The filing highlights the ongoing involvement of Redmile Group and its affiliates in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction. Track institutional movements and access comprehensive analysis with InvestingPro, which offers detailed insights through its Pro Research Report, available for over 1,400 US stocks. Track institutional movements and access comprehensive analysis with InvestingPro, which offers detailed insights through its Pro Research Report, available for over 1,400 US stocks.
The filing highlights the ongoing involvement of Redmile Group and its affiliates in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction. Track institutional movements and access comprehensive analysis with InvestingPro, which offers detailed insights through its Pro Research Report, available for over 1,400 US stocks.
The filing highlights the ongoing involvement of Redmile Group and its affiliates in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction.
In other recent news, ADC Therapeutics, a Switzerland-based pharmaceutical company, has seen significant developments. The company's shareholders approved amendments to its articles of association, resulting in an increase in the capital range. This decision was taken during an extraordinary general meeting, receiving a majority vote. The amendments, which took effect immediately, are aimed at increasing the company's conditional share capital for financing, acquisitions, and other purposes.
In the financial realm, ADC Therapeutics reported Q3 2024 net product revenues of $18 million, bringing the total to $52.9 million year-to-date. Despite this, the company reported a net loss of $44 million for Q3 2024, albeit an improvement from the previous year's loss of $46.7 million.
Regarding clinical trials, ADC Therapeutics announced that enrollment for the LOTIS-5 Phase III study of ZYNLONTA is nearing completion, with data expected by the end of 2025. Interim data from the LOTIS-7 study is anticipated in December 2024. However, the AXL601 solid tumor program has been discontinued due to insufficient efficacy and tolerability. These are recent developments investors should note.
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