ADC Therapeutics SA is a commercial-stage biotechnology company based in Switzerland that develops and commercializes antibody-drug conjugates (ADCs) for the treatment of cancer. The company's lead product, ZYNLONTA, is an FDA-approved targeted therapy for patients with certain types of blood cancer, such as relapsed or refractory diffuse large B-cell lymphoma. ADC Therapeutics focuses on proprietary ADC technology designed to deliver cell-killing payloads directly to tumor cells.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
81,357
70,837
69,558
209,908
Cost of Sales
5,798
5,949
2,529
3,301
Gross Profit
75,559
64,888
67,029
206,607
Selling, General & Administrative Expenses
79,933
85,909
105,888
143,494
Research & Development Expenses
104,005
109,633
127,127
186,457
Other Operating Expenses
13,120
—
—
—
Operating Profit
(121,499)
(130,654)
(165,986)
(123,344)
Interest and Investment Income
8,810
12,272
10,540
2,568
Interest Expense
(51,633)
(50,211)
(46,325)
(36,731)
Non-Operating Income
22,714
12,457
6,352
10,690
Total Non-Operating Income
(20,109)
(25,482)
(29,433)
(23,473)
Income Before Provision for Income Taxes
(141,608)
(156,136)
(195,419)
(146,817)
Provision for Income Taxes
1,015
166
39,106
227
Consolidated Net Income
(142,623)
(156,302)
(234,525)
(147,044)
Net Income Attributable to Minority Interests and Other
—
1,544
5,528
10,084
Net Income Attributable to Common Shareholders
(142,623)
(157,846)
(240,053)
(157,128)
Basic EPS
-1.12
-1.62
-2.94
-1.95
Diluted EPS
-1.12
-1.62
-2.94
-1.95
Basic Weighted Average Shares Outstanding
127,068
97,160
81,712
80,643
Diluted Weighted Average Shares Outstanding
127,068
97,160
81,712
80,643
Shares Outstanding
125,749
98,861
82,293
80,643
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
261,338
250,867
278,598
326,441
Total Cash and Cash Equivalents
261,338
250,867
278,598
326,441
Accounts Receivable
29,117
20,316
25,182
72,971
Total Trade Receivables
29,117
20,316
25,182
72,971
Inventories
4,184
2,251
16,177
18,564
Other Current Assets
11,696
17,820
16,334
28,039
Total Current Assets
306,335
291,254
336,291
446,015
Net Property, Plant & Equipment
1,297
13,429
16,133
9,981
Net Intangible Assets
—
—
—
14,360
Long-Term Investments
—
—
1,647
31,152
Other Long-Term Assets
15,518
17,297
711
27,660
Total Assets
323,150
321,980
354,782
529,168
Accounts Payable
9,175
18,029
15,569
12,351
Accrued Expenses
57,988
62,440
52,101
—
Current Portion of Long-Term Debt
3,000
—
—
12,474
Current Portion of Leases
—
—
—
1,097
Other Current Liabilities
—
—
—
73,035
Total Current Liabilities
70,163
80,469
67,670
98,957
Long-Term Debt
112,452
113,632
112,730
97,240
Leases
1,034
7,995
10,180
6,564
Other Long-Term Liabilities
325,335
322,526
312,451
212,353
Total Long-Term Liabilities
438,821
444,153
435,361
316,157
Total Liabilities
508,984
524,622
503,031
440,441
Common Stock
11,080
8,425
7,312
7,312
Treasury Stock
(205)
(220)
(541)
(679)
Additional Paid-in Capital
1,439,749
1,283,892
1,180,545
1,163,135
Accumulated Other Comprehensive Income
(517)
(1,421)
(93)
(356)
Retained Earnings
(1,635,941)
(1,493,318)
(1,335,472)
(1,080,685)
Total Common Shareholders' Equity
(185,834)
(202,642)
(148,249)
88,727
Total Shareholders' Equity
(185,834)
(202,642)
(148,249)
88,727
Total Liabilities and Shareholders' Equity
323,150
321,980
354,782
529,168
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(142,623)
(157,846)
(240,053)
(157,128)
Depreciation & Amortization
1,876
3,276
3,267
2,388
Share-Based Compensation Expense
6,905
6,568
13,495
49,322
Other Adjustments
18,023
20,341
60,334
15,832
Changes in Trade Receivables
(8,789)
4,771
47,789
(42,753)
Changes in Inventories
(2,381)
(3,728)
(5,712)
(9,651)
Changes in Accounts Payable
(9,038)
2,462
3,173
310
Changes in Accrued Expenses
(7,420)
11,140
(14,143)
16,246
Changes in Other Operating Activities
2,273
(10,819)
13,164
(12,877)
Cash from Operating Activities
(141,174)
(123,835)
(118,686)
(138,311)
Capital Expenditure
(264)
(867)
(3,216)
(687)
Proceeds from Sale of Property, Plant & Equipment
659
—
—
—
Cash from Investing Activities
395
(867)
(3,216)
(687)
Issuance of Long-Term Debt
—
—
73,102
115,597
Repayments of Long-Term Debt
—
—
—
(118,304)
Net Issuance / (Repayments) of Long-Term Debt
—
—
73,102
(2,707)
Issuance of Common Shares
152,459
98,217
773
6,130
Net Issuance / (Repurchases) of Common Shares
152,459
98,217
773
6,130
Other Financing Activities
(1,514)
(1,163)
—
(4,320)
Cash from Financing Activities
150,945
97,054
73,875
(897)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
305
(83)
184
(208)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash