secwatch.observer — SEC 8-K summary
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Issuer:     ADC Therapeutics SA (ADCT)
CIK:        0001771910
Form:       8-K
Filed at:   2026-06-24T13:00:38+00:00
Accession:  0000950103-26-009416
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADC Therapeutics cuts 17% of workforce, expects $10M annual savings; pre-sBLA meeting in Aug 2026
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- Workforce reduction of ~17% globally, expected to generate ~$10M annualized cost savings.
- One-time pre-tax charges of ~$3M for severance and termination costs, mostly in Q2 2026.
- Pre-sBLA meeting with FDA in August 2026 for ZYNLONTA in r/r DLBCL; sBLA submission planned for Q4 2026.
- LOTIS-7 trial data anticipated by end of 2026; cash runway at least into 2028.
- Reorganization driven by completion of LOTIS-5 and LOTIS-7 trials and operational efficiencies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1771910/000095010326009416/0000950103-26-009416-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1771910/000095010326009416/dp248849_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-009416

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer