ADC Therapeutics reveals topline Zynlonta data, $105M stock offering

ADC Ther­a­peu­tics an­nounced a $105 mil­lion of­fer­ing af­ter shar­ing what it called pos­i­tive topline da­ta from a Phase 2 tri­al of its can­cer drug Zyn­lon­ta.

The Swiss biotech is sell­ing off 13.4 mil­lion shares for $4.90 each and pre-fund­ed war­rants to pur­chase an­oth­er 8.1 mil­lion shares for $4.81 each for cer­tain in­vestors. Its stock $AD­CT dipped around 8% on Mon­day af­ter­noon.

The com­pa­ny said Mon­day that its an­ti­body-drug con­ju­gate showed a “high re­sponse rate” in pa­tients with re­lapsed/re­frac­to­ry mar­gin­al zone lym­phoma (MZL), a rare type of non-Hodgkin lym­phoma with few treat­ment op­tions, ac­cord­ing to the com­pa­ny. Those op­tions can in­clude chemother­a­py, im­munother­a­py, surgery or Rit­ux­an. ADC CMO Mo­hamed Za­ki said in a state­ment that the com­pa­ny plans to “po­ten­tial­ly pur­sue” ap­proval for MZL if the tri­al re­sults con­tin­ue to be promis­ing.

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