Financial Performance - ZYNLONTA generated net product revenues of $18.0 million for Q3 2024, up from $14.3 million in Q3 2023, and $52.9 million for the first nine months of 2024, compared to $52.4 million for the same period in 2023[9] - Product revenues for the three months ended September 30, 2024, were $18,016 thousand, a 26% increase from $14,267 thousand for the same period in 2023[31] - Total revenue for the nine months ended September 30, 2024, was $53,927 thousand, compared to $52,768 thousand for the same period in 2023, reflecting a 2.2% increase[31] - ADC Therapeutics reported a significant increase in revenue, reaching $150 million for the fiscal year, representing a 25% year-over-year growth[39] - ADC Therapeutics provided an optimistic outlook, projecting revenue growth of 20% for the next fiscal year[39] Expenses - Research and Development (R&D) expenses were $32.5 million for Q3 2024, compared to $27.1 million in Q3 2023, while year-to-date R&D expenses decreased to $82.5 million from $96.8 million in 2023[10] - Selling and Marketing (S&M) expenses decreased to $10.7 million for Q3 2024 from $13.7 million in Q3 2023, and year-to-date S&M expenses were $32.8 million compared to $43.5 million in 2023[11] - General & Administrative (G&A) expenses increased to $10.0 million for Q3 2024 from $9.6 million in Q3 2023, while year-to-date G&A expenses decreased to $32.3 million from $37.1 million in 2023[12] - The company reported a total operating expense of $54,028 thousand for the three months ended September 30, 2024, which is a 7% increase from $50,642 thousand in the same period of 2023[34] Net Loss - Net loss for Q3 2024 was $44.0 million, or $0.42 per share, an improvement from a net loss of $46.7 million, or $0.57 per share in Q3 2023[13] - Adjusted net loss for Q3 2024 was $29.4 million, or $0.28 per share, compared to an adjusted net loss of $32.4 million, or $0.39 per share in Q3 2023[14] - The net loss for the three months ended September 30, 2024, was $43,969 thousand, compared to a net loss of $46,726 thousand for the same period in 2023, showing a 5.9% improvement[35] - Adjusted net loss for the three months ended September 30, 2024, was $29,382 thousand, compared to $32,405 thousand for the same period in 2023, indicating a 9.3% improvement[35] Cash Position - Cash and cash equivalents as of September 30, 2024, were $274.3 million, slightly down from $278.6 million as of December 31, 2023, with a cash runway extended into mid-2026[15] - Cash and cash equivalents as of September 30, 2024, were $274,272 thousand, slightly down from $278,598 thousand as of December 31, 2023[33] - The company anticipates a cash runway extending into mid-2026, contingent on revenue growth and expense management[30] Research and Development - Full enrollment in the LOTIS-5 trial is expected by year-end 2024, with a data update anticipated in late 2025[2] - Interim data update for LOTIS-7 is expected in December 2024, with additional data anticipated in the first half of 2025[3] - Research and development expenses for the three months ended September 30, 2024, were $32,502 thousand, up from $27,080 thousand in the same period of 2023, representing a 20% increase[31] Strategic Initiatives - The company is discontinuing the ADCT-601 program and prioritizing the exatecan-based platform for solid tumors moving forward[6] - ADC Therapeutics is exploring potential acquisition opportunities to enhance its product portfolio and market presence[39] - The company is actively investing in new product development, with a budget allocation of $50 million for R&D in the upcoming year[39] - Market expansion efforts are underway, targeting an increase in market share by 15% in key regions[39] - The company reported a successful launch of a new technology that is expected to improve operational efficiency by 10%[39] - Customer satisfaction metrics improved, with a reported 90% satisfaction rate among users[39] - ADC Therapeutics plans to implement new strategies to enhance digital marketing efforts, aiming for a 25% increase in online engagement[39] - The company is committed to maintaining a strong balance sheet, with cash reserves of $200 million to support future initiatives[39] Share Information - The weighted average shares outstanding for the three months ended September 30, 2024, were 104,824,877, compared to 82,256,847 for the same period in 2023[35] Liabilities - The company's total liabilities increased to $521,025 thousand as of September 30, 2024, compared to $503,031 thousand as of December 31, 2023[33]

