ADC Therapeutics Reports Third Quarter 2026 Financial Results and Provides Operational Updates

(NYSE:ADCT) ADC Therapeutics SA reported third quarter 2026 net product revenue of $21 million and cash and cash equivalents of $189.2 million as of September 30, 2026. The company completed a strategic financial restructuring in October 2026, including an $86.6 million PIPE financing with participation from Bain Capital Life Sciences, Redmile, TCGX, and Nantahala Capital, issuing approximately 12.9 million common shares and 48 million warrants with a strike price of CHF 0.08. ADC Therapeutics amended its HealthCare Royalty financing agreement to eliminate a $150 million change-of-control payment and amended its senior secured loan agreement to reduce outstanding principal by $68.5 million to $50 million, eliminate scheduled principal amortization, and remove the minimum liquidity covenant. The company expects these actions to extend its cash runway into 2029. Multiple abstracts on ZYNLONTA, including five oral presentations, have been accepted for the 68th American Society of Hematology (ASH) Annual Meeting in December 2026, featuring updated results from the Phase 1b LOTIS-7 trial, full results from the Phase 3 LOTIS-5 trial, and investigator-initiated studies in marginal zone lymphoma, mantle cell lymphoma, and Waldenström macroglobulinemia. In Japan, Tanabe Pharma Corporation, ADC Therapeutics' licensing partner, has submitted a marketing authorization application for ZYNLONTA to Japan's Ministry of Health, Labor and Welfare for relapsed or refractory DLBCL after two or more lines of systemic therapy, and entered into an exclusive sublicensing agreement with Nippon Shinyaku Co., Ltd. for commercialization. For the third quarter and nine months ended September 30, 2026, net product revenues were $21.0 million and $59.7 million, compared to $15.8 million and $51.2 million for the same periods in 2025. License revenue and royalties were $0.7 million and $2.1 million for the third quarter and nine months ended September 30, 2026, compared to $0.7 million and $7.1 million for the same periods in 2025. Cost of product sales was $2.0 million and $7.9 million for the third quarter and nine months ended September 30, 2026, compared to $1.2 million and $4.1 million for the same periods in 2025. Research and development expense was $14.7 million and $52.0 million for the third quarter and nine months ended September 30, 2026, compared to $26.8 million and $85.8 million for the same periods in 2025. Selling and marketing expense was $8.7 million and $34.0 million for the third quarter and nine months ended September 30, 2026, compared to $10.7 million and $31.4 million for the same periods in 2025. General and administrative expense was $10.7 million and $30.3 million for the third quarter and nine months ended September 30, 2026, compared to $8.3 million and $27.1 million for the same periods in 2025. In connection with the June 2026 strategic reorganization and workforce reduction, the company recognized $0.1 million in expense reversal for the third quarter and $2.6 million in employee severance and related benefit costs for the nine months ended September 30, 2026. In connection with the June 2025 restructuring plan, the company incurred $0.4 million and $13.5 million in restructuring, impairment, and other related costs for the third quarter and nine months ended September 30, 2025, including $6.2 million in employee severance, $6.4 million in non-cash impairment of assets, and $0.8 million in retirement costs related to the UK facility closure. Total operating expenses were $36.1 million and $126.8 million for the third quarter and nine months ended September 30, 2026, compared to $47.4 million and $161.9 million for the same periods in 2025. On a non-GAAP basis, total adjusted operating expenses were $32.1 million and $112.1 million for the third quarter and nine months ended September 30, 2026, compared to $45.0 million and $141.9 million for the same periods in 2025. Net loss for the third quarter and nine months ended September 30, 2026, was $25.3 million and $74.8 million, or $0.16 and $0.48 per basic and diluted share, compared to $41.0 million and $136.2 million, or $0.30 and $1.14 per basic and diluted share, for the same periods in 2025. On a non-GAAP basis, adjusted net loss for the third quarter and nine months ended September 30, 2026, was $8.8 million and $44.8 million, or $0.06 and $0.29 per basic and diluted share, compared to $25.5 million and $78.2 million, or $0.19 and $0.66 per basic and diluted share, for the same periods in 2025. As of September 30, 2026, cash and cash equivalents were $189.2 million, compared to $261.3 million as of December 31, 2025.

