ADC Therapeutics SA reported preliminary, unaudited net product revenue of approximately $22 million for the fourth quarter of 2025 and $73 million for the full year 2025. This represents a slight increase from the $69.3 million in net product revenue recorded in full year 2024. The fourth quarter 2025 revenue also rose compared to $16.4 million in the same period of the previous year, primarily due to variability in customer ordering. The company noted that underlying demand for ZYNLONTA in its current indication remained broadly stable year-over-year. ADC Therapeutics ended 2025 with about $261 million in cash and cash equivalents, and expects this will support operations at least through 2028. The company anticipates an acceleration in net product revenue growth beginning in 2027, pending clinical and regulatory developments.
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