ADC Therapeutics Q4 Revenue Up 36%, Loss Narrows to $0.04
Q4 2025 net product revenue reached $22.3 million, up from $16.4 million in Q4 2024, while net loss narrowed to $6.4 million ($0.04 per share) from $30.7 million ($0.29). ADC Therapeutics cut operating expenses by roughly 50% and ended 2025 with $261.3 million cash, extending runway into 2028.
1. Q4 2025 Financial Highlights
ADC Therapeutics reported Q4 net product revenue of $22.3 million, a 36% increase year-over-year, and reduced its quarterly net loss to $6.4 million ($0.04 per share) from $30.7 million ($0.29) in Q4 2024.
2. Operating Efficiency Improvements
Total operating expenses for Q4 fell to $41 million, with non-GAAP adjusted expenses at $39.4 million, reflecting a roughly 50% reduction in cost structure compared to the prior year.
3. Strong Cash Position
The company closed 2025 with $261.3 million in cash and equivalents, up from $250.9 million, securing a projected cash runway into 2028 to support ongoing operations and development.
4. Market Outlook and Pipeline
Zynlonta achieved a 10% share in third-line plus monotherapy settings, and ADC Therapeutics projects potential peak U.S. revenue of $600 million to $1 billion pending regulatory and compendia approvals, with a pivotal LOTIS-5 top-line readout expected in Q2.