ADC Therapeutics Ltd (ADCT)
NYSE:ADCT
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ADC Therapeutics
(NYSE:ADCT)
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Rating:47Neutral
Price Target:
$1.00
▼(-76.64% Downside)
Action:Reiterated
Date:06/04/26
Overall score is held down primarily by weak financial performance (persistent losses, cash burn, negative equity and rising leverage) and bearish technicals (below key moving averages with negative MACD). Offsetting factors include constructive operational trends and cash runway discussed on the earnings call, plus a positive Phase 3 readout, but valuation is not meaningfully supportive given ongoing losses and no dividend.
Positive Factors
Phase‑3 clinical validation (LOTIS‑5)
A positive Phase‑3 readout provides durable clinical validation of ZYNLONTA in combination with rituximab, underpinning regulatory discussions, enabling an sBLA path and compendia inclusion. This materially increases the probability of label expansion and a larger, sustainable commercial market if approvals follow.
Negative Factors
Negative shareholders' equity and rising debt
Negative equity and rising debt are structural constraints that limit financial flexibility, increase borrowing costs and elevate dilution risk from future financings. Over the medium term this weak capital base can hinder strategic investments, raise covenant/default risk, and constrain growth funding options.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase‑3 clinical validation (LOTIS‑5)
A positive Phase‑3 readout provides durable clinical validation of ZYNLONTA in combination with rituximab, underpinning regulatory discussions, enabling an sBLA path and compendia inclusion. This materially increases the probability of label expansion and a larger, sustainable commercial market if approvals follow.
Read all positive factors
ADC Therapeutics (ADCT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$131.01M
Dividend YieldN/A
Average Volume (3M)1.68M
Price to Earnings (P/E)―
Beta (1Y)2.32
Revenue Growth4.43%
EPS Growth27.41%
CountryUS
Employees263
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.05
Shares Outstanding127,191,154
10 Day Avg. Volume2,647,922
30 Day Avg. Volume1,683,638
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)-2.41
Price to Sales (P/S)5.51
P/FCF Ratio-3.17
Enterprise Value/Market Cap4.75
Enterprise Value/Revenue7.87
Enterprise Value/Gross Profit8.67
Enterprise Value/Ebitda-7.09
Forecast
1Y Price Target
$6.25Price Target Upside46.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.84
Revenue Forecast (FY)$80.79M
ADC Therapeutics Business Overview & Revenue Model
Company Description
ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for th...
How the Company Makes Money
ADC Therapeutics makes money primarily through product revenue from sales of ZYNLONTA in its approved markets. This includes revenue recognized from commercialization activities (selling the drug via specialty distribution channels to healthcare p...
ADC Therapeutics Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call balanced solid operational and financial execution (revenue growth ~15%, 13% reduction in adjusted operating expenses, improved GAAP and non-GAAP losses, and a cash runway into 2028) with near-term risks tied to clinical outcomes and ongoing cost reallocation (higher COGS and quarter-over-quarter cash decline). Management highlighted multiple upcoming data catalysts (LOTIS-5, LOTIS-7, IITs) that could materially drive future growth if positive, but outcome uncertainty and no expected 2026 revenue upside temper near-term outlook.Positive Updates
Net Product Revenue Growth
Q1 2026 net product revenues of $20.0M versus $17.4M in Q1 2025, an increase of approximately 15%, driven primarily by quarter-to-quarter customer ordering variability with underlying demand described as broadly stable.
Negative Updates
Decrease in Licensing Revenues and Royalties
Licensing revenues and royalties were lower in Q1 2026 compared with Q1 2025 due to a $5M milestone received in the prior-year period, reducing non-product revenue comparatives.
Read all updates
Q1-2026 Updates
Positive
Negative
Net Product Revenue Growth
Q1 2026 net product revenues of $20.0M versus $17.4M in Q1 2025, an increase of approximately 15%, driven primarily by quarter-to-quarter customer ordering variability with underlying demand described as broadly stable.
