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IMMUNOCORE Transformative immunomodulating medicines for patients 2Q & 1H 2026 Financial Results & Business Update
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2 Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “believe”, “expect”, “plan”, “anticipate”, “aim”, “continue”, “target” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These statements include, but are not limited to, statements regarding the Company’s ability to reach more patients for KIMMTRAK, including continued U.S. community and global market penetration in mUM, the potential expansion into 2L+ advanced cutaneous melanoma, and the potential expansion into adjuvant uveal melanoma; the Company’s ability to grow and advance its clinical pipeline; the estimated size of the patient populations for the Company’s product candidates; expectations regarding the design, progress, timing, enrollment, randomization, scope, expansion, and results of the Company’s and its collaborators’ existing and planned clinical trials; the timing and sufficiency of clinical trial outcomes to support potential approval of any of the Company’s product candidates or those of, or combined with, its collaboration partners; the expected submission of clinical trial applications or investigational new drug applications; the potential regulatory approval, and expected clinical benefits and availability of the Company’s product candidates; and expectations regarding the timing and amount of sales-related rebate payments. Any forward-looking statements are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially and adversely from those set forth in or implied by such forward-looking statements, many of which are beyond the Company’s control. These risks and uncertainties include, but are not limited to, the impact of worsening macroeconomic conditions, including as a result of health epidemics or pandemics, war in Ukraine, the conflict in the Middle East, or global geopolitical tension, on the Company’s business, financial position, strategy and anticipated milestones, including the Company’s ability to conduct ongoing and planned clinical trials; the Company’s ability to obtain a clinical supply of current or future product candidates or commercial supply of KIMMTRAK or any future approved products; the Company’s ability to obtain and maintain regulatory approval of KIMMTRAK and its other product candidates; the Company’s ability and plans in continuing to establish and expand a commercial infrastructure and to successfully launch, market and sell KIMMTRAK and any future approved products; the Company’s ability to successfully expand the approved indications for KIMMTRAK or obtain marketing approval for KIMMTRAK in additional geographies in the future; the delay of any current or planned clinical trials, whether due to patient enrollment delays or otherwise; the Company’s ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; competition with respect to market opportunities; unexpected safety or efficacy data observed during preclinical studies or clinical trials; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials or future regulatory approval; the Company’s need for and ability to obtain additional funding, on favorable terms or at all, including as a result of worsening macroeconomic conditions, including changes in inflation and interest rates and unfavorable general market conditions, and the impacts thereon of the war in Ukraine, the conflict in the Middle East, and global geopolitical tension; the Company’s ability to obtain, maintain and enforce intellectual property protection for KIMMTRAK or any of its product candidates it or its collaborators are developing; and the success of the Company’s current and future collaborations, partnerships or licensing arrangements. These and other risks and uncertainties are described in greater detail in the section titled "Risk Factors" in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission on February 25, 2026, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s subsequent filings with the SEC. All forward looking statements contained in this presentation speak only as of the date on which they were made and should not be relied upon as representing its views as of any subsequent date. Except to the extent required by law, Immunocore undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Certain information contained in this presentation relates to or is based on studies, publications, surveys, and other data obtained from third party sources and Immunocore’s own internal estimates and research. While Immunocore believes these third party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy, or completeness of, any information obtained from third party sources. KIMMTRAK is a trademark owned or licensed to Immunocore.
