Core Insights - ADC Therapeutics reported a strong overall response rate (ORR) of 93.3% and a complete response (CR) rate of 86.7% for ZYNLONTA® in combination with glofitamab in the LOTIS-7 trial [1][3] - The company has completed a $100 million private placement to extend its cash runway into 2028, with net proceeds of $93.1 million allocated for ZYNLONTA's clinical development and commercialization [3][7] - ADC Therapeutics is focusing on expanding ZYNLONTA into earlier lines of therapy for diffuse large B-cell lymphoma (DLBCL) and indolent lymphomas, with key clinical milestones expected through 2026 [2][3] Operational Updates - The LOTIS-7 Phase 1b trial is expanding to include 100 patients with relapsed/refractory DLBCL, with additional data expected in the second half of 2025 [1][3] - The LOTIS-5 Phase 3 trial is on track to reach the prespecified progression-free survival (PFS) events by the end of 2025, with topline data anticipated thereafter [1][3] - The company is also advancing IND-enabling activities for a PSMA-targeting ADC, with completion expected by the end of 2025 [4] Financial Performance - For Q2 2025, net product revenues were $18.1 million, up from $17.0 million in Q2 2024, while total revenues for the first half of 2025 reached $41.9 million compared to $35.5 million in the same period last year [7][20] - Research and development expenses increased to $30.1 million for Q2 2025, compared to $24.3 million in Q2 2024, driven by clinical trial activities [7][20] - The net loss for Q2 2025 was $56.6 million, or $0.50 per share, compared to a net loss of $36.5 million, or $0.38 per share, in Q2 2024 [7][20] Strategic Focus - The company announced a strategic restructuring plan, discontinuing early development efforts for preclinical programs in solid tumors and focusing resources on ZYNLONTA [4] - A workforce reduction of approximately 30% is planned as part of the restructuring, expected to be completed by September 30, 2025 [4] - ADC Therapeutics aims to pursue a supplemental Biologics License Application (sBLA) for ZYNLONTA in 2026, with potential confirmatory approval in DLBCL [2][3]