ADC Therapeutics Announces ZYNLONTA® Updates in Japan

(NYSE:ADCT) ADC Therapeutics SA announced that its Japanese licensing partner, Tanabe Pharma Corporation, filed a marketing authorization application with Japan's Ministry of Health, Labor and Welfare on October 29, 2026, for ZYNLONTA (loncastuximab tesirine-lpyl) to treat patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. Tanabe Pharma has entered into an exclusive sublicensing agreement with Nippon Shinyaku Co., Ltd. for the commercialization of ZYNLONTA in Japan. Recent Phase 1/2 MT-2111-A-101 bridging study results in Japanese patients with relapsed or refractory DLBCL showed an overall response rate of 58.1% and a complete response rate of 41.9%, with median duration of response not reached at a median follow-up of 15.21 months. These findings were consistent with the pivotal LOTIS-2 global study, and no new safety concerns were identified. Tanabe Pharma remains responsible for ongoing development activities and for obtaining regulatory approval in Japan under the current application. Under the existing license agreement between ADC Therapeutics and Tanabe Pharma, near-term milestones include acceptance of the marketing authorization application for ZYNLONTA in the Tanabe Pharma territory for DLBCL and the first commercial sale of ZYNLONTA in the Tanabe Pharma territory for DLBCL. Nippon Shinyaku will provide its hematology/oncology commercial expertise to support ZYNLONTA's potential introduction in Japan. ADC Therapeutics' CD19-directed ADC ZYNLONTA previously received accelerated approval by the FDA and conditional approval from the European Commission for relapsed or refractory DLBCL after two or more lines of systemic therapy. ZYNLONTA is also in development in combination with other agents and in earlier lines of therapy. ADC Therapeutics is headquartered in Lausanne, Switzerland, with operations in New Jersey, United States.

ADC Therapeutics Announces Completion of Enrollment in LOTIS-7 Phase 1b ZYNLONTA® Combination Trial

(NYSE: ADCT) ADC Therapeutics SA announced the completion of enrollment in the LOTIS-7 Phase 1b open-label clinical trial evaluating the safety and efficacy of ZYNLONTA® (loncastuximab tesirine-lpyl) in combination with glofitamab in 100 relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL) patients at the selected 150 µg/kg dose. Enrollment occurred in 30 total sites with 70% of patients in the US and 30% in the EU, and the median age of patients was 66 years. The study included 46% relapsed and 54% primary refractory patients, with a median of three prior lines of therapy. Previously reported data from the study demonstrated an 89.8% overall response rate (ORR) and 77.6% complete response (CR) across 49 efficacy-evaluable patients with a minimum of 6 months of follow-up. Primary endpoints include safety and tolerability, while secondary endpoints include overall response rate, duration of response, complete response, relapse free survival, progression-free survival, overall survival, pharmacokinetics, and immunogenicity. The company plans to share full data from LOTIS-7 at a medical meeting and submit the results for publication by the end of 2026. ADC Therapeutics is headquartered in Lausanne (Biopôle), Switzerland, with operations in New Jersey, United States.

ADC Therapeutics Announces Results From LOTIS-5 Phase 3 Confirmatory Clinical Trial of ZYNLONTA® in Combination with Rituximab in Relapsed or Refractory Diffuse Large B-Cell Lymphoma

(NYSE: ADCT) ADC Therapeutics SA announced topline data from its Phase 3 LOTIS-5 confirmatory trial evaluating ZYNLONTA® (loncastuximab tesirine-lpyl) in combination with rituximab in patients with relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL). ZYNLONTA plus rituximab achieved statistical significance on the trial's primary endpoint of progression-free survival (PFS) with a hazard ratio (HR) of 0.73 and p-value of 0.008, showing a median PFS of 6.1 months versus 4.7 months for R-GemOx. The overall response rate (ORR) was 58.1% vs. 45.2%, complete response (CR) rate was 39.5% vs. 26.7%, median duration of response (DOR) was 9.2 months vs. 7.7 months, and median duration of CRs (DoCR) was 16.8 months vs. 12.3 months for ZYNLONTA plus rituximab compared to R-GemOx, respectively. Serious adverse events (SAEs) were higher in the test arm (49.0% vs. 34.5%), and a higher rate of Grade 5 TEAEs was observed in the ZYNLONTA plus rituximab arm (27 pts/13.2%) vs. R-GemOx (9 pts/4.6%). Of patients achieving CR, 48.5% vs. 16.7% remained in CR at 24 months in favor of ZYNLONTA plus rituximab. The company plans to discuss the benefit-risk profile with the U.S. FDA and intends to conduct a pre-sBLA meeting in August and is preparing for a planned sBLA submission in the fourth quarter of 2026. The company will continue to evaluate a broad range of value maximizing alternatives, including but not limited to near-term cost reduction initiatives.

ADC Therapeutics Makes Grants to New Employees Under Inducement Plan

ADC Therapeutics SA (NYSE: ADCT) announced the grant of options to purchase an aggregate of 49,400 common shares to two new employees on May 1, 2026, as a material inducement to their employment. The grants were approved by the Compensation Committee under the Company's Inducement Plan and are subject to a vesting schedule over four years. ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates, with its product ZYNLONTA® having received accelerated approval by the FDA and conditional approval from the European Commission. The company is headquartered in Lausanne, Switzerland, with operations in New Jersey, United States. This announcement is made pursuant to NYSE Rule 303A.08 and includes forward-looking statements regarding the company's future performance and regulatory milestones.