Recent Updates — ADCT

ADC Therapeutics SA entered into a $86.6 million private placement of common shares and pre-funded warrants at $1.42 per share, with proceeds expected by October 22, 2026. Concurrently, the company prepaid $70 million of its senior secured term loan, reducing outstanding principal to $50 million and eliminating minimum liquidity covenants. The firm also amended its HealthCare Royalty agreement, removing a change-of-control payment obligation and establishing buyout options at $525 million or $750 million. Additionally, the company reported preliminary third-quarter ZYNLONTA net product revenues of approximately $21.0 million and cash holdings of $189.2 million as of September 30, 2026. ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates (ADCs) focused on treating B-cell malignancies.

ADC Therapeutics SA reported second quarter 2026 financial results, posting net product revenue of $18.6 million and cash and cash equivalents of $219.1 million as of June 30, 2026. The company announced a strategic reorganization involving an approximately 17 percent global workforce reduction to generate estimated annualized cost savings of $10 million. Regulatory developments include the completion of enrollment in the LOTIS-7 Phase 1b trial evaluating ZYNLONTA plus glofitamab and a pre-sBLA meeting with the FDA regarding LOTIS-5 data, where the agency expressed substantial concerns about benefit-risk due to Grade 5 events. Consequently, ADC Therapeutics is assessing the regulatory path for full approval of ZYNLONTA in 3L+ diffuse large B-cell lymphoma (DLBCL). The company operates as a commercial-stage biopharmaceutical firm focused on antibody drug conjugates.

ADC Therapeutics SA approved one-time retention awards for CEO Ameet Mallik, CFO Jose Carmona, and CMO Mohamed Zaki. The awards consist of cash incentives and Restricted Stock Units (RSUs) totaling $1,795,500 in cash and 675,000 RSUs for the CEO, with other specific amounts for the CFO and CMO. ADC Therapeutics SA is a biotechnology company focused on developing oncology treatments.

ADC Therapeutics SA announced a global workforce reduction of approximately 17 percent to achieve an estimated $10 million in annualized cost savings. The company expects to incur one-time pre-tax charges of approximately $3 million for severance and termination costs, primarily in the second quarter of 2026. ADC Therapeutics SA is a biotechnology company focused on developing and commercializing oncology products.