ADCT Stock — ADC Therapeutics SA: Cash, EV, Pipeline

What they do

ADC Therapeutics is a commercial-stage global pioneer in the field of antibody drug conjugates (“ADCs”), transforming treatment for patients through our focused portfolio with ZYNLONTA (loncastuximab tesirine-lpyl), a CD19-directed ADC.

Source: 10-K FY2025 via SEC EDGAR

Share price

$1.36

Market cap

$173.6M

Cash

$219.1M

Enterprise value

$280.3M

Balance sheet

Cash	$219.1M
Debt	$0.0M
Royalty-sale liability	$325.8M
Net cash	$219.1M
Enterprise value	$280.3M
Basic shares	127.7M shares
Fully diluted shares	187.4M shares
Fully diluted market cap	$254.8M
Cash per share	$1.72
Quarterly burn	$11.8M
Cash runway	18.6 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-13.

Royalty-sale liability as of 2026-09-30 (10-Q); included in enterprise value.

Share structure

Common

127.7M

Pre-funded warrants

27.7M

Options

10.0M

RSUs

11.4M

Warrants

10.4M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.2M

FDSO

187.4M

Cap table as of 2026-06-30.

Price history

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Next catalyst

ZYNLONTA (loncastuximab tesirine-lpyl) · Est. Nov 14, 2026 · guidance midpoint · guided Now

Recently reported

Loncastuximab Tesirine Positive · 2026-06-03

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 14, 2026 Now guidance midpoint	ZYNLONTA (loncastuximab tesirine-lpyl) LOTIS-7 Phase 1b ZYNLONTA + glofitamab in r/r DLBCL, Breakthrough Therapy designation submission	Phase 1b	r/r DLBCL	2026
GUIDEDDec 1-31 in 17d	ZYNLONTA (loncastuximab tesirine-lpyl) investigator-initiated Phase 2 monotherapy in marginal zone lymphoma, updated data presentation; BTD submission planned	Phase 2	marginal zone lymphoma	before end of 2026
GUIDEDEst. May 16, 2027 in 5 mo quarter midpoint	ZYNLONTA (loncastuximab tesirine-lpyl) investigator-initiated Phase 2 in combination with rituximab in r/r follicular lymphoma, updated data presentation	Phase 2	r/r follicular lymphoma	Q2 2027
May 12 - Jun 23 in 6 mo	Loncastuximab Tesirine	Phase 1	B-Cell Non-Hodgkin Lymphoma; Relapsed B-Cell Non-Hodgkin Lymphoma; Refractory B-Cell Non-Hodgkin Lymphoma	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

ZYNLONTA

Approved · Active Modality: CD19-directed antibody-drug conjugate

Aliases loncastuximab tesirine-lpyl

Target CD19

Partnerships Sobi (ex-US commercialization rights, excluding Greater China, Singapore, and Japan)

Indications

relapsed/refractory diffuse large B-cell lymphoma, third-line plus (Stage not disclosed)
earlier-line diffuse large B-cell lymphoma (LOTIS-5, Phase 3) (Stage not disclosed)
follicular lymphoma (Phase 2 investigator-initiated) (Stage not disclosed)
marginal zone lymphoma (Phase 2 investigator-initiated) (Stage not disclosed)

Catalysts

— None
— None
— None

Status note Approved for 3L+ R/R DLBCL. LOTIS-5 regulatory path under reassessment after FDA benefit-risk concerns.

PSMA-targeting ADC (unnamed)

Preclinical · Active Modality: antibody-drug conjugate

Target PSMA

Indications

not disclosed (Stage not disclosed)

Status note IND-enabling activities completed. Remaining solid-tumor preclinical programs were discontinued in the June 2025 restructuring.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Loncastuximab Tesirine
Lead indication	Relapsed Diffuse Large B-Cell Lymphoma; Refractory Diffuse Large B-Cell Lymphoma
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT04384484	Phase 3	Active, not recruiting	Sponsor	ADC Therapeutics S.A.	—	Relapsed Diffuse Large B-Cell Lymphoma; Refractory Diffuse Large B-Cell Lymphoma	—
NCT04970901	Phase 1	Active, not recruiting	Sponsor	ADC Therapeutics S.A.	—	B-Cell Non-Hodgkin Lymphoma; Relapsed B-Cell Non-Hodgkin Lymphoma; Refractory B-Cell Non-Hodgkin Lymphoma	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for ADC Therapeutics S.A. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
DAFNA Capital	77,081	+5,000	0.02%	2026-08-14
OrbiMed Advisors	0	-1,318,026	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ADCT — ADC Therapeutics SA ☆