ADC Therapeutics raises $60 million in private equity financing

ADC Therapeutics SA (NYSE: ADCT) announced it has entered securities purchase agreements for a $60 million private investment in public equity financing with institutional investors.

The Swiss antibody drug conjugate company is selling 11.3 million common shares at $4.00 per share and pre-funded warrants to purchase 3.8 million common shares at $3.90 per pre-funded warrant. The financing is led by TCGX and includes participation from Redmile Group and other existing investors.

The transaction is expected to close on October 27, 2025, subject to customary closing conditions. ADC Therapeutics plans to use the net proceeds to invest in commercial expansion of its drug ZYNLONTA and strengthen its balance sheet, along with funding working capital and general corporate purposes.

"This financing enhances our ability to prepare for and execute the potential relaunch of ZYNLONTA in 2027 and further strengthens our balance sheet relative to our previously disclosed cash runway into 2028," said Ameet Mallik, Chief Executive Officer.

The company expects net product revenues from ZYNLONTA sales to be approximately $15.8 million for the third quarter ended September 30, 2025. Cash and cash equivalents totaled $234.7 million as of September 30, 2025. After accounting for estimated net proceeds of approximately $57.6 million from the financing, the company would have had approximately $292.3 million in cash and cash equivalents.

ZYNLONTA is a CD19-directed antibody drug conjugate approved by the FDA and European Commission for treating relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy.

Jefferies is acting as placement agent for the transaction. The securities are being offered in a private placement not involving a public offering.

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