A thin financial cushion

The balance sheet offers little cushion against a rough stretch. Report-card grade: 21/100.

3
THE RISKS · 3/3
The price runs ahead of the earnings

Today’s price already includes part of tomorrow’s optimism. Report-card grade: 46/100.

FINALE · THE GRADE
D
35 / 100 · MoonshotScore

On our five-subject report card, IMCR sits behind the class. A low grade doesn’t mean “doomed” — it means “big claim, small proof.”

The takeaway: IMCR is a high-risk stock — not yet profitable, and its future rides on its product catching on.

The total grade weighs these five subjects against the sector — it isn’t a simple average of the five.

Analysts’ average target sits above today’s price, yet the valuation grade (46/100) says the stock isn’t cheap.

What would you like to do next?
Open the stock page →

Not covered, because the filings we hold do not carry it: the revenue breakdown.

This was a film — not investment advice.
Data: FMP & company filings
Sep 11, 2026 · stockexpertai.com · Stock Film