Updated
The most significant concentration Immunocore Holdings discloses is KIMMTRAK, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Immunocore Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'our ability to grow our long-term revenues, and a significant portion of the value of our company, relates to our ability to successfully commercialize KIMMTRAK in the United States and Europe'”
“10-K Item 1: 'United States| $| 256,998 ... Revenue from sale of therapies, net| $| 400,016'”
“10-K Item 1: 'we currently contract with the following well-established third-party manufacturers: •AGC Biologics A/S...and •Simtra Biopharma Solutions'”
The company's concentration profile centers on a single commercial product, a single-country revenue source, and two contract manufacturers. KIMMTRAK represents a high-share product concentration with a mixed character: the exposure is partly structural, reflecting a deliberate oncology strategy, and partly idiosyncratic, in that the company's growth prospects are directly tied to a single therapy's commercial trajectory in a limited indication. A loss of pricing power, a competitor approval, or a reimbursement setback for that therapy would flow through the entire revenue line without a diversifying offset. Layered beneath that is a high-share geographic concentration in the United States, which is structural — it reflects where the primary market for KIMMTRAK lies, not a transient customer mix shift. The two are linked: the U.S. performance of a single product is effectively the primary driver of results. On the supply side, the company contracts with AGC Biologics A/S and Simtra Biopharma Solutions as its two contract manufacturers, a medium-share dependency. Dual sourcing provides more resilience than a single-vendor arrangement, but loss of either partner could still disrupt production given the specialized nature of biologic manufacturing. Together, the three disclosures point to a narrow, concentrated risk profile where product and geography are the dominant variables worth monitoring.
For the engine’s reasoning on IMCR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| IMCR● | Immunocore Holdings plc | 2 | 1 | 0 | 3 |
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.