^LAUSANNE, Switzerland, Jan. 05, 2024 (GLOBE NEWSWIRE) — ADC Therapeutics SA (NYSE:
ADCT) announced today that the Company will be acquired by the New York Stock Exchange on January 2, 2024
Stock Exchange (NYSE) has received notice that it has met the criteria for
a continued listing pursuant to Section 802.01C of the NYSE Listed
Company Manual complied again and therefore off the non-conforming list
issuers will be removed from the NYSE. The company previously had a statement
received from the NYSE that it meets the criteria for continued listing
not fulfilled because the average closing price of its common shares is above
was below USD 1.00 for a period of 30 consecutive trading days. There
the closing price of the common shares on December 29, 2023 and the average
Closing price of the common shares for the 30 trading day period ending on December 29th.
Ending December 2023, each was over $1.00, this has been resolved.
About ADC Therapeutics
ADC Therapeutics (NYSE: ADCT) is a global leader in commercial
Stage-active company and pioneer in the field of antibody drug development
Conjugates (AWK). The company is developing its proprietary AWK technology
further to develop the treatment paradigm for patients with hematological malignancies
and solid tumors.
ADC’s CD19-targeting ADC ZYNLONTA (loncastuximab-tesirine-lpyl).
Therapeutics received accelerated approval from the FDA and the
European Commission granted conditional approval for the treatment of the
relapsed or refractory diffuse large B-cell lymphoma after two
or more lines of systemic therapy. ZYNLONTA is also located in the
Development in combination with other active ingredients and in earlier
lines of therapy. In addition to ZYNLONTA, ADC Therapeutics has several AWKs in the
ongoing clinical and preclinical development.
ADC Therapeutics is based in Lausanne (Biopôle), Switzerland
through offices in London, the San Francisco Bay Area and New Jersey. For
For more information please visit https://adctherapeutics.com/
(https://www.adctherapeutics.com/) and follow the company on LinkedIn
(https://www.linkedin.com/company/adc-therapeutics/).
ZYNLONTA(®) is a registered trademark of ADC Therapeutics SA.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Safe-
Harbor provisions of the Private Securities Litigation Reform Act of 1995. In
In some cases, you can identify forward-looking statements by terms such as “may”,
“will”, “should”, “would”, “expect”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”,
“aim”, “future”, “continue” or “appear” or negation
of these terms or similar expressions, although not all
forward-looking statements contain these identifying words.
Forward-looking statements are subject to certain risks and uncertainties,
which could cause actual results to differ materially
differ as described. Among the factors causing such deviations
can include, among other things: the actual ZYNLONTA(®) sales for the 4th
Quarter 2023, the success of the updated corporate strategy
Company, including operational efficiency, capital use and
portfolio prioritization, the company’s ability to mitigate the decline
To achieve total cost of ownership for 2023 and 2024, the expected cash runway
by the 4th quarter of 2025, the effectiveness of the new commercial
Market launch strategy, competition from new technologies and the
the Company’s ability to increase ZYNLONTA(®) sales in the United States; the
Capability of the Swedish Orphan Biovitrum AB (Sobi(®)), ZYNLONTA(®) im
to successfully market the European Economic Area, as well as the
market acceptance, appropriate cost reimbursement and future revenue
this product; the approval of the submitted by Overland ADCT BioPharma
BLA for ZYNLONTA(®) in China by the NMPA and future revenues therefrom
Capability of our strategic partners, including Mitsubishi Tanabe
Pharma Corporation, the regulatory approval for ZYNLONTA(®) in foreign countries
jurisdictions, as well as the timing and amount of future ones
income and payments to us from such partnerships; any
Impact of data reported by the University of Miami for its IIT in FL;
the schedule and results of the Company’s clinical trials or
its partners, including LOTIS 5 and 7, ADCT 601 and 602 as well as the
The Company’s early-stage pipeline research projects; Measures of the
FDA or foreign regulatory authorities with respect to the products or
the Company’s product candidates; projected income and expenses; the
Company indebtedness, including Healthcare Royalty Management
and Oaktree and Blue Owl facilities, and the restrictions imposed on the
Business activities of the company are imposed by these debts
Ability to repay this debt and the significant cash available to do so
servicing of this debt is necessary; and the ability of
corporate, financial and other resources for its research,
maintain development, clinical and commercial activities. More
Information about these and other factors that may cause the
actual results may differ materially from those reflected in the forward-looking statements
Expected differences can be found in the “Risk Factors” section in the annual report
of the Company on Form 20-F and other periodic reports and
The company’s filings with the Securities and Exchange Commission. This
Statements involve known and unknown risks, uncertainties and others
There are factors that could cause actual results to vary,
achievements, successes or prospects may differ significantly from future results,
Performances, successes or prospects differ in such
expressed or implied by any forward-looking statements. The
Company cautions investors not to rely on the information contained in this document
rely on forward-looking statements. The company is not
undertakes to revise or revise these forward-looking statements
update to reflect events or circumstances after the date hereof
press release unless required by law.
CONTACTS:
investor
Eugenia Litz
ADC Therapeutics
[email protected] (mailto:[email protected])
+44 7879 627205
+1 908-723-2350
media
Nicole Riley
ADC Therapeutics
[email protected] (mailto:[email protected])
+1 862-926-9040
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