Prnewswireยท2025-10-13 11:30Core Viewpoint - ADC Therapeutics has announced a $60 million private investment in public equity (PIPE) financing to support the commercial expansion of its product ZYNLONTA and strengthen its balance sheet [1][3][4]. Financing Details - The PIPE involves the sale of 11.3 million common shares at $4.00 per share and pre-funded warrants for 3.8 million common shares at $3.90 each [1][2]. - Gross proceeds from the PIPE are expected to be approximately $60 million before fees and expenses, with the closing anticipated on October 27, 2025 [3]. Use of Proceeds - The net proceeds from the PIPE will be utilized for the commercial expansion of ZYNLONTA, strengthening the balance sheet, funding working capital, and general corporate purposes [3][4]. Financial Expectations - The company projects net product revenues from ZYNLONTA sales to be around $15.8 million for Q3 2025, with cash and cash equivalents totaling $234.7 million as of September 30, 2025 [4]. - After accounting for estimated net proceeds from the PIPE, the company expects to have approximately $292.3 million in cash and cash equivalents [4]. Product Information - ZYNLONTA is a CD19-directed antibody drug conjugate approved for treating adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy [9][13]. - The drug is also being evaluated in combination studies for other B-cell malignancies and earlier lines of therapy [11][13].