The company intends to preserve its existing commercial and medical affairs infrastructure, aiming to stabilize operations ahead of a crucial pre-supplemental Biologics License Application meeting with the Food and Drug Administration scheduled for August. Executives plan to follow this with a formal supplemental filing in the fourth quarter, hoping to bolster the market position of loncastuximab tesirine-lpyl.
In section Market Quotes
ADC Therapeutics Trims Workforce to Prioritize Zynlonta
Facing a pivot toward its core oncology pipeline, ADC Therapeutics is laying off 17% of its staff. The reorganization follows the conclusion of two clinical trials this year, shifting the company’s internal focus entirely toward the regulatory and manufacturing momentum of its lead cancer treatment, Zynlonta.
Management anticipates these structural changes will generate annual savings of $10 million. To achieve this, the firm will incur a one-time, $3 million pretax charge covering severance and related transition expenses. Despite the disruption, internal projections suggest the company maintains sufficient cash reserves to fund operations through at least 2028.
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