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To change the colour of the Immunocore logo for better contrast with the selected picture: • Right-click on the background > Format Background > Solid fill > Colour > Select the Dark Blue from the theme colours palette • If for any reason the cutout of the logo doesn’t show at the bottom-right corner of the image click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • Right-click on the new image > Send to Back > Send to Back • To adjust the crop, right-click on the image > Crop. Agenda Advancing our strategic pillars Bahija Jallal, CEO KIMMTRAK growth opportunities Ralph Torbay, Chief Commercial Officer Pipeline update Mohammed Dar, Chief Medical Officer 2Q & 1H 2026 financial results Travis Coy, CFO & Head of Corporate Development Delivering on our promise Bahija Jallal, CEO 3 Q&A Session
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5 Multiple catalysts expected to support value creation Near and long-term growth potential across strategic priorities 1 Grow KIMMTRAK and prepare for potential new melanoma indications • $223M 1H 2026 net sales • 5-year OS for KIMMTRAK – doubling likelihood of being alive at 5 years • 3 Phase 3 melanoma trials ongoing (TEBE-AM, ATOM, PRISM-MEL-301) 2 Expand beyond melanoma into other tumor types • On track for data readouts across PRAME franchise • PIWIL Phase 1 dose escalation ongoing 3 Realize growth opportunities beyond oncology • First patient in type 1 diabetes Phase 1 trial to be dosed in coming weeks • Phase 1/2 HIV translational data presented at AIDS 2026
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To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. KIMMTRAK growth opportunities Ralph Torbay Chief Commercial Officer 6
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7 16% year-over-year growth in 1H 2026 1. For HLA-A*02:01-positive patients with 1L mUM treated with systemic therapies across majority of launched markets, including US and EUR5 2. Company estimate of market penetration (HLA testing x market share) 3. Company estimates 4. Rodrigues, et. al, ESMO IO 2025 (164P) KIMMTRAK is the global standard of care in 1L mUM1 penetration in all major launched markets2 ≥70% Median OS of 28 months Most recent real-world data (150 patients)4 5-yr OS data presented at AACR Longest OS follow-up in a randomized mUM trial and for any T cell engager in a solid tumor Continuing to demonstrate long term OS benefit Duration of treatment 3 ~14 mo. $223M 1H 2026 net sales $116M Q2 2026 net sales launched countries >30
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16% OS rate on tebentafusp compared with 8% for investigator’s choice (IC) • 44% only received tebentafusp • 87% of IC patients received subsequent tebentafusp • Of patients who did not receive subsequent tebentafusp, 1 was alive at 5-years OS favored tebentafusp across most patient subgroups • OS benefit maintained after subsequent therapy was removed (HR 0.52, 95% CI: 0.31–0.83)* Longest OS follow-up ever reported in a randomized metastatic uveal melanoma trial KIMMTRAK doubled likelihood of patients being alive at 5 years 5 9 1 19 1 5 15 1 1 10 9 5 5 5 9 1 1 11 1 0 1 1 109 9 5 1 5 1 1 1 1 1 1 5 1 1 1 0 Median overall survival (95 CI Tebentafusp 1. (19.0 . Control 1 .9 (1 .9 19.5 tratified ha ard ratio for death 0 7 % 0 0 8 rviva ro a i it 1.0 0.0 0.1 0. 0. 0. 0.5 0. 0. 0. 0.9 7 % % 7% 0% 0% 8% 0% % % 8% Tebentafusp Investigator s Choice ime months 0 9 1 15 1 1 0 9 5 51 5 5 0 9 1 90 5 8 Nathan P, et al. Presented at: AACR Annual Meeting 2026 Median duration of follow-up was 62.4 months (95% CI, 58.7-70.3); * Patients who received a subsequent line of anti-cancer therapy were censored and reweighted at the start of subsequent therapy using inverse probability of censoring weighting (IPCW) methodology HR: hazard ratio; IC: investigator’s choice; OS: overall survival
