LAUSANNE, Switzerland, Nov. 1, 2024
/PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT), a
commercial-stage global leader and pioneer in the field of antibody
drug conjugates (ADCs), today announced that the Company has made
grants of options to purchase an aggregate of 42,000 of the
Company's common shares to two new employees on November 1, 2024 (each, a "Grant").
The Grants were offered as material inducement to the employees'
employment. The grants were approved by the Compensation Committee
of the Company's Board of Directors pursuant to the Company's
Inducement Plan to motivate and reward the recipients to perform at
the highest levels and contribute significantly to the success of
the Company. The Grants were made in reliance on the employment
inducement exemption under the NYSE's Listed Company Manual Rule
303A.08.
The Company is issuing this press release pursuant to Rule
303A.08. The Grants shall vest and become exercisable 25% on the
first anniversary of the grant date, and 1/48th of the aggregate
number of shares subject to the award on each monthly anniversary
of the grant date thereafter, such that the entire award will be
vested as of the fourth anniversary of the grant date, subject to
continued employment with the Company.
About ADC Therapeutics
ADC Therapeutics (NYSE: ADCT) is a commercial-stage global
leader and pioneer in the field of antibody drug conjugates (ADCs).
The Company is advancing its proprietary ADC technology to
transform the treatment paradigm for patients with hematologic
malignancies and solid tumors.
ADC Therapeutics' CD19-directed ADC ZYNLONTA (loncastuximab
tesirine-lpyl) received accelerated approval by the FDA and
conditional approval from the European Commission for the treatment
of relapsed or refractory diffuse large B-cell lymphoma after two
or more lines of systemic therapy. ZYNLONTA is also in development
in combination with other agents and in earlier lines of therapy.
In addition to ZYNLONTA, ADC Therapeutics has multiple ADCs in
ongoing clinical and preclinical development.
ADC Therapeutics is based in Lausanne (Biopôle), Switzerland, and has operations in
London and New Jersey. For more information, please visit
https://adctherapeutics.com/ and follow the Company on
LinkedIn.
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 some cases you can identify
forward-looking statements by terminology such as "may", "will",
"should", "would", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "seem", "seek",
"future", "continue", or "appear" or the negative 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 that can cause actual
results to differ materially from those described. Factors that may
cause such differences include, but are not limited to: the
expected cash runway into mid-2026 the Company's ability to grow
ZYNLONTA® revenue in the United
States; the ability of our partners to commercialize
ZYNLONTA® in foreign markets, the timing and amount of future
revenue and payments to us from such partnerships and their ability
to obtain regulatory approval for ZYNLONTA® in foreign
jurisdictions; the timing and results of the Company's or its
partners' research and development projects or clinical trials
including LOTIS 5 and 7, ADCT 601 and
602 as well as early research in certain solid tumors with
different targets, linkers and payloads; the timing and results of
investigator-initiated trials including those studying FL and MZL
and the potential regulatory and/or compendia strategy and the
future opportunity; the timing and outcome of regulatory
submissions for the Company's products or product candidates;
actions by the FDA or foreign regulatory authorities; projected
revenue and expenses; the Company's indebtedness, including
Healthcare Royalty Management and Blue Owl and Oaktree facilities,
and the restrictions imposed on the Company's activities by such
indebtedness, the ability to comply with the terms of the various
agreements and repay such indebtedness and the significant cash
required to service such indebtedness; and the Company's ability to
obtain financial and other resources for its research, development,
clinical, and commercial activities. Additional information
concerning these and other factors that may cause actual results to
differ materially from those anticipated in the forward-looking
statements is contained in the "Risk Factors" section of the
Company's Annual Report on Form 10-K and in the Company's other
periodic and current reports and filings with the U.S. Securities
and Exchange Commission. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results, performance, achievements or prospects to be materially
different from any future results, performance, achievements or
prospects expressed in or implied by such forward-looking
statements. The Company cautions investors not to place undue
reliance on the forward-looking statements contained in this
document.
CONTACTS:
Investors
Marcy
Graham
ADC Therapeutics
Marcy.Graham@adctherapeutics.com
+1 650-667-6450
Media
Nicole Riley
ADC Therapeutics
Nicole.Riley@adctherapeutics.com
+1 862-926-9040
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SOURCE ADC Therapeutics SA