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ADC Therapeutics SA (NYSE: ADCT) has announced an underwritten offering of 13,411,912 common shares at $4.900 per share and pre-funded warrants to purchase 8,163,265 common shares at $4.812 per pre-funded warrant, expecting to raise approximately $105.0 million. The offering is set to close on May 8, 2024, with Jefferies, Guggenheim Securities, and Cantor as joint book-running managers. A registration statement has been filed with the SEC, and more details can be found on the SEC's website.
ADC Therapeutics reported a net sales of $17.8 million for ZYNLONTA® in 1Q 2024 with total operating expenses decreasing 25%; LOTIS-7 dose escalation completed and 2L+ DLBCL expansion initiated; MZL IIT Phase 2 data showed 13 CR and 1 PR patients; next-generation ADC platform showcased promising preclinical data in NaPi2b, Claudin-6, PSMA, and ASCT2; cash and cash equivalents at $234.3 million, expecting runway until Q4 2025.
ADC Therapeutics announced initial data from an investigator-initiated Phase 2 clinical trial of ZYNLONTA® in patients with relapsed/refractory marginal zone lymphoma. Of the 15 patients evaluated, 13 achieved a complete response and one achieved a partial response. The drug was well-tolerated, with two patient discontinuations due to toxicity, both remaining in complete response. The study was presented at the Lymphoma Research Foundation's 2024 Marginal Zone Lymphoma Scientific Workshop.
ADC Therapeutics SA announced grants of options to purchase 147,600 common shares to four new employees on May 1, 2024, as part of an Inducement Plan. The grants were approved by the Compensation Committee to motivate employees to perform at their best. The shares will vest over four years, contingent on continued employment.
ADC Therapeutics SA (NYSE: ADCT) will host a conference call and webcast on May 6, 2024, to report Q1 2024 financial results and provide pipeline updates. Registrants can access the call via dial-in or webcast. The company aims to share recent progress on key pipeline catalysts.
