ADC Therapeutics (ADCT) H.C. Wainwright 26th Annual Global Investment Conference 2024 summary

Company overview and portfolio

• Focuses on antibody-drug conjugates (ADCs) for hematological malignancies and solid tumors, with Zynlonta as the core approved product.

• Zynlonta is approved for third-line plus DLBCL, with ongoing studies to expand into earlier lines and indolent lymphomas.

• Solid tumor pipeline includes ADCT-601 targeting AXL and several preclinical assets using a novel exatecan-based payload.

Zynlonta market opportunity and clinical development

• Peak sales in current indication estimated at $80–$100 million, with potential to exceed $500 million if expanded to earlier lines and other lymphomas.

• LOTIS-5 phase 3 trial in second-line DLBCL expected to complete enrollment by year-end, with data readout by end of next year.

• Safety run-in showed 80% overall response and 50% complete response rates, with no new safety signals.

• Approval for second-line indication could come as early as end of 2026.

Competitive landscape and positioning

• CAR T therapies have about 20% market share in second-line DLBCL, leaving significant opportunity for other agents.

• Zynlonta plus rituximab shows competitive efficacy, especially in community settings.

• Movement of competitors to frontline creates more space in second and third lines for Zynlonta.

• Only CD19-directed ADC in the space, with combinations targeting both CD19 and CD20.