ADC Therapeutics reports Q3 2024 revenue $18.0M; net loss narrows; discontinues ADCT-601

ADC Therapeutics SA

2024-Q3 EPS reported -$1.35 revenue$53,927,000

ZYNLONTA net product revenue $18.0M in Q3 2024 vs $14.3M in Q3 2023; year-to-date $52.9M.
Net loss $44.0M ($0.42 per share) in Q3 2024 vs $46.7M ($0.57) in Q3 2023; adjusted net loss $29.4M.
Cash and cash equivalents $274.3M as of Sep 30, 2024; expected runway into mid-2026.
Discontinued ADCT-601 (AXL-targeting) due to unfavorable benefit-risk; prioritizing exatecan-based ADC platform.
LOTIS-5 Phase 3 trial (ZYNLONTA+rituximab) full enrollment expected by year-end 2024; LOTIS-7 data update in Dec 2024.

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