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ADC Therapeutics SA provides antibody drug conjugate (ADC) technology platform in Switzerland and the United States. Its flagship product includes ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S. Food and Drug Administration, conditional approval from the European Commission, and conditional approval from the China National Medical Products Administration for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. The company is also seeking to continue expanding ZYNLONTA into international markets and into earlier lines of DLBCL and indolent lymphomas, including follicular lymphoma (FL) and marginal zone lymphoma (MZL) as a single agent and in combination through its LOTIS-5 confirmatory Phase 3 clinical trial and LOTIS-7 Phase 1b clinical trial, as well as through investigator-initiated trials (IITs). In addition, it is investigating a CD-22 targeted compound' and ADCT-602 that is in a Phase 1/2 IIT in refractory B-cell acute lymphoblastic leukemia. Further, the company's pre-clinical stage pipeline includes a portfolio of next generation investigational ADCs targeting Claudin-6, NaPi2b, PSMA, NaPi2b, and ASCT2. ADC Therapeutics SA was incorporated in 2011 and is headquartered in Epalinges, Switzerland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $81M | $-88M | $-143M | $-141M | 76.7% | 14.9% | -9.6% |
| 2024 | $71M | $-103M | $-158M | $-125M | 77.9% | 1.8% | -34.2% |
| 2023 | $70M | $-146M | $-240M | $-122M | 161.9% | -66.9% | 52.8% |
| 2022 | $210M | $-108M | $-157M | $-139M | -197.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 209.91 | 69.56 | 70.84 | 81.36 |
| Operating Revenue | - | 209.91 | 69.56 | 70.84 | 81.36 |
| Cost Of Revenue | - | 3.30 | 2.53 | 5.95 | 5.80 |
| Gross Profit | - | 206.61 | 67.03 | 64.89 | 75.56 |
| Operating Expense | - | 329.59 | 232.08 | 194.48 | 182.77 |
| Research And Development | - | 186.46 | 127.13 | 109.63 | 104 |
| Selling General And Administration | - | 143.49 | 105.89 | 85.91 | 79.93 |
| Total Expenses | - | 332.90 | 234.61 | 200.43 | 188.56 |
| Operating Income | - | -122.99 | -165.05 | -129.59 | -107.21 |
| Total Operating Income As Reported | - | -123.34 | -165.99 | -130.65 | -121.50 |
| EBITDA | - | -107.70 | -145.83 | -102.65 | -88.10 |
| Normalized EBITDA | - | -91.12 | -145.78 | -102.57 | -74.31 |
| EBIT | - | -110.09 | -149.09 | -105.92 | -89.98 |
| Interest Income | - | 2.57 | 10.54 | 12.27 | 8.81 |
| Interest Expense | - | 36.73 | 46.32 | 50.21 | 51.63 |
| Net Interest Income | - | -34.16 | -35.78 | -37.94 | -42.82 |
| Other Non Operating Income Expenses | - | 26.91 | 5.47 | 11.47 | 22.21 |
| Other Income Expense | - | 10.33 | 5.42 | 11.39 | 8.42 |
| Interest Income Non Operating | - | 2.57 | 10.54 | 12.27 | 8.81 |
| Interest Expense Non Operating | - | 36.73 | 46.32 | 50.21 | 51.63 |
| Net Non Operating Interest Income Expense | - | -34.16 | -35.78 | -37.94 | -42.82 |
| Pretax Income | - | -146.82 | -195.42 | -156.14 | -141.61 |
| Tax Provision | - | 0.23 | 39.11 | 0.17 | 1.01 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.48 | -0.01 | -0.02 | -2.90 |
| Net Income Continuous Operations | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Net Income From Continuing And Discontinued Operation | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Net Income From Continuing Operation Net Minority Interest | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Net Income | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Net Income Common Stockholders | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Net Income Including Noncontrolling Interests | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Normalized Income | - | -144.04 | -240.01 | -157.78 | -131.73 |
| Diluted NI Availto Com Stockholders | - | -157.13 | -240.05 | -157.85 | -142.62 |
| Basic Average Shares | 76.68 | 78.15 | 81.71 | 97.16 | - |
| Diluted Average Shares | 76.68 | 78.15 | 81.71 | 97.16 | - |
| Reconciled Depreciation | - | 2.39 | 3.27 | 3.28 | 1.88 |
| Reconciled Cost Of Revenue | - | 3.30 | 2.53 | 5.95 | 5.80 |
| Total Unusual Items | - | -16.57 | -0.05 | -0.08 | -13.79 |
| Total Unusual Items Excluding Goodwill | - | -16.57 | -0.05 | -0.08 | -13.79 |
| Earnings From Equity Interest Net Of Tax | - | -10.08 | -5.53 | -1.54 | 0 |
| Special Income Charges | - | -42.11 | 0 | 0 | -13.12 |
| Other Special Charges | - | 42.11 | - | - | 1.33 |
| Impairment Of Capital Assets | - | - | - | - | 5.76 |
| Restructuring And Mergern Acquisition | - | - | - | - | 6.03 |
| Gain On Sale Of Security | - | 25.54 | -0.05 | -0.08 | -0.67 |
| General And Administrative Expense | - | 107.74 | 72.88 | 64.47 | 60.45 |
| Other Gand A | - | 25.98 | 20.54 | 17.68 | 13.91 |
| Salaries And Wages | - | 81.76 | 52.34 | 46.78 | 46.54 |
| Selling And Marketing Expense | - | 35.75 | 33.01 | 21.44 | 19.48 |
| Earnings From Equity Interest | -6.67 | -10.08 | - | - | - |
| Other Taxes | - | -0.36 | -0.94 | -1.06 | -1.17 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ADC Therapeutics SAthis co. | ADCT | $168M | -1.18 | -0.90 | 76.7% | -0.27 |
| MediWound Ltd. | MDWD | $186M | -7.78 | 4.26 | -54.7% | -8.81 |
| Stereotaxis, Inc. | STXS | $184M | -8.49 | 13.63 | -160.5% | -8.55 |
| Quanterix Corporation | QTRX | $179M | -1.67 | 0.61 | -36.2% | -2.05 |
| Journey Medical Corporation | DERM | $171M | -14.98 |
| - |
| - |
| - |
| - |
| - |
| 5.38 |
| -35.9% |
| -51.87 |
| Inogen, Inc. | INGN | $171M | -7.51 | 0.89 | -11.8% | -8.86 |
| Protalix BioTherapeutics, Inc. | PLX | $162M | - | 3.36 | -13.7% | - |
| Korro Bio, Inc. | KRRO | $161M | -1.38 | 3.13 | -228.0% | -2.20 |
| CVRx, Inc. | CVRX | $156M | - | 3.97 | -135.6% | - |
| Peer Median | - | -7.64 | 3.66 | -45.5% | -8.68 | |