ADC Therapeutics (ADCT) 6-K 8 Nov 22 2022 Q3 Condensed Consolidated Interim Statement of Operations Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	6-K
Document Period End Date	Sep. 30, 2022
Entity File Number	001-39071
Entity Registrant Name	ADC Therapeutics SA
Entity Address, Address Line One	Biopôle
Entity Address, Address Line Two	Route de la Corniche 3B
Entity Address, Postal Zip Code	1066
Entity Address, City or Town	Epalinges
Entity Address, Country	CH
Entity Central Index Key	0001771910
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Condensed Consolidated Interim

Condensed Consolidated Interim Statement of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 76,321	$ 13,147	$ 140,110	$ 16,907
Cost of product sales	(1,295)	(502)	(4,090)	(623)
Research and development expenses	(41,676)	(36,805)	(139,165)	(115,510)
Selling and marketing expenses	(16,847)	(17,045)	(52,876)	(46,177)
General and administrative expenses	(19,617)	(16,587)	(56,868)	(53,536)
Total operating expense	(79,435)	(70,939)	(252,999)	(215,846)
Loss from operations	(3,114)	(57,792)	(112,889)	(198,939)
Other income (expense)
Financial income	273	16	18,597	46
Financial expense	(11,356)	(4,265)	(29,374)	(8,820)
Non-operating (expense) income	(37,122)	(9,363)	(10,805)	12,560
Total other (expense) income	(48,205)	(13,612)	(21,582)	3,786
Loss before taxes	(51,319)	(71,404)	(134,471)	(195,153)
Income tax benefit (expense)	711	(145)	2,828	(492)
Net loss	$ (50,608)	(71,549)	$ (131,643)	(195,645)
Net loss attributable to:
Owners of the parent		$ (71,549)		$ (195,645)
Net loss per share
Net loss per share, basic (in USD per share)	$ (0.65)	$ (0.93)	$ (1.70)	$ (2.55)
Net loss per share, diluted (in dollars per share)	$ (0.65)	$ (0.93)	$ (1.70)	$ (2.55)
Product revenues, net
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 21,321	$ 13,147	$ 55,110	$ 16,907
License revenue
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 55,000	$ 0	$ 85,000	$ 0

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statement of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Net loss	$ (50,608)	$ (71,549)	$ (131,643)	$ (195,645)
Other comprehensive (loss) income
Remeasurement of defined benefit pension liability	0	0	3,618	0
Total items that will not be reclassified to profit and loss	0	0	3,618	0
Items that may be reclassified to profit and loss
Currency translation differences	(484)	(140)	(1,025)	(84)
Total items that may be reclassified to profit and loss	(484)	(140)	(1,025)	(84)
Other comprehensive (loss) income for the period	(484)	(140)	2,593	(84)
Total comprehensive loss for the period	(51,092)	(71,689)	(129,050)	(195,729)
Total comprehensive loss attributable to:
Owners of the parent	$ (51,092)	$ (71,689)	$ (129,050)	$ (195,729)

Condensed Consolidated Interi_3

Condensed Consolidated Interim Balance Sheet - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 380,860	$ 466,544
Accounts receivable, net	23,251	30,218
Inventory	15,745	11,122
Other current assets	18,243	17,298
Total current assets	438,099	525,182
Non-current assets
Property, plant and equipment	3,169	4,066
Right-of-use assets	6,708	7,164
Intangible assets	14,598	13,582
Interest in joint venture	34,687	41,236
Deferred tax asset	33,599	26,049
Other long-term assets	899	693
Total non-current assets	93,660	92,790
Total assets	531,759	617,972
Current liabilities
Accounts payable	11,611	12,080
Other current liabilities	62,658	50,497
Lease liabilities, short-term	835	1,029
Current income tax payable	0	3,754
Senior secured term loans, short-term	12,469	0
Convertible loans, short-term	0	6,575
Total current liabilities	87,573	73,935
Non-current liabilities
Convertible loans, derivatives	0	37,947
Warrant obligations	4,293	0
Deferred royalty obligation, long-term	208,218	218,664
Deferred gain of joint venture	23,539	23,539
Lease liabilities, long-term	6,622	6,994
Defined benefit pension liabilities	0	3,652
Total non-current liabilities	339,403	377,949
Total liabilities	426,976	451,884
Equity attributable to owners of the parent
Share capital	6,699	6,445
Share premium	1,007,510	981,827
Treasury shares	(101)	(128)
Other reserves	148,045	102,646
Cumulative translation adjustments	(842)	183
Accumulated losses	(1,056,528)	(924,885)
Total equity attributable to owners of the parent	104,783	166,088
Total liabilities and equity	531,759	617,972
Senior Secured Term Loans
Non-current liabilities
Convertible loans, long-term	96,731	0
Convertible Loans
Non-current liabilities
Convertible loans, long-term	$ 0	$ 87,153

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statement of Changes in Equity - USD ($) $ in Thousands	Total	Share Capital	Share Premium	Other Reserves	Treasury Shares	Cumulative Translation Adjustments	Accumulated Losses
Equity, beginning balance at Dec. 31, 2020	$ 335,505	$ 6,314	$ 981,056	$ 42,753	$ (4)	$ 245	$ (694,859)
Loss for the period	(195,645)						(195,645)
Translation adjustment	(84)					(84)
Other comprehensive (loss) income for the period	(84)					(84)
Total comprehensive loss for the period	(195,729)					(84)	(195,645)
Issuance of shares to be held as treasury shares	0	131			(131)
Exercise of options	516		514		2
Share-based compensation expense	47,016			47,016
Total transactions with owners	47,532	131	514	47,016	(129)
Equity, ending balance at Sep. 30, 2021	187,308	6,445	981,570	89,769	(133)	161	(890,504)
Equity, beginning balance at Jun. 30, 2021	243,918	6,445	981,290	74,971	(134)	301	(818,955)
Loss for the period	(71,549)						(71,549)
Translation adjustment	(140)					(140)
Other comprehensive (loss) income for the period	(140)					(140)
Total comprehensive loss for the period	(71,689)					(140)	(71,549)
Exercise of options	281		280		1
Share-based compensation expense	14,798			14,798
Total transactions with owners	15,079		280	14,798	1
Equity, ending balance at Sep. 30, 2021	187,308	6,445	981,570	89,769	(133)	161	(890,504)
Equity, beginning balance at Dec. 31, 2021	166,088	6,445	981,827	102,646	(128)	183	(924,885)
Loss for the period	(131,643)						(131,643)
Remeasurement of defined benefit pension liability	3,618			3,618
Translation adjustment	(1,025)					(1,025)
Other comprehensive (loss) income for the period	2,593			3,618		(1,025)
Total comprehensive loss for the period	(129,050)			3,618		(1,025)	(131,643)
Issuance of shares to be held as treasury shares	0	254			(254)
Issuance of shares, Deerfield exchange agreement, net of transaction costs	19,834		19,640		194
Issuance of shares, share purchase agreement, net of transaction costs	6,130		6,070		60
Exercise of options and vestings of RSUs	0		27		(27)
Share-based compensation expense	41,781			41,781
Total transactions with owners	67,745	254	25,683	41,781	27
Equity, ending balance at Sep. 30, 2022	104,783	6,699	1,007,510	148,045	(101)	(842)	(1,056,528)
Equity, beginning balance at Jun. 30, 2022	115,346	6,445	981,818	133,480	(119)	(358)	(1,005,920)
Loss for the period	(50,608)						(50,608)
Translation adjustment	(484)					(484)
Other comprehensive (loss) income for the period	(484)			0		(484)
Total comprehensive loss for the period	(51,092)			0		(484)	(50,608)
Issuance of shares to be held as treasury shares	0	254			(254)
Issuance of shares, Deerfield exchange agreement, net of transaction costs	19,834		19,640		194
Issuance of shares, share purchase agreement, net of transaction costs	6,130		6,070		60
Exercise of options and vestings of RSUs	0		(18)		18
Share-based compensation expense	14,565			14,565
Total transactions with owners	40,529	254	25,692	14,565	18
Equity, ending balance at Sep. 30, 2022	$ 104,783	$ 6,699	$ 1,007,510	$ 148,045	$ (101)	$ (842)	$ (1,056,528)

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash used in operating activities
Loss for the period	$ (131,643)	$ (195,645)
Adjustments for non-monetary items:
Share-based compensation expense	41,781	47,016
Impairments of Assets	2,704	0
Depreciation of property, plant and equipment	768	581
Amortization of intangible assets	88	96
Depreciation of right-of-use assets	896	1,194
Gain from reversal of inventory impairment charges	0	(7,049)
Share of results in joint venture	6,549	3,906
Deferred tax asset	(7,550)	0
Change in defined benefit pension liability	132	235
Convertible loans, derivatives, decrease in fair value	(25,650)	(16,279)
Warrant obligations, decrease in fair value	(11,961)	0
Financial income	(18,597)	(46)
Financial expense	29,230	8,650
Loss on extinguishment	(42,114)	0
Exchange differences	(322)	(311)
Operating loss before working capital changes	(71,461)	(157,652)
Decrease (increase) in accounts receivable, net	6,936	(15,896)
Decrease (increase) in other current assets	(6,145)	(959)
Decrease (increase) in other current assets	489	(3,395)
(Decrease) increase in accounts payable	(411)	5,055
Increase in income taxes	4,722	492
Increase in other liabilities and other payables	4,681	4,495
Cash used in operating activities	(61,189)	(167,860)
Interest paid	(6,924)	(3,475)
Interest received	309	36
Interest expense on lease obligations	144	170
Interest paid under royalty financing transaction	(5,656)	0
Taxes paid	(11,381)	(618)
Net cash used in operating activities	(84,697)	(171,747)
Cash used in investing activities
Payment for purchase of property, plant and equipment	(473)	(3,010)
Payment for purchase of intangible assets	(1,708)	(2,833)
Payment for deposits	(210)	0
Net cash used in investing activities	(2,391)	(5,843)
Cash (used in) provided by financing activities
Proceeds from senior secured term loans, net of transaction costs	114,490	0
Proceeds from equity issuance, net of transaction costs	6,192	0
Convertible loans exchange	(118,070)	0
Proceeds from convertible loans, net of transaction costs	0	49,591
Proceeds from deferred royalty transaction, net of transaction costs	0	219,251
Proceeds from exercise of options	0	516
Principal portion of lease obligation payments	(757)	(746)
Net cash provided by financing activities	1,855	268,612
Net (decrease) increase in cash and cash equivalents	(85,233)	91,022
Exchange losses on cash and cash equivalents	(451)	(23)
Cash and cash equivalents at beginning of the period	466,544	439,195
Cash and cash equivalents at end of the period	380,860	530,194
Supplemental Non-Cash Investing Information
Issuance of shares, Deerfield exchange agreement	19,834	0
Follow-on transaction costs recorded in Accounts payable and Other current liabilities	2,171	0
Capital expenditures and intangible asset acquisitions recorded in Accounts payable	0	455
Deferred royalty obligation transaction costs recorded in Accounts payable	$ 0	$ 1,248

Corporate information

Corporate information	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Corporate information	Corporate information ADC Therapeutics SA (the “Company” or “ADCT”) was incorporated on June 6, 2011 under the laws of Switzerland. The registered office of the Company is located at Route de la Corniche 3B, 1066 Epalinges, Switzerland. The Company controls three wholly-owned subsidiaries: ADC Therapeutics America, Inc. (“ADCT America”), which was incorporated in Delaware, USA on December 10, 2014, ADC Therapeutics (UK) Ltd (“ADCT UK”), which was incorporated in England on December 12, 2014 and ADC Therapeutics (NL) B.V. which was incorporated in the Netherlands on February 25, 2022. The Company and its three subsidiaries form the ADCT Group (the “Group”). The Group is focused on the development and commercialization of antibody drug conjugates (“ADCs”), including research, development, human clinical trials, regulatory approval and commercialization. On April 23, 2021, the U.S. Food and Drug Administration (“FDA”) approved ZYNLONTA for the treatment of relapsed or refractory diffuse large B-cell lymphoma (“DLBCL”) and the Company commenced recognizing revenue upon the sale of ZYNLONTA during the second quarter of 2021. ADCs are drug constructs which combine monoclonal antibodies specific to particular types of cells with cytotoxic molecules or warheads which seek to kill any cancer cell to which the ADC attaches. ADCs have extensive potential therapeutic applications in cancer. These unaudited condensed consolidated interim financial statements were authorized for issue by the Board of Directors on November 8, 2022. Going concern basis ADCT is a commercial-stage company developing innovative therapeutics. The Group is exposed to all risks inherent in establishing and developing its business, including the substantial uncertainty that current projects will succeed. The Group’s success may also depend on its ability to: • establish and maintain a strong patent position and protection; • develop, gain regulatory approval and commercialize drug products; • enter into collaborations with partners in the pharmaceutical industry; • acquire and retain key personnel; and • acquire additional funding to support its operations. Since its incorporation, the Group has primarily funded its growth through capital increases and additional funds provided by research collaborations, license agreements, the issuance of the Company’s common shares, the issuance of convertible loans, the issuance of term loans and proceeds from a royalty purchase agreement. During the first quarter of 2022 and third quarter of 2022, the Company entered into exclusive license agreements with Mitsubishi Tanabe Pharma Corporation ("MTPC") and Swedish Orphan Biovitrum AB ("Sobi"), respectively, for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications in Japan and all territories outside the U.S., greater China, Singapore and Japan, respectively. During the third quarter of 2022, the Company drew down USD 120.0 million principal amount of senior secured term loans, entered into an exchange agreement with Deerfield Partners, L.P., and Deerfield Private Design Fund IV, L.P. (collectively, “Deerfield”) and sold shares to Owl Rock Opportunistic Master Fund II, L.P. and OR Opportunistic DL (C), L.P. (the "Purchasers") under a share purchase agreement. See note 14, "Senior secured term loan facility and warrants", note 15, "Convertible loans" and note 17, "Equity" for further information. The Group does not have recourse to bank loans. As a result, the Group is not exposed to liquidity risk through requests for early repayment of loans, other than, pursuant to the senior secured term loan facility, it must maintain a balance of at least USD 60 million in cash and cash equivalents plus any accounts payable that are greater than ninety days old at the end of each quarter. As of September 30, 2022, the Group’s cash and cash equivalents amounted to USD 380.9 million (December 31, 2021: USD 466.5 million). Management believes that the Group has sufficient resources to meet its financial obligations for at least the next 12 months from the date of issuance of these unaudited condensed consolidated interim financial statements and, as a result, is presenting these unaudited condensed consolidated interim financial statements of the Group on a going concern basis. COVID – 19 The Group continues to monitor the COVID-19 pandemic and its impact to operations. The Group is commercializing ZYNLONTA using hybrid launch plans. The Company continued to see an increase in face-to-face interactions with physicians in the third quarter, which it believes is a key pillar of its continued success in driving the adoption of ZYNLONTA through ongoing dialogs with the healthcare provider community on ZYNLONTA's differentiated product profile. The Group is in close contact with its principal investigators and clinical sites, which are located in jurisdictions affected by the COVID-19 pandemic and is assessing the impact of the COVID-19 pandemic on its clinical trials, expected timelines and costs on an ongoing basis. In response to the spread of COVID-19, the Group has also modified its business practices based on local guidelines. At this time, Group employees are meeting with investigators and site staff in person as allowed by institutions. The Group continues to closely monitor the potential effects of the COVID-19 pandemic on its clinical trials, commercialization efforts and supply chain, and will work closely with its clinical trial sites and principal investigators, contract research organizations, customers and distributors and contract manufacturing partners to mitigate such impact. As the COVID-19 pandemic continues to evolve, the Group believes the impact to its operations, operating results, cash flows, liquidity and financial condition will be primarily driven by the severity and duration, the impact on the U.S. and global economies, the timing, the availability, and acceptance and effectiveness of vaccines and treatments, particularly against emerging variants of the novel coronavirus, and the scope and effectiveness of national and local governmental responses to the pandemic. Those primary drivers are beyond the Group’s knowledge and control, and as a result, the ultimate impact of the COVID-19 pandemic on the Group's results of operations, cash flows and financial position for the remainder of 2022 and thereafter cannot be reasonably predicted. However, on the basis of the risk mitigation measures undertaken, the Group has concluded that there is no material uncertainty that may cast a significant doubt upon the Group’s ability to continue as a going concern. Senior secured term loan facility and warrants, convertible loan exchange and share purchase On August 15, 2022, the Company, ADCT UK and ADCT America entered into a loan agreement and guaranty (the “Loan Agreement”) with certain affiliates and/or funds managed by each of Oaktree Capital Management, L.P. and Owl Rock Capital Advisors LLC, as lenders, and Owl Rock Opportunistic Master Fund I, L.P., as administrative agent and collateral agent, pursuant to which the Company may borrow up to USD 175.0 million principal amount of secured term loans, including (i) an initial tranche of USD 120.0 million principal amount of term loans (the “First Tranche”) and (ii) up to two additional tranches (“Future Tranches”), each up to USD 27.5 million principal amount of term loans that the Company may draw upon before February 15, 2024, subject to satisfaction of certain customary conditions including compliance with the Company’s other material agreements for the incurrence of such debt. On August 15, 2022, the Company drew down USD 120.0 million principal amount of term loans under the Loan Agreement and issued to the lenders under the Loan Agreement warrants to purchase an aggregate of 527,295 common shares, which warrants have an exercise price of USD 8.30 per share. See note 14, “Senior secured term loan facility and warrants” for further information on this transaction. On August 15, 2022, pursuant to an exchange agreement with Deerfield, Deerfield exchanged USD 115.0 million aggregate principal amount of the Company’s senior secured convertible notes for warrants to purchase an aggregate of 4,412,840 common shares, an aggregate of 2,390,297 common shares and cash equal to USD 117.3 million. The warrants consist of warrants to purchase an aggregate of 2,631,578 common shares at an exercise price of USD 24.70 per share and warrants to purchase an aggregate of 1,781,262 common shares at an exercise price of USD 28.07 per share. As a result of the exchange agreement, the Company recognized a loss on extinguishment of USD 42.1 million, which primarily consists of the difference between the aggregate principal amount and carrying value of the convertible loans, exit fee, as well as the unpaid interest payments through the maturity date. See note 15, “Convertible loans,” note 16, “Deerfield warrants” and note 17 “Equity” for further information on this transaction. On August 15, 2022, the Company entered into a share purchase agreement with the Purchasers, pursuant to which, on September 6, 2022, the Company issued and sold to the Purchasers an aggregate of 733,568 common shares at USD 8.52 per share for USD 6.1 million in net cash proceeds. See note 17, “Equity” for further information on this transaction.

