• ADC Therapeutics launched a financial restructuring built around an $86.6 million PIPE, extending expected cash runway into 2029.
• PIPE terms include 12,900,000 common shares at $1.42, pre-funded warrants for 48,100,000 shares at $1.32.
• HealthCare Royalty agreement amended to remove a $150 million change-of-control payment, conditional on PIPE completion by Oct. 31, 2026.
• Senior secured term loan to be refinanced to $50 million outstanding via a $70 million prepayment, conditional on PIPE closing.
• Amended loan removes minimum liquidity covenant, sets $65 million trailing four-quarter U.S. ZYNLONTA sales covenant from Dec. 31, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ADC Therapeutics SA published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-26-015465), on October 13, 2026, and is solely responsible for the information contained therein.