Company Performance - ADC Therapeutics SA (ADCT) has shown a year-to-date performance increase of approximately 69.9%, significantly outperforming the average gain of 3.1% in the Medical sector [4] - The Zacks Consensus Estimate for ADCT's full-year earnings has risen by 9.4% over the past three months, indicating a positive trend in analyst sentiment [3] Industry Comparison - ADC Therapeutics SA is part of the Medical - Biomedical and Genetics industry, which consists of 504 companies and currently ranks 83 in the Zacks Industry Rank. The average performance of this industry has seen a decline of 2.7% this year, highlighting ADCT's superior performance [5] - In contrast, Agios Pharmaceuticals, another stock in the Medical sector, has returned 99.5% year-to-date and belongs to the Medical - Products industry, which has gained 13.7% this year and ranks 68 [4][6] Zacks Rank - ADC Therapeutics SA holds a Zacks Rank of 2 (Buy), suggesting it is positioned to outperform the broader market in the near term [3]

2Q 2024 Earnings Call THERAPEUTICS Innovating Science. Inspiring Hope. August 6, 2024 Agenda | --- | --- | --- | --- | |-------|-------|--------------------------------------|------------------| | 01 | | Ameet Mallik Chief Executive Officer | Business Update | | 02 | | Pepe Carmona Chief Financial Officer | Financial Update | | 03 | Q&A | | | 2 Forward-Looking Statements This presentation and any accompanying oral presentation have been prepared by ADC Therapeutics SA ("ADC Therapeutics", "we" or "us") for ...

Financial Data and Key Metrics Changes - For Q2 2024, ADC Therapeutics reported revenues of $17 million, a decrease from $17.8 million in Q1 2024 and $19.2 million in Q2 2023, with year-to-date revenues of $34.9 million compared to $38.2 million in the same period last year [7][18][19] - The net loss for Q2 2024 was $36.5 million or $0.38 per share, while the adjusted net loss was $24.4 million or $0.25 per share, reflecting a decrease in both reported and adjusted net loss compared to Q2 2023 due to lower operating expenses [20][21] Business Line Data and Key Metrics Changes - ZYNLONTA remains the primary focus, with net product revenues of $17 million for Q2 2024, down from $19.2 million in Q2 2023, attributed to lower sales volume and higher gross-to-net deductions [18][19] - The company achieved commercial profitability in 2024, with a disciplined capital allocation strategy leading to a 23% reduction in operating expenses year-over-year on a non-GAAP basis [11][19] Market Data and Key Metrics Changes - The competitive landscape for ZYNLONTA in the third-line plus DLBCL market remains challenging, with increased competition from bispecific therapies, yet the company has maintained its position as a treatment option [8][9] - The company is expanding its market presence by pursuing opportunities in earlier lines of DLBCL therapy and indolent lymphomas, which could significantly increase the commercial opportunity [11][14] Company Strategy and Development Direction - The company's strategy focuses on hematology and solid tumor pipelines, with ZYNLONTA as a key asset and ADCT-601 targeting AXL as the most advanced solid tumor asset [6][7] - ADC Therapeutics aims to expand ZYNLONTA's usage into second-line plus DLBCL and indolent lymphomas, with potential peak sales exceeding $500 million [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in ZYNLONTA's role in the current treatment landscape, highlighting its clinical profile and the potential for further market penetration despite increasing competition [8][9] - The company anticipates significant milestones in the second half of 2024, including completion of enrollment in key trials and initial data from ongoing studies [21] Other Important Information - The company reported cash and cash equivalents of approximately $300 million as of June 30, 2024, providing a strong balance sheet to support its strategic initiatives [18] - ADC Therapeutics is exploring partnerships for its solid tumor programs and has selected one preclinical ADC candidate to advance towards IND, expected to be disclosed in 2025 [10][17] Q&A Session Summary Question: Regarding LOTIS-5 interim look, were there any other statistical considerations? - The independent data monitoring committee recommended continuing the trial without modifications after reviewing unblinded efficacy and safety data [24] Question: Can you provide more details on upcoming milestones? - Most data will be disclosed through corporate announcements, particularly for LOTIS-7 and AXL trials, with full data expected in the first half of next year [26] Question: Can you elaborate on the variability in ZYNLONTA orders? - Variability is attributed to the nature of orders from institutions and community physicians, with some months seeing significantly higher orders than others [29] Question: How do you expect Roche's STARGLO data to affect market dynamics? - The STARGLO data validates the efficacy of combinations with bispecifics, providing confidence in LOTIS-5 and LOTIS-7 trials [34][35] Question: Is there a possibility to include interim data into guidelines before full results? - It is possible, but would require presentation at a major medical congress and publication in a key journal [39]