Basis of preparation

Basis of preparation	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Basis of preparation	Basis of preparation Statement of Compliance These unaudited condensed consolidated interim financial statements as of and for the three and nine months ended September 30, 2022 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”) and should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2021. Functional and reporting currency These unaudited condensed consolidated interim financial statements are presented in United States Dollars (“USD” or “$”), which is the Company’s functional currency and the Group’s reporting currency. A subsidiary of the Company, ADCT UK, has a functional currency of the British Pound (“GBP”). The following exchange rates have been used for the translation of the financial statements of ADCT UK: Nine Months Ended September 30, 2022 2021 USD / GBP Closing rate, GBP 1 1.11348 1.34593 Weighted average exchange rate, GBP 1 1.18746 1.39209 Basis of Consolidation The unaudited condensed consolidated interim financial statements incorporate the financial statements of the Company and entities controlled by the Company which are the same as those contained in the audited consolidated financial statements as of and for the year ended December 31, 2021. Use of estimates and judgements The preparation of the unaudited condensed consolidated interim financial statements in conformity with IAS 34 requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates are based on management’s knowledge of current events and actions that the Company may undertake in the future. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. As a result of increases in interest rates, the Company assessed the impact of utilizing a higher discount rate, 2.0%, in its most recent pension obligation actuarial valuation performed as of December 31, 2021. The use of a higher discount rate resulted in a decrease of KUSD 3.6 million to its Defined benefit pension liabilities with a corresponding offset to Other comprehensive loss which was recorded during the second quarter of 2022. The reduction in its Defined benefit pension liability was capped at the fair value of the Company’s pension plan assets. The Company expects to perform its annual actuarial valuation in conjunction with its fiscal year ending December 31, 2022. In preparing these unaudited condensed consolidated interim financial statements, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty included those that applied to the consolidated financial statements for the year ended December 31, 2021. There have been no material changes to the significant accounting policies other than those described in note 3, "Significant accounting policies". In addition, significant judgements were required in determining the fair value of the Company’s warrant obligations as set out in note 14 “Senior secured term loan facility and warrants” and note 16 ”Deerfield warrants,” including the selection of the valuation methodology to use, as well as determining the underlying valuation assumptions. Other income (expense) For periods prior to December 31, 2021, individual components of Non-operating (expense) income were reported separately within the statement of operations. Prior periods have been recast to conform to the current period presentation. See Note 8, “Non-operating (expense) income” for further information. Share Subscription Agreement During the three-months ended September 30, 2022, the Company issued 3,123,865 common shares to ADCT America pursuant to a share subscription agreement and immediately repurchased these shares as treasury shares at par value. As described above, the Company subsequently issued 733,568 treasury shares to the Purchasers, in accordance with the share purchase agreement and 2,390,297 treasury shares to Deerfield in accordance with the exchange agreement entered into on August 15, 2022. See note 17, “Equity” for further information.

Significant accounting policies

Significant accounting policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies, Changes in Accounting Estimates And Errors [Abstract]
Significant accounting policies	Significant accounting policies The accounting policies applied by the Company in these unaudited condensed consolidated interim financial statements are the same as those applied by the Company in its audited consolidated financial statements as of and for the year ended December 31, 2021 and have been applied consistently to all periods presented in these unaudited condensed consolidated interim financial statements, except for the following: Revenue Recognition License Arrangements On January 18, 2022, the Company entered into an exclusive license agreement with MTPC for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications in Japan. Furthermore, on July 8, 2022, the Company entered into an exclusive license agreement with Sobi for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications outside of the U.S., greater China, Singapore and Japan. In previous years, the Company had generated revenue from the sale of its product candidates and service revenues from a license and collaboration arrangement. See note 5 “License Revenue” for further information on the MTPC and Sobi arrangement. The Company recognizes revenues from license fees for intellectual property (IP) either at a point in time or over time. The Company must make an assessment as to whether such a license represents a right-to-use the IP (at a point in time) or a right to access the IP (over time). The Company recognizes revenue for a right-to-use license immediately if the licensee can begin to use and benefit from the IP upon commencement of the license term and the Company has no further obligations in the context of the IP. A license is considered a right to access the IP when the Company undertakes activities during the license term that may significantly affect the IP, which directly exposes the customer to any positive or negative effects arising from such activities. These activities do not result in the immediate transfer of a good or service to the customer. As such, revenues from the right to access the IP are recognized over time. The Company may enter into agreements with multiple performance obligations. Performance obligations are identified and separated when the other party can benefit from the license on its own or together with other resources that are readily available, and the license is separately identifiable from other goods or services in the contract. Transaction prices for out-license arrangements may include fixed up-front amounts as well as variable consideration such as contingent development and regulatory milestones, sales-based milestones and royalties. The most likely amount method is used to estimate contingent development and regulatory milestones because the ultimate outcomes are binary in nature. Variable consideration is included in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. To the extent arrangements include multiple performance obligations that are separable, the transaction price assigned to each distinct performance obligation is reflective of the relative stand-alone selling price when sold separately or estimated stand-alone selling price on the basis of comparable transactions with other customers when such goods or services are not sold separately. The residual approach is the method used to estimate a stand-alone selling price when the selling price for a good or service is highly variable or uncertain. In determining the transaction prices, sales milestones and royalties attributable to licenses are excluded from the variable consideration guidance and recognized at the later of when the subsequent sales transaction occurs, or the satisfaction or partial satisfaction of the performance obligation to which some or all of the royalty has been allocated. Senior secured term loan facility The Company, ADCT UK and ADCT America entered into a USD 175.0 million Loan Agreement on August 15, 2022, pursuant to which the counterparty agreed to extend secured term loans to the Company in disbursements as follows: (i) a First Tranche and (ii) Future Tranches. See note 14, “Senior secured term loan facility and warrants.” Accounting for the First Tranche On August 15, 2022, the Company drew down the First Tranche of the senior secured term loans in the amount of USD 120.0 million and issued to the lenders under the Loan Agreement warrants to purchase an aggregate of 527,295 common shares, which warrants have an exercise price of USD 8.30 per share. These senior secured term loans have been recognized as a hybrid financial instrument and accounted for as two separate components: (i) a warrant obligation and (ii) a loan. i) The warrant obligation is presented in the unaudited condensed consolidated interim balance sheet as a liability given the warrants may be settled through a cash or cashless exercise by the warrant holder. The liability was initially measured at fair value using a Black-Scholes pricing model and is subsequently remeasured to fair value at each reporting date. Changes in the fair value (gains or losses) of the warrant obligation at the end of each period are recorded in the unaudited condensed consolidated interim statement of operations. ii) The senior secured term loan’s initial fair value is the residual amount of the consideration received, net of attributable costs, after separating out the fair value of the warrant obligation. The loan is subsequently measured at its amortized cost using an effective interest rate ("EIR") in accordance with IFRS 9. Given the interest rate in the senior secured term loans is variable and dependent upon market factors, the Company will update the EIR at the end of each reporting period for changes in the rate. The revised EIR will be used prospectively with no income or expense recorded in the period of interest rate change. The loan is presented as a financial liability in the unaudited condensed consolidated interim balance sheet. The net present value of those cash outflows occurring within 12 months of the balance sheet date discounted at the same rate is presented as a short-term liability in the unaudited condensed consolidated interim balance sheet. The remainder of the amount is presented as a long-term liability. Expenses and fees payable upon the issuance of the First Tranche of senior secured term loans were allocated pro rata to the above two components. The share of expenses allocated to the warrant obligation were charged directly to the unaudited condensed consolidated interim statement of operations, while the share of expenses allocated to the residual senior secured term loans was deducted from the loan and included in the calculation of the EIR. Accounting for the Future Tranches The Company has no obligation to draw down the Future Tranches of the senior secured term loans. Therefore, the Company will account for the Future Tranches when drawn upon as a liability and subsequently measure the liability at amortized cost in accordance with IFRS 9. Transaction costs associated with the Future Tranches will be deducted from the loan. Deerfield Warrants Pursuant to the exchange agreement with Deerfield entered into on August 15, 2022, the Company issued warrants to purchase an aggregate of 4,412,840 common shares. The agreement consists of warrants to purchase an aggregate of 2,631,578 common shares at an exercise price of USD 24.70 per share and warrants to purchase an aggregate of 1,781,262 common shares at an exercise price of USD 28.07 per share. These warrants have been recognized as a warrant obligation and presented in the unaudited condensed consolidated interim balance sheet as a liability given the warrants may be settled through a cash or cashless exercise by the warrant holder. The liability was initially measured at fair value and was determined to approximate the fair value of the existing embedded conversion option features immediately prior to the consummation of the Exchange Agreement. The liability is subsequently remeasured to fair value at each reporting date. Changes in the fair value (gains or losses) of the warrant obligation at the end of each period are recorded in the unaudited condensed consolidated interim statement of operations. See note 16, “Deerfield Warrants.” Employee Benefits - 2022 Employee Stock Purchase Plan In June 2022, the Company adopted the 2022 Employee Stock Purchase Plan (“2022 ESPP”), which was approved by shareholders at the Company’s 2022 Annual General Meeting. The Company will account for the 2022 ESPP similar to the Company’s other share plans. The 2022 ESPP allows eligible employees to purchase designated shares of the Company's common shares at a discount, over a series of offering periods through accumulated payroll deductions. The Company will offer the ESPP to employees twice a year with each having a six-month offering period. The first offering period will generally be from January 1st through June 30th and the second offering period will be from July 1st through December 31st. The grant date is the first day of each offering period. The fair value of purchase rights granted under the 2022 ESPP is recognized as an employee share-based compensation expense with a corresponding increase in other reserves. The total amount to be expensed is determined by reference to the fair value of the purchase rights granted. The total expense is recognized over the offering period, which is the period over which all of the specified vesting conditions are to be satisfied. Participants that voluntarily withdrawal from the plan are accounted for as a cancellation and total share-based compensation recorded in the period in which the participant withdrawals. Terminations are accounted for as forfeitures and any share-based compensation expense reversed in the period the participant terminates. Accumulated payroll deductions are recorded within Accrued expenses in other current liabilities in the unaudited condensed consolidated interim balance sheet until shares are purchased by the participant at the end of the offering period. See note 18, “Share-based compensation” for further information. New and amended IFRS standards There are no new IFRS standards, amendments to standards or interpretations that are mandatory for the financial year beginning on January 1, 2022, that are relevant to the Group and that have had any impact in the interim period. New standards, amendments to standards and interpretations that are not yet effective, which have been deemed by the Group as currently not relevant, are not listed here.

Financial risk management

Financial risk management	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Financial risk management	Financial risk management 4.1 Financial risk factors The Group’s activities are exposed to a variety of financial risks: market risk (including changes in the Company’s share price, exposure to fluctuation in currency exchange rates and exposure to interest rate movements), credit risk and liquidity risk. The unaudited condensed consolidated interim financial statements do not include all financial risk management information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s consolidated financial statements as of December 31, 2021. In relation to the royalty purchase agreement with entities managed by Healthcare Royalty Management, LLC ("HCR"), the Company is obligated to pay interest in the form of royalties in connection with certain net sales and licensing revenue. As the EIR on the deferred royalty obligation does not depend on market performance, the exposure to interest rate and market risk is deemed low. See note 19, “Deferred royalty obligation” for further information. In regards to the senior secured term loans, the interest rate is variable and dependent upon market factors. The Company will update the EIR at the end of each reporting period for changes in the rate. See note 14, "Senior secured term loan facility and warrants" for further information. A hypothetical 100 basis point increase (decrease) in the interest rate as of September 30, 2022 would have increased (decreased) the effective interest expense associated with the Company's senior secured term loan facility by KUSD 272 and (KUSD 273), respectively. There have been no other material changes in financial risk management since year-end. 4.2 Fair value estimation As of September 30, 2022, the carrying amount is a reasonable approximation of fair value for the following financial assets and liabilities: • Cash and cash equivalents • Trade accounts receivable • Trade accounts payable In the nine months ended September 30, 2022, there were no significant changes in the business or economic circumstances that affected the fair value of the Group’s financial assets and financial liabilities. Fair values must be estimated at the end of each quarter with regard to the senior secured term loan warrant obligation and the Deerfield warrants. The approach to valuation follows the grant date fair value principle, and the key input factors are described for the senior secured term loan facility warrant obligation in note 14, "Senior secured term loan facility and warrants" and for the Deerfield warrants in note 16, "Deerfield warrants". Commonly accepted pricing models (Black-Scholes) have been used to calculate the fair values. The valuation of the senior secured term loan facility warrant obligation and Deerfield warrants are classified as pertaining to Level 2 of the valuation hierarchy. The convertible loan derivatives previously were classified as pertaining to Level 3 of the valuation hierarchy and were extinguished on August 15, 2022. See note 15, "Convertible loans" for further information. The Company no longer has any inputs pertaining to level 3 of the valuation hierarchy set out below. The different levels of the valuation hierarchy have been defined as follows: (a) Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; (b) Level 2: inputs other than quoted prices that are observable for the asset or liability, either directly (for example, as prices) or indirectly (for example, derived from prices); (c) Level 3: inputs for the asset or liability that are not based on observable market data. There were no transfers between the respective levels during the period.

Product revenues, net

Product revenues, net	9 Months Ended
	Sep. 30, 2022
Revenue From Contracts With Customers [Abstract]
Product revenue, net	Revenue recognition Product revenue On April 23, 2021, the Company received FDA accelerated regulatory and marketing approval for ZYNLONTA and launched in the U.S. shortly thereafter. To date, the Company’s only source of product revenue, which commenced during May 2021, has been sales of ZYNLONTA in the U.S. Product revenues, net were KUSD 21,321 and KUSD 55,110 for the three and nine months ended September 30, 2022, respectively. Product revenues, net were KUSD 13,147 and KUSD 16,907 for the three and nine months ended September 30, 2021, respectively. The Company records its best estimate of gross-to-net ("GTN") sales adjustments to which customers are likely to be entitled. The table below provides a rollforward of the Company’s accruals related to the GTN sales adjustments for the three and nine months ended September 30, 2022 and September 30, 2021. Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Beginning balance 3,464 730 2,590 — GTN sales adjustments for current year sales 3,706 2,081 10,403 2,833 GTN sales adjustments for prior year sales (253) — (358) — Credits, payments and reclassifications to Accounts payable (3,624) (84) (9,342) (106) Ending balance as of September 30, 3,293 2,727 3,293 2,727 The table below provides the classification of the accruals related to the GTN sales adjustment included in the Company’s unaudited condensed consolidated interim balance sheet as of September 30, 2022 and December 31, 2021. (in KUSD) As of September 30, 2022 As of December 31, 2021 Accounts receivable, net 1,414 1,204 Other current liabilities 1,879 1,386 3,293 2,590 Accounts receivable As the Company’s inventory is no longer held on consignment by the Company’s third-party logistics and distribution provider and as a result of receiving a permanent J-code for ZYNLONTA, the Company’s payment terms currently range from 30 days to 90 days. License revenue On January 18, 2022, the Company entered into an exclusive license agreement with MTPC for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications in Japan. Under the terms of the agreement, the Company received an upfront payment of USD 30 million and may receive up to an additional USD 205 million in milestones if certain development and commercial events are achieved. The Company will also be entitled to receive royalties ranging in percentage from the high teens to the low twenties based on net sales of ZYNLONTA in Japan. MTPC will conduct clinical studies of ZYNLONTA in Japan and will have the right to participate in any global clinical studies by bearing a portion of the study costs. In addition, the Company will supply ZYNLONTA to MTPC for its drug development and commercialization under a supply agreement. On July 8, 2022, the Company entered into exclusive license agreement with Sobi for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications outside of the U.S., greater China, Singapore and Japan. Under the terms of the agreement, the Company received an upfront payment of USD 55 million and is eligible to receive up to USD 382.5 million in regulatory and net sales-based milestones, including USD 50 million upon approval of a Marketing Authorisation Application by the European Commission for ZYNLONTA in third-line DLBCL. The Company will also receive royalties ranging in percentage from the mid-teens to the mid-twenties based on net sales of the product in Sobi’s licensed territories, subject to certain adjustments. Sobi will also contribute 25 percent of clinical trial costs for select global ZYNLONTA trials, up to a cap of USD 10 million per year. In addition, the Company has agreed to supply product to Sobi for its drug development and commercialization under a supply agreement which will be entered into. The MTPC and Sobi license arrangements are accounted for separately. Each agreement includes a license and a performance obligation to supply product. The license and supply obligations are accounted for as separate performance obligations as they are considered distinct because MTPC and Sobi can benefit from the licenses on their own or together with other resources that are readily available, and the licenses are separately identifiable from other goods or services in the contract. The Company completed significant development work which resulted in FDA approval of ZYNLONTA in the U.S. for the treatment of relapsed or refractory DLBCL. As a result, the up-front license fees for both MTPC and Sobi are recognized immediately at the time of license execution, as MTPC and Sobi can use and benefit from the IP and the Company has no further performance obligation with respect to the IP upon commencement of the license terms.

Segment information

Segment information	9 Months Ended
	Sep. 30, 2022
Operating Segments [Abstract]
Segment information	Segment informationThe Company is managed and operated as one business. A single management team that reports to the chief executive officer comprehensively manages the entire business. Accordingly, the Company views its business and manages its operations as one operating segment.

Operating expense

Operating expense	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Operating expense	Operating expense The following table provides the unaudited condensed consolidated interim statement of operations classification of the Company's total operating expense: (in KUSD) Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Cost of product sales 1,295 502 4,090 623 R&D External costs (1) 24,363 20,041 83,706 66,330 Employee expense (2) 17,313 16,764 55,459 49,180 R&D expenses 41,676 36,805 139,165 115,510 S&M External costs (3) 8,236 7,973 26,406 18,989 Employee expense (2) 8,611 9,072 26,470 27,188 S&M expenses 16,847 17,045 52,876 46,177 G&A External costs (1) 5,020 4,599 18,539 15,204 Employee expense (2) 14,597 11,988 38,329 38,332 G&A expenses 19,617 16,587 56,868 53,536 Total operating expense 79,435 70,939 252,999 215,846 (1) Includes depreciation expense (2) Includes share-based compensation expense (3) Includes depreciation expense for Property, plant and equipment for the three and nine months ended September 30, 2022. All other depreciation expense was not material for the three and nine months ended September 30, 2022. All depreciation expense was not material for the three and nine months ended September 30, 2021. The increase in Cost of product sales in the three and nine months ended September 30, 2022, was primarily associated with USD 0.8 million and USD 2.5 million of impairment charges, respectively. The USD 0.8 million of impairment charges was recorded during both the three months and nine months ended September 30, 2022 and was associated with inventory manufactured using the Company's existing process at a new facility that did not meet the Company's specifications. Additionally, impairment charges of USD 1.7 million was recorded during the nine months ended September 30, 2022 and related to the manufacturing of antibodies that did not meet the Company's specifications. In addition, Cost of product sales during the nine months ended September 30, 2022 increased due to a full nine months of sales activity in 2022 as compared to the same period in 2021 due to the commencement of ZYNLONTA sales in May 2021. As a result of FDA approval of ZYNLONTA in April 2021, the Company reversed KUSD 7,049 of previously recorded impairment charges during the nine months ended September 30, 2021, relating to inventory costs incurred for the manufacture of product prior to FDA approval. R&D external costs increased primarily as a result of higher chemistry, manufacturing and controls ("CMC") expense due to manufacturing activities to support the ADCT-212 program during the three and nine months ended September 30, 2022 as well as our continued clinical trials to expand the potential market opportunities for ZYNLONTA in earlier lines of therapy, advance Cami to support a BLA submission and build our pipeline. Employee expense increased for the nine months ended September 30, 2022 primarily due to higher contract labor expenses, wages and benefits and share-based compensation expense. The decrease in S&M expenses in the three months ended September 30, 2022 was primarily due to lower employee expense due to lower share-based compensation expense. External costs increased for the three months ended September 30, 2022 primarily as a result of higher expenses relating to the commercial launch of ZYNLONTA. The increase in S&M expenses in the nine months ended September 30, 2022 was primarily due to increased professional expenses relating to the commercial launch of ZYNLONTA. This increase during the nine months ended September 30, 2022 was partially offset by lower employee expenses primarily due to lower share-based compensation expense.

Cash and cash equivalents

Cash and cash equivalents	9 Months Ended
	Sep. 30, 2022
Cash and cash equivalents [abstract]
Cash and cash equivalents	Cash and cash equivalentsPursuant to the Loan Agreement entered into on August 15, 2022 (see note 14, “Senior secured term loan facility and warrants”), the Company is subject to a covenant that requires it to maintain a balance at the end of each quarter of at least USD 60 million in cash and cash equivalents that are included on the unaudited condensed consolidated interim balance sheet plus an amount equal to any accounts payable that remain unpaid more than ninety days after the date of the original invoice.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventory [Abstract]
Disclosure of inventories [text block]	Inventory Inventory as of September 30, 2022 and December 31, 2021 consisted of the following: (in KUSD) As of September 30, 2022 As of December 31, 2021 Work in process 15,407 10,562 Finished goods (1) 338 560 Total inventory 15,745 11,122 (1) Subsequent to December 31, 2021, the Company's inventory is no longer held on consignment by the third-party logistics and distribution provider. Finished goods includes KUSD 3 relating to ZYNLONTA held on consignment by the Company’s third-party logistics and distribution provider as of December 31, 2021.

Intangible assets

Intangible assets	9 Months Ended
	Sep. 30, 2022
Intangible Assets [Abstract]
Intangible assets	Intangible assets Licenses classified as definite-lived intangible assets are amortized over their useful lives, which are determined on the basis of the expected pattern of consumption of the expected future economic benefits embodied in the licenses and which therefore commence only once the necessary regulatory and marketing approval has been received for the product candidates to which they relate. The Company classifies its licenses relating to product candidates for which regulatory approval has not been received as indefinite-lived intangible assets and did not recognize amortization expense relating to these licenses. Internal development costs are classified as indefinite-lived intangible assets and are expected to be capitalized if they meet the criteria for recognition of an internally generated intangible asset, usually when marketing approval has been achieved from a regulatory authority in a major market. The Company began to capitalize internal development costs for ZYNLONTA as an internally generated intangible asset upon the FDA approval in the U.S. and if certain recognition criteria were met. During the nine months ended September 30, 2022, the Company capitalized the following license fees paid or accrued to third parties as intangible assets: Milestone Payments • An amount of KUSD 500 paid upon the dosing of a specific number of patients in the first in-human clinical study related to an antibody the Company acquired from a third party to be used in research, development, manufacturing and commercialization. The amount was capitalized as an indefinite-lived intangible asset; and • An amount of KUSD 195 paid upon the successful completion of in-vivo efficacy studies related to a license with a third party to use their specific binding proteins in the development, manufacturing and commercialization of products. The amount was capitalized as an indefinite-lived intangible asset. During the nine months ended September 30, 2021, the Company capitalized the following as intangible assets: Milestone Payments • An amount of KUSD 1,050 paid upon the successful completion of a pre-clinical toxicology study and IND submission related to an antibody the Company acquired from a third party to be used in research, development, manufacturing and commercialization. The amount was capitalized as an indefinite-lived intangible asset; and • An amount of KUSD 600 paid upon final regulatory approval of ZYNLONTA related to a license agreement with a third party to use their technology to research, develop, manufacture and commercialize products. The amount was capitalized as a definite-lived intangible asset and will be amortized over its estimated useful life of 14 years based on the expected patent life, which includes an extension period that the Company believes is highly probable of being granted. This estimated useful life does not include additional patent protection that may be granted under applications filed but not yet approved other than the extension period discussed above. License Payments • An amount of KUSD 400 relating to a license agreement with a third party to use their proprietary conjugation technology to research, develop, manufacture and commercialize products. The amount was capitalized as an indefinite-lived intangible asset. • An amount of KUSD 250 paid relating to a license agreement with a third party to acquire an antibody to be used in research, development, manufacturing and commercialization. The amount was capitalized as an indefinite-lived intangible asset. The table below provides a rollforward of the Company’s intangible assets as of September 30, 2022 and 2021. (in KUSD) Indefinite lived Definite lived Cost Licenses Internal development costs Licenses Software Total January 1, 2022 12,985 631 1,052 176 14,844 Additions 695 323 — 97 1,115 Exchange differences — — — (17) (17) September 30, 2022 13,680 954 1,052 256 15,942 Accumulated Amortization January 1, 2022 (1,069) — (50) (143) (1,262) Amortization charge — — (56) (32) (88) Exchange differences — — 6 6 September 30, 2022 (1,069) — (106) (169) (1,344) Net book amount as of September 30, 2022 12,611 954 946 87 14,598 Cost January 1, 2021 11,144 — — 168 11,312 Additions 1,700 926 600 14 3,240 Transfers (452) — 452 (6) (6) September 30, 2021 12,392 926 1,052 176 14,546 Accumulated Amortization January 1, 2021 (1,069) — — (64) (1,133) Amortization charge — — (31) (65) (96) September 30, 2021 (1,069) — (31) (130) (1,230) Net book amount as of September 30, 2021 11,323 926 1,021 46 13,316

Non-operating income

Non-operating income	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Non-operating income	Non-operating (expense) income Three months ended September 30, Nine months ended September 30, (in KUSD) Note 2022 2021 2022 2021 Convertible loans, derivatives, change in fair value (expense) income 15 (4,660) (6,943) 25,650 16,279 Convertible loans, derivatives, transaction costs — — — (148) Loss on debt extinguishment 15 (42,114) — (42,114) — Deerfield warrant obligation, change in fair value income 16 9,418 — 9,418 — Senior secured term loan facility, warrants, transaction costs 14 (245) — (245) — Senior secured term loan facility, warrants, change in fair value income 14 2,543 — 2,543 — Share of results with joint venture 12 (2,130) (2,210) (6,549) (3,906) Exchange differences (loss) gain (56) (7) 248 145 R&D tax credit (expense) 122 (203) 244 190 Non-operating income (expense) (37,122) (9,363) (10,805) 12,560 Convertible loans, derivatives, change in fair value (expense) income Changes in derivative fair values are explained in note 15, “Convertible loans”. Pursuant to the Facility Agreement with Deerfield, the Company drew down the Deerfield First Tranche of the convertible loans amounting to USD 65 million on May 19, 2020. Additionally, in connection with the FDA approval of ZYNLONTA, the Company drew down the Deerfield Second Tranche of convertible loans amounting to USD 50 million on May 17, 2021. Convertible loans, derivatives, transaction costs The transaction costs associated with the embedded derivatives associated with the draw-down of the second tranche of the convertible loans on April 23, 2021 were charged directly to the unaudited condensed consolidated interim statement of operations. Loss on debt extinguishment As a result of the exchange agreement, the Company recognized a loss on extinguishment, which primarily consists of the difference between the aggregate principal amount and carrying value of the convertible loans, exit fee, as well as the unpaid interest payments through the maturity date. See note 15, “Convertible loans.” for further information on this transaction. Deerfield warrant obligation, change in fair value income Pursuant to an exchange agreement with Deerfield entered into on August 15, 2022, the Company issued warrants to purchase an aggregate of 4,412,840 common shares. The Deerfield warrant obligation has been recorded at its initial fair value and is remeasured to fair value on a quarterly basis. Changes in fair value of the Deerfield warrant obligation are explained in note 16, "Deerfield warrants". Senior secured term loan facility, warrants, transaction costs The transaction costs associated with the warrants in connection with the August 15, 2022 Loan Agreement were charged directly to the unaudited condensed consolidated interim statement of operations. See note 14, "Senior secured term loan facility and warrants", for further information on this transaction. Senior secured term loan facility, warrants, change in fair value income The Company has accounted for the First Tranche of the senior secured term loan and warrants as one hybrid financial instrument, with the USD 120 million proceeds separated into two components: a warrant obligation and a loan. The warrant obligation has been recorded at its initial fair value and is remeasured to fair value on a quarterly basis. Changes in fair value of the warrant obligation are explained in note 14, "Senior secured term loan facility and warrants". Share of results with joint venture In connection with the formation of Overland ADCT BioPharma in December 2020, the Company recorded its proportionate share of Overland ADCT BioPharma’s net loss. See note 12, “Interest in joint venture”. Exchange differences (loss) gain Also included in non-operating (expense) income are favorable or unfavorable Exchange differences. The Company is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to British pounds, Euros and Swiss francs. Exchange differences represent gain or (loss) based on favorable or unfavorable changes in foreign currencies. R&D tax credit (expense) The Company recognizes as income (expense) amounts received and receivable by its subsidiary, ADCT UK, under the United Kingdom’s R&D Expenditure Credit scheme (“UK R&D Credit Scheme”). The grants represent 12% of eligible expenditure. The claims are payable through the tax system, as a refund of corporation tax or of other taxes, including income tax and social security payments deducted at source from qualifying (research) employees’ payroll and VAT. The relevant amounts have been therefore presented net in the balance sheet. As the credit is independent of ADCT UK’s taxable profit, is clearly designed to incentivize companies to invest in R&D activities and is itself taxable income, the Group has recognized the income as government grants within non-operating (expense) income and not as a credit to income tax expense.

Interest in joint venture

Interest in joint venture	9 Months Ended
	Sep. 30, 2022
Interests In Other Entities [Abstract]
Interest in joint venture	On December 14, 2020, the Company announced the formation of a new joint venture company, Overland ADCT BioPharma, with Overland Pharmaceuticals (“Overland”), a fully integrated biopharmaceutical company backed by Hillhouse Capital. Overland ADCT BioPharma will develop and commercialize one of the Company’s ADC products, ZYNLONTA, and three of the Company’s ADC product candidates, ADCT-601, ADCT-602 and ADCT-901, in greater China and Singapore. The table below provides a rollforward of the Company’s interest in Overland ADCT BioPharma as of September 30, 2022 and 2021, respectively. (in KUSD) Interest in joint venture January 1, 2022 41,236 Share of results in joint venture (6,549) September 30, 2022 34,687 January 1, 2021 47,908 Share of results in joint venture (3,906) September 30, 2021 44,002 As of September 30, 2022, the deferred gain of USD 23.5 million arising from the Company’s contribution for its equity investment in the joint venture remained unchanged from December 31, 2021. The Company’s carrying value of its investment in a joint venture increases or decreases in relation to the Company’s proportionate share of comprehensive income or loss of the joint venture. When the Company’s share of losses of a joint venture exceeds the Company’s interest in that joint venture less the carrying value of the deferred gain described above, the Company ceases to recognize its share of further losses. Additional losses are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the joint venture. The tables below provide summarized financial information for Overland ADCT BioPharma that is material to the Company. The following information reflects the amounts presented in the financial statements of Overland ADCT BioPharma and not the Company’s share of those amounts. (in KUSD) As of Summarized Balance Sheet September 30, 2022 December 31, 2021 Cash and cash equivalents 24,445 39,318 Prepaid and other current assets 516 15 Intangible assets 48,040 48,040 Total liabilities 3,711 2,828 Net assets 69,290 84,545 Summarized Statement of Comprehensive Loss Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Operating expenses 4,950 4,465 14,317 8,120 Net loss 4,346 4,511 13,009 7,972

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The table below provides a rollforward of the Company's right-of-use assets as of September 30, 2022 and 2021, respectively. (in KUSD) Right-of-Use Assets Properties (Offices) Vehicles Total Cost January 1, 2022 9,005 134 9,139 Additions 1,234 — 1,234 Exchange difference (911) — (911) September 30, 2022 9,328 134 9,462 Accumulated depreciation January 1, 2022 (1,925) (50) (1,975) Depreciation charge (871) (25) (896) Exchange difference 117 — 117 September 30, 2022 (2,679) (75) (2,754) Net book amount as of September 30, 2022 6,649 59 6,708 Cost January 1, 2021 5,324 78 5,402 Additions 5,662 56 5,718 Lease termination (864) — (864) Exchange difference (132) — (132) September 30, 2021 9,990 134 10,124 Accumulated depreciation January 1, 2021 (2,253) (20) (2,273) Depreciation charge (1,172) (22) (1,194) Lease termination 864 — 864 Exchange difference 19 — 19 September 30, 2021 (2,542) (42) (2,584) Net book amount as of September 30, 2021 7,448 92 7,540 During the third quarter of 2022, the Company extended the term of its existing lease related to its U.S. corporate offices in New Jersey for an additional two years commencing on December 1, 2022, including an extension option for three additional years. The Company is reasonably certain it will exercise the extension option and therefore has accounted for the lease using a five-year lease term. During the first quarter of 2021, the Company entered into a new lease agreement with a ten-year term commencing in January 2021 for space in the iHub building on the Imperial University college campus in White City, West London. The primary function of the new facility, which consists of approximately 1,100 square meters, is R&D. Depreciation of right-of-use assets have been charged to the following categories in the unaudited condensed consolidated interim statement of operations. Depreciation expense for S&M expenses was not material for any of the periods presented. Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 R&D expenses 228 334 711 1,016 G&A expenses 62 61 185 178 290 395 896 1,194 The table below provides a rollforward of the Company's lease liabilities as of September 30, 2022 and 2021, respectively. (in KUSD) Lease liabilities Properties (Offices) Vehicles Total January 1, 2022 7,898 125 8,023 Additions 1,234 — 1,234 Cash outflow (including interest) (901) — (901) Interest 144 — 144 Exchange difference (978) (65) (1,043) September 30, 2022 7,397 60 7,457 January 1, 2021 3,402 65 3,467 Additions 5,662 56 5,718 Cash outflow (including interest) (892) (24) (916) Interest 168 2 170 Exchange difference (234) (10) (244) September 30, 2021 8,106 89 8,195 September 30, 2022 Lease liabilities (short-term) 801 34 835 Lease liabilities (long-term) 6,596 26 6,622 Total lease liabilities 7,397 60 7,457 September 30, 2021 Lease liabilities (short-term) 981 31 1,012 Lease liabilities (long-term) 7,125 58 7,183 Total lease liabilities 8,106 89 8,195

Senior secured term loan facili

Senior secured term loan facility and warrants	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Convertible loans	Senior secured term loan facility and warrants On August 15, 2022, the Company, ADCT UK and ADCT America entered into the Loan Agreement, pursuant to which the Company may borrow up to USD 175.0 million principal amount of secured term loans, including (i) a First Tranche and (ii) Future Tranches. On August 15, 2022, the Company drew down USD 120.0 million principal amount of term loans under the Loan Agreement. The secured term loans are scheduled to mature on August 15, 2029 and accrue interest at an annual rate of secured overnight financing rate (SOFR) plus 7.50% per annum (with respect to SOFR loans) or a base rate plus 6.50% per annum (with respect to alternative base rate ("ABR") loans) for the first five years of the term loans, and thereafter, at an annual rate of SOFR plus 9.25% (with respect to SOFR loans) or a base rate plus 8.25% (with respect to ABR loans), in each case subject to a 1.00% per annum SOFR floor. The Company has the option to elect for the loans to be either a SOFR loan or ABR loan. The Company has elected the First Tranche of the secured term loan to be a SOFR loan. Interest is paid on the last business day of each quarter. The Company is obligated to pay certain exit fees upon certain prepayments and repayments of the principal amount of the term loans in an amount ranging from zero to 4.0% of the amount of the loan so paid. In addition, The Company has the right to prepay the term loans at any time subject to certain prepayment premiums applicable until the August 15, 2026. The Loan Agreement also contains certain prepayment provisions, including mandatory prepayments from the proceeds from certain asset sales, casualty events and from issuances or incurrences of debt, which may also be subject to prepayment premiums if made on or prior to August 15, 2026. The obligations under the Loan Agreement are secured by substantially all of the Company's assets and those of certain of the Company's subsidiaries and are guaranteed initially by the Company's subsidiaries in the US and the UK. The Loan Agreement contains customary covenants, including a covenant to maintain a balance at the end of each quarter of at least USD 60.0 million in cash and cash equivalents that are included on the unaudited condensed consolidated interim balance sheet plus an amount equal to any accounts payable that remain unpaid more than ninety days after the original invoice therefore, and negative covenants including limitations on indebtedness, liens, fundamental changes, asset sales, investments, dividends and other restricted payments and other matters customarily restricted in such agreements. The Loan Agreement also contains customary events of default, after which the term loan may become due and payable immediately, including payment defaults, material inaccuracy of representations and warranties, covenant defaults (including creation of any liens other than those that are expressly permitted), bankruptcy and insolvency proceedings, cross-defaults to certain other agreements, judgments against the Company and its subsidiaries and change in control. On August 15, 2022, the Company also issued to the lenders under the Loan Agreement warrants to purchase an aggregate of 527,295 common shares, which warrants have an exercise price of USD 8.30 per share. Each warrant is exercisable, on a cash or a cashless basis, at the option of the holder at any time on or prior to August 15, 2032. The warrants contain customary anti-dilution adjustments and will entitle holders to receive any dividends or other distributions paid on the underlying common shares prior to their expiration on an as-exercised basis. Accounting for First Tranche of senior secured term loan The Company has accounted for the First Tranche of the senior secured term loans and the warrants described above as one hybrid financial instrument, with the USD 120.0 million draw down separated into two components : a warrant obligation and a loan. The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligation, using the Black-Scholes option-pricing model. The warrant obligation has been recorded at an initial fair value of USD 4.0 million on August 15, 2022 and is remeasured to fair value on a quarterly basis. Key inputs for the valuation of the warrant obligation as of August 15, 2022 were as follows: As of August 15, 2022 Exercise price in USD 8.30 Share price in USD 10.33 Risk-free interest rate 2.9 % Expected volatility 87 % Expected term (months) 60 months Dividend yield — Black-Scholes value in USD 7.51 The loan’s initial fair value was recorded at USD 116.0 million on August 15, 2022, representing the residual amount of the USD 120.0 million draw down, after separating out the initial fair value of USD 4.0 million of the warrant obligation. The loan is subsequently measured at its amortized cost. Transaction costs have been allocated to the above two components. Transaction costs associated to the warrant obligation have been charged directly to the unaudited condensed consolidated interim statement of operations, while transaction costs associated to the residual loan have been deducted from the loan. See further illustration in table below: in KUSD Warrant obligation Residual loan Total Loan Principal 3,957 116,043 120,000 Transaction costs (245) (7,187) (7,432) Carrying value of loan at issuance 108,856 Oak Tree and Owl Rock Warrant Obligations During the three and nine months ended September 30, 2022, the Company recognized income of KUSD 2,543 as a result of changes in the fair value of the warrant obligations from the issuance date of August 15, 2022. The fair value of the warrant obligations as of September 30, 2022 was KUSD 1,414. The decrease in fair value of the warrant obligation from August 15, 2022 to September 30, 2022 was primarily due to the decrease in the fair value of the underlying shares during that period, which was recorded directly to Non-operating (expense) income in the unaudited condensed consolidated interim statement of operations. See note 8, "Non-operating (expense) income" for further information. The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligations, using the Black-Scholes option-pricing model. Key inputs for the valuation of the warrant obligations as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 8.30 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 58.5 months Dividend yield — Black-Scholes value in USD 2.68 Senior Secured Term Loan As illustrated in the table above, the transaction costs of the residual loan (net of the fair value of warrant obligations) were deducted from the loan to determine the deemed net present value as of August 15, 2022 of all future cash outflows associated with the loan. The implied EIR that would be needed to increase the book value of the loan to cover all future expected outflows, taking into account the deduction of transaction costs from the initial loan balance, and based on a 360- day year for a SOFR loan, was computed at inception at 14.99%. Given the interest rate in the senior secured term loans is variable and dependent upon market factors, the Company will update the EIR at the end of each reporting period for changes in the rate. For the three and nine months ended September 30, 2022, the Company recorded interest expense on the senior secured term loan in the amount of KUSD 1,933 which was recorded in Financial expense in the unaudited condensed consolidated interim statement of operations. The amount at which the senior secured term loan is presented as a liability in the unaudited condensed consolidated interim balance sheet represents the net present value of all future cash outflows associated with the loan discounted at the EIR. The net present value of those cash outflows occurring within 12 months of the balance sheet date discounted at the same rate is presented as a short-term liability in the unaudited condensed consolidated interim balance sheet. The remainder of the amount is presented as a long-term liability in the unaudited condensed consolidated interim balance sheet. The carrying value of the senior secured term loan was USD 109.2 million as of September 30, 2022, of which USD 12.5 million and USD 96.7 million represented the short-term and long-term portion of the liability, respectively. On April 24, 2020, the Company entered into a USD 115 million Facility Agreement with Deerfield, pursuant to which Deerfield extended a tranche of USD 65 million of convertible loans on May 19, 2020 upon completion of the Company’s initial public offering (the “Deerfield First Tranche”) and a tranche of USD 50 million of convertible loans on May 17, 2021 after the receipt of regulatory approval for ZYNLONTA (the “Deerfield Second Tranche”). On August 15, 2022, pursuant to an exchange agreement with Deerfield, Deerfield exchanged USD 115.0 million aggregate principal amount of the Company's senior secured convertible notes for warrants to purchase an aggregate of 4,412,840 common shares, an aggregate of 2,390,297 common shares and cash equal to USD 117.3 million. As a result of the exchange agreement on August 15, 2022, the Company recognized a loss on extinguishment of USD 42.1 million, which primarily consists of the difference between the aggregate principal amount and carrying value of the convertible loans, exit fee, as well as the unpaid interest payments through the maturity date. Embedded conversion option derivatives Prior to the exchange, the Company accounted for the Facility agreement as a loan and embedded conversion option features. The embedded conversion option derivative was marked-to-market while the loan was measured at its amortized cost on a quarterly basis. The following table summarizes the changes in fair value income (expense) and profit or loss activity of the embedded conversion option derivatives during the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche (1) (2,822) (3,913) 15,556 16,867 Deerfield Second Tranche - prior to FDA approval (2) — — — 3,454 Deerfield Second Tranche - after FDA approval (1) (1,838) (3,030) 10,094 (4,042) Total (4,660) (6,943) 25,650 16,279 (1) The fair value expense recognized during the three and nine months ended September 30, 2022 represents the change in fair value up until the point of exchange on August 15, 2022. (2) In addition to the changes in fair value, the Company recorded a gain of KUSD 1,816 during the nine months ended September 30, 2021 with the receipt of the USD 50 million subsequent disbursement, the establishment of the embedded derivative and residual loan associated with the subsequent disbursement and elimination of the derivative immediately prior to FDA approval of ZYNLONTA. The increases (decreases) in fair values of the embedded derivatives are primarily due to increases (decreases) in the fair value of the underlying shares during the respective periods. These amounts were charged directly to the unaudited condensed consolidated interim statements of operations. See note 8, “Non-operating (expense) income” for further information. The fair value of the embedded derivative associated with the Deerfield First Tranche was KUSD 7,670 at the time of exchange on August 15, 2022 and KUSD 23,226 on December 31, 2021. The fair value of the embedded derivative associated with the Deerfield Second Tranche was KUSD 4,627 at the time of exchange on August 15, 2022 and KUSD 14,721 as of December 31, 2021. The Company used an independent valuation firm to assist in calculating the fair value of the Deerfield First Tranche and Deerfield Second Tranche of the embedded conversion option derivatives, which is based on the mean of values derived from application of the Hull and Goldman Sachs convertible bond pricing models. Key inputs for the valuations as of August 15, 2022 and December 31, 2021 were as follows: Deerfield First Tranche As of August 15, 2022 December 31, 2021 Exercise price at 130% of the IPO price of 19.00, in USD 24.70 24.70 Forced conversion price, in USD 67.93 67.93 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Deerfield Second Tranche As of August 15, 2022 December 31, 2021 Exercise price in USD 28.07 28.07 Forced conversion price, in USD 77.19 77.19 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Residual convertible loan The following table summarizes the interest expense recorded on the convertible loan for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche 1,132 2,142 5,664 6,184 Deerfield Second Tranche 404 819 2,020 1,209 Total 1,536 2,961 7,684 7,393

Convertible loans

Convertible loans	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Convertible loans	Senior secured term loan facility and warrants On August 15, 2022, the Company, ADCT UK and ADCT America entered into the Loan Agreement, pursuant to which the Company may borrow up to USD 175.0 million principal amount of secured term loans, including (i) a First Tranche and (ii) Future Tranches. On August 15, 2022, the Company drew down USD 120.0 million principal amount of term loans under the Loan Agreement. The secured term loans are scheduled to mature on August 15, 2029 and accrue interest at an annual rate of secured overnight financing rate (SOFR) plus 7.50% per annum (with respect to SOFR loans) or a base rate plus 6.50% per annum (with respect to alternative base rate ("ABR") loans) for the first five years of the term loans, and thereafter, at an annual rate of SOFR plus 9.25% (with respect to SOFR loans) or a base rate plus 8.25% (with respect to ABR loans), in each case subject to a 1.00% per annum SOFR floor. The Company has the option to elect for the loans to be either a SOFR loan or ABR loan. The Company has elected the First Tranche of the secured term loan to be a SOFR loan. Interest is paid on the last business day of each quarter. The Company is obligated to pay certain exit fees upon certain prepayments and repayments of the principal amount of the term loans in an amount ranging from zero to 4.0% of the amount of the loan so paid. In addition, The Company has the right to prepay the term loans at any time subject to certain prepayment premiums applicable until the August 15, 2026. The Loan Agreement also contains certain prepayment provisions, including mandatory prepayments from the proceeds from certain asset sales, casualty events and from issuances or incurrences of debt, which may also be subject to prepayment premiums if made on or prior to August 15, 2026. The obligations under the Loan Agreement are secured by substantially all of the Company's assets and those of certain of the Company's subsidiaries and are guaranteed initially by the Company's subsidiaries in the US and the UK. The Loan Agreement contains customary covenants, including a covenant to maintain a balance at the end of each quarter of at least USD 60.0 million in cash and cash equivalents that are included on the unaudited condensed consolidated interim balance sheet plus an amount equal to any accounts payable that remain unpaid more than ninety days after the original invoice therefore, and negative covenants including limitations on indebtedness, liens, fundamental changes, asset sales, investments, dividends and other restricted payments and other matters customarily restricted in such agreements. The Loan Agreement also contains customary events of default, after which the term loan may become due and payable immediately, including payment defaults, material inaccuracy of representations and warranties, covenant defaults (including creation of any liens other than those that are expressly permitted), bankruptcy and insolvency proceedings, cross-defaults to certain other agreements, judgments against the Company and its subsidiaries and change in control. On August 15, 2022, the Company also issued to the lenders under the Loan Agreement warrants to purchase an aggregate of 527,295 common shares, which warrants have an exercise price of USD 8.30 per share. Each warrant is exercisable, on a cash or a cashless basis, at the option of the holder at any time on or prior to August 15, 2032. The warrants contain customary anti-dilution adjustments and will entitle holders to receive any dividends or other distributions paid on the underlying common shares prior to their expiration on an as-exercised basis. Accounting for First Tranche of senior secured term loan The Company has accounted for the First Tranche of the senior secured term loans and the warrants described above as one hybrid financial instrument, with the USD 120.0 million draw down separated into two components : a warrant obligation and a loan. The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligation, using the Black-Scholes option-pricing model. The warrant obligation has been recorded at an initial fair value of USD 4.0 million on August 15, 2022 and is remeasured to fair value on a quarterly basis. Key inputs for the valuation of the warrant obligation as of August 15, 2022 were as follows: As of August 15, 2022 Exercise price in USD 8.30 Share price in USD 10.33 Risk-free interest rate 2.9 % Expected volatility 87 % Expected term (months) 60 months Dividend yield — Black-Scholes value in USD 7.51 The loan’s initial fair value was recorded at USD 116.0 million on August 15, 2022, representing the residual amount of the USD 120.0 million draw down, after separating out the initial fair value of USD 4.0 million of the warrant obligation. The loan is subsequently measured at its amortized cost. Transaction costs have been allocated to the above two components. Transaction costs associated to the warrant obligation have been charged directly to the unaudited condensed consolidated interim statement of operations, while transaction costs associated to the residual loan have been deducted from the loan. See further illustration in table below: in KUSD Warrant obligation Residual loan Total Loan Principal 3,957 116,043 120,000 Transaction costs (245) (7,187) (7,432) Carrying value of loan at issuance 108,856 Oak Tree and Owl Rock Warrant Obligations During the three and nine months ended September 30, 2022, the Company recognized income of KUSD 2,543 as a result of changes in the fair value of the warrant obligations from the issuance date of August 15, 2022. The fair value of the warrant obligations as of September 30, 2022 was KUSD 1,414. The decrease in fair value of the warrant obligation from August 15, 2022 to September 30, 2022 was primarily due to the decrease in the fair value of the underlying shares during that period, which was recorded directly to Non-operating (expense) income in the unaudited condensed consolidated interim statement of operations. See note 8, "Non-operating (expense) income" for further information. The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligations, using the Black-Scholes option-pricing model. Key inputs for the valuation of the warrant obligations as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 8.30 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 58.5 months Dividend yield — Black-Scholes value in USD 2.68 Senior Secured Term Loan As illustrated in the table above, the transaction costs of the residual loan (net of the fair value of warrant obligations) were deducted from the loan to determine the deemed net present value as of August 15, 2022 of all future cash outflows associated with the loan. The implied EIR that would be needed to increase the book value of the loan to cover all future expected outflows, taking into account the deduction of transaction costs from the initial loan balance, and based on a 360- day year for a SOFR loan, was computed at inception at 14.99%. Given the interest rate in the senior secured term loans is variable and dependent upon market factors, the Company will update the EIR at the end of each reporting period for changes in the rate. For the three and nine months ended September 30, 2022, the Company recorded interest expense on the senior secured term loan in the amount of KUSD 1,933 which was recorded in Financial expense in the unaudited condensed consolidated interim statement of operations. The amount at which the senior secured term loan is presented as a liability in the unaudited condensed consolidated interim balance sheet represents the net present value of all future cash outflows associated with the loan discounted at the EIR. The net present value of those cash outflows occurring within 12 months of the balance sheet date discounted at the same rate is presented as a short-term liability in the unaudited condensed consolidated interim balance sheet. The remainder of the amount is presented as a long-term liability in the unaudited condensed consolidated interim balance sheet. The carrying value of the senior secured term loan was USD 109.2 million as of September 30, 2022, of which USD 12.5 million and USD 96.7 million represented the short-term and long-term portion of the liability, respectively. On April 24, 2020, the Company entered into a USD 115 million Facility Agreement with Deerfield, pursuant to which Deerfield extended a tranche of USD 65 million of convertible loans on May 19, 2020 upon completion of the Company’s initial public offering (the “Deerfield First Tranche”) and a tranche of USD 50 million of convertible loans on May 17, 2021 after the receipt of regulatory approval for ZYNLONTA (the “Deerfield Second Tranche”). On August 15, 2022, pursuant to an exchange agreement with Deerfield, Deerfield exchanged USD 115.0 million aggregate principal amount of the Company's senior secured convertible notes for warrants to purchase an aggregate of 4,412,840 common shares, an aggregate of 2,390,297 common shares and cash equal to USD 117.3 million. As a result of the exchange agreement on August 15, 2022, the Company recognized a loss on extinguishment of USD 42.1 million, which primarily consists of the difference between the aggregate principal amount and carrying value of the convertible loans, exit fee, as well as the unpaid interest payments through the maturity date. Embedded conversion option derivatives Prior to the exchange, the Company accounted for the Facility agreement as a loan and embedded conversion option features. The embedded conversion option derivative was marked-to-market while the loan was measured at its amortized cost on a quarterly basis. The following table summarizes the changes in fair value income (expense) and profit or loss activity of the embedded conversion option derivatives during the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche (1) (2,822) (3,913) 15,556 16,867 Deerfield Second Tranche - prior to FDA approval (2) — — — 3,454 Deerfield Second Tranche - after FDA approval (1) (1,838) (3,030) 10,094 (4,042) Total (4,660) (6,943) 25,650 16,279 (1) The fair value expense recognized during the three and nine months ended September 30, 2022 represents the change in fair value up until the point of exchange on August 15, 2022. (2) In addition to the changes in fair value, the Company recorded a gain of KUSD 1,816 during the nine months ended September 30, 2021 with the receipt of the USD 50 million subsequent disbursement, the establishment of the embedded derivative and residual loan associated with the subsequent disbursement and elimination of the derivative immediately prior to FDA approval of ZYNLONTA. The increases (decreases) in fair values of the embedded derivatives are primarily due to increases (decreases) in the fair value of the underlying shares during the respective periods. These amounts were charged directly to the unaudited condensed consolidated interim statements of operations. See note 8, “Non-operating (expense) income” for further information. The fair value of the embedded derivative associated with the Deerfield First Tranche was KUSD 7,670 at the time of exchange on August 15, 2022 and KUSD 23,226 on December 31, 2021. The fair value of the embedded derivative associated with the Deerfield Second Tranche was KUSD 4,627 at the time of exchange on August 15, 2022 and KUSD 14,721 as of December 31, 2021. The Company used an independent valuation firm to assist in calculating the fair value of the Deerfield First Tranche and Deerfield Second Tranche of the embedded conversion option derivatives, which is based on the mean of values derived from application of the Hull and Goldman Sachs convertible bond pricing models. Key inputs for the valuations as of August 15, 2022 and December 31, 2021 were as follows: Deerfield First Tranche As of August 15, 2022 December 31, 2021 Exercise price at 130% of the IPO price of 19.00, in USD 24.70 24.70 Forced conversion price, in USD 67.93 67.93 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Deerfield Second Tranche As of August 15, 2022 December 31, 2021 Exercise price in USD 28.07 28.07 Forced conversion price, in USD 77.19 77.19 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Residual convertible loan The following table summarizes the interest expense recorded on the convertible loan for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche 1,132 2,142 5,664 6,184 Deerfield Second Tranche 404 819 2,020 1,209 Total 1,536 2,961 7,684 7,393

