ADC Therapeutics SA
ADCT · Pharmaceutical Preparations · 127.2M shares · +11%/yr ↑ shares · EDGAR filings ↗
Reference price $3.28 · est. market cap ~$417M — last insider sale, 2026-04-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Commercial oncology biopharma (Zynlonta) with heavy cash burn and negative equity.
Strengths
- High gross margin — 93% (90th)
Risks
- Heavy cash burn — FCF -$141M
- Negative equity (ROE artifact) — per metrics
- Single-product/competition risk — per 10-K
Notable findings
- Net lossNet loss (net margin -175.3%)
- Cash burnNegative free cash flow (-141.4M)
- Chronic dilutionShare count +11%/yr over 2y (dilution)
- FDA approvalFDA approval — ZYNLONTA (2026-02-20)
- Insider sellingInsider selling — 6 open-market sale(s) by 1 insider(s) (~$20M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
92.9%
Operating margin
-149.3%
Net margin
-175.3%
Return on equity
76.7%
Return on assets
-44.1%
Revenue growth (QoQ)
-9.6%
Current ratio
4.4×
Free cash flow
-$141M
Tangible book value
-$186M
Cash & investments
$261M
Cash runway
7q
Stock comp / revenue
8.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Monges Viviane | Tax withheld | 2.6K | $3.08 |
| 2026-06-03 | Sandor Victor | Tax withheld | 13K | $3.08 |
| 2026-06-03 | Hug Peter | Tax withheld | 2.2K | $3.08 |
| 2026-06-03 | Azelby Robert | Tax withheld | 13K | $3.08 |
| 2026-06-03 | BIZZARI JEAN-PIERRE | Tax withheld | 13K | $3.08 |
| 2026-06-03 | Squarer Ron | Tax withheld | 15K | $3.08 |
| 2026-06-03 | Coughlin Timothy | Tax withheld | 13K | $3.08 |
| 2026-06-01 | BIZZARI JEAN-PIERRE | Grant | 45K | — |
| 2026-06-01 | Azelby Robert | Grant | 45K | — |
| 2026-06-01 | Squarer Ron | Grant | 45K | — |
| 2026-06-01 | Sandor Victor | Grant | 45K | — |
| 2026-06-01 | Monges Viviane | Grant | 45K | — |
| 2026-06-01 | Hug Peter | Grant | 45K | — |
| 2026-06-01 | Coughlin Timothy | Grant | 45K | — |
| 2026-04-02 | Redmile Group, LLC | Sell | 2.6M | $3.28 |
| 2026-04-02 | Redmile Group, LLC | Sell | 2.5M | $3.28 |
| 2026-04-01 | Redmile Group, LLC | Sell | 169K | $3.80 |
| 2026-04-01 | Redmile Group, LLC | Sell | 163K | $3.80 |
| 2026-03-31 | Redmile Group, LLC | Sell | 196K | $3.75 |
| 2026-03-31 | Redmile Group, LLC | Sell | 188K | $3.75 |
| 2026-02-13 | Kallebo Lisa Michelle | Tax withheld | 5.4K | $3.99 |
| 2026-02-13 | Kallebo Lisa Michelle | Grant | 63K | $3.99 |
| 2026-02-13 | Zaki Mohamed | Grant | 285K | $3.99 |
| 2026-02-13 | Zaki Mohamed | Tax withheld | 25K | $3.99 |
| 2026-02-13 | GRAHAM PETER J | Grant | 295K | $3.99 |
| 2026-02-13 | GRAHAM PETER J | Tax withheld | 33K | $3.99 |
| 2026-02-13 | Carmona Jose | Grant | 272K | $3.99 |
| 2026-02-13 | Carmona Jose | Tax withheld | 26K | $3.99 |
| 2026-02-13 | MALLIK AMEET | Grant | 900K | $3.99 |
| 2026-02-13 | MALLIK AMEET | Tax withheld | 103K | $3.99 |
| 2025-12-06 | MALLIK AMEET | Tax withheld | 233K | $3.29 |
| 2025-12-06 | Zaki Mohamed | Tax withheld | 41K | $3.29 |
| 2025-12-06 | Kallebo Lisa Michelle | Tax withheld | 7.1K | $3.29 |
| 2025-12-06 | GRAHAM PETER J | Tax withheld | 50K | $3.29 |
| 2025-12-06 | Carmona Jose | Tax withheld | 53K | $3.29 |
| 2025-06-13 | Squarer Ron | Tax withheld | 15K | $3.58 |
| 2025-06-13 | Sandor Victor | Tax withheld | 13K | $3.58 |
| 2025-06-13 | Monges Viviane | Tax withheld | 2.6K | $3.58 |
| 2025-06-13 | Hug Peter | Tax withheld | 2.1K | $3.58 |
| 2025-06-13 | BIZZARI JEAN-PIERRE | Tax withheld | 13K | $3.58 |
| 2025-06-13 | Azelby Robert | Tax withheld | 13K | $3.58 |
| 2025-06-03 | COUGHLIN TIMOTHY | Grant | 40K | — |
| 2025-06-03 | Sandor Victor | Grant | 40K | — |
| 2025-06-03 | Azelby Robert | Grant | 40K | — |
| 2025-06-03 | BIZZARI JEAN-PIERRE | Grant | 40K | — |
| 2025-06-03 | Hug Peter | Grant | 40K | — |
| 2025-06-03 | Monges Viviane | Grant | 40K | — |
| 2025-06-03 | Squarer Ron | Grant | 40K | — |
| 2025-05-15 | WILD HANS PETER | Other | 9.8M | — |
| 2025-05-15 | Pfisterer Thomas | Other | 452K | — |
| 2025-05-06 | MALLIK AMEET | Tax withheld | 27K | $1.29 |
| 2025-02-13 | GRAHAM PETER J | Grant | 220K | $1.61 |
| 2025-02-13 | Zaki Mohamed | Grant | 230K | $1.61 |
| 2025-02-13 | Kallebo Lisa Michelle | Grant | 42K | $1.61 |
| 2025-02-13 | Carmona Jose | Grant | 240K | $1.61 |
| 2025-02-13 | MALLIK AMEET | Grant | 650K | $1.61 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-24 | Reg FDOtherExhibits | filing ↗ |
| 2026-06-03 | Reg FDOtherExhibits | filing ↗ |
| 2026-06-02 | Shareholder voteExhibits | filing ↗ |
| 2026-05-04 | ResultsExhibits | filing ↗ |
| 2026-03-10 | ResultsExhibits | filing ↗ |
| 2026-02-23 | Material agreement3.02Exhibits | filing ↗ |
| 2026-01-12 | Reg FDExhibits | filing ↗ |
| 2026-01-08 | ResultsReg FD | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-24 | 0000950103-26-009416 ↗ |
| 8-K | 2026-06-03 | 2026-06-03 | 0000950103-26-008465 ↗ |
| 8-K | 2026-06-02 | 2026-06-01 | 0000950103-26-008321 ↗ |
| 10-Q | 2026-05-04 | 2026-03-31 | 0001628280-26-029819 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001628280-26-029524 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001628280-26-016238 ↗ |
| 10-K | 2026-03-10 | 2025-12-31 | 0001628280-26-016491 ↗ |
| 8-K | 2026-02-23 | 2026-02-18 | 0000950103-26-002466 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0000950103-26-000349 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001628280-26-001386 ↗ |
| 8-K | 2025-12-05 | 2025-12-03 | 0000950103-25-015818 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001628280-25-051095 ↗ |