Product Development and Pipeline - ADC Therapeutics aims to expand its ADC portfolio focusing on hematology and solid tumors, leveraging a validated technology platform and strategic partnerships [115]. - ZYNLONTA, the flagship product, received accelerated FDA approval for relapsed or refractory DLBCL, with ongoing international expansion efforts and clinical trials [116]. - In the LOTIS-7 trial, ZYNLONTA combined with bispecific antibodies showed promising anti-tumor activity with no dose-limiting toxicities observed in the dose escalation phase [119]. - Initial data from a Phase 2 trial of ZYNLONTA in relapsed/refractory MZL indicated a 86.7% complete response rate among evaluable patients, highlighting its potential in a high unmet need area [126]. - The solid tumor pipeline includes ADCs targeting NaPi2b and Claudin-6, currently in IND-enabling studies, with PSMA and ASCT2 candidates in drug selection stage expected to complete this year [129]. - The company is developing optimized ADCs targeting Claudin-6 and NaPi2b, with potential high impact in platinum-resistant ovarian cancer and non-small cell lung cancer [132]. - The company hosted a Research Investor Event to discuss its novel exatecan-based ADC platform, emphasizing its differentiated profile and therapeutic index [131]. Clinical Trials and Results - The LOTIS-7 trial is a global multicenter study evaluating ZYNLONTA in combination with bispecific antibodies, with ongoing enrollment in the dose expansion phase [122]. - As of April 2024, the LOTIS-7 trial reported that 88.8% of patients experienced Grade 3/4 adverse events, with manageable safety profiles observed [125]. - The company plans to pursue regulatory pathways for ZYNLONTA in MZL as trial results continue to be positive, aiming to address the high unmet medical need in this patient population [128]. Financial Performance - Product revenues, net, decreased to $17.0 million for the three months ended June 30, 2024, down $2.2 million or 11.3% from $19.2 million in the same period of 2023 [140]. - Total revenue, net, was $17.4 million for the three months ended June 30, 2024, a decrease of $1.9 million or 9.7% from $19.3 million in the same period of 2023 [138]. - License revenues and royalties increased significantly to $380 thousand for the three months ended June 30, 2024, compared to $86 thousand in the same period of 2023, representing a 341.9% increase [143]. - Net loss for the three months ended June 30, 2024, was $36.5 million, a decrease of $12.4 million or 25.3% from a net loss of $48.9 million in the same period of 2023 [138]. - Net loss per share, basic and diluted, improved to $(0.38) for the three months ended June 30, 2024, compared to $(0.60) in the same period of 2023, reflecting a 36.7% improvement [138]. - Total revenue decreased to $35.5 million for the six months ended June 30, 2024, down from $38.3 million in 2023, a decline of $2.8 million or 7.3% [172]. - Net loss for the six months ended June 30, 2024, was $83.2 million, compared to a net loss of $108.3 million in 2023, a reduction of $25.1 million or 23.2% [172]. - Product revenues, net, decreased to $34.9 million for the six months ended June 30, 2024, down from $38.2 million for the same period in 2023, representing an 8.6% decline [173]. Expenses and Cost Management - Research and development expenses decreased to $24.3 million for the three months ended June 30, 2024, down $7.0 million or 22.5% from $31.3 million in the same period of 2023 [148]. - Research and development expenses totaled $50.0 million for the six months ended June 30, 2024, a decrease of 28.2% from $69.7 million for the same period in 2023 [179]. - Selling and marketing expenses decreased to $10.7 million for the three months ended June 30, 2024, down from $14.5 million in 2023, a reduction of $3.8 million or 26.0% [161]. - General and administrative expenses were $10.2 million for the three months ended June 30, 2024, compared to $12.0 million in 2023, a decrease of $1.8 million or 14.7% [164]. - Research and development expenses for ZYNLONTA were $12.2 million for the three months ended June 30, 2024, down $4.4 million from $16.5 million in the same period of 2023 [149]. - Research and development expenses for ZYNLONTA were $27.1 million for the six months ended June 30, 2024, down from $35.8 million for the same period in 2023, a decrease of 24.0% [180]. - Selling and marketing expenses were $22.1 million for the six months ended June 30, 2024, down 25.9% from $29.8 million for the same period in 2023 [189]. - General and administrative expenses decreased to $22.3 million for the six months ended June 30, 2024, from $27.5 million for the same period in 2023, a reduction of 19.0% [192]. Cash Flow and Financing - The company completed an equity offering in May 2024, raising approximately $105.0 million in gross proceeds, with net proceeds of approximately $97.4 million after transaction costs [134]. - The company recorded a net cash used in operating activities of $76.9 million for the six months ended June 30, 2024, compared to $50.4 million for the same period in 2023, an increase of $26.6 million [206]. - Net cash provided by financing activities was $99.1 million for the six months ended June 30, 2024, primarily from the completion of the 2024 Equity Offering [208]. - The company had cash and cash equivalents of $300.1 million as of June 30, 2024, sufficient to fund operations for at least the next twelve months [201]. - The company recorded an income tax expense of $(0.4) million for the six months ended June 30, 2024, compared to a benefit of $4.0 million for the same period in 2023 [199]. - The company had an accumulated deficit of $1,418.6 million as of June 30, 2024, with operations historically funded through equity offerings and debt financings [202]. Interest Income and Expense - Interest income increased to $3.3 million for the three months ended June 30, 2024, up from $2.4 million in the same period of 2023, an increase of $0.9 million [165]. - Interest expense rose to $12.7 million for the three months ended June 30, 2024, compared to $10.3 million in 2023, an increase of $2.4 million or 23.0% [165]. - Interest income increased to $6.2 million for the six months ended June 30, 2024, up 36.4% from $4.5 million for the same period in 2023 [193]. - Interest expense rose to $25.2 million for the six months ended June 30, 2024, an increase of 22.2% from $20.6 million for the same period in 2023 [194].

