ADC Therapeutics Q2 Loss Narrows to $16.6M, Beats Estimates; Cuts 17% Workforce
ADCT sits 60% above its 52-week low of $0.78 on light trading volume (0.3× avg).
Summary
ADC Therapeutics reported Q2 net loss of $16.57M, beating consensus of $33.96M, with net product revenue up slightly year-over-year on higher pricing. The company also cut 17% of its workforce to save $10M annually, a move previously announced in June. Management now expects growth starting in 2027 and is assessing the regulatory path for ZYNLONTA after FDA feedback on the LOTIS-5 trial, with an update on strategy and timing expected in the near future. The stock trades at $1.25 with a median analyst price target of $2.50.
At the time of this announcement, ADCT was trading at $1.25 on NYSE in the Life Sciences sector, with a market capitalization of approximately $156.4M. The 52-week trading range was $0.78 to $4.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.