ADC Therapeutics Q2 revenue $18.6M; FDA flags LOTIS-5 benefit-risk concerns

ADC Therapeutics SA

Q2 net product revenue $18.6M vs $18.1M YoY; six-month revenue $38.7M vs $35.5M.
Q2 net loss $16.6M ($0.11/share) vs $56.6M loss in 2025; adjusted net loss $16.3M.
Cash $219.1M at June 30, 2026; runway at least into 2028.
FDA pre-sBLA meeting cited Grade 5 event imbalance and marginal benefit; regulatory path under review.
17% workforce cut yields ~$10M annual savings; LOTIS-7 enrollment complete at 100 patients.

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