Company Performance - ADC Therapeutics reported a quarterly loss of $0.38 per share, better than the Zacks Consensus Estimate of a loss of $0.44, and an improvement from a loss of $0.58 per share a year ago [1] - The company posted revenues of $17.41 million for the quarter, missing the Zacks Consensus Estimate by 8.63%, and down from $19.28 million year-over-year [1] - Over the last four quarters, ADC Therapeutics has surpassed consensus EPS estimates two times and topped revenue estimates just once [1] Stock Movement and Outlook - ADC Therapeutics shares have increased by approximately 72.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.7% [2] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [2][3] Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is -$0.41 on revenues of $20.06 million, and for the current fiscal year, it is -$1.87 on revenues of $78.17 million [4] - The Zacks Industry Rank for Medical - Biomedical and Genetics is in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - VistaGen Therapeutics, another company in the same industry, is expected to report a quarterly loss of $0.41 per share, reflecting a year-over-year change of +56.4%, with revenues expected to be $0.3 million, up 66.7% from the previous year [5]

[Executive Summary](index=1&type=section&id=Executive%20Summary) ADC Therapeutics reported its Q2 2024 results, highlighting that its key product, ZYNLONTA®, achieved commercial profitability in the first half of the year - **ZYNLONTA®** achieved commercial profitability in the first half of 2024[2](index=2&type=chunk)[3](index=3&type=chunk) - The company's cash runway has been extended into mid-2026 following a recent underwritten offering[2](index=2&type=chunk)[6](index=6&type=chunk) - Key clinical trial updates are expected by year-end 2024 for LOTIS-7 and in H1 2025 for mature data. Full enrollment for the LOTIS-5 trial is expected before year-end 2024[1](index=1&type=chunk) [Operational Updates and Pipeline Highlights](index=1&type=section&id=Operational%20Updates%20and%20Pipeline%20Highlights) The company reported ZYNLONTA® net sales of $17.0 million for Q2 2024, with demand affected by ordering variability, while key clinical programs are advancing [ZYNLONTA® Commercial Performance](index=1&type=section&id=ZYNLONTA%C2%AE%20Commercial%20Performance) ZYNLONTA® generated net product sales of $17.0 million in Q2 2024, representing a 5% decrease from the previous quarter, partly due to ordering variability ZYNLONTA® Net Sales | Metric | Q2 2024 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $17.0M | $17.8M | -5% | - Demand was impacted in part by variability in ordering patterns during the second quarter[3](index=3&type=chunk) [ZYNLONTA® Clinical Development](index=1&type=section&id=ZYNLONTA%C2%AE%20Clinical%20Development) Progress continues across ZYNLONTA's clinical development programs, with LOTIS-7 and LOTIS-5 trials on track for enrollment completion by year-end 2024 - LOTIS-7 (Phase 1b): Enrollment in the dose expansion part is progressing and expected to complete by year-end, with a safety and efficacy update anticipated by year-end 2024[3](index=3&type=chunk) - LOTIS-5 (Phase 3): An independent committee recommended the trial continue as planned. Full enrollment is expected before year-end 2024[4](index=4&type=chunk) - Investigator-initiated trial in MZL: Initial data from 15 evaluable patients showed **13 complete responses** and **1 partial response**[5](index=5&type=chunk) [Early-Stage Pipeline Development](index=3&type=section&id=Early-Stage%20Pipeline%20Development) The company's early-stage pipeline is advancing, with ADCT-601 Phase 1b trial enrolling patients and IND-enabling studies progressing for new ADC targets - ADCT-601 (targeting AXL): The Phase 1b trial continues enrollment, with an initial update from the trial expected in H2 2024[5](index=5&type=chunk) - Progress continues in IND-enabling studies for ADCs targeting PSMA, NaPi2b, and Claudin-6. The company expects to disclose one target to move toward IND in 2025[6](index=6&type=chunk) [Second Quarter and First Half 2024 Financial Results](index=3&type=section&id=Second%20Quarter%20and%20First%20Half%202024%20Financial%20Results) For Q2 2024, ADC Therapeutics reported total revenues of $17.4 million and a net loss of $36.5 million, an improvement from Q2 2023, with cash strengthened to $300.1 million [Financial Position](index=3&type=section&id=Financial%20Position) As of June 30, 2024, the company's cash and cash equivalents stood at $300.1 million, an increase from $278.6 million at the end of 2023, bolstered by a recent offering Cash and Cash Equivalents | Date | Amount (in millions) | | :--- | :--- | | June 30, 2024 | $300.1 | | Dec 31, 2023 | $278.6 | - A May 2024 underwritten offering resulted in net proceeds of approximately **$97.4 million**, extending the cash runway into mid-2026[6](index=6&type=chunk) [Statement of Operations Analysis](index=3&type=section&id=Statement%20of%20Operations%20Analysis) In Q2 2024, net product revenues decreased to $17.0 million, but operating expenses were significantly reduced, leading to an improved net loss of $36.5 million Q2 2024 vs. Q2 2023 Financial Performance (in millions) | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Product Revenues, Net | $17.0 | $19.2 | | R&D Expense | $24.3 | $31.3 | | S&M Expense | $10.7 | $14.5 | | G&A Expense | $10.2 | $12.0 | | Net Loss | ($36.5) | ($48.9) | | Net Loss Per Share | ($0.38) | ($0.60) | - The decrease in operating expenses was driven by productivity initiatives, focused investment in prioritized programs, and lower marketing and personnel costs[7](index=7&type=chunk)[8](index=8&type=chunk) [Non-GAAP Financial Measures](index=4&type=section&id=Non-GAAP%20Financial%20Measures) On a non-GAAP basis, the adjusted net loss for Q2 2024 was $24.4 million, a favorable comparison to $32.1 million in Q2 2023, primarily due to lower operating expenses Q2 Adjusted Financials (Non-GAAP) | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Adjusted Net Loss | ($24.4M) | ($32.1M) | | Adjusted Net Loss per Share | ($0.25) | ($0.39) | [Appendices](index=4&type=section&id=Appendices) This section includes supplementary information such as investor call details, company and product background, non-GAAP measure explanations, forward-looking statements, and detailed unaudited financial tables [Condensed Consolidated Statements of Operation](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operation) This unaudited statement details the company's revenues and expenses for the three and six months ended June 30, 2024, and 2023, showing a Q2 2024 net loss of $36.5 million Key Financial Data (Three Months Ended June 30, in thousands) | Description | 2024 | 2023 | | :--- | :--- | :--- | | Total revenue, net | $17,410 | $19,283 | | Total operating expense | ($46,451) | ($58,932) | | Loss from operations | ($29,041) | ($39,649) | | Net loss | ($36,544) | ($48,922) | [Condensed Consolidated Balance Sheet](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) This unaudited statement presents the company's financial position as of June 30, 2024, compared to December 31, 2023, showing total assets of $371.8 million Key Balance Sheet Data (in thousands) | Description | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $300,119 | $278,598 | | Total assets | $371,779 | $354,782 | | Total liabilities | $503,449 | $503,031 | | Total shareholders' equity (deficit) | ($131,670) | ($148,249) | [Reconciliation of GAAP to Non-GAAP Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) This section provides a detailed reconciliation of GAAP financial figures to non-GAAP adjusted figures, bridging the GAAP net loss of $36.5 million to an adjusted net loss of $24.4 million for Q2 2024 - The reconciliation bridges GAAP net loss to adjusted net loss by excluding non-cash items like share-based compensation and changes in fair value of warrants, as well as certain interest expenses[29](index=29&type=chunk)[30](index=30&type=chunk)[31](index=31&type=chunk) [About ZYNLONTA®](index=4&type=section&id=About%20ZYNLONTA%C2%AE) ZYNLONTA® is a CD19-directed antibody-drug conjugate (ADC) approved for adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy - ZYNLONTA is a CD19-directed ADC designed to be internalized by CD19-expressing cells, where it releases a PBD payload to cause cell cycle arrest and death[12](index=12&type=chunk) - It is approved for r/r large B-cell lymphoma after two or more lines of systemic therapy under accelerated/conditional approval pathways[13](index=13&type=chunk) [About ADC Therapeutics](index=5&type=section&id=About%20ADC%20Therapeutics) ADC Therapeutics is a commercial-stage global company pioneering antibody-drug conjugates (ADCs) to treat hematologic malignancies and solid tumors, with its lead product ZYNLONTA® approved for diffuse large B-cell lymphoma - The company is a commercial-stage leader in the field of antibody-drug conjugates (ADCs)[15](index=15&type=chunk) - It is based in Lausanne, Switzerland, with operations in London and New Jersey[16](index=16&type=chunk) [Forward-Looking Statements](index=6&type=section&id=Forward-Looking%20Statements) This section serves as a legal disclaimer, cautioning that the press release contains forward-looking statements subject to significant risks and uncertainties, where actual results could differ materially from expectations - The document contains forward-looking statements that are not guarantees of future performance and are subject to risks and uncertainties[21](index=21&type=chunk) - Key risks include the ability to grow ZYNLONTA revenue, timing and results of clinical trials (LOTIS 5, LOTIS 7, ADCT 601), regulatory outcomes, and restrictions from indebtedness[21](index=21&type=chunk)

