ADC Therapeutics Q2 loss narrows; cuts 17% workforce
ADCT•Outlook
- ADC Therapeutics anticipates growth starting in 2027
- Company is assessing regulatory path for ZYNLONTA after FDA feedback on LOTIS-5 trial
- ADC Therapeutics expects to provide an update on regulatory strategy and timing in the near future
Overview
- Switzerland antibody drug conjugate developer's Q2 net loss narrowed, beating analyst expectations
- Q2 net product revenue rose slightly year-over-year, driven by higher price
- Company cut workforce by 17% to save $10 mln annually after completing key trials
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Loss | Beat | $16.57 mln | $33.96 mln (5 Analysts) |
| Q2 Income from Operations | Miss | -$25.41 mln | -$24.36 mln (5 Analysts) |
| Q2 Loss Per Basic Share | $0.11 |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
- Wall Street's median 12-month price target for ADC Therapeutics SA is $2.50, about 103.3% above its August 12 closing price of $1.23
