ADC Therapeutics posts earnings beat, revenue tops estimates
Swiss biotech firm ADC Therapeutics reported adjusted earnings per share of $0.11 above expectations and revenue that surpassed analyst forecasts for the quarter.
ADC Therapeutics said on Thursday its adjusted earnings per share beat market estimates by $0.11 for the latest quarter, while revenue exceeded projections.
The Swiss biotechnology company, which specializes in antibody-drug conjugates, provided preliminary financial results ahead of its full earnings release. Adjusted earnings per share came in at $0.06, $0.11 above the consensus estimate of analysts surveyed by Refinitiv. Revenue totaled $32.5 million, topping the $30.1 million forecast.
ADC Therapeutics did not disclose specific drivers behind the outperformance but noted continued progress in its commercial and clinical pipeline. The company’s lead product, Zynlonta, remains its primary revenue contributor in the U.S. market for relapsed or refractory large B-cell lymphomas.
The earnings update follows recent regulatory milestones, including the U.S. Food and Drug Administration’s acceptance of a supplemental Biologics License Application for Zynlonta in a new indication. ADC Therapeutics plans to provide full financial details, including a breakdown of revenue by segment and updated guidance, in its upcoming earnings report.
Shares of ADC Therapeutics were indicated higher in pre-market trading on Thursday, reflecting investor optimism following the preliminary results.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
More from Priya Anand →