ADC Therapeutics reported total revenues of $23.033 million for the first quarter ended March 31, 2025, an increase from $18.053 million in Q1 2024. This increase was primarily driven by $5.629 million in license revenues and royalties, which included a $5.0 million milestone payment from Health Canada's ZYNLONTA approval.
The company's net loss for Q1 2025 improved to $38.602 million, compared to a net loss of $46.606 million in Q1 2024, resulting in a net loss per share of $0.36. As of March 31, 2025, cash and cash equivalents were $194.701 million, with the cash runway expected to fund operations into the second half of 2026.
Operationally, the LOTIS-7 abstract was accepted for presentation at EHA2025 and ICML, showing ZYNLONTA plus glofitamab achieved an ORR of 95.5% and a CR of 90.9% in 22 evaluable patients. Enrollment of 40 patients was reached in the LOTIS-7 dose expansion arm, and the pivotal LOTIS-5 trial remains on track to reach its pre-specified PFS events by the end of 2025.
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