Read all positive updates
Company Guidance
The company guided that LOTIS‑5 top‑line data are expected in Q2 2026 (before end of June) and that the program remains blinded and not yet database‑locked but is on track; if positive they plan an sBLA submission by year‑end 2026 with full publication and compendia inclusion in H1 2027 and confirmatory approval thereafter, and they reiterated potential U.S. peak annual revenues of $600M–$1B (assuming compendia listing and approval). Other milestones: LOTIS‑7 enrollment (~100 patients at selected dose) to complete in Q2 with full data by year‑end 2026; indolent lymphoma IIT data expected end‑2026 to mid‑2027. Q1 financial and operating metrics: net product revenue $20.0M (vs $17.4M YoY), licensing/royalties lower (prior $5M milestone), cost of product sales $3.6M (+$1.6M), total operating expenses $46.1M, adjusted operating expenses $42.9M (down 13% YoY), GAAP net loss $33M or $0.21/share (vs $38.6M or $0.36), adjusted net loss $19.7M (vs $24M), cash $231M (vs $261.3M at 12/31/25) providing an expected runway at least into 2028; a quiet/blackout period has been in effect since April 1.ADC Therapeutics Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
18
Very Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.17M | 81.36M | 70.84M | 69.56M | 209.91M | 33.92M |
| Gross Profit | 71.82M | 73.68M | 64.89M | 67.03M | 206.61M | 32.52M |
| EBITDA | -87.83M | -106.50M | -102.65M | -145.83M | -107.70M | -230.53M |
| Net Income | -136.99M | -142.62M | -157.85M | -240.05M | -157.13M | -230.03M |
Balance Sheet | ||||||
| Total Assets | 291.50M | 323.15M | 321.98M | 354.78M | 490.86M | 617.97M |
| Cash, Cash Equivalents and Short-Term Investments | 231.01M | 261.34M | 250.87M | 278.60M | 326.44M | 466.54M |
| Total Debt | 421.36M | 439.01M | 123.00M | 124.38M | 129.85M | 139.70M |
| Total Liabilities | 507.87M | 508.98M | 524.62M | 503.03M | 411.41M | 451.88M |
| Stockholders Equity | -216.38M | -185.83M | -202.64M | -148.25M | 79.45M | 166.09M |
Cash Flow | ||||||
| Free Cash Flow | -114.59M | -141.44M | -124.70M | -121.90M | -139.00M | -239.75M |
| Operating Cash Flow | -114.55M | -141.17M | -123.83M | -118.69M | -138.31M | -233.38M |
| Investing Cash Flow | 653.73K | 395.00K | -867.00K | -3.22M | -687.00K | -6.67M |
| Financing Cash Flow | 151.21M | 150.94M | 97.05M | 73.88M | -897.00K | 267.39M |
ADC Therapeutics Technical Analysis
Negative
4.28
Price Trends
3.58
Negative
3.79
Negative
3.81
Negative
Market Momentum
-0.42
Positive
11.39
Positive
3.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADCT, the sentiment is Negative. The current price of 4.28 is above the 20-day moving average (MA) of 3.13, above the 50-day MA of 3.58, and above the 200-day MA of 3.81, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 11.39 is Positive, neither overbought nor oversold. The STOCH value of 3.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADCT.
ADC Therapeutics Risk Analysis
ADC Therapeutics disclosed 61 risk factors in its most recent earnings report. ADC Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ADC Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $340.12M | -1.99 | -57.01% | ― | ― | -28.75% | |
48 Neutral | $291.44M | -3.42 | -107.19% | ― | ― | ― | |
47 Neutral | $131.01M | -1.16 | 65.27% | ― | 4.43% | 27.41% | |
47 Neutral | $836.16M | -7.55 | -51.34% | 14.68% | ― | 94.97% | |
46 Neutral | $900.55M | -5.72 | -45.95% | ― | ― | -3.83% | |
43 Neutral | $80.90M | -2.62 | -1115.29% | ― | 1.48% | -244.25% |
* Healthcare Sector Average
ADCT
ADC Therapeutics
1.03
-2.54
-71.15%
HRTX
Heron Therapeutics
0.43
-1.69
-79.86%
SLN
Silence Therapeutics
6.17
0.86
16.20%
AVIR
Atea Pharmaceuticals
4.25
1.04
32.40%
OLMA
Olema Pharmaceuticals
10.31
5.93
135.39%
JBIO
Jade Biosciences
16.94
9.23
119.71%
ADC Therapeutics Corporate Events
Business Operations and StrategyProduct-Related Announcements
ADC Therapeutics announces positive ZYNLONTA Phase 3 results
Positive
Jun 3, 2026
On June 3, 2026, ADC Therapeutics reported topline results from the Phase 3 LOTIS-5 confirmatory trial of ZYNLONTA combined with rituximab in relapsed or refractory diffuse large B-cell lymphoma, where the regimen significantly improved progressio...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresShareholder Meetings
ADC Therapeutics Shareholders Back Governance and Capital Changes
Positive
Jun 2, 2026
ADC Therapeutics SA held its 2026 annual general meeting of shareholders on June 1, 2026, at which investors approved the 2025 management report, annual and consolidated financial statements, and the carrying forward of the 2025 net loss. Sharehol...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.