Caesars Entertainment misses Q2 earnings expectations, shares edge lower
NEW YORK - On Thursday, ADC Therapeutics SA (NYSE:ADCT) reported fourth quarter financial results that beat earnings expectations but fell short on revenue.
The company’s stock was unchanged in after-hours trading following the earnings release.
The antibody drug conjugate developer posted adjusted earnings per share of -$0.25, surpassing analyst estimates of -$0.43. However, revenue of $16.91 million missed the consensus forecast of $18.85 million.
For the full year 2024, ADC Therapeutics generated net product revenues of $69.3 million from sales of its lymphoma drug ZYNLONTA, up slightly from $69.1 million in 2023.
The company highlighted progress on several clinical programs, including completing enrollment in its confirmatory Phase 3 LOTIS-5 trial evaluating ZYNLONTA in combination with rituximab for relapsed/refractory diffuse large B-cell lymphoma. ADC Therapeutics expects to provide updated data from this study in late 2025.
Additionally, initial data from the Phase 1b LOTIS-7 trial of ZYNLONTA plus glofitamab showed a 94% overall response rate and 72% complete response rate in relapsed/refractory non-Hodgkin lymphoma patients.
ADC Therapeutics ended 2024 with $250.9 million in cash and cash equivalents, which it expects will fund operations into the second half of 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.