In a flurry of updates Monday, ADC Therapeutics revealed that it's selling $105 million in new shares while also touting results for antibody-drug conjugate Zynlonta from a small investigator-initiated study in marginal zone lymphoma (MZL).
First, the study results. In a release, ADC said that among 15 patients with relapsed or refractory MZL who were treated with Zynlonta, 13 achieved a complete response and one achieved a partial response. The result comes from a single-arm, open-label study testing six cycles of the drug over 18 weeks. Patients must have tried at least one prior line of systemic therapy to be eligible for enrollment, ADC explained in the release.
As of a March 30 data cutoff, 15 patients could be evaluated. With the initial findings in hand, the research team plans to expand "the number of sites to accelerate enrollment in this trial," lead investigator Izidore Lossos, M.D., said in a statement.
"Achievement of complete response to treatment represents the strongest predictor of positive outcomes in MZL so these initial results are encouraging,” Lossos said.
The trial is currently underway at the Sylvester Comprehensive Cancer Center at University of Miami and City of Hope.
ADC is tracking the study findings and plans to "potentially pursue a regulatory pathway and compendia in parallel as soon as sufficient data are available," Chief Medical Officer Mohamed Zaki, M.D., Ph.D., said in a statement.
Zynlonta is a CD19-targeted antibody-drug conjugate currently approved to treat adults with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy. The drug generated $17.8 million in the first quarter of 2024, a year-over-year decline of 6%, ADC said in an earnings release on Monday. The drug is struggling to gain momentum against more efficacious CD19 CAR-T therapies such as Gilead Sciences' Yescarta.
Meanwhile, ADC also revealed an agreement to sell $105 million worth of common shares and pre-funded warrants. The company's share price fell 9% after all of Monday's updates.