ADC Therapeutics Shares Rise After Financial Restructuring Extends Cash Runway
MT newswire2026/10/08 16:3512:35 PM EDT, 10/08/2026 (MT Newswires) -- ADC Therapeutics (ADCT) shares rose 8.4% on Thursday after it announced a financial restructuring to bolster its balance sheet, extend cash runway into 2029, reduce leverage, and ramp strategic optionality to drive shareholder value. The company said it entered a private investment in public equity financing deal to offer 12.9 million common shares at $1.42 apiece and pre-funded warrants to buy 48.1 million shares at $1.32 per warrant for gross proceeds of $86.6 million. Proceeds will be used for continued funding of Zynlonta pipeline studies. The offering is expected to close on Oct. 22, according to a statement. The company said it expects Q3 Zynlonta revenue of $21 million and cash and cash equivalents of $189.2 million as of Sept. 30. Zynlonta was developed to treat relapsed or refractory large B-cell lymphoma. ADC amended a financing agreement with HealthCare Royalty to remove a $150 million change-of-control payment, according to the company. Price: 1.54, Change: +0.12, Percent Change: +8.45
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Canadian used car dealer UC Automotive (UCAU.RC.US) files for IPO in the US: aims to raise 29 million USD and list on Nasdaq
Canadian used car dealer UC Automotive has applied for a Nasdaq IPO, aiming to raise up to $29 million, with its main focus on the Greater Vancouver market. Kingswood is the sole underwriter.
Swiss Franc weakens as Fed hawkish outlook lifts USD/CHF
Crypto prices
More