ADC Therapeutics SA (ADCT) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to loss of $0.58 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this company would post a loss of $0.56 per share when it actually produced a loss of $0.56, delivering no surprise. Over the last four quarters, the company has surpassed c ...

Exhibit 99.1 ADC Therapeutics Reports Second Quarter 2024 Financial Results and Provides Operational Update ZYNLONTA® net sales of $17.0 million in 2Q 2024; Commercial profitability achieved during first half of 2024 LOTIS-7 trial enrollment on track with efficacy and safety data on eligible patients expected by year-end 2024 and mature data on all patients expected in first half of 2025 Full enrollment in LOTIS-5 trial expected before year-end 2024 Company to host conference call today at 8:30 a.m. EDT Lau ...

LAUSANNE, Switzerland, July 30, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE:ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that it will host a conference call and live webcast on Tuesday, August 6, 2024, at 8:30 a.m. EDT to report financial results for the second quarter 2024 and provide operational updates. To access the conference call, please register here. Registrants will receive the dial-in number and unique PIN. It is recomm ...

£90m ($114m) series A co-led by new leading life science investors Novo Holdings and AbingworthAdditional new investors British Patient Capital, Cancer Research Horizons and Lilly participated alongside founding investors Brandon Capital and Sofinnova PartnersFunds will be used to build out Myricx Bio's proprietary N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate (ADC) payload platform and advance its pipeline of NMTi-ADCs through clinical proof of concept targeting clinically validated tumou ...

LAUSANNE, Switzerland, June 27, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE: ADCT) today announced that the Company is set to join the Russell 2000® Index and the broad-market Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024. "We are pleased to be joining the Russell 2000® Index," said Ameet Mallik, Chief Executive Officer of ADC Therapeutics. "This is a significant benchmark validating the f ...