ADC Therapeutics S.A. Q2 FY2025 earnings call

• ZYNLONTA net product revenues increased in Q2 2025 and the first half compared to prior year.
• LOTIS-7 data presented at EHA and ICML showed ZYNLONTA plus glofitamab had an overall response rate of 93.3% and complete response rate of 86.7% in DLBCL patients, well tolerated with manageable safety.
• LOTIS-5 is on track to reach prespecified PFS events by end 2025, with top line data expected post events.
• Company discontinued early development of other preclinical programs, shut down UK facility, reducing global workforce by ~30%.
• Completed $100 million private placement, cash runway extends to 2028.
• PSMA targeting ADC IND-enabling activities on track to complete by end 2025.

Net product revenues for ADC Therapeutics in the second quarter of 2025 were $18.1 million, and $35.5 million in the first half, both slightly higher than the same periods in the prior year. ZYNLONTA is the key product driving these revenues.

• LOTIS-5 expected to reach prespecified PFS events by end 2025, with top line data and sBLA submission in H1 2026, confirmatory approval in H1 2027.
• LOTIS-7 to share additional update in H2 2025, enroll 100 patients at 150-mcg/kg dose, engage with regulators.
• Indolent lymphomas data to be shared at medical conferences in 2025-2026.
• Cash runway extends to 2028.

• Forward-looking statements subject to risks and uncertainties, actual results may differ.
• Dependence on regulatory approvals and compendia inclusion for revenue growth.
• Competition in the DLBCL market affecting market share.

Q: What is the view on Roche's CRL for glofitamab in second-line DLBCL and its impact on ADC Therapeutics' LOTIS trials?

A: Unclear on details of Roche's CRL, but LOTIS-5 and LOTIS-7 are well positioned to address unmet needs in the DLBCL landscape.

Q: How durable are the impressive complete responses seen in LOTIS-5 and LOTIS-7?

A: CRs are good surrogates for durability; 25 out of 26 patients achieving CR in LOTIS-7 remained in CR, and durability metrics will be shared as data matures.

Q: Discuss FDA discussions regarding LOTIS-7.

A: ADC Therapeutics intends to engage with the FDA on potential regulatory paths for LOTIS-7, with data update expected later in 2025.

Q: Talk about sales force growth, collaboration with Roche, and impact of STARGLO CRL.

A: ADC Therapeutics has a commercial footprint covering 90% of DLBCL potential. There is no current commercial or medical collaboration with Roche on LOTIS-7. It's hard to speculate on the impact of STARGLO's CRL.