Healthcare · Biotechnology
Price
$1.02
Market Cap
$129.7M
Employees
263
Beta
1.77
Avg Volume
1,759,748
CEO
Ameet Mallik
Business Description
ADC Therapeutics S.A. operates as a commercial-stage biotechnology company, focused on developing antibody-drug conjugates (ADCs) for the treatment of hematological malignancies and solid tumors. Its flagship product, ZYNLONTA, is presently being evaluated in multiple clinical trials: a Phase II study for relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; a Phase III trial assessing its combination with rituximab for second-line, transplant-ineligible patients with relapsed or refractory DLBCL; and a Phase I trial for relapsed or refractory non-Hodgkin lymphoma (NHL). The company's pipeline also includes camidanlumab tesirine, another ADC, which has completed Phase I development for relapsed or refractory NHL. It is additionally progressing through Phase II for relapsed or refractory Hodgkin lymphoma and Phase Ib for selected advanced solid tumors. Furthermore, ADC Therapeutics is advancing ADCT-602, currently in Phase Ia for acute lymphoblastic leukemia, alongside ADCT-601 and ADCT-901, both of which are in Phase Ia for various solid tumors. Its preclinical portfolio features ADCT-701 and ADCT-901, both aimed at solid tumors. The company maintains strategic collaboration and license agreements with entities such as Genmab A/S, Bergenbio AS, Synaffix B.V., Mitsubishi Tanabe Pharma Corporation, Overland Pharmaceuticals, and MedImmune Limited. Founded in 2011, ADC Therapeutics S.A. has its headquarters located in Epalinges, Switzerland.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.91
Stock Price: $1.02
EPS (Diluted): -1.12
EPS (Diluted): -1.12
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-2.41
Stock Price: $1.02
Total Equity: -$185.83M
Shares: 127,067,540
Total Equity: -$185.83M
Shares: 127,067,540
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-7.01
Market Cap: $129.73M
Total Debt: $439.01M
Cash: $261.34M
EBITDA: -$89.27M
Total Debt: $439.01M
Cash: $261.34M
EBITDA: -$89.27M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$626.2M
Market Cap: $129.73M
Total Debt: $439.01M
Cash: $261.34M
Total Debt: $439.01M
Cash: $261.34M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
5.51
Stock Price: $1.02
Revenue: $81.36M
Shares: 127,067,540
Revenue: $81.36M
Shares: 127,067,540
EV/Sales (Total value vs revenue — works when P/E can't)
API7.70
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
90.6%
Gross Profit: $73.68M
Revenue: $81.36M
Revenue: $81.36M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-133.2%
Operating Income: -$108.38M
Revenue: $81.36M
Revenue: $81.36M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-175.3%
Net Income: -$142.62M
Revenue: $81.36M
Revenue: $81.36M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
76.7%
Net Income: -$142.62M
Total Equity: -$185.83M
Total Equity: -$185.83M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
1,326.6%
Operating Income: -$108.38M
Tax Rate: 0.1%
Equity: -$185.83M
Total Debt: $439.01M
Cash: $261.34M
Tax Rate: 0.1%
Equity: -$185.83M
Total Debt: $439.01M
Cash: $261.34M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
4.37
Current Assets: $306.34M
Current Liabilities: $70.16M
Current Liabilities: $70.16M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-2.36
Short-Term Debt: $3.00M
Long-Term Debt: $436.01M
Total Debt: $439.01M
Total Equity: -$185.83M
Long-Term Debt: $436.01M
Total Debt: $439.01M
Total Equity: -$185.83M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.64
Revenue: $81.36M
Shares: 127,067,540
Shares: 127,067,540
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-1.46
Total Equity: -$185.83M
Shares: 127,067,540
Shares: 127,067,540
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.11
Operating CF: -$141.17M
CapEx: -$264,000
Shares: 127,067,540
CapEx: -$264,000
Shares: 127,067,540
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.02
Stock Price: $1.02
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$142.62M
Net Income: -$142.62M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ADCT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:55am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $33.9M | $209.9M | $69.6M | $70.8M | $81.4M |
| Cost of Revenue | $1.4M | $3.3M | $2.5M | $5.9M | $7.7M |
| Gross Profit | $32.5M | $206.6M | $67.0M | $64.9M | $73.7M |
| Operating Expenses | $294.2M | $330.0M | $233.0M | $195.5M | $182.1M |
| Operating Income | -$261.7M | -$123.3M | -$166.0M | -$130.7M | -$108.4M |
| Net Income | -$230.0M | -$157.1M | -$240.1M | -$157.8M | -$142.6M |
| EBITDA | -$230.5M | -$107.7M | -$145.8M | -$102.6M | -$89.3M |
| EPS | $-3.00 | $-1.99 | $-2.94 | $-1.62 | $-1.12 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:55am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $466.5M | $326.4M | $278.6M | $250.9M | $261.3M |
| Total Current Assets | $525.2M | $435.0M | $336.3M | $307.4M | $306.3M |
| Total Assets | $618.0M | $490.9M | $354.8M | $322.0M | $323.2M |
| Current Liabilities | $73.9M | $81.9M | $67.7M | $80.5M | $70.2M |
| Long-Term Debt | $125.1M | $109.7M | $112.7M | $113.6M | $436.0M |
| Total Liabilities | $451.9M | $411.4M | $503.0M | $524.6M | $509.0M |
| Total Equity | $166.1M | $79.5M | -$148.2M | -$202.6M | -$185.8M |
| Retained Earnings | -$924.9M | -$1.1B | -$1.3B | -$1.5B | -$1.6B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:55am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$233.4M | -$138.3M | -$118.7M | -$123.8M | -$141.2M |
| Capital Expenditure | -$6.4M | $-687,000 | -$3.2M | $-867,000 | $-264,000 |
| Free Cash Flow | -$239.8M | -$139.0M | -$121.9M | -$124.7M | -$141.4M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $659,000 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$1.3M | $0 | $0 | $0 |
| Net Change in Cash | $27.3M | -$140.1M | -$47.8M | -$27.7M | $10.5M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 12:55am (8h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$115.1M $108.5M – $130.4M
|
$205.6M $194.8M – $222.2M
|
$303.8M $287.9M – $328.3M
|
$339.4M $321.6M – $366.8M
|
| EBITDA |
-$103.8M -$117.7M – -$98.0M
|
-$185.6M -$200.6M – -$175.8M
|
-$274.2M -$296.4M – -$259.8M
|
-$306.3M -$331.0M – -$290.3M
|
| Net Income |
-$83.2M -$94.0M – -$72.4M
|
-$7.7M -$198.0M – $156.0M
|
$42.5M $39.6M – $46.9M
|
$69.4M $64.7M – $76.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:55am (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +518.9% | -66.9% | +1.8% | +14.9% |
| Gross Profit Growth | +535.2% | -67.6% | -3.2% | +13.6% |
| Operating Income Growth | +52.9% | -34.6% | +21.3% | +17.0% |
| Net Income Growth | +31.7% | -52.8% | +34.2% | +9.6% |
| EBITDA Growth | +53.3% | -35.4% | +29.6% | +13.0% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ADCT — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30