ADC Therapeutics Ltd ( (ADCT) ) has released its Q4 earnings. Here is a breakdown of the information ADC Therapeutics Ltd presented to its investors.
ADC Therapeutics Ltd, based in Lausanne, Switzerland, is a commercial-stage company specializing in the development of antibody drug conjugates (ADCs) for the treatment of hematologic malignancies and solid tumors. The company is noted for its innovative ADC technology, particularly its CD19-directed ADC, ZYNLONTA, which has received accelerated approval for treating relapsed or refractory diffuse large B-cell lymphoma.
In its latest earnings report, ADC Therapeutics highlighted several significant achievements for the year 2024, including the completion of enrollment in the LOTIS-5 Phase 3 trial and promising initial data from the LOTIS-7 Phase 1b trial. The company also reported a solid financial position with $250.9 million in cash, expected to fund operations into the second half of 2026.
Key financial metrics from the report indicate that ZYNLONTA achieved commercial brand profitability, generating $69.3 million in net product revenues for the year. The company also reported a reduction in operating expenses, with research and development costs decreasing to $109.6 million and selling and marketing expenses down to $44.0 million. The net loss for the year was significantly reduced to $157.8 million, compared to $240.1 million in 2023, primarily due to lower operating expenses and income tax benefits.
Operationally, ADC Therapeutics is advancing its clinical trials, with the LOTIS-5 trial fully enrolled and the LOTIS-7 trial showing a 94% overall response rate. The company is also exploring new therapeutic combinations and earlier lines of therapy for ZYNLONTA, while continuing to develop other ADCs targeting different cancer types.
Looking ahead, ADC Therapeutics remains focused on achieving pivotal milestones in 2025, with expectations to share further data from ongoing trials and continue its strategic initiatives to expand ZYNLONTA’s market presence and therapeutic applications.