ADC Therapeutics Announces Pricing of Underwritten Offering by a Selling Shareholder
Summary
LAUSANNE, Switzerland--(BUSINESS WIRE)-- ADC Therapeutics SA (ADCT or the Company) (NYSE: ADCT), a commercial-stage biotechnology company helping to improve the lives of those affected by cancer with its next-generation, targeted antibody drug conjugates, today announced the pricing of an underwritten offering of 12,000,000 common shares of the Company currently owned by A.T. Holdings II S\xe0rl (the Selling Shareholder), an affiliate of Auven Therapeutics Holdings L.P., at a price of $5.00 per share (before underwriting discounts and commissions). Copies of the final prospectus supplement and accompanying prospectus relating to this offering, when available, may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com.This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of these securities under the securities laws of any such state or other jurisdiction.ADC Therapeutics (NYSE: ADCT) is a commercial-stage biotechnology company helping to improve the lives of those affected by cancer with its next-generation, targeted antibody drug conjugates (ADCs). The Company is advancing its proprietary PBD-based ADC technology to transform the treatment paradigm for patients with hematologic malignancies and solid tumors.ADC Therapeutics CD19-directed ADC ZYNLONTA (loncastuximab tesirine-lpyl) is approved by the FDA for the treatment of relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy. In addition to ZYNLONTA, ADC Therapeutics has multiple ADCs in ongoing clinical and preclinical development.ADC Therapeutics is based in Lausanne (Biop\xf4le), Switzerland and has operations in London, the San Francisco Bay Area and New Jersey.This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors that may cause such differences include, but are not limited to: the Companys ability to continue to commercialize ZYNLONTA\xae in the United States and future revenue from the same; Swedish Orphan Biovitrum AB (Sobi\xae) ability to successfully commercialize ZYNLONTA\xae in the European Economic Area and market acceptance, adequate reimbursement coverage, and future revenue from the same; our strategic partners, including Mitsubishi Tanabe Pharma Corporation and Overland Pharmaceuticals, ability to obtain regulatory approval for ZYNLONTA\xae in foreign jurisdictions, and the timing and amount of future revenue and payments to us from such partnerships; the Companys ability to market its products in compliance with applicable laws and regulations; the timing and results of the Companys or its partners research projects or clinical trials including LOTIS 2, 5 and 9, ADCT 901, 601 and 212, the timing and outcome of regulatory submissions and actions by the FDA or other regulatory agencies with respect to the Companys products or product candidates; projected revenue and expenses, the Companys indebtedness including Healthcare Royalty Management and BlueOwl and Oaktree facilities and the restrictions imposed on the Companys activities by such indebtedness, the ability to repay such indebtedness and the significant cash required to service such indebtedness; the Companys ability to obtain financial and other resources for its research, development, clinical, and commercial activities; whether the common shares will be sold by the Selling Shareholder or the offering will be consummated as described herein; the timing and size of the offering described herein and other statements regarding matters that are not historical facts, and involve predictions.