Short answer
ADC Therapeutics SA (ADCT) filed its Q3 2025 10-Q quarterly report on Nov 10, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $16M (down 12.6% year over year) with net income of −$41M.
Q3 2025 key financials · XBRL
- Revenue
- $16M
- −12.6% YoY · −12.9% QoQ
- Net income
- −$41M
- +6.8% YoY · +27.7% QoQ
- Operating margin
- -196.6%
- EPS (diluted)
- −$0.28
- +33.3% YoY · +44.0% QoQ
Source: XBRL data from the ADC Therapeutics SA (ADCT) Q3 2025 10-Q on SEC EDGAR. USD.
ADC Therapeutics SA Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $16.4M, down 11.0% YoY from $18.5M
- Product revenue $15.8M, down 12.6% YoY from $18.0M, reflecting lower sales volume
- Q3 net loss $41.0M vs $44.0M; operating loss $31.0M vs $35.6M
- R&D expense $26.8M, down 17.5% YoY, following discontinued programs and restructuring
- $93.1M net proceeds from June private placement; workforce reduced approximately 30%
- LOTIS-5 topline data expected first half 2026; headwinds include lower volume, inventory write-downs, and financing costs
Risk Factors
- New tariff risk triggered by U.S. trade-policy changes, raising costs for Europe-manufactured products imported into the U.S.
- Most material update: MFN drug-pricing executive order issued May 2025, potentially reducing ZYNLONTA’s U.S. list price
- Regulatory risk: MFN pricing could materially reduce U.S. product-sale revenue and market opportunity
- Operational risk: International manufacturing exposure leaves U.S. commercial supply vulnerable to tariff-related cost increases
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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