Deerfield Warrants

Deerfield Warrants	9 Months Ended
	Sep. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Deerfield Warrants	Deerfield warrants Pursuant to the exchange agreement with Deerfield entered into on August 15, 2022, the Company issued warrants to purchase an aggregate of 4,412,840 common shares. The warrants consist of warrants to purchase an aggregate of 2,631,578 common shares at an exercise price of USD 24.70 per share and warrants to purchase an aggregate of 1,781,262 common shares at an exercise price of USD 28.07 per share. Each warrant is exercisable, on a cash or a cashless basis, at the option of the holder, at any time on or prior to May 19, 2025. The warrants contain customary anti-dilution adjustments and entitle holders to receive any dividends or other distributions paid on the underlying common shares prior to their expiration on an as-exercised basis. Each holder also may require the Company to repurchase the warrants for their Black Scholes-based fair value in connection with certain transformative transactions or change of control of the Company that occur prior to their expiration. The terms of the warrants are reflective of the terms of the embedded conversion option features of the Deerfield Facility Agreement prior to the Exchange Agreement. As a result, the fair value of the warrants was determined to approximate the fair value of the existing embedded conversion option features immediately prior to the consummation of the Exchange Agreement. As such, the warrant obligation was recorded at an initial fair value of KUSD 12,297 on August 15, 2022. Subsequent to issuance, the warrant obligation will be remeasured to fair value on a quarterly basis. During the three and nine months ended September 30, 2022, the Company recognized income of KUSD 9,418 as a result of changes in the fair value of the warrant obligation. The fair value of the warrant obligation as of September 30, 2022 was KUSD 2,879. The decrease in fair value of the warrant obligation from August 15, 2022 to September 30, 2022 was primarily due to the decrease in the fair value of the underlying shares during that period. These amounts were recorded to Non-operating (expense) income in the unaudited condensed consolidated interim statement of operations. See note 8, "Non-operating (expense) income" for further information. The Company used an independent valuation firm to assist in calculating the fair value of the Deerfield warrant obligation, using the Black-Scholes option-pricing model. Key inputs for the valuation of the warrant obligation as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 24.70 and 28.07 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 31.7 months Dividend yield — Black-Scholes value in USD 0.69 and 0.60

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2022
Share-based Payment Arrangements [Abstract]
Share-based compensation	Share-based compensation Equity Incentive Plan 2019 In November 2019, the Company adopted the Equity Incentive Plan 2019. Under the Equity Incentive Plan 2019, the Company may at its discretion grant to plan participants, such as directors, certain employees and service providers, awards in the form of restricted shares and restricted share units (“RSUs”), share options, share appreciation rights, performance awards and other share-based awards. The Company has reserved 13,820,000 common shares for future issuance under the Equity Incentive Plan 2019 (including share-based equity awards granted to date less awards forfeited). As of September 30, 2022, the Company has 1,349,944 common shares available for the future issuance of share-based equity awards. On March 7, 2022, the Company issued its annual equity award, which was approved by the Compensation Committee of the Board of Directors and consisted of 1,867,076 share options and 570,340 RSUs. On May 11, 2022, the Company issued a special retention award to select employees, which was approved by the Compensation Committee of the Board of Directors and consisted of 1,298,700 RSU's. As of September 30, 2022, the Company has only granted share options, RSUs and performance awards under the Equity Incentive Plan 2019. As of September 30, 2022, the cumulative amount recorded as an increase to Other Reserves within equity in the unaudited condensed consolidated interim balance sheet of the Equity Incentive Plan 2019 was KUSD 137,759. An amount of KUSD 512 was withheld for tax charges during the three months ended March 31, 2022. There were no amounts withheld for tax charges during both the three months ended September 30, 2022 and June 30, 2022. The amount of expense for all awards recognized for services received during the three and nine months ended September 30, 2022 were KUSD 14,565 and KUSD 42,293, respectively, and for the three and nine months ended September 30, 2021 were KUSD 14,798 and KUSD 47,016, respectively. Share Options Pursuant to the Equity Incentive Plan 2019, the Company may grant share options to its directors, certain employees and service providers working for the benefit of the Company at the time. The exercise price per share option is set by the Company at the fair market value of the underlying common shares on the date of grant, as determined by the Company, which is generally the closing share price of the Company’s common shares traded on the NYSE. The awards generally vest 25% on the first anniversary of the date of grant, and thereafter evenly on a monthly basis over the subsequent three years. The contractual term of each share option award granted is ten years. Under the grant, the options may be settled only in common shares of the Company. Therefore, the grants of share options under the Equity Incentive Plan 2019 have been accounted for as equity-settled under IFRS 2. As such, the Company records a charge for the vested portion of award grants and for partially earned but non-vested portions of award grants. This results in a front-loaded charge to the Company’s unaudited condensed consolidated interim statement of operations and a corresponding increase to Other Reserves within equity on the unaudited condensed consolidated interim balance sheet. The expense recognized for services received during the three and nine months ended September 30, 2022 was KUSD 8,193 and KUSD 27,158, respectively. The expense recognized for services received during the three and nine months ended September 30, 2021 was KUSD 12,105 and KUSD 40,112, respectively. The following table summarizes the share option awards outstanding as of September 30, 2022: Average strike price per share in USD Number of awards Weighted average remaining life December 31, 2021 27.23 6,640,200 8.70 Granted 12.26 3,937,056 9.39 Forfeited 26.71 (820,031) N/A September 30, 2022 21.23 9,757,225 8.39 Awards outstanding as of September 30, 2022 and December 31, 2021, expire through 2032 and 2031, respectively. The options granted during 2022 include the Company’s annual equity award discussed above. The grant-date fair value of the options relating to the annual equity awards was USD 8.85 per share. As of September 30, 2022, 3,457,420 awards are vested and exercisable out of the total outstanding awards of 9,757,225 common shares. The weighted average strike price and weighted average remaining life for vested and exercisable awards is USD 25.67 and 7.44 years, respectively. The fair values of the options granted were determined on the date of the grant using the Black-Scholes option-pricing model. The Company used an independent valuation firm to assist in calculating the fair value of the award grants per participant. The fair values of the options granted during the three and nine months ended September 30, 2022 were determined on the date of the grant using the following assumptions: Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Share price, in USD 4.83 - 8.54 4.83 - 19.69 Strike price, in USD 4.83 - 8.54 4.83 - 19.69 Expected volatility 70% to 80% 70% to 80% Award life 6.08 6.08 Expected dividends — — Risk-free interest rate 2.61% - 3.77% 1.46% - 3.77% The expected volatility was based on the Company’s historical volatility and selected volatility determined by median values observed among other comparable public companies. The award life is based on the time interval between the date of grant and the date during the ten-year life after which, when making the grant, the Company expected on average that participants would exercise their options. RSUs Pursuant to the Equity Incentive Plan 2019, the Company may grant RSUs to its directors, certain employees and service providers working for the benefit of the Company at the time. The awards generally vest annually over a period of three years commencing on the first anniversary of the date of grant. The special retention awards discussed above vest 50% and the remainder at the six-month and one year anniversaries, respectively, of the grant date. The RSUs may be settled only in common shares of the Company. Therefore, the grants of RSUs under the Equity Incentive Plan 2019 have been accounted for as equity-settled under IFRS 2. As such, the Company records a charge for the vested portion of award grants and for partially earned but non-vested portions of award grants. This results in a front-loaded charge to the Company’s unaudited condensed consolidated interim statement of operations and a corresponding increase to Other Reserves within equity on the unaudited condensed consolidated interim balance sheet. The expense recognized for services received during the three and nine months ended September 30, 2022 was KUSD 6,372 and KUSD 15,135, respectively. The expense recognized for services received during the three and nine months ended September 30, 2021 was KUSD 2,693 and KUSD 6,904, respectively. Number of awards Weighted average grant date fair value December 31, 2021 663,055 30.95 Granted 2,129,991 9.36 Vested (344,446) 30.54 Forfeited (135,416) 21.10 September 30, 2022 2,313,184 11.71 The RSUs granted during 2022 include the annual equity award and special retention award discussed above, which had grant date fair values of USD 14.00 and USD 6.93, respectively. Share-based Compensation Reserves The movement in the Share-based Compensation Reserves (included in Other reserves within equity) is as follows: Three months ended Nine months ended (in KUSD) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Equity Incentive Plan 2019 - Share Options 8,193 12,105 27,158 40,112 Equity Incentive Plan 2019 - RSUs 6,372 2,693 15,135 6,904 Tax and social charge deductions - Incentive Plan 2019 — — (512) — Total 14,565 14,798 41,781 47,016 2022 Employee Stock Purchase Plan In June 2022, the Company adopted the 2022 ESPP, which was approved by shareholders at the Company's 2022 Annual General Meeting. The Company has 782,700 common shares reserved and available for the future issuance. The number of shares available for grant and issuance under the 2022 ESPP will increase on January 1 st of each of the first ten calendar years during the term of the 2022 ESPP by the number of shares equal to 1% of the shares outstanding as of the immediately preceding December 31 st , or lesser number as may be determined by the Board. The aggregate number of shares that may be issued under the 2022 ESPP Plan is equal to 1% of the ordinary share capital of the Company. The 2022 ESPP allows eligible employees to purchase designated shares of the Company's common shares at a discount, over a series of offering periods through accumulated payroll deductions. No offering period may be longer than 27 months. The purchase price for shares purchased under the 2022 ESPP during any given purchase period will be 85% of the lesser of the market price of the Company’s common shares on (i) the offering date or (ii) the purchase date. The grant date of the initial offering period was July 18, 2022, and that offering period will end on December 31, 2022. The Company recognizes share-based compensation expense related to purchase rights granted pursuant to its 2022 ESPP on a straight-line basis over the requisite service period, which is generally a six-month period. The fair value of the purchase rights granted were determined on the date of the grant using the Black-Scholes option-pricing model. The Company used an independent valuation firm to assist in calculating the fair value of the purchase rights. The expense for services received during the three and nine months ended September 30, 2022 was not material to the overall financial statements. As of September 30, 2022, the Company recorded a liability of KUSD 220 related to the accumulated payroll deductions, which are refundable to employees who withdraw from the ESPP. This amount is included within Accrued expenses in other current liabilities in the unaudited condensed consolidated interim balance sheet.

Related parties

Related parties	9 Months Ended
	Sep. 30, 2022
Related Party [Abstract]
Related parties	Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. A.T. Holdings II Sàrl (“AT Holdings II”) is a shareholder in the Company. AT Holdings II is in turn ultimately wholly owned by Auven Therapeutics Holdings, L.P. (“ATH”), a limited partnership registered in the British Virgin Islands. ATH’s General Partner is Auven Therapeutics General L.P., which itself is a limited partnership whose General Partner is Auven Therapeutics GP Ltd. The manager of ATH is Auven Therapeutics Management L.L.L.P. (“ATM”). As a result, ATH is considered a related party. Based on the Company’s contribution and equity interest in Overland ADCT BioPharma, certain of the Company’s employees serve on its board of directors. As a result, Overland ADCT BioPharma is considered a related party. Services provided by the Company to related parties The Company provides registered office and other simple administrative services to three subsidiaries of ATH. The amounts invoiced for the three and nine months ended September 30, 2022 and recovered through G&A expenses, amounted to nil and KUSD 1, respectively (three and nine months ended September 30, 2021: KUSD 1 and KUSD 3, respectively). As contemplated by the license agreement with Overland ADCT BioPharma, Overland ADCT BioPharma has elected to participate in certain of the Company’s global clinical trials, in exchange for which it reimburses the Company for a portion of the cost of those trials. Overland ADCT BioPharma also reimburses the Company for certain expenses in connection with technology transfer and assistance of clinical personnel. During the three and nine months ended September 30, 2022, the Company incurred KUSD 818 and KUSD 2,014, respectively, of clinical trial and service costs to be reimbursed by Overland ADCT BioPharma, which is recorded as a reduction of R&D expenses in the Company’s unaudited condensed consolidated interim statement of operations (three and nine months ended September 30, 2021: KUSD 812 and KUSD 1,602, respectively). In addition, the Company entered into a supply agreement with Overland ADCT BioPharma whereby the Company provides Overland ADCT BioPharma clinical supply for use in trials and supply for early access programs. For the three and nine months ended September 30, 2022, KUSD 5 and KUSD 45, respectively, of supply was provided to Overland ADCT BioPharma which is recorded as a reduction of R&D expenses in the Company’s unaudited condensed consolidated interim statement of operations. There were no such sales to Overland ADCT BioPharma during the three and nine months ended September 30, 2021. Related party balances The Company had a related party receivable balance with Overland ADCT BioPharma of KUSD 1,695 and KUSD 789 as of September 30, 2022 and December 31, 2021, respectively. There were no trade accounts payable with related parties as of September 30, 2022 and December 31, 2021. Key management compensation The compensation of key management is shown below: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Salaries and other short-term employee costs 2,177 2,279 6,383 6,280 Pension costs 47 98 251 338 Share-based compensation expense 8,011 6,448 20,460 20,269 Other compensation 7 12 25 34 Total 10,242 8,837 27,119 26,921 During the second quarter of 2022, there was an organizational realignment of certain key management as a result of the appointment of the Company's new CEO. The key management compensation for the three and nine months ended September 30, 2022 reflects the new management structure, while the comparable prior periods have not been recast to conform to the current structure.

