ADC Therapeutics SA filings document the regulatory record of a Swiss commercial-stage biotechnology company with common shares listed on the New York Stock Exchange. Its Form 8-K reports cover operating results, preliminary financial information, Regulation FD presentations, clinical data updates for ZYNLONTA studies, and material agreements including amendments to royalty financing arrangements.
Proxy materials describe annual general meeting matters under Swiss law, including approval of annual and consolidated financial statements, compensation report votes, discharge of directors and executive committee members, board and compensation committee elections, auditor matters and share capital governance. The filings also identify the company’s registered common shares, par value and exchange listing.
ADC Therapeutics is filing a resale registration to permit the selling shareholders to offer up to 9,834,776 common shares issuable upon exercise of warrants.
The prospectus states the company is not selling any shares here and will not receive proceeds from resale transactions. If the warrants are exercised for cash, the company may receive up to $37.5 million, to be used for working capital and general corporate purposes. The warrants were issued to HCR on February 18, 2026, have an exercise price of $3.8130 per share, are exercisable until December 31, 2030, and are not transferable on or prior to December 31, 2027.
ADC Therapeutics SA is a commercial-stage oncology company focused on antibody drug conjugates, led by its CD19-directed therapy ZYNLONTA for relapsed or refractory diffuse large B‑cell lymphoma (DLBCL) after at least two prior treatments. ZYNLONTA has accelerated or conditional approvals in the United States, European Union, China and Canada and is being expanded through the global Phase 3 LOTIS‑5 trial in second‑line and later DLBCL and the LOTIS‑7 Phase 1b combination trial with glofitamab and other agents.
The company is also pursuing investigator‑initiated studies in marginal zone and follicular lymphomas, and has completed IND‑enabling work on PSMA‑targeting ADC ADCT‑241 for prostate cancer, which it aims to partner. Commercially, ADC Therapeutics sells ZYNLONTA directly in the U.S. and relies on regional partners Overland, Mitsubishi Tanabe (TPC) and Sobi elsewhere, while paying a capped royalty to HealthCare Royalty under a financing agreement and servicing a term loan with Oaktree and Owl Rock. Common shares outstanding were 127,044,356 as of March 2, 2026.
ADC Therapeutics reported higher 2025 sales of ZYNLONTA and narrower losses while outlining key trial milestones. Net product revenue reached $22.3 million in Q4 and $73.6 million for 2025, up from $16.4 million and $69.3 million in 2024. Q4 net loss shrank to $6.4 million versus $30.7 million a year earlier; full-year net loss improved to $142.6 million from $157.8 million.
Cash and cash equivalents were $261.3 million at December 31, 2025, with management expecting runway at least into 2028 after two 2025 PIPE financings that raised $150.8 million net. An amended HealthCare Royalty agreement cuts the change-of-control payment from $750 million to $150 million through 2027 and $200 million thereafter, in exchange for warrants for about 9.8 million shares at $3.81. The company expects LOTIS-5 Phase 3 topline data in Q2 2026 and full LOTIS-5 and LOTIS-7 data by year-end 2026, supporting potential regulatory and compendia steps from 2027 onward.
ADC Therapeutics (ADCT) reports strategic progress in 2025, focusing resources on ZYNLONTA development and commercial execution. The company ended the year with an estimated $261M cash balance and states an expected cash runway at least to 2028. Clinical milestones include anticipated topline LOTIS-5 PFS results in Q2 2026, completion of ~100-patient enrollment in LOTIS-7 in H1 2026, and plans for full LOTIS-5/LOTIS-7 data by end of 2026.
The letter describes a strategic reprioritization—discontinuing remaining solid-tumor preclinical programs, a ~30% workforce reduction and UK operations closure—plus $160M raised via equity offerings. Management cites a potential U.S. peak revenue range of $600M–1B for ZYNLONTA "assuming compendia inclusion and regulatory approval".
ADC Therapeutics amended its royalty financing with entities managed by HealthCare Royalty Management and issued new equity-linked securities. HCR has funded the Company with $300 million to date. Under the amended agreement, a change of control now triggers a payment to HCR of $150 million if it occurs on or before December 31, 2027, or $200 million if it occurs on or after January 1, 2028. Royalty payments continue after a change of control until reaching the Royalty Cap, unless bought out for $525 million on or before December 31, 2029 or $750 million on or after January 1, 2030, in each case reduced by prior royalties and the change of control payment.
In connection with this amendment, the Company issued HCR warrants to purchase 9,834,776 common shares at an exercise price of $3.8130 per share, exercisable until December 31, 2030. The warrants allow cash or cashless exercise, contain change-of-control mechanics that accelerate or transfer the warrants, restrict transferability until December 31, 2027, and include registration rights requiring the Company to file a resale registration statement for the underlying shares. The warrants were issued as an unregistered private offering under Section 4(a)(2) of the Securities Act.
ADC Therapeutics SA reported that Chief Accounting Officer Lisa Michelle Kallebo received a grant of 62,900 Common Shares on February 13, 2026 as a restricted share unit award valued at $3.99 per share. These shares vest in three equal installments: one-third on the first anniversary of the grant date and one-third on each of the following two anniversaries, subject to continued service. On the same date, 5,433 Common Shares were withheld by the company at $3.99 per share to cover her tax obligations from previously vesting restricted share units. After these transactions, she directly owned 128,224 Common Shares.
ADC Therapeutics SA Chief Medical Officer Receives Equity Award
ADC Therapeutics SA granted Chief Medical Officer Zaki Mohamed an award covering 285,200 Common Shares on February 13, 2026. According to the footnotes, these shares will be delivered upon settlement of restricted share units that vest one-third on the first anniversary of the grant date and one-third on each anniversary thereafter, subject to continued service.
On the same date, 24,603 Common Shares were withheld by the company to cover Mr. Mohamed’s tax withholding obligations related to previously granted restricted share units that vested. After these transactions, he directly owned 682,417 Common Shares.
ADC Therapeutics SA reported that Chief Legal Officer Peter J. Graham received a grant of 294,800 Common Shares on February 13, 2026, valued at $3.99 per share. These shares relate to a restricted share unit award that vests in three equal annual installments beginning on the first anniversary of the grant date, subject to continued service.
The company also withheld 33,294 Common Shares at $3.99 per share to cover Mr. Graham’s tax obligations upon vesting of previously granted restricted share units, which is a non‑market tax-withholding disposition rather than an open-market sale. Following these transactions, Mr. Graham directly holds 620,540 Common Shares.
ADC Therapeutics SA Chief Financial Officer Jose Carmona reported equity-related transactions in company common shares. He was granted 271,600 common shares at $3.99 per share as part of a restricted share unit award that vests in three equal annual installments starting on February 13, 2027, contingent on continued service. To cover tax withholding from the vesting of previously granted restricted share units, 25,880 common shares were withheld by the company at $3.99 per share. After these transactions, Carmona directly holds 734,376 common shares.
ADC Therapeutics SA reported that Chief Executive Officer Ameet Mallik acquired 900,000 Common Shares on February 13, 2026 as part of a restricted share unit award valued at $3.99 per share. According to a footnote, these shares will be delivered over time as the RSUs vest: one-third on the first anniversary of the February 13, 2026 grant date and one-third on each of the next two anniversaries, subject to continued service.
On the same date, 103,231 Common Shares were disposed of through a tax-withholding transaction at $3.99 per share to cover Mr. Mallik’s tax obligations related to previously granted RSUs vesting. After these transactions, he directly held 1,446,769 Common Shares. A separate indirect holding of 669,101 Common Shares is reported as held by a grantor retained annuity trust, and Mr. Mallik disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.