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Up to 6,000* patients 9 Large opportunities ahead * Estimated number of HLA-A*02:01 positive patients per year in the US and Europe. 1 Expected enrollment completion KIMMTRAK has the potential to benefit up to 6K patients per year ~1K* patients Up to 4K* ~1.2K* 2L+ advanced cutaneous melanoma <100* APPROVED in 2022 1H 2026 net sales $223M TEBE-AM Phase 3 20261 ATOM Phase 3 2028+1 Investigator led Adjuvant uveal melanoma Rare gp100+ tumors Metastatic UM
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To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. Prepare for potential new melanoma indications 11
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2L+ cutaneous melanoma HLA-A02+ market opportunity up to 4,000 patients2 Limited treatment options available for post-PD1 population * Simplified landscape. 1 Arance AM et al. J Clin Oncol 2021;39:S9504 , Zimmer L et al. Eur J Cancer. 2017;75:47-55; Weichenthal M et al. J Clin Oncol 2019:37:S15 9505- 9505; Pires Da Silva I et al. J Clin Oncol 2020:38:S15 10005-10005 Simplified landscape. 2 Estimated number of HLA-A*02:01 positive patients per year in the US and Europe. 12 Significant unmet need in 2L+ cutaneous melanoma* Historical 1-year overall survival in 2L+ post anti-PD-1 population is ~55%1 Opportunity for first ever approved treatment with survival benefit and a more tolerable regimen BRAF/MEKi1L 2L+ PD-1 ± additional checkpoint (CTLA- 4 or LAG-3) BRAF/MEKi No therapy has yet demonstrated OS benefit in 2L+ PD-1 ± additional checkpoint (CTLA4 or LAG-3) “Combo Switch” - receive the alternate IO combo as received prior Re-treatment with prior therapies / Clinical trials / Chemotherapy Tumor infiltrating lymphocyte (TIL) therapy
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Enrollment nearing the target of 540 patients – Topline data as early as end of 2026 1. Arance AM et al. J Clin Oncol 2021;39:S9504 , Zimmer L et al. Eur J Cancer. 2017;75:47-55; Weichenthal M et al. J Clin Oncol 2019:37:S15 9505-9505; Pires Da Silva I et al. J Clin Oncol 2020:38:S15 10005-10005. 2. Middleton et al., ASCO 2022. 13 TEBE-AM: The most advanced Phase 3 in 2L+ with OS endpoint Phase 3 in 2L+ cutaneous melanoma Design KIMMTRAK KIMMTRAK + anti-PD-1 N=180 N=180 N=180 Straight to follow up (active control) Endpoint Overall Survival 75% Promising Phase 1/2 data sets in 2L+ cutaneous melanoma1 1-year OS benchmark1 1-year OS KIMMTRAK + Checkpoint Inhibitors (CPIs)2 75%55%
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Adjuvant uveal melanoma HLA-A02+ market opportunity ~1,200 patients4 Opportunity to impact disease at earlier timepoint | Now enrolling in the US 1 Simplified landscape. 2 Jarczak, et al. Medicina 2023. 3 Khan, et al. Front. Oncol 2022. 4 Estimated total number of HLA-A*02:01 positive high-risk adjuvant uveal melanoma patients per year in the US and Europe (2024). 14 ATOM: The only active Phase 3 trial in adjuvant uveal melanoma Design Endpoint • Primary: Relapse-Free Survival (RFS) • Secondary: Overall survival KIMMTRAK Observation N = 145 N = 145 Phase 3 in high-risk adjuvant melanomaUnmet need High risk, ~3 years median time to recurrence3 Enucleation 100% loss of eye and vision Brachytherapy, external beam radiation, other ~50% partial loss of vision2 ‘Watch and worry’ Currently no FDA approved therapies Primary Local Therapy Adjuvant Therapy HLA-A02+ adjuvant uveal melanoma market1
