ADC Therapeutics SA ADCT
ADC Therapeutics is a commercial-stage global pioneer in the field of antibody drug conjugates ("ADCs"), transforming treatment for patients through our focused portfolio with ZYNLONTA (loncastuximab tesirine-lpyl), a CD19-directed ADC. ZYNLONTA received accelerated approval from the U.S. Food and Drug Administration ("FDA") and conditional approval from the European Commission, China National Medical Products Administration ("NMPA") and Health Canada for the treatment of relapsed or refractory DLBCL after two or more lines of systemic therapy. We are pursuing expansion of ZYNLONTA internationally, and into earlier lines of diffuse large B-cell lymphoma ("DLBCL") through our LOTIS-5 confirmatory Phase 3 clinical trial (rituximab combination) and LOTIS-7 Phase 1b clinical trial (bispecific combination) as well as into indolent lymphomas, including marginal zone lymphoma ("MZL") and follicular lymphoma ("FL"), through investigator-initiated trials ("IITs") at leading institutions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.4M | $70.8M | $69.6M | $74.9M | — | — | — | — | — |
| Cost of revenue | $5.8M | $5.9M | $2.5M | $3.3M | — | — | — | — | — |
| Gross profit | $75.6M | $64.9M | $67.0M | $71.6M | — | — | — | — | — |
| R&D | $104.0M | $109.6M | $127.1M | $186.5M | — | — | — | — | — |
| SG&A | $36.6M | $41.9M | $48.4M | $74.4M | — | — | — | — | — |
| Total operating expenses | $202.9M | $201.5M | $235.5M | $333.3M | — | — | — | — | — |
| Operating income | -$121.5M | -$130.7M | -$166.0M | -$123.3M | -$261.7M | -$219.3M | -$119.4M | -$125.9M | — |
| Interest expense | $51.6M | $50.2M | $46.3M | $36.7M | — | — | — | — | — |
| Pre-tax income | -$141.6M | -$156.1M | -$195.4M | -$146.8M | — | — | — | — | — |
| Income tax | $1.0M | $166.0K | $39.1M | $227.0K | — | — | — | — | — |
| Net income | -$142.6M | -$157.8M | -$240.1M | -$157.1M | -$230.0M | -$246.3M | -$116.5M | -$123.1M | — |
| EPS, basic | -1.12 | -1.62 | -2.94 | -2.01 | — | — | — | — | — |
| EPS, diluted | -1.12 | -1.62 | -2.94 | -2.01 | — | — | — | — | — |
| Shares, diluted (wtd. avg.) | $127.1M | $97.2M | $81.7M | $78.2M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $261.3M | $250.9M | $278.6M | $326.4M | $466.5M | — | — | — | — |
| Inventory | $4.2M | $2.3M | $16.2M | $12.1M | — | — | — | — | — |
| Total current assets | $306.3M | $291.3M | $336.3M | $435.0M | — | — | — | — | — |
| Property, plant and equipment | $0 | $5.1M | $5.6M | $3.4M | — | — | — | — | — |
| Total assets | $323.1M | $322.0M | $354.8M | $490.9M | $618.0M | $513.7M | $137.7M | — | — |
| Accounts payable | $9.2M | $18.0M | $15.6M | $12.4M | — | — | — | — | — |
| Short-term debt | $3.0M | $0 | — | — | — | — | — | — | — |
| Total current liabilities | $70.2M | $80.5M | $67.7M | $81.9M | — | — | — | — | — |
| Total liabilities | $509.0M | $524.6M | $503.0M | $411.4M | — | — | — | — | — |
| Retained earnings | -$1.64B | -$1.49B | -$1.34B | -$1.10B | — | — | — | — | — |
| Total equity | -$185.8M | -$202.6M | -$148.2M | $79.5M | $154.0M | $335.5M | $111.2M | $126.2M | $249.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$141.2M | -$123.8M | -$118.7M | -$138.3M | — | — | — | — | — |
| Depreciation and amortisation | $705.0K | $1.3M | $1.2M | $1.1M | — | — | — | — | — |
| Stock-based compensation | $6.9M | $6.6M | $13.5M | $49.3M | — | — | — | — | — |
| Capital expenditure | $264.0K | $867.0K | $3.2M | $687.0K | — | — | — | — | — |
| Investing cash flow | $395.0K | -$867.0K | -$3.2M | -$687.0K | — | — | — | — | — |
| Financing cash flow | $150.9M | $97.1M | $73.9M | -$897.0K | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015491.
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