ADC Therapeutics Highlights Early Zynlonta Results in Marginal Zone Lymphoma, Raises $105M from Share Sale

ADC Therapeutics announced several key updates on Monday, including financial results for its drug Zynlonta and new study findings in marginal zone lymphoma (MZL). Zynlonta generated $17.8 million in the first quarter of 2024, marking a 7% increase from the fourth quarter of 2023 but a decline compared to the $19 million earned in the first quarter of the previous year. Despite this growth, Zynlonta faces stiff competition from more effective CD19 CAR-T therapies like Gilead Sciences' Yescarta.

In addition to financial figures, ADC Therapeutics shared promising results from a small investigator-initiated study of Zynlonta in MZL. The study involved 15 patients with relapsed or refractory MZL who had previously undergone at least one line of systemic therapy. Among these patients, 13 achieved a complete response, and one showed a partial response. These outcomes were achieved after six cycles of Zynlonta treatment over 18 weeks in a single-arm, open-label study.

Dr. Izidore Lossos, lead investigator of the study, expressed optimism, stating that achieving a complete response is the strongest predictor of positive outcomes in MZL. The research team plans to expand the number of study sites to accelerate patient enrollment. The trial is currently taking place at the Sylvester Comprehensive Cancer Center at the University of Miami and City of Hope.

Chief Medical Officer Dr. Mohamed Zaki indicated that ADC Therapeutics is closely monitoring the study's progress and may pursue a regulatory pathway and other approvals once sufficient data is available. This could potentially broaden the scope of Zynlonta's application, enhancing its market presence.

In another significant development, ADC Therapeutics disclosed its plan to raise $105 million through the sale of new shares and pre-funded warrants. This move aims to bolster the company's financial position, although the announcement led to a 9% drop in the company's share price.

These updates highlight ADC Therapeutics' efforts to advance Zynlonta's clinical and commercial prospects while navigating a competitive oncology market. The company's focus on expanding clinical trials and securing additional funding demonstrates its commitment to enhancing treatment options for patients with relapsed or refractory lymphomas.