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ADC Therapeutics Reports Q2 Results, Cuts Costs Amid FDA Setback

ADC Therapeutics logoADC Therapeutics
Sig2.22Sen-1.25Env0.00Soc-1.75Gov-0.20

ADC Therapeutics’ Q2 earnings call delivered a mixed message as ZYNLONTA net product revenue held steady at $18.6 million. Operating expenses fell 29% to $44.7 million, driven by a drop in R&D spending and a June reorganization that included a 17% workforce reduction expected to add $10 million in annualized savings. Net loss narrowed, but selling and marketing and interest expense rose.

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