Loss per share

Loss per share	9 Months Ended
	Sep. 30, 2022
Earnings per share [abstract]
Loss per share	Loss per share Three Months Ended September 30, Nine Months Ended September 30, (in KUSD, except per share amounts) 2022 2021 2022 2021 Loss attributable to owners (50,608) (71,549) (131,643) (195,645) Weighted average number of shares outstanding 78,372,680 76,739,770 77,374,388 76,730,117 Basic and diluted loss per share (0.65) (0.93) (1.70) (2.55) For the three and nine months ended September 30, 2022 and 2021, basic and diluted loss per share are calculated on the weighted average number of shares issued and outstanding and exclude shares to be issued under the Equity Incentive Plan 2019, as the effect of including those shares would be anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because the effect of including them would be anti-dilutive were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Equity Incentive Plan 2019 - Share Options 9,725,094 6,326,518 8,625,415 5,759,262 Equity Incentive Plan 2019 - RSUs 2,473,429 594,955 1,731,530 451,761 Conversion of the principal amount of convertible loans into the Company’s common shares — 4,412,840 — 3,682,066 Outstanding warrants 2,470,068 — 832,404 — 14,668,591 11,334,313 11,189,349 9,893,089 The 2022 ESPP share activity was not presented as the effects were not material.

Events after the reporting date

Events after the reporting date	9 Months Ended
	Sep. 30, 2022
Events After Reporting Period [Abstract]
Events after the reporting date	Events after the reporting date The Company has evaluated its subsequent events through November 8, 2022, the date the financial statements were available to be issued, and has concluded that there are no subsequent events requiring disclosure in these unaudited condensed consolidated interim financial statements, other than those described below. The Company held a pre-BLA meeting in September 2022 and a Type C meeting with the FDA in late October. During the Type C meeting, the FDA provided strong guidance that, for it to consider an accelerated approval path, a randomized confirmatory Phase 3 study must be well underway and ideally fully enrolled at the time of any BLA filing for Cami. As a result, the Company will not file the BLA for Cami next year, as it estimates that it would take at least two years to fully enroll a randomized confirmatory Phase 3 study. The Company is engaged with the FDA in an ongoing and constructive dialogue regarding their guidance and the potential regulatory path forward, including the design and timing of the required confirmatory Phase 3 study. At this time, the Company is pausing any material investments in the Hodgkin lymphoma program. The Company will evaluate its options for Cami with a disciplined and strategic approach to resource allocation. The Company discontinued enrollment in the Phase 1b clinical trial of Cami in combination with pembrolizumab for the treatment of solid tumors. The combination was an immune-based approach and intended to enhance the benefit of PD1. While the Company observed signals of immunomodulatory activity, the clinical data were not compelling enough to move forward. The Company recognizes the considerable effort required to fully pursue the opportunity and intend to consider strategic alternatives including a partner for the future development of the program. As this combination was an immunotherapy approach and different from the Company's other solid tumor programs, the Company does not see any read through to its other programs, which it continues to advance.

Deferred royalty obligation

Deferred royalty obligation	9 Months Ended
	Sep. 30, 2022
Deferred Royalty Obligation [Abstract]
Deferred royalty obligation	Deferred royalty obligation On August 25, 2021, the Company entered into a royalty purchase agreement with HCR for up to USD 325.0 million of which the Company received gross proceeds of USD 225.0 million during 2021 and is eligible to receive an additional USD 100.0 million upon the occurrence of certain commercial milestones. The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement. (in KUSD) January 1, 2022 225,477 Less: royalty payments 5,656 Plus: interest expense 17,356 Less: cumulative catch-up adjustment, Financial income (expense), net 16,033 September 30, 2022 221,144 January 1, 2021 — Proceeds from the sale of future royalties 225,000 Less: transaction costs 6,998 Less: royalty payments 213 Plus: interest expense 6,752 Plus: cumulative catch-up adjustment, Financial expense 936 December 31, 2021 225,477 The Company recorded a liability relating to the initial gross proceeds received less transaction costs. The Company will record additional liabilities upon the receipt of eligible amounts when such contingent events occur. To determine the accretion of the liability related to the deferred royalty obligation, the Company is required to estimate the total amount of future royalty payments and estimated timing of such payment to HCR based on the Company's revenue projections. Based on the Company's initial revenue projections, the Company used an independent valuation firm to assist in determining the total amount of future royalty payments and estimated timing of such payment to HCR using an option pricing Monte Carlo simulation model. The amount ultimately received by the Company will be accreted to the total amount of the royalty payments necessary to extinguish the Company’s obligation under the agreement, which will be recorded as interest expense over the life of the royalty purchase agreement. The estimate of this total interest expense resulted in an EIR of 10%. As royalty payments are made to HCR, the balance of the debt obligation will be effectively repaid over the life of the royalty purchase agreement. Based on the Company's periodic review, the exact amount and timing of repayment is likely to be different each reporting period as compared to those estimated based on the Company's initial revenue projections. A significant increase or decrease in actual net sales of ZYNLONTA compared to the Company’s revenue projections, and regulatory approval and commercialization of Cami, as well as ZYNLONTA in other indications as well as licensing revenue could change the royalty rate and royalty cap due to HCR, which could materially impact the debt obligation as well as interest expense associated with the royalty purchase agreement. Also, the Company’s total obligation to HCR can vary depending on the achievement of the sales milestones as well as the timing of a change in control event. The Company will periodically assess the expected payments to HCR based on its underlying revenue projections and to the extent the amount or timing of such payments is materially different than its initial estimates it will record a cumulative catch-up adjustment. Based on the Company's 2022 strategic planning decisions including updated development plans, the Company updated the valuation model during the first quarter of 2022, which resulted in a cumulative catch-up adjustment of KUSD 18,288 recorded as Financial income within the unaudited condensed consolidated interim statement of operations for the three months ended March 31, 2022. The Company updated the valuation model in the second quarter of 2022 for revised revenue forecasts, which had the effect of reducing the Company’s deferred royalty obligation, as well as including upfront and downstream milestone payments related to the Sobi exclusive license agreement, which had the effect of increasing the Company’s deferred royalty obligation. As a result of the updated valuation model in the second quarter of 2022, the Company recorded a non-material cumulative catch-up adjustment recorded as Financial expense within the unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2022. In the third quarter of
Schedule of borrowings	Transaction costs have been allocated to the above two components. Transaction costs associated to the warrant obligation have been charged directly to the unaudited condensed consolidated interim statement of operations, while transaction costs associated to the residual loan have been deducted from the loan. See further illustration in table below: in KUSD Warrant obligation Residual loan Total Loan Principal 3,957 116,043 120,000 Transaction costs (245) (7,187) (7,432) Carrying value of loan at issuance 108,856 The following table summarizes the interest expense recorded on the convertible loan for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche 1,132 2,142 5,664 6,184 Deerfield Second Tranche 404 819 2,020 1,209 Total 1,536 2,961 7,684 7,393 The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement. (in KUSD) January 1, 2022 225,477 Less: royalty payments 5,656 Plus: interest expense 17,356 Less: cumulative catch-up adjustment, Financial income (expense), net 16,033 September 30, 2022 221,144 January 1, 2021 — Proceeds from the sale of future royalties 225,000 Less: transaction costs 6,998 Less: royalty payments 213 Plus: interest expense 6,752 Plus: cumulative catch-up adjustment, Financial expense 936 December 31, 2021 225,477

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Equity	EquityOn August 15, 2022, the Company entered into a share purchase agreement with the Purchasers, pursuant to which, on September 6, 2022, the Company issued and sold to the purchasers an aggregate of 733,568 common shares at USD 8.52 per share. The shares were issued from the Company’s treasury shares at par value, which arose from the Share Subscription Agreement. See note 2, “Basis of Preparation." The transaction was recorded as a USD 6.1 million net increase to share premium for the issuance of the common shares, net of transaction costs accrued and paid, and an increase in cash and cash equivalents.The Company also recorded a USD 19.6 million non-cash net increase to share premium for the issuance of the 2,390,297 common shares to Deerfield in connection with the exchange of the senior secured convertible notes. The shares were issued from the Company’s treasury shares at par value, which arose from the Share Subscription Agreement. See note 15, “Convertible loans” and note 2, “Basis of Preparation” for further information on this transaction and Share Subscription Agreement, respectively.

Significant accounting polici_2

Significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies, Changes in Accounting Estimates And Errors [Abstract]
Statement of Compliance	Statement of Compliance These unaudited condensed consolidated interim financial statements as of and for the three and nine months ended September 30, 2022 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”) and should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2021.
Functional and reporting currency	Functional and reporting currency These unaudited condensed consolidated interim financial statements are presented in United States Dollars (“USD” or “$”), which is the Company’s functional currency and the Group’s reporting currency.
Use of estimates and judgements	Use of estimates and judgements The preparation of the unaudited condensed consolidated interim financial statements in conformity with IAS 34 requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates are based on management’s knowledge of current events and actions that the Company may undertake in the future. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. As a result of increases in interest rates, the Company assessed the impact of utilizing a higher discount rate, 2.0%, in its most recent pension obligation actuarial valuation performed as of December 31, 2021. The use of a higher discount rate resulted in a decrease of KUSD 3.6 million to its Defined benefit pension liabilities with a corresponding offset to Other comprehensive loss which was recorded during the second quarter of 2022. The reduction in its Defined benefit pension liability was capped at the fair value of the Company’s pension plan assets. The Company expects to perform its annual actuarial valuation in conjunction with its fiscal year ending December 31, 2022.
Description Of Accounting Policy For Other Income (Expense) Explanatory	Other income (expense) For periods prior to December 31, 2021, individual components of Non-operating (expense) income were reported separately within the statement of operations. Prior periods have been recast to conform to the current period presentation. See Note 8, “Non-operating (expense) income” for further information.
Revenue Recognition	Revenue Recognition License Arrangements On January 18, 2022, the Company entered into an exclusive license agreement with MTPC for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications in Japan. Furthermore, on July 8, 2022, the Company entered into an exclusive license agreement with Sobi for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications outside of the U.S., greater China, Singapore and Japan. In previous years, the Company had generated revenue from the sale of its product candidates and service revenues from a license and collaboration arrangement. See note 5 “License Revenue” for further information on the MTPC and Sobi arrangement. The Company recognizes revenues from license fees for intellectual property (IP) either at a point in time or over time. The Company must make an assessment as to whether such a license represents a right-to-use the IP (at a point in time) or a right to access the IP (over time). The Company recognizes revenue for a right-to-use license immediately if the licensee can begin to use and benefit from the IP upon commencement of the license term and the Company has no further obligations in the context of the IP. A license is considered a right to access the IP when the Company undertakes activities during the license term that may significantly affect the IP, which directly exposes the customer to any positive or negative effects arising from such activities. These activities do not result in the immediate transfer of a good or service to the customer. As such, revenues from the right to access the IP are recognized over time. The Company may enter into agreements with multiple performance obligations. Performance obligations are identified and separated when the other party can benefit from the license on its own or together with other resources that are readily available, and the license is separately identifiable from other goods or services in the contract. Transaction prices for out-license arrangements may include fixed up-front amounts as well as variable consideration such as contingent development and regulatory milestones, sales-based milestones and royalties. The most likely amount method is used to estimate contingent development and regulatory milestones because the ultimate outcomes are binary in nature. Variable consideration is included in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. To the extent arrangements include multiple performance obligations that are separable, the transaction price assigned to each distinct performance obligation is reflective of the relative stand-alone selling price when sold separately or estimated stand-alone selling price on the basis of comparable transactions with other customers when such goods or services are not sold separately. The residual approach is the method used to estimate a stand-alone selling price when the selling price for a good or service is highly variable or uncertain. In determining the transaction prices, sales milestones and royalties attributable to licenses are excluded from the variable consideration guidance and recognized at the later of when the subsequent sales transaction occurs, or the satisfaction or partial satisfaction of the performance obligation to which some or all of the royalty has been allocated. Senior secured term loan facility The Company, ADCT UK and ADCT America entered into a USD 175.0 million Loan Agreement on August 15, 2022, pursuant to which the counterparty agreed to extend secured term loans to the Company in disbursements as follows: (i) a First Tranche and (ii) Future Tranches. See note 14, “Senior secured term loan facility and warrants.” Accounting for the First Tranche On August 15, 2022, the Company drew down the First Tranche of the senior secured term loans in the amount of USD 120.0 million and issued to the lenders under the Loan Agreement warrants to purchase an aggregate of 527,295 common shares, which warrants have an exercise price of USD 8.30 per share. These senior secured term loans have been recognized as a hybrid financial instrument and accounted for as two separate components: (i) a warrant obligation and (ii) a loan. i) The warrant obligation is presented in the unaudited condensed consolidated interim balance sheet as a liability given the warrants may be settled through a cash or cashless exercise by the warrant holder. The liability was initially measured at fair value using a Black-Scholes pricing model and is subsequently remeasured to fair value at each reporting date. Changes in the fair value (gains or losses) of the warrant obligation at the end of each period are recorded in the unaudited condensed consolidated interim statement of operations. ii) The senior secured term loan’s initial fair value is the residual amount of the consideration received, net of attributable costs, after separating out the fair value of the warrant obligation. The loan is subsequently measured at its amortized cost using an effective interest rate ("EIR") in accordance with IFRS 9. Given the interest rate in the senior secured term loans is variable and dependent upon market factors, the Company will update the EIR at the end of each reporting period for changes in the rate. The revised EIR will be used prospectively with no income or expense recorded in the period of interest rate change. The loan is presented as a financial liability in the unaudited condensed consolidated interim balance sheet. The net present value of those cash outflows occurring within 12 months of the balance sheet date discounted at the same rate is presented as a short-term liability in the unaudited condensed consolidated interim balance sheet. The remainder of the amount is presented as a long-term liability. Expenses and fees payable upon the issuance of the First Tranche of senior secured term loans were allocated pro rata to the above two components. The share of expenses allocated to the warrant obligation were charged directly to the unaudited condensed consolidated interim statement of operations, while the share of expenses allocated to the residual senior secured term loans was deducted from the loan and included in the calculation of the EIR. Accounting for the Future Tranches
New and amended IFRS standards	New and amended IFRS standards There are no new IFRS standards, amendments to standards or interpretations that are mandatory for the financial year beginning on January 1, 2022, that are relevant to the Group and that have had any impact in the interim period. New standards, amendments to standards and interpretations that are not yet effective, which have been deemed by the Group as currently not relevant, are not listed here.

Basis of preparation (Tables)

Basis of preparation (Tables)	9 Months Ended
	Sep. 30, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Schedule of Foreign currency exchange rate	A subsidiary of the Company, ADCT UK, has a functional currency of the British Pound (“GBP”). The following exchange rates have been used for the translation of the financial statements of ADCT UK: Nine Months Ended September 30, 2022 2021 USD / GBP Closing rate, GBP 1 1.11348 1.34593 Weighted average exchange rate, GBP 1 1.18746 1.39209

Product revenues, net (Tables)

Product revenues, net (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue From Contracts With Customers [Abstract]
Disclosure Of Detailed Information About Sales Adjustments Explanatory	The table below provides a rollforward of the Company’s accruals related to the GTN sales adjustments for the three and nine months ended September 30, 2022 and September 30, 2021. Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Beginning balance 3,464 730 2,590 — GTN sales adjustments for current year sales 3,706 2,081 10,403 2,833 GTN sales adjustments for prior year sales (253) — (358) — Credits, payments and reclassifications to Accounts payable (3,624) (84) (9,342) (106) Ending balance as of September 30, 3,293 2,727 3,293 2,727
Disclosure Of Detailed Information About Sales Adjustment Included In the Balance Sheets	The table below provides the classification of the accruals related to the GTN sales adjustment included in the Company’s unaudited condensed consolidated interim balance sheet as of September 30, 2022 and December 31, 2021. (in KUSD) As of September 30, 2022 As of December 31, 2021 Accounts receivable, net 1,414 1,204 Other current liabilities 1,879 1,386 3,293 2,590

Operating expense (Tables)

Operating expense (Tables)	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Disclosure Of Detailed Information About Expenses By Nature Explanatory	The following table provides the unaudited condensed consolidated interim statement of operations classification of the Company's total operating expense: (in KUSD) Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Cost of product sales 1,295 502 4,090 623 R&D External costs (1) 24,363 20,041 83,706 66,330 Employee expense (2) 17,313 16,764 55,459 49,180 R&D expenses 41,676 36,805 139,165 115,510 S&M External costs (3) 8,236 7,973 26,406 18,989 Employee expense (2) 8,611 9,072 26,470 27,188 S&M expenses 16,847 17,045 52,876 46,177 G&A External costs (1) 5,020 4,599 18,539 15,204 Employee expense (2) 14,597 11,988 38,329 38,332 G&A expenses 19,617 16,587 56,868 53,536 Total operating expense 79,435 70,939 252,999 215,846 (1) Includes depreciation expense (2) Includes share-based compensation expense (3) Includes depreciation expense for Property, plant and equipment for the three and nine months ended September 30, 2022. All other depreciation expense was not material for the three and nine months ended September 30, 2022. All depreciation expense was not material for the three and nine months ended September 30, 2021.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory [Abstract]
Disclosure Of Inventory Information Explanatory	Inventory as of September 30, 2022 and December 31, 2021 consisted of the following: (in KUSD) As of September 30, 2022 As of December 31, 2021 Work in process 15,407 10,562 Finished goods (1) 338 560 Total inventory 15,745 11,122

