Financing ·
ADC Therapeutics Announces $86.6M PIPE, Refinances Debt and Reports ASH Data
ADCTADC Therapeutics SA
ADC Therapeutics SA announced a $86.6 million private placement with new and existing investors to extend its cash runway into 2029. The company also amended its HealthCare Royalty financing agreement by removing a $150 million change-of-control payment and refinanced its senior secured loan, reducing the principal to $50 million with a bullet payment due in August 2029. Additionally, ADC Therapeutics released updated clinical data from the LOTIS-7 trial showing an 88.7% overall response rate for ZYNLONTA plus glofitamab and reported preliminary Q3 net product revenues of $21 million. The company operates as a commercial-stage biopharmaceutical firm focused on antibody drug conjugates.