ADC Therapeutics S.A.
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Range $2 – $5
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About the company
ADC Therapeutics S. A. operates as a commercial-stage biotechnology company, focused on developing antibody-drug conjugates (ADCs) for the treatment of hematological malignancies and solid tumors.
- CEO
- Ameet Mallik
- IPO
- 2020
- Employees
- 191
- HQ
- Epalinges, VD, CH
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $121.66M
- P/E
- -1.44
- Fwd P/E
- 9.11
- PEG
- -0.02
- P/S
- 1.54
- P/B
- -0.65
- EV/EBITDA
- -3.65
- Div Yield
- 0.00%
- Gross Margin
- 88.75%
- Op Margin
- -125.83%
- Net Margin
- -123.03%
- ROE
- 44.63%
- ROIC
- -49.54%
Latest fiscal year · YoY change
- Revenue
- $81.36M+14.9%
- Gross Profit
- $73.68M+13.6%
- Op Income
- $-108,379,000
- Net Income
- $-142,623,000+9.6%
- EPS
- $-1.12+30.9%
- OCF Growth
- -14.0%
- FCF Growth
- -13.4%
- 52W High
- $4.98
- 52W Low
- $0.78
- 50D MA
- $1.14
- 200D MA
- $3.14
- Beta
- 1.83
- RSI (14)
- 36
- Avg Volume
- 1.89M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
ADC Therapeutics said ZYNLONTA monotherapy remained stable in Q2, but LOTIS-5 raised FDA benefit-risk concerns, shifting focus to LOTIS-7 and the company’s next regulatory path.· August 13, 2026
- ZYNLONTA Q2 product revenue was $18.6 million, up from $18.1 million a year ago, with commercial volume described as consistent with prior quarters.
- The FDA said it had “substantial concerns” about the benefit-risk or verification of clinical benefit in LOTIS-5, and ADC is now reassessing the regulatory path forward.
- LOTIS-7 enrolled 100 patients at the 150 micrograms per kg dose; management said the data submitted to ASH look compelling and safety appears generally consistent with prior disclosures.
- The company reduced workforce by about 17% in June and said the actions should deliver about $10 million of annualized cost savings.
- Cash and cash equivalents ended Q2 at $219.1 million, which management said supports a runway at least into 2028.
ZYNLONTA net product revenue in Q2 2026 was $18.6 million versus $18.1 million in Q2 2025. Cost of product sales was $2.3 million in Q2 and $6 million for the first 6 months of 2026, compared with $0.8 million and $2.9 million in the prior-year periods. Total operating expenses were $44.7 million, and adjusted operating expenses were $37.2 million, down 22% year over year. GAAP net loss was $16.6 million versus a net loss of $56.6 million a year earlier; adjusted net loss was $16.3 million versus $28.7 million. Cash and cash equivalents were $219.1 million at quarter-end, down from $231 million on March 31, 2026, and management said runway extends at least into 2028. No formal revenue or EPS guidance was provided; the main forward-looking updates were that LOTIS-5, LOTIS-7, and MZL data are expected before year-end, breakthrough designation for LOTIS-7 is planned this year, and the company is evaluating the best regulatory path for LOTIS-5.
Ameet Mallik emphasized that ZYNLONTA monotherapy continues to have a clear role in third-line-plus DLBCL and that U.S. commercial performance was broadly in line with recent quarters. Strategically, he framed the company’s growth plan around moving ZYNLONTA earlier in DLBCL and into indolent lymphomas, while also describing LOTIS-7 as potentially a best-in-class combination and a path to a leading second-line position. His tone was confident, but he also acknowledged that LOTIS-5’s regulatory path is now under review after the FDA feedback.
Pepe Carmona highlighted that Q2 ZYNLONTA product revenue was $18.6 million, with costs and expenses improving year over year as adjusted operating expenses fell 22% to $37.2 million. He attributed the lower adjusted loss to reduced operating expenses and noted a $10 million annualized cost savings benefit from the June reorganization, which included an approximately 17% workforce reduction. He also pointed to $219.1 million in cash at quarter-end and reiterated the company’s runway at least into 2028.