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in intangible assets and goodwill [text block]	below provides a rollforward of the Company’s intangible assets as of September 30, 2022 and 2021. (in KUSD) Indefinite lived Definite lived Cost Licenses Internal development costs Licenses Software Total January 1, 2022 12,985 631 1,052 176 14,844 Additions 695 323 — 97 1,115 Exchange differences — — — (17) (17) September 30, 2022 13,680 954 1,052 256 15,942 Accumulated Amortization January 1, 2022 (1,069) — (50) (143) (1,262) Amortization charge — — (56) (32) (88) Exchange differences — — 6 6 September 30, 2022 (1,069) — (106) (169) (1,344) Net book amount as of September 30, 2022 12,611 954 946 87 14,598 Cost January 1, 2021 11,144 — — 168 11,312 Additions 1,700 926 600 14 3,240 Transfers (452) — 452 (6) (6) September 30, 2021 12,392 926 1,052 176 14,546 Accumulated Amortization January 1, 2021 (1,069) — — (64) (1,133) Amortization charge — — (31) (65) (96) September 30, 2021 (1,069) — (31) (130) (1,230) Net book amount as of September 30, 2021 11,323 926 1,021 46 13,316

Non-operating income (Tables)

Non-operating income (Tables)	9 Months Ended
	Sep. 30, 2022
Analysis of income and expense [abstract]
Schedule of Other income (expense)	Three months ended September 30, Nine months ended September 30, (in KUSD) Note 2022 2021 2022 2021 Convertible loans, derivatives, change in fair value (expense) income 15 (4,660) (6,943) 25,650 16,279 Convertible loans, derivatives, transaction costs — — — (148) Loss on debt extinguishment 15 (42,114) — (42,114) — Deerfield warrant obligation, change in fair value income 16 9,418 — 9,418 — Senior secured term loan facility, warrants, transaction costs 14 (245) — (245) — Senior secured term loan facility, warrants, change in fair value income 14 2,543 — 2,543 — Share of results with joint venture 12 (2,130) (2,210) (6,549) (3,906) Exchange differences (loss) gain (56) (7) 248 145 R&D tax credit (expense) 122 (203) 244 190 Non-operating income (expense) (37,122) (9,363) (10,805) 12,560

Interest in joint venture (Tabl

Interest in joint venture (Tables)	9 Months Ended
	Sep. 30, 2022
Interests In Other Entities [Abstract]
Schedule of movement in interest in joint venture	The table below provides a rollforward of the Company’s interest in Overland ADCT BioPharma as of September 30, 2022 and 2021, respectively. (in KUSD) Interest in joint venture January 1, 2022 41,236 Share of results in joint venture (6,549) September 30, 2022 34,687 January 1, 2021 47,908 Share of results in joint venture (3,906) September 30, 2021 44,002
Summary of financial information in join venture	The tables below provide summarized financial information for Overland ADCT BioPharma that is material to the Company. The following information reflects the amounts presented in the financial statements of Overland ADCT BioPharma and not the Company’s share of those amounts. (in KUSD) As of Summarized Balance Sheet September 30, 2022 December 31, 2021 Cash and cash equivalents 24,445 39,318 Prepaid and other current assets 516 15 Intangible assets 48,040 48,040 Total liabilities 3,711 2,828 Net assets 69,290 84,545 Summarized Statement of Comprehensive Loss Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Operating expenses 4,950 4,465 14,317 8,120 Net loss 4,346 4,511 13,009 7,972

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of quantitative information about right-of-use assets	(in KUSD) Right-of-Use Assets Properties (Offices) Vehicles Total Cost January 1, 2022 9,005 134 9,139 Additions 1,234 — 1,234 Exchange difference (911) — (911) September 30, 2022 9,328 134 9,462 Accumulated depreciation January 1, 2022 (1,925) (50) (1,975) Depreciation charge (871) (25) (896) Exchange difference 117 — 117 September 30, 2022 (2,679) (75) (2,754) Net book amount as of September 30, 2022 6,649 59 6,708 Cost January 1, 2021 5,324 78 5,402 Additions 5,662 56 5,718 Lease termination (864) — (864) Exchange difference (132) — (132) September 30, 2021 9,990 134 10,124 Accumulated depreciation January 1, 2021 (2,253) (20) (2,273) Depreciation charge (1,172) (22) (1,194) Lease termination 864 — 864 Exchange difference 19 — 19 September 30, 2021 (2,542) (42) (2,584) Net book amount as of September 30, 2021 7,448 92 7,540 During the third quarter of 2022, the Company extended the term of its existing lease related to its U.S. corporate offices in New Jersey for an additional two years commencing on December 1, 2022, including an extension option for three additional years. The Company is reasonably certain it will exercise the extension option and therefore has accounted for the lease using a five-year lease term.
Schedule of quantitative information about lease liabilities	(in KUSD) Lease liabilities Properties (Offices) Vehicles Total January 1, 2022 7,898 125 8,023 Additions 1,234 — 1,234 Cash outflow (including interest) (901) — (901) Interest 144 — 144 Exchange difference (978) (65) (1,043) September 30, 2022 7,397 60 7,457 January 1, 2021 3,402 65 3,467 Additions 5,662 56 5,718 Cash outflow (including interest) (892) (24) (916) Interest 168 2 170 Exchange difference (234) (10) (244) September 30, 2021 8,106 89 8,195 September 30, 2022 Lease liabilities (short-term) 801 34 835 Lease liabilities (long-term) 6,596 26 6,622 Total lease liabilities 7,397 60 7,457 September 30, 2021 Lease liabilities (short-term) 981 31 1,012 Lease liabilities (long-term) 7,125 58 7,183 Total lease liabilities 8,106 89 8,195

Senior secured term loan faci_2

Senior secured term loan facility and warrants (Tables)	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Schedule of key inputs used for valuation	The warrant obligation has been recorded at an initial fair value of USD 4.0 million on August 15, 2022 and is remeasured to fair value on a quarterly basis. Key inputs for the valuation of the warrant obligation as of August 15, 2022 were as follows: As of August 15, 2022 Exercise price in USD 8.30 Share price in USD 10.33 Risk-free interest rate 2.9 % Expected volatility 87 % Expected term (months) 60 months Dividend yield — Black-Scholes value in USD 7.51 The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligations, using the Black-Scholes option-pricing model. Key inputs for the valuation of the warrant obligations as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 8.30 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 58.5 months Dividend yield — Black-Scholes value in USD 2.68 Deerfield First Tranche As of August 15, 2022 December 31, 2021 Exercise price at 130% of the IPO price of 19.00, in USD 24.70 24.70 Forced conversion price, in USD 67.93 67.93 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Deerfield Second Tranche As of August 15, 2022 December 31, 2021 Exercise price in USD 28.07 28.07 Forced conversion price, in USD 77.19 77.19 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 %
Schedule of borrowings	Transaction costs have been allocated to the above two components. Transaction costs associated to the warrant obligation have been charged directly to the unaudited condensed consolidated interim statement of operations, while transaction costs associated to the residual loan have been deducted from the loan. See further illustration in table below: in KUSD Warrant obligation Residual loan Total Loan Principal 3,957 116,043 120,000 Transaction costs (245) (7,187) (7,432) Carrying value of loan at issuance 108,856 The following table summarizes the interest expense recorded on the convertible loan for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche 1,132 2,142 5,664 6,184 Deerfield Second Tranche 404 819 2,020 1,209 Total 1,536 2,961 7,684 7,393 The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement. (in KUSD) January 1, 2022 225,477 Less: royalty payments 5,656 Plus: interest expense 17,356 Less: cumulative catch-up adjustment, Financial income (expense), net 16,033 September 30, 2022 221,144 January 1, 2021 — Proceeds from the sale of future royalties 225,000 Less: transaction costs 6,998 Less: royalty payments 213 Plus: interest expense 6,752 Plus: cumulative catch-up adjustment, Financial expense 936 December 31, 2021 225,477

Convertible loans (Tables)

Convertible loans (Tables)	9 Months Ended
	Sep. 30, 2022
Financial Instruments [Abstract]
Schedule of Derivative Option and Convertible Loan	The following table summarizes the changes in fair value income (expense) and profit or loss activity of the embedded conversion option derivatives during the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche (1) (2,822) (3,913) 15,556 16,867 Deerfield Second Tranche - prior to FDA approval (2) — — — 3,454 Deerfield Second Tranche - after FDA approval (1) (1,838) (3,030) 10,094 (4,042) Total (4,660) (6,943) 25,650 16,279 (1) The fair value expense recognized during the three and nine months ended September 30, 2022 represents the change in fair value up until the point of exchange on August 15, 2022. (2) In addition to the changes in fair value, the Company recorded a gain of KUSD 1,816 during the nine months ended September 30, 2021 with the receipt of the USD 50 million subsequent disbursement, the establishment of the embedded derivative and residual loan associated with the subsequent disbursement and elimination of the derivative immediately prior to FDA approval of ZYNLONTA.
Schedule of key inputs used for valuation	The warrant obligation has been recorded at an initial fair value of USD 4.0 million on August 15, 2022 and is remeasured to fair value on a quarterly basis. Key inputs for the valuation of the warrant obligation as of August 15, 2022 were as follows: As of August 15, 2022 Exercise price in USD 8.30 Share price in USD 10.33 Risk-free interest rate 2.9 % Expected volatility 87 % Expected term (months) 60 months Dividend yield — Black-Scholes value in USD 7.51 The Company used an independent valuation firm to assist in calculating the fair value of the warrant obligations, using the Black-Scholes option-pricing model. Key inputs for the valuation of the warrant obligations as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 8.30 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 58.5 months Dividend yield — Black-Scholes value in USD 2.68 Deerfield First Tranche As of August 15, 2022 December 31, 2021 Exercise price at 130% of the IPO price of 19.00, in USD 24.70 24.70 Forced conversion price, in USD 67.93 67.93 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 % Deerfield Second Tranche As of August 15, 2022 December 31, 2021 Exercise price in USD 28.07 28.07 Forced conversion price, in USD 77.19 77.19 Share price in USD 10.33 20.20 Risk-free interest rate 3.2 % 1.0 % Expected volatility 85 % 77 % Expected term (months) 32.5 months 40 months Dividend yield — — Recovery rate 5 % 5 % Implied bond yield 12.0 % 8.8 %
Schedule of borrowings	Transaction costs have been allocated to the above two components. Transaction costs associated to the warrant obligation have been charged directly to the unaudited condensed consolidated interim statement of operations, while transaction costs associated to the residual loan have been deducted from the loan. See further illustration in table below: in KUSD Warrant obligation Residual loan Total Loan Principal 3,957 116,043 120,000 Transaction costs (245) (7,187) (7,432) Carrying value of loan at issuance 108,856 The following table summarizes the interest expense recorded on the convertible loan for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Deerfield First Tranche 1,132 2,142 5,664 6,184 Deerfield Second Tranche 404 819 2,020 1,209 Total 1,536 2,961 7,684 7,393 The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement. (in KUSD) January 1, 2022 225,477 Less: royalty payments 5,656 Plus: interest expense 17,356 Less: cumulative catch-up adjustment, Financial income (expense), net 16,033 September 30, 2022 221,144 January 1, 2021 — Proceeds from the sale of future royalties 225,000 Less: transaction costs 6,998 Less: royalty payments 213 Plus: interest expense 6,752 Plus: cumulative catch-up adjustment, Financial expense 936 December 31, 2021 225,477

Deerfield Warrants (Tables)

Deerfield Warrants (Tables)	9 Months Ended
	Sep. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of valuation inputs	Key inputs for the valuation of the warrant obligation as of September 30, 2022 were as follows: As of September 30, 2022 Exercise price in USD 24.70 and 28.07 Share price in USD 4.82 Risk-free interest rate 4.2 % Expected volatility 80 % Expected term (months) 31.7 months Dividend yield — Black-Scholes value in USD 0.69 and 0.60

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-based Payment Arrangements [Abstract]
Schedule of Shares Outstanding	The following table summarizes the share option awards outstanding as of September 30, 2022: Average strike price per share in USD Number of awards Weighted average remaining life December 31, 2021 27.23 6,640,200 8.70 Granted 12.26 3,937,056 9.39 Forfeited 26.71 (820,031) N/A September 30, 2022 21.23 9,757,225 8.39
Schedule of Fair Value Assumption For Options Granted	The fair values of the options granted during the three and nine months ended September 30, 2022 were determined on the date of the grant using the following assumptions: Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Share price, in USD 4.83 - 8.54 4.83 - 19.69 Strike price, in USD 4.83 - 8.54 4.83 - 19.69 Expected volatility 70% to 80% 70% to 80% Award life 6.08 6.08 Expected dividends — — Risk-free interest rate 2.61% - 3.77% 1.46% - 3.77%
Schedule of Other Equity Instruments Outstanding	Number of awards Weighted average grant date fair value December 31, 2021 663,055 30.95 Granted 2,129,991 9.36 Vested (344,446) 30.54 Forfeited (135,416) 21.10 September 30, 2022 2,313,184 11.71
Schedule of Share-based Compensation Reserve	The movement in the Share-based Compensation Reserves (included in Other reserves within equity) is as follows: Three months ended Nine months ended (in KUSD) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Equity Incentive Plan 2019 - Share Options 8,193 12,105 27,158 40,112 Equity Incentive Plan 2019 - RSUs 6,372 2,693 15,135 6,904 Tax and social charge deductions - Incentive Plan 2019 — — (512) — Total 14,565 14,798 41,781 47,016

Related parties (Tables)

Related parties (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party [Abstract]
Key Management Compensation	The compensation of key management is shown below: Three months ended September 30, Nine months ended September 30, (in KUSD) 2022 2021 2022 2021 Salaries and other short-term employee costs 2,177 2,279 6,383 6,280 Pension costs 47 98 251 338 Share-based compensation expense 8,011 6,448 20,460 20,269 Other compensation 7 12 25 34 Total 10,242 8,837 27,119 26,921

Loss per share (Tables)

Loss per share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings per share [abstract]
Schedule of loss per share and potentially dilutive securities	Three Months Ended September 30, Nine Months Ended September 30, (in KUSD, except per share amounts) 2022 2021 2022 2021 Loss attributable to owners (50,608) (71,549) (131,643) (195,645) Weighted average number of shares outstanding 78,372,680 76,739,770 77,374,388 76,730,117 Basic and diluted loss per share (0.65) (0.93) (1.70) (2.55) Potentially dilutive securities that were not included in the diluted per share calculations because the effect of including them would be anti-dilutive were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Equity Incentive Plan 2019 - Share Options 9,725,094 6,326,518 8,625,415 5,759,262 Equity Incentive Plan 2019 - RSUs 2,473,429 594,955 1,731,530 451,761 Conversion of the principal amount of convertible loans into the Company’s common shares — 4,412,840 — 3,682,066 Outstanding warrants 2,470,068 — 832,404 — 14,668,591 11,334,313 11,189,349 9,893,089

Corporate information (Details)

Corporate information (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 15, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) subsidiary	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Apr. 24, 2020 USD ($)
Disclosure of detailed information about borrowings [line items]
Number of subsidiaries | subsidiary		3
Cash and cash equivalents, minimum quarterly balance		$ 60,000
Cash and cash equivalents		380,860	$ 530,194	$ 466,544	$ 439,195
Exchange Of Convertible Notes For Warrants	$ 115,000
Convertible Notes, Value Converted	$ 117,300
Proceeds from equity issuance, net of transaction costs		6,192	$ 0
Purchasers
Disclosure of detailed information about borrowings [line items]
Number of shares issued | shares	733,568
Sale Of Stock, Price Per Share | $ / shares	$ 8.52
Proceeds from equity issuance, net of transaction costs	$ 6,100
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	4,412,840
Warrants, Tranche Two
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	2,390,297
Warrants, Tranche One, Price One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	2,631,578
Warrants, Shares Converted, Exercise Price | $ / shares	$ 24.70
Warrants, Tranche One, Price Two
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	1,781,262
Warrants, Shares Converted, Exercise Price | $ / shares	$ 28.07
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity						$ 115,000
Borrowings		$ 120,000
Loan Agreement
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity	$ 175,000
Borrowings	$ 120,000
Convertible Notes, Shares Converted | shares	527,295
Warrants, Shares Converted, Exercise Price | $ / shares	$ 8.30
Loan Agreement, First Tranche
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity	$ 120,000
Loan Agreement, Future Tranches
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity	$ 27,500

Basis of preparation - Schedule

Basis of preparation - Schedule of Foreign currency exchange rate (Details) - $ / £	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Corporate Information And Statement Of IFRS Compliance [Abstract]
Closing foreign exchange rate	1.11348	1.34593
Average foreign exchange rate	1.18746	1.39209

Basis of preparation - Addition

Basis of preparation - Additional information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2022
Disclosure of subsidiaries [line items]
Pension Obligation, Discount Rate		2%
Remeasurement of defined benefit pension liability		$ 3,600,000	$ 3,618,000
Share Subscription Agreement
Disclosure of subsidiaries [line items]
Number of shares issued	3,123,865		3,123,865
Sale or issue of treasury shares	$ 733,568
Exchange Agreement
Disclosure of subsidiaries [line items]
Sale or issue of treasury shares	$ 2,390,297

Significant accounting polici_3

Significant accounting policies (Details)	Aug. 15, 2022 shares
Warrants, Tranche One
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	4,412,840
Warrants, Tranche One, Price One
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	2,631,578
Warrants, Tranche One, Price Two
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	1,781,262

Financial risk management (Deta

Financial risk management (Details) - Interest rate risk - Senior Secured Term Loan Facility $ in Thousands	Sep. 30, 2022 USD ($)
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of interest rate risk, reasonably possible change in risk variable, increase on derivative values	$ 272
Sensitivity analysis for types of interest rate risk, reasonably possible change in risk variable, decrease on derivative values	$ 273

