ADC Therapeutics SA reported its financial results for the second quarter and first half of 2025. The company achieved net product revenues of $18.1 million for the second quarter, slightly up from $17.0 million in the same period in 2024. For the first six months of 2025, net product revenues were $35.5 million, compared to $34.9 million for the same period in the previous year. The increase in product revenues was primarily due to higher sales prices and variability in sales volume. The adjusted net loss for the quarter ended June 30, 2025, was $28.7 million, compared to an adjusted net loss of $24.4 million for the same period in 2024. For the six months ended June 30, 2025, the adjusted net loss was $52.6 million, a decrease from $55.5 million in the first half of 2024. The increase in adjusted net loss for the three-month period was attributed to higher research and development (R&D) costs. R&D expenses rose to $30.1 million for the quarter and $59.0 million for the first half of 2025, up from $24.3 million and $50.0 million, respectively, in the same periods in 2024. The increase was driven by ongoing clinical trials and activities related to new drug candidates. The net loss for the quarter ended June 30, 2025, was $56.6 million, compared to a net loss of $36.5 million for the same period in 2024. For the six months ended June 30, 2025, the net loss was $95.2 million, up from $83.2 million in the first half of 2024. The increased net loss was primarily due to higher R&D expenses and restructuring costs associated with a strategic reprioritization and restructuring plan.