The following is a summary of the ADC Therapeutics SA (ADCT) Q1 2024 Earnings Call Transcript:
Financial Performance:
ADC Therapeutics SA reported Q1 2024 revenue of $17.8 million, a 7% sequential increase over the previous quarter due to community and academic center growth.
The company reduced their operating expenses by 16% YoY on a non-GAAP basis via disciplined capital allocation strategy.
Their cash balance at the end of the first quarter was $234.3 million.
They priced an underwritten offering to raise $105 million, extending their cash runway to mid-2026, and thus increasing their financial flexibility.
Business Progress:
In their LOTIS-7 study of ZYNLONTA, they cleared the final dosing cohort in both arms with no high cases or dose-limiting toxicities being reported.
The company initiated enrolment of pancreatic cancer patients for ADCT-601 while optimising the dose and schedule.
They are conducting a 50-patient study on MZL and the LOTIS-5 trial, completing the 'Part 2 dose expansion' stage, and expect to complete enrolment of roughly 20 patients in each dosing cohort by year-end.
Despite facing competition, their product ZYNLONTA is showing promising signs, particularly with regard to the safety profile.
More details: ADC Therapeutics IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.