ADC Therapeutics raises $60M PIPE; prelim Q3 ZYNLONTA revenue $15.8M, cash $234.7M

ADC Therapeutics SA

PIPE of 11.25M shares at $4.00 and 3.85M pre-funded warrants at $3.90; gross $60M, close expected Oct 27.
Preliminary Q3 2025 ZYNLONTA net product revenue approximately $15.8M.
Cash and equivalents $234.7M as of Sep 30; pro forma $292.3M after PIPE net proceeds (~$57.6M).
PIPE led by TCGX with Redmile Group and other existing investors; Jefferies acted as placement agent.
Net proceeds to fund ZYNLONTA commercial expansion, strengthen balance sheet, and working capital.

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