Every 10-Q that ADC Therapeutics SA (ADCT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ADCT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ADCT filings page.
ADC Therapeutics reported second-quarter 2026 net revenue of $19.2 million, up slightly from 2025, driven by higher U.S. ZYNLONTA pricing, while six‑month revenue was $40.1 million, modestly below the prior year due to lower license and milestone income. The company narrowed its net loss to $16.6 million for the quarter and $49.5 million for the first half, helped by sharply lower R&D spending after its 2025 restructuring and a non‑cash gain from revaluing HCR warrants.
Cash and cash equivalents were $219.1 million at June 30, 2026, with six‑month operating cash outflow of $41.5 million. The balance sheet shows negative shareholders’ equity of $228.2 million, reflecting an accumulated deficit of $1.69 billion, a $320.6 million deferred royalty obligation, and $116.6 million of senior secured term loans.
Clinically, ZYNLONTA plus rituximab met the primary endpoint of progression‑free survival in the Phase 3 LOTIS‑5 trial (HR 0.73; p=0.008), but the FDA expressed substantial concerns about benefit‑risk in light of higher Grade 5 events and a marginal efficacy benefit. ADC is reassessing its regulatory strategy while continuing monotherapy commercialization under accelerated approval. The LOTIS‑7 Phase 1b glofitamab combination completed enrollment with previously reported high response rates, and the company plans a Breakthrough Therapy designation request. A new 2026 restructuring will reduce the remaining global workforce by about 17% to focus resources on ZYNLONTA.
ADC Therapeutics reported Q1 2026 net revenue of $20.9 million, down 9.5% year over year as prior-year milestone revenue dropped, while U.S. ZYNLONTA product sales rose to $20.0 million, up 15.1% on higher volume and pricing.
The company posted a net loss of $33.0 million, improved from $38.6 million, as research and development expense fell 31.3% to $19.9 million following its 2025 restructuring, partly offset by higher selling and marketing costs of $12.7 million.
ADC Therapeutics ended the quarter with $231.0 million in cash and cash equivalents. Long-term obligations remain significant, including a $319.6 million deferred royalty obligation and $115.7 million of senior secured term loans, plus HCR warrants for 9.8 million shares issued in a February 2026 amendment to its royalty agreement.
ADC Therapeutics (ADCT) filed its Q3 2025 10‑Q, reporting continued operating losses alongside completed and planned capital raises. Net revenue was $16.4 million for the quarter, down from $18.5 million a year ago, driven by $15.8 million in product revenue and $0.7 million in royalties. Net loss was $41.0 million, or $0.30 per share. Cash and cash equivalents were $234.7 million at September 30, 2025.
Operating expenses were $47.4 million, including $0.4 million in restructuring costs this quarter and $13.5 million year‑to‑date tied to a June 2025 plan that reduced headcount by about 30% and initiated the UK facility shutdown. Interest expense totaled $13.4 million for the quarter. The balance sheet shows a deferred royalty obligation of $340.2 million and senior secured term loans of $115.2 million, with shareholders’ equity at a deficit of $238.2 million.
The company closed a June 2025 private placement for gross proceeds of $100.0 million (net $93.1 million) by selling 13,031,161 common shares at $3.53 and pre‑funded warrants to purchase 15,734,267 shares at $3.43. A subsequent October 2025 private placement raised $60.0 million gross (net $57.6 million) via 11,250,000 shares at $4.00 and pre‑funded warrants to purchase 3,846,153 shares at $3.90. Earlier in 2025, $5.0 million in license revenue was recognized upon Health Canada’s conditional approval of ZYNLONTA.
ADC Therapeutics reported consolidated revenue of $18.8 million for the quarter and $41.9 million for the six months, driven by U.S. product sales of ZYNLONTA and increased license/royalty income. The company recorded a net loss of $56.6 million for the quarter and $95.2 million for the six months, reflecting higher R&D spending and a $13.1 million charge for restructuring and impairments tied to a plan to close the UK facility and reduce global headcount by approximately 30%.
Liquidity was strengthened by a June private placement that generated gross $100.0 million (net $93.1 million), leaving cash and cash equivalents at $264.6 million. Material longer-term obligations include a deferred royalty obligation (fair value ~$312.0 million, carrying balance rolled to $340.4 million in the rollforward) and senior secured term loans with a carrying value of $114.5 million and an effective interest rate of 16.15%. Shareholders' deficit was $(199.2) million at June 30, 2025.