IMCR (Immunocore Holdings) Research & Development: $279.5 Mil (TTM As of Mar. 2026)


IMCR Immunocore Holdings PLC IMCR
72 GF Score
Price $29.99
GF Value $46.10
Valuation Possible Value Trap
! 3 Warning Signs
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What is Immunocore Holdings Research & Development?

Immunocore Holdings IMCR 72 Research & Development is $279.5 Mil as of Mar. 2026. GuruFocus rates IMCR with a GF Score™ of 72/100 and a GF Value™ of $46.10 (Possible Value Trap). The stock has 3 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Immunocore Holdings's Research & Development for the three months ended in Mar. 2026 was $61.1 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was $279.5 Mil.

Immunocore Holdings  (NAS:IMCR) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Immunocore Holdings Research & Development Related Terms

Immunocore Holdings Research & Development Historical Data

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The historical data trend for Immunocore Holdings's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Immunocore Holdings Research & Development Chart

Immunocore Holdings Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial 100.25 101.92 163.55 222.15 274.87

Immunocore Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 56.47 69.01 70.57 78.82 61.11
IMCR
72GF Score
Immunocore Holdings PLC IMCR
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Immunocore Holdings Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $279.5 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of $279.5 Mil mean?
Immunocore Holdings (IMCR) has a Research & Development of $279.5 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Immunocore Holdings and its competitors.
Is Immunocore Holdings' Research & Development too high?
Immunocore Holdings' current Research & Development is $279.5 Mil. Overall, Immunocore Holdings has a GF Score™ of 72/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Immunocore Holdings' Research & Development compare to MAZE and FTRE?
Immunocore Holdings' Research & Development of $279.5 Mil can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Biotechnology company?
A good Research & Development depends on the Biotechnology industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Immunocore Holdings and its competitors. Immunocore Holdings's current Research & Development is $279.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Immunocore Holdings stock overvalued right now?
Based on GuruFocus' analysis, Immunocore Holdings (IMCR) is currently considered Possible Value Trap. The stock's GF Value™ is $46.10, compared to a current price of $29.99 — trading 34.9% below its estimated fair value. The current Research & Development is $279.5 Mil. Immunocore Holdings' overall GF Score™ is 72/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Immunocore Holdings (IMCR), the current Research & Development is $279.5 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Immunocore Holdings (IMCR) Overvalued in 2026?

Based on GuruFocus' analysis, Immunocore Holdings stock appears to be undervalued. The current stock price of $29.99 is trading 34.9% below its estimated GF Value™ of $46.10. GuruFocus considers Immunocore Holdings to be Possible Value Trap.

Key valuation signals for IMCR:

  • Research & Development: $279.5 Mil
  • GF Value™: $46.10 vs. price of $29.99 (34.9% below fair value)
  • GF Score™: 72/100 with 3 warning signs

No single metric tells the full story. See the IMCR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Immunocore Holdings Business Description

Other Exchanges 6YG:Germany
Address 92 Park Drive, Milton Park, Abingdon, Oxfordshire, GBR, OX14 4RY
Immunocore Holdings PLC is a commercial-stage biotechnology company. Using its ImmTAX platform, the company is developing a deep pipeline in multiple therapeutic areas, including clinical stage programs in oncology and infectious disease, pre-clinical programs in autoimmune disease, and earlier pre-clinical programs across three therapeutic areas. The company's main product, KIMMTRAK, is used for the treatment of unresectable or metastatic uveal melanoma (mUM). The other drug candidates in its pipeline include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-S118AI, IMC-U120AI, and others, being developed as a potential treatment for various oncology, infectious, and autoimmune diseases.
72GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$29.99
Price
$46.10
GF Value