The filing highlights the continued involvement of Redmile Group and its subsidiaries in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction. Follow institutional movements and access comprehensive analysis with InvestProwhich offers detailed information via its Pro Research report, available for more than 1,400 U.S. stocks. Follow institutional movements and access comprehensive analysis with InvestProwhich offers detailed information via its Pro Research report, available for more than 1,400 U.S. stocks.
The filing highlights the continued involvement of Redmile Group and its subsidiaries in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction. Follow institutional movements and access comprehensive analysis with InvestProwhich offers detailed information via its Pro Research report, available for more than 1,400 U.S. stocks.
The filing highlights the continued involvement of Redmile Group and its subsidiaries in ADC Therapeutics, reflecting their continued interest in the company's performance and strategic direction.
Separately, ADC Therapeutics, a Switzerland-based pharmaceutical company, has seen significant developments. The company's shareholders have approved amendments to the articles of association, resulting in an increase in the capital range. This decision was taken at an extraordinary general meeting, by a majority of votes. The amendments, which came into effect immediately, aim to increase the conditional share capital of the company for financing, acquisitions and other purposes.
In financials, ADC Therapeutics reported net revenue of $18 million in the third quarter of 2024, bringing the year-to-date total to $52.9 million. Despite this, the company reported a net loss of $44 million for the third quarter of 2024, although an improvement from the previous year's loss of $46.7 million.
Regarding clinical trials, ADC Therapeutics announced that recruitment for the Phase III LOTIS-5 study of ZYNLONTA is nearing completion, with data expected by the end of 2025. Interim data from the LOTIS-5 study 7 are expected in December 2024. However, the AXL601 solid tumor program was discontinued due to insufficient efficacy and tolerability. These are recent developments that investors should take note of.
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