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1L market opportunity ~10K HLA-A02+3 HLA-A02+ 1L cutaneous melanoma market Global randomization ongoing 1 Dosing frequency for brenetafusp will be q1w for 12 weeks, q2w up to 1yr and q4w thereafter. 2 Use of nivolumab or nivolumab + relatlimab as control will be country specific. 3 Estimated total number of drug treated HLA-A*02:01 positive 1L cutaneous melanoma patients per year in the US and Europe (2024). 15 PRISM-MEL-301: PRAME Phase 3 trial in 1L cutaneous melanoma BRAFwt ~55% BRAFm ~45% 1L PD-1 ± CPI BRAF/MEK Other Opportunity for more effective and well tolerated combination therapy Design Key endpoints Phase 3 Trial Design • Primary: PFS by BICR • Secondary: OS, ORR • Exploratory: ctDNANivolumab or Nivolumab + relatlimab2 Brenetafusp + nivolumab1 N=325 N=325 Unmet need
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16 Comparison to nivolumab and relatlimab + nivolumab Note: data for informational purposes, no comparative claims are implied or intended. Nivo: nivolumab; Rela: relatlimab; 1. CM037: NCT01721746, Larkin J, et al. J Clin Onc 2018; 2. RELA020, NCT01968109: D Cohort (≥1 anti-PD-(L)1 containing regimen), Ascierto PA, et al. J Clin Onc 2023. 3. RELA047: NCT03470922, Long GV, et al. NEJM 2023. # Patients treated with brene monotherapy at 20 – 320mcg. Multiple lines of evidence supports 1L Phase 3 trial of brene + nivo Rela + Nivo N=355 Nivo N=359 ? Brene 160 + Nivo 10% 28% 27% 20% 9% 31% 12% 40% 17% 50% PR/CR SD 38% 47% 40% 52% 67% DCR Nivo N=272 Rela + Nivo N=163 Chemo N=133 All # N=66 160mcg N=24 Prior PD-1 0% 0% 100% 100% Prior CTLA-4 100% 100% 60% 81% Ph1/2 Rela-0202 Ph1/2 F106C-101Ph2 CheckMate-0371 Brene monotherapy 2L+ mOS 6m-OS 12m-OS 4.4m 15.7m 17.1m 14.3m - ~78% 75% 75% 87% 87% ~55% 60% 60% 57% - mPFS 4.6m 10.2m 33% 16% 43% 17% 49% 60% Ph3 PRISM-MEL-301Ph3 Rela-0473 1L
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To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. Expand beyond melanoma into other tumor types 17
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18 Translating data between brenetafusp and PRAME-HLE provides path for next steps PROC = Platinum Resistant and Refractory Ovarian Cancer. PSOC = Platinum Sensitive Ovarian Cancer. Building our second product franchise Brenetafusp Ph1/2 data support Phase 3 PRISM-MEL-301 in 1L CM Data in 2026 will guide next steps Melanoma Monotherapy & PD-1 combo Ovarian – PROC Mono & chemo combination Ovarian – PROC/PSOC Chemo & bevacizumab combinations NSCLC Mono, standard of care therapy combinations PRAME HLE (IMC-P115C) Initial dose escalation Melanoma Monotherapy & PD-1 combo updated data
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Completed enrollment of additional patients at up to 1200 mcg dose – Data expected 1H 2027 20 Well tolerated with dose dependent antiviral effect ART re-start criteria: Confirmed CD4 <350 cells/μl | pVL ≥ 103 copies/mL for > 4 weeks (± 7 days) | pVL > 105 copies/mL x 2 visits 7 days apart (± 7 days) | Symptoms deemed attributable to ATI | participant choice / physician recommendation | pregnancy; PLWH: People living with HIV HIV initial Phase 1 data demonstrated delayed viral rebound 20 / 40 / 120 mcg 0 1 2 3 4 5 6 7 8 9 10 11 12 101 102 103 104 105 106 107 108 Weeks since ART discontinuation Plasma viremia (copies/ml) 0 1 2 3 4 5 6 7 8 9 10 11 12 Time to ART re-start 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time to ART re-start 20 / 40 / 300 mcg 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 101 102 103 104 105 106 107 108 Weeks since ART discontinuation Plasma viremia (copies/ml) 5 evaluable 200 c/ml ATI extended 103 c/ml 105 c/ml 50 c/ml 15 / 30 / 60 mcg 0 1 2 3 4 5 6 7 8 9 10 11 12 101 102 103 104 105 106 107 108 Weeks since ART discontinuation Plasma viremia (copies/ml) 0 1 2 3 4 5 6 7 8 9 10 11 12 Time to ART re-start
