ADC Therapeutics SA

Listed Company

ADCTCIK 0001771910NYSENon-AcceleratedSmaller ReportingPharmaceutical PreparationsV8CHFY ends Dec 31

Period

FY 2025

Revenue

$81.36M

Net Income

$-142.62M

Total Assets

$323.15M

Equity

$-185.83M

Shares Out

127.04M

Op. Cash Flow

$-141.17M

Business

ADC Therapeutics SA is a commercial-stage biotechnology company that develops and commercializes antibody drug conjugates (ADCs) for cancer treatment. It offers proprietary ADC products and investigational candidates, including ZYNLONTA (loncastuximab tesirine) and pipeline ADCs utilizing PBD and exatecan payloads, novel linkers and conjugation chemistries. The company’s key activities span hematology programs, solid tumor research programs, clinical development and CMC oversight, and collaborations and licensing arrangements. ADC Therapeutics distributes and commercializes products directly in the United States and through strategic partners, joint ventures and licensees across Europe, Asia and other global markets.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Total revenue, net	81	71	70	210
Cost of product sales	−6	−6	−3	−3
Research and development	−104	−110	−127	−186
Selling and marketing	−43	−44	−57	−69
General and administrative	−37	−42	−48	−74
Restructuring, impairment and other related costs	−13	0	—	—
Total operating expense	−203	−201	−236	−333
Loss from operations	−121	−131	−166	−123
Interest income	9	12	11	3
Interest expense	−52	−50	−46	—
Other, net	23	12	6	53
Total other expense, net	−20	−25	−29	−23
Loss before income taxes	−142	−156	−195	−147
Income tax expense	−1	−200,000	−39	−227,000
Loss before equity in net losses of joint venture	−143	−156	−235	−147
Equity in net losses of joint venture	0	−2	6	10
Net loss	−143	−158	−240	−157
Net loss per share, basic (in dollars per share)	−1.12	−1.62	−2.94	−2.01
Net loss per share, diluted (in dollars per share)	−1.12	−1.62	−2.94	−2.01
Weighted average shares outstanding, basic (in shares)	127	97	82	78
Weighted average shares outstanding, diluted (in shares)	127	97	82	78

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	261	251	279	326	—
Accounts receivable, net	29	20	25	73	—
Inventory	4	2	16	12	—
Prepaid expenses	6	8	10	23	—
Other current assets	6	9	6	—	—
Total current assets	306	291	336	435	—
Inventory, long-term	14	16	—	—	—
Property and equipment, net	0	5	6	3	—
Operating lease right-of-use assets	1	8	11	7	—
Other long-term assets	1	1	711,000	902,000	—
Total assets	323	322	355	491	—
Accounts payable	9	18	16	12	—
Accrued expenses and other current liabilities	58	62	52	68	—
Senior secured term loans, current portion	3	0	—	—	—
Total current liabilities	70	80	68	82	—
Deferred royalty obligation, long-term	323	320	304	212	—
Senior secured term loans, long-term	112	114	113	110	—
Operating lease liabilities, long-term	1	8	10	7	—
Other long-term liabilities	3	2	9	838,000	—
Total liabilities	509	525	503	411	—
Commitments and contingencies (Note 14)	—	—	—	—	—
Common shares, at CHF 0.08 par value	11	8	7	7	—
Additional paid-in capital	1,440	1,284	1,181	1,166	—
Treasury shares	−205,000	−220,000	−541,000	−679,000	—
Accumulated other comprehensive loss	−517,000	−1	−93,000	2	—
Accumulated deficit	−1,636	−1,493	−1,335	−1,095	—
Total shareholders (deficit) equity	−186	−203	−148	79	154
Total liabilities and shareholders (deficit) equity	323	322	355	491	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Share-based compensation expense	7	7	13	49
Accretion expense of deferred royalty obligation	29	28	19	12
Cumulative catch-up adjustment, deferred royalty obligation	−22	−11	−5	−15
Write-downs of inventory	2	2	2	2
Depreciation	705,000	1	1	1
Amortization of operating lease right-of-use assets	1	2	2	1
Amortization of debt discount, senior secured term loan	2	902,000	—	—
Impairment of long-lived assets and prepaid expenses and other related costs	7	0	—	—
Other	304,000	−669,000	52,000	91,000
Accounts receivable, net	−9	5	48	−43
Inventory	−2	−4	−6	−10
Prepaid expenses and other current assets	5	−1	7	−11
Other long-term assets	−46,000	−456,000	200,000	−210,000
Accounts payable	−9	2	3	310,000
Accrued expenses and other current liabilities	−7	11	−14	16
Operating lease liabilities	−3	−2	−2	−1
Other long-term liabilities	−410,000	−7	7	0
Net cash used in operating activities	−141	−124	−119	−138
Payment for purchases of property and equipment	−264,000	−867,000	−3	−687,000
Proceeds from the sale of equipment	659,000	0	—	—
Net cash provided by (used in) investing activities	395,000	−867,000	−3	−687,000
Proceeds from sale of common shares, net of transaction costs	86	61	0	—
Proceeds from Pre-Funded Warrants, net of transaction costs	65	37	0	—
Proceeds from share issuance under stock purchase plan	271,000	558,000	773,000	0
Proceeds from the exercise of options	534,000	228,000	0	—
Taxes paid related to net settled equity awards	−2	−1	0	−1
Net cash provided by financing activities	151	97	74	−897,000
Net decrease in cash and cash equivalents	10	−28	−48	−140
Exchange (losses)/gains on cash and cash equivalents	305,000	−83,000	184,000	−208,000
Interest paid	14	16	15	10
Interest received	9	14	10	2
Payments made under royalty financing transaction	−6	−5	−9	−11
Transaction costs recorded in Accounts payable and other current liabilities and Other long-term liabilities	837,000	0	—	—

Filings

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