ADC Therapeutics SA (ADCT) has reported its fourth quarter and full-year 2025 financial results, showing improved net loss figures compared with the prior year as the company continues to streamline operations and advance its ZYNLONTA clinical programs.
For the fourth quarter of 2025, ADC posted a net loss of $6.4 million, or a net loss of $0.04 per basic and diluted share, a significant improvement from the $30.7 million, or a net loss of $0.29 per basic and diluted share for the same period in 2024.
The company attributed the reduced loss to lower operating expenses and a favorable adjustment related to its deferred royalty obligation.
Product revenue for the quarter rose to $22.3 million, up from $16.4 million a year earlier, reflecting stable demand and variability in customer ordering.
For the full year 2025, the company recorded a net loss of $142.6 million, or a net loss of $1.12 per basic and diluted share, narrowing from $157.8 million, or a net loss of $1.62 per basic and diluted share.
Full-year product revenue increased to $73.6 million, compared with $69.3 million in the prior year, driven primarily by higher selling prices.
ADC noted that its restructuring plan announced in June 2025 contributed to lower expenses, though the company also incurred $13.1 million in restructuring and impairment charges tied to workforce reductions and the closure of its UK facility.ADC ended 2025 with $261.3 million in cash and cash equivalents supported by two PIPE financings completed during the year. The company said this cash position provides runway at least into 2028.
Operationally, ADC highlighted upcoming catalysts across its ZYNLONTA program, its approved therapy for certain aggressive lymphomas. The ongoing LOTIS studies are evaluating whether ZYNLONTA can be used earlier in treatment or in combination with other cancer medicines.
Topline LOTIS-5 Phase 3 data are expected in the second quarter of 2026, with full LOTIS-5 and LOTIS-7 anticipated by year-end 2026. Assuming positive outcomes, the company expects to pursue regulatory filings and potential compendia inclusion in 2027.
ADC also amended its royalty financing agreement with HealthCare Royalty in February 2026, reducing future change-of-control payment obligations and increasing strategic flexibility.
ADCT has traded between $1.05 and $4.80 over the past year. The stock is currently trading at $4.48, up 5.91%.
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