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21 First tissue-specific autoimmune candidate to enter the clinic in coming weeks 1 Becker MW, B et al. Beta cell–targeted PD-1 agonist inhibits cell-mediated autoimmunity in pancreas tissue slices. Science Advances, April 2026 2 Estimated annual incidence of HLA-A02 positive newly diagnosed type 1 diabetes in US + EU5. PPI = Pre-pro-insulin Phase 1 trial with IMC-S118AI in type 1 diabetes (T1D) Recently published data demonstrated in live human pancreas tissue slices, including from a recent-onset type 1 diabetes donor, that IMC-S118AI: • selectively binds to HLA-A*02:01-positive beta cells, and • protects beta cells from T cell destruction, as well as preserves glucose stimulated insulin secretion (GSIS) ~50K HLA-A02+ newly diagnosed T1D patients/yr (US + EU5)2 Front cover
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22 1 NSCLC = Non-small cell lung cancer 2 Program is not HLA restricted (i.e. universal for all populations). *ID = Infectious diseases Leading bispecific TCR pipeline Candidate Target (HLA type) Indication Pre IND Phase 1 Phase 2 Phase 3 Approved gp100-A02 Metastatic uveal (ocular) melanoma Adjuvant uveal (ocular) melanoma 2L+ advanced cutaneous melanoma PRAME Programs Brenetafusp (PRAME-A02) 1L advanced cutaneous melanoma Combos Ovarian, NSCLC1 Additional solid tumors IMC-P115C (PRAME- A02-HLE) Multiple solid tumors IMC-R117C PIWIL1-A02 Colorectal and GI cancers IMC-M113V Gag-A02 Human Immunodeficiency Virus (HIV) IMC-S118AI PPI-A02 x PD-1 Type 1 Diabetes IMC-U120AI CD1a x PD1 (non- HLA restricted)2 Atopic Dermatitis OncologyID*Autoimmune TEBE-AM PRISM-MEL-301 ATOM sponsored by (tebentafusp-tebn)
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To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. 2Q & 1H 2026 financial results Travis Coy Chief Financial Officer & Head of Corporate Development 23
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$880M in cash & marketable securities as of June 30, 20262 24 (in millions, except per share data) 1 International denotes countries where we are commercializing through a partner. 2 We expect to pay, in the 2H 2026, approximately $120 million in sales- related rebate accruals. 2Q 2026 & 1H 2026 GAAP Financials (unaudited) Key Figures (in USD) 2Q 2026 2Q 2025 % change vs. prior year 1H 2026 1H 2025 % change vs. prior year KIMMTRAK net revenue (US) 74.9 64.1 17% 142.4 120.7 18% KIMMTRAK net revenue (Europe) 34.1 33.0 3% 68.5 65.8 4% Other (International1) 6.9 0.8 722% 11.7 5.3 120% Total net KIMMTRAK revenue 115.9 98.0 18% 222.6 191.8 16% R&D expense 73.9 69.0 7% 135.1 125.5 8% SG&A expense 43.9 42.8 3% 81.7 83.0 -2% Net income (loss) for the period (0.8) (10.3) 12.2 (5.3) Net income (loss) per share (0.02) (0.20) 0.23 (0.11)
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To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. To add/change the picture: • Click on the image and press BACKSPACE or DELETE on the keyboard > Click on the icon at the centre of the placeholder > Select the chosen image • To adjust the crop, right-click on the image > Crop • If for any reason the image placeholder loses the rounded shape, click on Reset button in the Home tab at the top. Delivering on our promise Bahija Jallal Chief Executive Officer 25
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26 Multiple catalysts expected to support value creation 1 We expect to pay, in the 2H 2026, approximately $120 million in sales-related rebate accruals. Near and long-term growth potential across strategic priorities Grow KIMMTRAK and prepare for potential new melanoma indications Realize growth opportunities beyond oncology Expand beyond melanoma into other tumor types $880M in cash & marketable securities as of June 30, 20261 1 2 3
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27 Bahija Jallal PhD Chief Executive Officer Ralph Torbay Chief Commercial Officer Travis Coy Chief Financial Officer and Head of Corporate Development Mohammed Dar MD Chief Medical Officer Mark Moyer Chief Regulatory and Quality Officer John Goll Chief Accounting Officer Q&A Session
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Thank you 28