Core Viewpoint - ADC Therapeutics SA is set to report its financial results for Q2 2024 and provide operational updates during a conference call on August 6, 2024 [1] Company Overview - ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates (ADCs) [2] - The company is focused on transforming treatment for patients with hematologic malignancies and solid tumors through its proprietary ADC technology [2] - ADC Therapeutics' CD19-directed ADC, ZYNLONTA (loncastuximab tesirine-lpyl), has received accelerated approval from the FDA and conditional approval from the European Commission for treating relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy [2] - ZYNLONTA is also being developed in combination with other agents and in earlier lines of therapy, alongside multiple ADCs in clinical and preclinical development [2] Operational Details - The company is headquartered in Lausanne, Switzerland, with operations in London and New Jersey [3] - A live webcast of the upcoming conference call will be available on the ADC Therapeutics website, with an archived version accessible for 30 days post-call [1]

Company Overview - Myricx Bio is a UK biotech company focused on developing a novel class of payloads for antibody-drug conjugates (ADCs) based on inhibitors of N-Myristoyltransferases (NMT) for cancer treatment [7] - The company was founded by Prof. Ed Tate, Dr. Roberto Solari, and Dr. Andrew Bell, and has transitioned from a virtual company to a fully-fledged R&D company with its own laboratories and in-house R&D team [5][6] Funding and Investment - Myricx Bio has successfully closed a £90 million ($114 million) Series A financing round, co-led by Novo Holdings and Abingworth, with participation from British Patient Capital, Cancer Research Horizons, and Eli Lilly [1][2] - The funds will be utilized to expand Myricx's proprietary NMTi ADC payload platform and advance its pipeline of NMTi-ADCs through clinical proof of concept [2][3] Scientific Advancements - Myricx has demonstrated that its initial NMTi-ADCs achieve complete and durable tumor regressions at well-tolerated doses in multiple solid cancer models [3] - The NMTi-ADCs show potent bystander activity and deliver high efficacy in patient-derived xenograft (PDX) organoid models across a broad range of antigen expression levels [3] Management and Strategic Growth - The company is establishing laboratory operations in London's biotech hub and expanding its management and R&D teams [1][5] - New board members include Michael Bauer from Novo Holdings and Lucille Conroy from Abingworth, indicating strong support from leading life science investors [1][2] Market Position and Future Outlook - Myricx aims to address serious unmet needs in oncology with its innovative NMTi payload chemistry platform, which has shown excellent preclinical efficacy and safety [2][7] - The company is well-positioned to leverage its NMTi-ADC platform and advance both its pipeline and strategic partnerships, aiming to become a significant player in the ADC space [5][6]

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 ...

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LAUSANNE, Switzerland, May 30, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE:ADCT) today announced that Ameet Mallik, Chief Executive Officer, will present a company overview at the Jefferies Global Healthcare Conference on Thursday, June 6, 2024 at 11:30 a.m. ET. A live webcast of the presentation will be available via the Events & Presentations page in the Investors section of ADC Therapeutics' website at ir.adctherapeutics.com. A replay of the webcast will be available for approximately 30 days. Abo ...

Company Overview - ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates (ADCs) [2] - The company is focused on transforming treatment for patients with hematologic malignancies and solid tumors [2] - ADC Therapeutics is based in Lausanne, Switzerland, with operations in London and New Jersey [3] Product Development - ADC Therapeutics' CD19-directed ADC ZYNLONTA (loncastuximab tesirine-lpyl) has received accelerated approval from the FDA and conditional approval from the European Commission for treating relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy [2] - ZYNLONTA is also being developed in combination with other agents and in earlier lines of therapy [2] - The company has multiple ADCs in ongoing clinical and preclinical development [2] Upcoming Events - Ameet Mallik, CEO of ADC Therapeutics, will participate in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference on May 20, 2024 [1] - A live webcast of the presentation will be available on the company's website, with a replay accessible for approximately 30 days [1]

Company Overview - ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates (ADCs) [2] - The company is focused on transforming treatment for patients with hematologic malignancies and solid tumors [2] - ADC Therapeutics is headquartered in Lausanne, Switzerland, with operations in London and New Jersey [3] Product Development - ADC Therapeutics' CD19-directed ADC ZYNLONTA (loncastuximab tesirine-lpyl) has received accelerated approval from the FDA and conditional approval from the European Commission for treating relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy [2] - ZYNLONTA is also being developed in combination with other agents and in earlier lines of therapy [2] - The company has multiple ADCs in ongoing clinical and preclinical development [2] Upcoming Events - Ameet Mallik, CEO of ADC Therapeutics, will participate in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference on May 20, 2024 [1] - A live webcast of the presentation will be available on the company's website, with a replay accessible for approximately 30 days [1]