Point72-linked investors report 4.0% ADC Therapeutics (ADCT) stake in 13G/A

Rhea-AI Filing Summary

ADC Therapeutics SA received an updated ownership report showing that investment entities affiliated with Point72, including Point72 Asset Management, Point72 Capital Advisors and Steven A. Cohen, beneficially owned 5,014,617 common shares, representing 4.0% of the company’s common shares as of December 31, 2025.

The filing states these entities have shared voting and dispositive power over all reported shares, held through an investment fund managed by Point72 Asset Management. The reporting persons certify the shares were not acquired or held to change or influence control of ADC Therapeutics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ADC Therapeutics SA

(Name of Issuer)

Common Shares, par value CHF 0.08 per share

(Title of Class of Securities)

H0036K147

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. H0036K147

1

Names of Reporting Persons

Point72 Asset Management, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,014,617.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,014,617.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,014,617.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. H0036K147

1

Names of Reporting Persons

Point72 Capital Advisors, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,014,617.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,014,617.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,014,617.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. H0036K147

1

Names of Reporting Persons

Steven A. Cohen

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,014,617.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,014,617.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,014,617.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ADC Therapeutics SA
(b)	Address of issuer's principal executive offices: Biopole, Route De La Corniche 3B, Epalinges, Switzerland, 1066
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Point72 Asset Management, L.P. ("Point72 Asset Management") with respect to the common shares, par value CHF 0.08 per share ("Shares"), of ADC Therapeutics SA held by an investment fund it manages; (ii) Point72 Capital Advisors, Inc. ("Point72 Capital Advisors Inc.") with respect to Shares held by an investment fund managed by Point72 Asset Management; and (iii) Steven A. Cohen ("Mr. Cohen") with respect to Shares beneficially owned by Point72 Asset Management and Point72 Capital Advisors Inc. Cubist Systematic Strategies, LLC is a relying adviser on the Form ADV of Point72 Asset Management and acts as a sub-advisor with respect to a portion of the Shares reported herein.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of Point72 Asset Management, Point72 Capital Advisors Inc., and Mr. Cohen is 72 Cummings Point Road, Stamford, CT 06902.
(c)	Citizenship: Point72 Asset Management is a Delaware limited partnership. Point72 Capital Advisors Inc. is a Delaware corporation. Mr. Cohen is a United States citizen.
(d)	Title of class of securities: Common Shares, par value CHF 0.08 per share
(e)	CUSIP No.: H0036K147
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Such information is as of the close of business on December 31, 2025. Point72 Asset Management, Point72 Capital Advisors Inc., and Mr. Cohen own directly no Shares. Pursuant to an investment management agreement, Point72 Asset Management maintains investment and voting power with respect to the securities held by an investment fund it manages. Point72 Capital Advisors Inc. is the general partner of Point72 Asset Management. Mr. Cohen controls each of Point72 Asset Management and Point72 Capital Advisors Inc. The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the Shares reported herein.
(b)	Percent of class: 4.0%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Such information is as of the close of business on December 31, 2025.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Such information is as of the close of business on December 31, 2025.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Such information is as of the close of business on December 31, 2025.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Such information is as of the close of business on December 31, 2025.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a).
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Point72 Asset Management, L.P.

Signature:	/s/ Jason M. Colombo
Name/Title:	Jason M. Colombo, Authorized Person
Date:	02/17/2026

Point72 Capital Advisors, Inc.

Signature:	/s/ Jason M. Colombo
Name/Title:	Jason M. Colombo, Authorized Person
Date:	02/17/2026

Steven A. Cohen

Signature:	/s/ Jason M. Colombo
Name/Title:	Jason M. Colombo, Authorized Person
Date:	02/17/2026

FAQ

What stake in ADC Therapeutics (ADCT) does Point72 report in this Schedule 13G/A?

Point72-affiliated entities report a 4.0% stake in ADC Therapeutics. They disclose beneficial ownership of 5,014,617 common shares as of December 31, 2025, with shared voting and dispositive power over all reported shares through an investment fund managed by Point72 Asset Management.

Who are the reporting persons in the ADC Therapeutics (ADCT) Schedule 13G/A filing?

The filing names three reporting persons. These are Point72 Asset Management, L.P., Point72 Capital Advisors, Inc., and Steven A. Cohen. The shares are held by an investment fund managed by Point72 Asset Management, with Cohen controlling both Point72 entities as described in the filing.

How many ADC Therapeutics (ADCT) shares are beneficially owned by Point72 entities?

The group reports beneficial ownership of 5,014,617 ADC Therapeutics common shares. This amount is the aggregate beneficial ownership for each reporting person, reflecting shared voting and dispositive power over the same pool of shares as of December 31, 2025.

What percentage of ADC Therapeutics (ADCT) common shares does 5,014,617 shares represent?

The filing states the position represents 4.0% of ADC’s common shares. This percentage of class is reported consistently for each of the three reporting persons, based on the company’s outstanding common shares at the December 31, 2025 measurement date.

Do Point72 and Steven A. Cohen intend to influence control of ADC Therapeutics (ADCT)?

The reporting persons certify they do not. They state the securities were not acquired and are not held for the purpose or effect of changing or influencing control of ADC Therapeutics, consistent with a passive Schedule 13G-style ownership position.

How are voting and dispositive powers over ADC Therapeutics (ADCT) shares structured for Point72?

The filing reports only shared powers, not sole powers. Each reporting person lists zero sole voting and dispositive power, and 5,014,617 shares of shared voting and shared dispositive power, reflecting control exercised through an investment management agreement over the fund’s holdings.