Analysts focused heavily on whether the FDA’s concerns about LOTIS-5 could threaten ZYNLONTA’s accelerated approval, and management said the agency’s comments were specific to the combination study, not the single-agent approval. Questions also centered on LOTIS-7’s Phase III prospects, timing, and whether Roche was involved; management said it is still early, that several design options are being considered, and that breakthrough designation will be pursued this year. On LOTIS-5 safety, management said the Grade 5 infections were primarily bacterial and stressed that LOTIS-7 includes prophylaxis and vaccinations that were not part of LOTIS-5, which they believe may matter.
The call reinforced that ZYNLONTA monotherapy is still selling steadily and management does not expect LOTIS-5 to affect the current approved indication. Management was upbeat about LOTIS-7, saying the larger ASH dataset remains compelling and could support a leading second-line position, while also planning breakthrough designation and publication/compendia steps. Cost actions and a $219.1 million cash balance also give the company time to pursue its pipeline strategy.
The biggest risk is regulatory: the FDA raised substantial concerns about LOTIS-5’s benefit-risk or clinical benefit verification, and ADC has not yet defined the path to full approval. Investors also have to wait for more data and for the company to decide whether and how to advance LOTIS-7 into Phase III, which management said is still premature to time precisely. The call also highlighted prior Grade 5 infections in LOTIS-5, mostly bacterial, underscoring that safety remains a key issue even as management argues LOTIS-7’s prophylaxis makes the programs meaningfully different.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 76.5%
- Shares Outstanding
- 127.19M
- Float Shares
- 97.25M
of shares held by institutions
117 13F filers
Buy/sell ratio 1.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 1.13M | ▲ 535.63K |
| Vantage Consulting Group Inc | 683.00K | 0 |
| Two Sigma Advisers, LP | 120.57K | ▲ 120.57K |
| Cwm, LLC | 10.36K | ▼ 8 |
| California State Teachers Retirement System | 5.57K | ▲ 265 |
Held by 77 ETFs
Biggest fund positions in ADCT by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 30, 26 | Zaki Mohamed | other | 213,900 |
| Jun 30, 26 | GRAHAM PETER J | other | 221,100 |
| Jun 30, 26 | Carmona Jose | other | 203,700 |
| Jun 30, 26 | MALLIK AMEET | other | 675,000 |
| Mar 31, 26 | Redmile Group, LLC | sell | 196,229 |
| Apr 1, 26 | Redmile Group, LLC | sell | 169,265 |
| Mar 31, 26 | Redmile Group, LLC | sell | 188,407 |
| Apr 1, 26 | Redmile Group, LLC | sell | 162,517 |
| Apr 2, 26 | Redmile Group, LLC | sell | 2,634,506 |
| Apr 2, 26 | Redmile Group, LLC | sell | 2,529,491 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our ADCT coverage
Recent articles, reports, and earnings notes.
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Generate ADCT report →ADC Therapeutics Q2 Earnings Call Highlights
marketbeat.com · Aug 13
ADC Therapeutics SA (ADCT) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 13
ADC Therapeutics SA (ADCT) Reports Q2 Loss, Lags Revenue Estimates
zacks.com · Aug 13
ADC Therapeutics Reports Second Quarter 2026 Financial Results and Provides Operational Updates
prnewswire.com · Aug 13
ADC Therapeutics to Host Second Quarter 2026 Financial Results Conference Call on August 13, 2026
prnewswire.com · Aug 6
ADC Therapeutics Announces New Employee Inducement Grant
prnewswire.com · Jul 1
ADC Therapeutics Announces Completion of Enrollment in LOTIS-7 Phase 1b ZYNLONTA® Combination Trial
prnewswire.com · Jun 30
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ADC Therapeutics SA - ADCT
prnewswire.com · Jun 25
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