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ADC Therapeutics SA (NYSE: ADCT) is a commercial-stage biotechnology company headquartered in Lausanne, Vaud, Switzerland. The company specializes in the development of antibody-drug conjugates (ADCs) to treat hematological malignancies and solid tumors. ADC Therapeutics is particularly known for its product ZYNLONTA® (loncastuximab tesirine-lpyl), which received accelerated approval from the FDA and conditional approval from the European Commission for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. ZYNLONTA is also under development for use in combination with other agents and for earlier lines of therapy.
The company has a broad portfolio of ADCs in various stages of clinical and preclinical development, including camidanlumab tesirine, ADCT-602, ADCT-601, ADCT-901, ADCT-701, and ADCT-212. ADC Therapeutics leverages its proprietary technology to improve the treatment outcomes for cancer patients, focusing on both hematologic cancers and solid tumors.
In recent news, ADC Therapeutics announced several key updates, including the completion of dose escalation in their LOTIS-7 trial, which is evaluating ZYNLONTA in combination with bispecific antibodies for heavily pre-treated patients with relapsed/refractory B-cell non-Hodgkin lymphoma. The company also presented promising data from a Phase 2 trial evaluating ZYNLONTA in patients with relapsed/refractory marginal zone lymphoma, showing high response rates and a good safety profile.
Financially, ADC Therapeutics reported ZYNLONTA net sales of $17.8 million for the first quarter of 2024 and continues to advance its hematology and solid tumor pipelines. The company has operations in London, the San Francisco Bay Area, and New Jersey. For more information, visit adctherapeutics.com and follow the company on LinkedIn.
ADC Therapeutics SA (NYSE: ADCT) announced the issuance of stock options totaling 172,400 common shares to six new employees on July 1, 2024. These grants are part of an inducement plan to attract and retain talent, approved by the company's Board's Compensation Committee.
The grants are structured to vest 25% on the first anniversary of the grant date, with the remaining shares vesting monthly over the following three years, contingent on continued employment. This initiative is in compliance with NYSE Rule 303A.08.
ADC Therapeutics (NYSE: ADCT) will join the Russell 2000® and Russell 3000® indexes effective July 1, 2024. This inclusion follows the 2024 Russell US Indexes annual reconstitution, capturing the 4,000 largest US stocks as of April 30, 2024, based on market capitalization. CEO Ameet Mallik stated that this milestone validates ADC Therapeutics' corporate and capital allocation strategy, and highlights progress in their hematology and solid tumor portfolios. The Russell indexes, managed by FTSE Russell, are benchmarks for about $10.5 trillion in assets and guide investment strategies for many institutional investors. Membership in the Russell 3000® ensures automatic inclusion in either the Russell 1000® or Russell 2000® indexes.
ADC Therapeutics (NYSE: ADCT) has announced the issuance of stock options to three new employees as part of its Inducement Plan. A total of 109,800 options were granted on June 3, 2024, to motivate and reward the new hires. These grants were approved by the Compensation Committee of the Board of Directors and made under the NYSE's Rule 303A.08 exemption. The options vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly thereafter, contingent on continued employment.
ADC Therapeutics announced that CEO Ameet Mallik will present a company overview at the Jefferies Global Healthcare Conference on June 6, 2024, at 11:30 a.m. ET.
The presentation will be webcast live and available on the company's investor relations website, with a replay accessible for about 30 days.
ADC Therapeutics (NYSE: ADCT) announced that CEO Ameet Mallik will participate in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference at NASDAQ. The event is scheduled for Monday, May 20, 2024, at 2:00 p.m. ET. The presentation will be webcast live and available for replay for approximately 30 days on the company's investor website.
ADC Therapeutics SA, listed as NYSE: ADCT, will have its CEO, Ameet Mallik, participate in a fireside chat at the 2024 RBC Capital Markets Global Healthcare Conference on May 14, 2024. The presentation will be live-streamed on the company's website, with a replay available for 30 days.
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.
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