Product revenues, net (Details)

Product revenues, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Revenue From Contracts With Customers [Abstract]
Sales adjustment, beginning balance	$ 3,293	$ 2,727	$ 3,293	$ 2,727	$ 3,464	$ 2,590	$ 730	$ 0
GTN Sales Adjustment, Provision	3,706	2,081	10,403	2,833
GTN Sales Adjustment, Provision, Prior Period Sales	(253)	0	(358)	0
GTN Sales Adjustment, Credits And Payments	(3,624)	(84)	(9,342)	(106)
Sales adjustment, ending balance	3,293	$ 2,727	3,293	$ 2,727
Accounts receivable, net	1,414		1,414			1,204
Other current liabilities	$ 1,879		$ 1,879			$ 1,386

Product revenues, net - Narrati

Product revenues, net - Narrative (Details) - USD ($) $ in Millions		1 Months Ended
	Jan. 18, 2022	Jul. 31, 2022	Jan. 31, 2022
Disclosure of disaggregation of revenue from contracts with customers [line items]
License Agreement, Milestone Payments	$ 205
Proceeds From License Agreement	$ 30
License Agreement
Disclosure of disaggregation of revenue from contracts with customers [line items]
License Agreement, Milestone Payments		$ 382.5
Proceeds From License Agreement		55
License Agreement, Capped Contribution		$ 10
License Agreement, Percent Of Clinical Trial Costs Paid		25%
Application Approval
Disclosure of disaggregation of revenue from contracts with customers [line items]
License Agreement, Milestone Payments			$ 50

Segment information (Details)

Segment information (Details)	9 Months Ended
	Sep. 30, 2022 segment
Operating Segments [Abstract]
Number of business segments	1

Operating expense - Schedule of

Operating expense - Schedule of Expenses by Nature (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Cost of product sales	$ 1,295	$ 502	$ 4,090	$ 623
Research and development expense	41,676	36,805	139,165	115,510
Sales and marketing expense	16,847	17,045	52,876	46,177
General and administrative expense	19,617	16,587	56,868	53,536
Operating expense	79,435	70,939	252,999	215,846
External costs
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Research and development expense	24,363	20,041	83,706	66,330
Sales and marketing expense	8,236	7,973	26,406	18,989
General and administrative expense	5,020	4,599	18,539	15,204
Employee expense
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Research and development expense	17,313	16,764	55,459	49,180
Sales and marketing expense	8,611	9,072	26,470	27,188
General and administrative expense	$ 14,597	$ 11,988	$ 38,329	$ 38,332

Operating expense - Narrative (

Operating expense - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Gain from reversal of inventory impairment charges	$ 7,049			$ 0	$ (7,049)
Impairment loss recognised in profit or loss, property, plant and equipment				1,700
General and administrative expense		$ 19,617	$ 16,587	56,868	$ 53,536
Executive Compensation
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
General and administrative expense				1,300
Manufacturing Of Antibodies
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Gain from reversal of inventory impairment charges		$ 800		$ 2,500

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) $ in Millions	Sep. 30, 2022 USD ($)
Cash and cash equivalents [abstract]
Cash and cash equivalents, minimum quarterly balance	$ 60

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory [Abstract]
Current work in progress	$ 15,407	$ 10,562
Current finished goods	338	560
Inventories	15,745	$ 11,122
Current Finished Goods Held On Consignment	$ 3

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Gain from reversal of inventory impairment charges	$ 7,049		$ 0	$ (7,049)
ZYNLONTA For R&D
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Gain from reversal of inventory impairment charges		$ 75	$ 75

Intangible assets - Rollforward

Intangible assets - Rollforward of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disclosure of detailed information about intangible assets [line items]
Beginning balance	$ 13,582
Ending balance	14,598	$ 13,316
Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	14,844	11,312
Additions	1,115	3,240
Transfers		(6)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(17)
Ending balance	15,942	14,546
Accumulated amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(1,262)	(1,133)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(6)
Amortisation, intangible assets other than goodwill	(88)	(96)
Ending balance	(1,344)	(1,230)
Licenses
Disclosure of detailed information about intangible assets [line items]
Ending balance	12,611	11,323
Licenses | Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	12,985	11,144
Additions	695	1,700
Transfers		(452)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	13,680	12,392
Licenses | Accumulated amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(1,069)	(1,069)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	0	0
Ending balance	(1,069)	(1,069)
Internal development costs
Disclosure of detailed information about intangible assets [line items]
Ending balance	954	926
Internal development costs | Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	631	0
Additions	323	926
Transfers		0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	954	926
Internal development costs | Accumulated amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	0	0
Amortisation, intangible assets other than goodwill	0	0
Ending balance	0	0
Licenses
Disclosure of detailed information about intangible assets [line items]
Ending balance	946	1,021
Licenses | Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	1,052	0
Additions	0	600
Transfers		452
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	1,052	1,052
Licenses | Accumulated amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(50)	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	(56)	(31)
Ending balance	(106)	(31)
Software
Disclosure of detailed information about intangible assets [line items]
Ending balance	87	46
Software | Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	176	168
Additions	97	14
Transfers		(6)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(17)
Ending balance	256	176
Software | Accumulated amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(143)	(64)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(6)
Amortisation, intangible assets other than goodwill	(32)	(65)
Ending balance	$ (169)	$ (130)

Intangible assets - Narrative (

Intangible assets - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Dosing Of Specific Number Of Patients | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions	$ 500
Successful Completion Of In-Vivo Efficacy Studies | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions	$ 195
License To Acquire An Antibody, ZYNLONTA | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions		$ 1,050
ZYNLONTA
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill		14 years
License To Use Technology To Generate Antibody Drug Conjugates, ZYNLONTA | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions		$ 600
License To Use Technology To Generate Antibody Drug Conjugates, ZYNLONTA (2) | License Payment
Disclosure of detailed information about intangible assets [line items]
Additions		$ 250

Non-operating income - Schedule

Non-operating income - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of attribution of expenses by nature to their function [line items]
Gains (losses) on change in fair value of derivatives	$ (4,660)	$ (6,943)	$ 25,650	$ 16,279
Convertible loans, derivatives, transaction costs	0	0	0	(148)
Loss on extinguishment	(42,114)	0	(42,114)	0
Warrant Obligations, Transaction Costs	(245)	0	(245)	0
Share of results with joint venture	(2,130)	(2,210)	(6,549)	(3,906)
Foreign exchange gain (loss)	(56)	(7)	248	145
Tax Effect Of Research And Development Tax Credits	122	(203)	244	190
Non-operating income (expense)	(37,122)	(9,363)	(10,805)	12,560
Facility Agreement with Deerfield Partners, L.P.
Disclosure of attribution of expenses by nature to their function [line items]
Loss on extinguishment			(42,100)
Deerfield warrant obligation, change in fair value income	9,418	0	9,418	0
Senior Secured Term Loan Facility
Disclosure of attribution of expenses by nature to their function [line items]
Deerfield warrant obligation, change in fair value income	$ 2,543	$ 0	$ 2,543	$ 0

Non-operating income - Narrativ

Non-operating income - Narrative (Details) - USD ($) $ in Millions	Aug. 15, 2022	Sep. 30, 2022	May 19, 2020	Apr. 24, 2020
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	4,412,840
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Borrowings			$ 65	$ 65
Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Borrowings				50
Borrowings, maximum borrowing capacity				50
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 120
Borrowings, maximum borrowing capacity				$ 115

Interest in joint venture - Nar

Interest in joint venture - Narrative (Details) $ in Millions		9 Months Ended
	Dec. 14, 2020 product	Sep. 30, 2022 USD ($)
Disclosure of joint ventures [line items]
Deferred Gain On Investment In Joint Venture | $		$ 23.5
Overland ADCT BioPharma
Disclosure of joint ventures [line items]
Number of product candidates developed and commercialized in joint venture	3
Number of products developed and commercialized in joint venture	1

Interest in joint venture - Sch

Interest in joint venture - Schedule of movement in interest in joint venture (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disclosure of joint ventures [line items]
Beginning balance	$ 41,236
Ending balance	34,687
Overland ADCT BioPharma
Disclosure of joint ventures [line items]
Beginning balance	41,236	$ 47,908
Share of results in joint venture	(6,549)	(3,906)
Ending balance	$ 34,687	$ 44,002

Interest in joint venture - Sum

Interest in joint venture - Summary of financial information in joint venture (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disclosure of joint ventures [line items]
Cash and cash equivalents	$ 380,860	$ 530,194	$ 380,860	$ 530,194	$ 466,544	$ 439,195
Intangible assets	14,598	13,316	14,598	13,316	13,582
Total liabilities	426,976		426,976		451,884
Operating expense	79,435	70,939	252,999	215,846
Net loss	(50,608)	(71,549)	(131,643)	(195,645)
Overland ADCT BioPharma
Disclosure of joint ventures [line items]
Cash and cash equivalents	24,445		24,445		39,318
Prepaid and other current assets	516		516		15
Intangible assets	48,040		48,040		48,040
Total liabilities	3,711		3,711		2,828
Net assets	69,290		69,290		$ 84,545
Operating expense	4,950	4,465	14,317	8,120
Net loss	$ 4,346	$ 4,511	$ 13,009	$ 7,972

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2022 m²
Leases [Abstract]
Lease area (in square meters)	1,100

Leases - Right-of-Use Assets an

Leases - Right-of-Use Assets and Accumulated Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			$ 7,164
Depreciation charge	$ (290)	$ (395)	(896)	$ (1,194)
Right-of-use asset, ending balance	6,708	7,540	6,708	7,540
Cost
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			9,139	5,402
Additions			1,234	5,718
Exchange difference			(911)	(132)
Lease termination				864
Right-of-use asset, ending balance	9,462	10,124	9,462	10,124
Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			(1,975)	(2,273)
Exchange difference			117	19
Depreciation charge			(896)	(1,194)
Lease termination				864
Right-of-use asset, ending balance	(2,754)	(2,584)	(2,754)	(2,584)
Properties (Offices)
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, ending balance	6,649	7,448	6,649	7,448
Properties (Offices) | Cost
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			9,005	5,324
Additions			1,234	5,662
Exchange difference			(911)	(132)
Lease termination				864
Right-of-use asset, ending balance	9,328	9,990	9,328	9,990
Properties (Offices) | Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			(1,925)	(2,253)
Exchange difference			117	19
Depreciation charge			(871)	(1,172)
Lease termination				864
Right-of-use asset, ending balance	(2,679)	(2,542)	(2,679)	(2,542)
Vehicles
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, ending balance	59	92	59	92
Vehicles | Cost
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			134	78
Additions			0	56
Exchange difference			0	0
Lease termination				0
Right-of-use asset, ending balance	134	134	134	134
Vehicles | Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance			(50)	(20)
Exchange difference			0	0
Depreciation charge			(25)	(22)
Lease termination				0
Right-of-use asset, ending balance	$ (75)	$ (42)	$ (75)	$ (42)

Leases - Right-of-Use Asset Dep

Leases - Right-of-Use Asset Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	$ 290	$ 395	$ 896	$ 1,194
R&D expense
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	228	334	711	1,016
G&A expense
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	$ 62	$ 61	$ 185	$ 178

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	$ 8,023	$ 8,023	$ 3,467
Additions	5,718	1,234
Cash outflow (including interest)		(901)	(916)
Interest		144	170
Exchange difference		(1,043)	(244)
Ending balance		7,457	8,195
Lease liabilities, short-term		835	1,012	$ 1,029
Lease liabilities, long-term		6,622	7,183	$ 6,994
Properties (Offices)
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	7,898	7,898	3,402
Additions	5,662	1,234
Cash outflow (including interest)		(901)	(892)
Interest		144	168
Exchange difference		(978)	(234)
Ending balance		7,397	8,106
Lease liabilities, short-term		801	981
Lease liabilities, long-term		6,596	7,125
Vehicles
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	125	125	65
Additions	$ 56	0
Cash outflow (including interest)		0	(24)
Interest		0	2
Exchange difference		(65)	(10)
Ending balance		60	89
Lease liabilities, short-term		34	31
Lease liabilities, long-term		$ 26	$ 58

Senior secured term loan faci_3

Senior secured term loan facility and warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 15, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	May 19, 2020	Apr. 24, 2020
Disclosure of detailed information about borrowings [line items]
Cash and cash equivalents, minimum quarterly balance		$ 60,000		$ 60,000
Gains (losses) on change in fair value of derivatives		4,660	$ 6,943	(25,650)	$ (16,279)
Convertible loans, derivatives		0		0		$ 37,947
Convertible loans, short-term		0		0		$ 6,575
Proceeds from senior secured term loans, net of transaction costs				114,490	0
Warrant Obligation, Fair Value	$ 4,000
Borrowings, Fair Value	116,000
Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		1,536	2,961	$ 7,684	7,393
Minimum
Disclosure of detailed information about borrowings [line items]
Exit fee				0%
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity								$ 115,000
Borrowings		120,000		$ 120,000
Warrant Obligation, Fair Value	12,297	2,879		2,879
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Borrowings							$ 65,000	65,000
Gains (losses) on change in fair value of derivatives		2,822	3,913	(15,556)	(16,867)
Facility Agreement With Deerfield Partners, L.P., Tranche One | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		1,132	2,142	5,664	6,184
Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity								50,000
Borrowings								$ 50,000
Facility Agreement With Deerfield Partners, L.P., Tranche Two | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		404	819	$ 2,020	1,209
Facility Agreement With Deerfield Partners, L.P., Tranche Two | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings			$ 50,000		$ 50,000
Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Borrowings	120,000
Loan Agreement
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity	175,000
Borrowings	$ 120,000
Convertible Notes, Shares Converted	527,295
Warrants, Shares Converted, Exercise Price	$ 8.30
Loan Agreement | Maximum
Disclosure of detailed information about borrowings [line items]
Exit fee				4%
Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Warrant Obligation, Fair Value		$ 1,414		$ 1,414

Senior secured term loan faci_4

Senior secured term loan facility and warrants - Valuation of Derivative (Details)	Sep. 30, 2022 shares
Written put options (in USD per share) | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	8.30
Written put options (in USD per share) | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	8.30
Share Price (in USD per share) | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	4.82
Share Price (in USD per share) | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	10.33
Risk Free, Interest Rate | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.042
Risk Free, Interest Rate | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.029
Expected Volatility | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.80
Expected Volatility | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.87
Expected Term | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	58.5
Expected Term | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	60
Dividend Yield [Member] | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0
Dividend Yield [Member] | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0
Black-Scholes Value | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	2.68
Black-Scholes Value | Derivatives | Senior Secured Term Loan Facility, Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	7.51

Senior secured term loan faci_5

Senior secured term loan facility and warrants - Schedule of the First and Second Tranche (Details) - Senior Secured Term Loan Facility, Tranche One - USD ($) $ in Thousands	Sep. 30, 2022	Aug. 15, 2022
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 120,000
Cost
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 120,000
Cost | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings	3,957
Cost | Residual Loan
Disclosure of detailed information about borrowings [line items]
Borrowings	116,043
Transaction costs
Disclosure of detailed information about borrowings [line items]
Borrowings	7,432
Transaction costs | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings	245
Transaction costs | Residual Loan
Disclosure of detailed information about borrowings [line items]
Borrowings	7,187
Net Carrying Amount | Residual Loan
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 108,856

Convertible loans - Narrative (

Convertible loans - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
	Aug. 15, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	May 19, 2020	Apr. 24, 2020
Disclosure of detailed information about borrowings [line items]
Cash and cash equivalents, minimum quarterly balance		$ 60,000,000		$ 60,000,000
Gains (losses) on change in fair value of derivatives		4,660,000	$ 6,943,000	(25,650,000)	$ (16,279,000)
Convertible loans, derivatives		0		0		$ 37,947,000
Convertible loans, short-term		0		0		6,575,000
Proceeds from senior secured term loans, net of transaction costs				$ 114,490,000	0
Exchange Of Convertible Notes For Warrants	$ 115,000,000
Convertible Notes, Value Converted	$ 117,300,000
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	4,412,840
Warrants, Tranche Two
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	2,390,297
Minimum
Disclosure of detailed information about borrowings [line items]
Exit fee				0%
Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		1,536,000	2,961,000	$ 7,684,000	7,393,000
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity								$ 115,000,000
Borrowings		120,000,000		120,000,000
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Borrowings							$ 65,000,000	65,000,000
Gains (losses) on change in fair value of derivatives		2,822,000	3,913,000	(15,556,000)	(16,867,000)
Credit derivative, fair value	$ 7,670,000					23,226
Facility Agreement With Deerfield Partners, L.P., Tranche One | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		1,132,000	2,142,000	5,664,000	6,184,000
Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity								50,000,000
Borrowings								$ 50,000,000
Credit derivative, fair value	4,627,000					$ 14,721
Facility Agreement With Deerfield Partners, L.P., Tranche Two | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		404,000	819,000	$ 2,020,000	1,209,000
Facility Agreement With Deerfield Partners, L.P., Tranche Two | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings			$ 50,000,000		50,000,000
Gains on change in fair value of derivatives					$ 1,816,000
Loan Agreement
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity	175,000,000
Borrowings	$ 120,000,000
Convertible Notes, Shares Converted	527,295
Loan Agreement | Maximum
Disclosure of detailed information about borrowings [line items]
Exit fee				4%
Loan Agreement | Secured Overnight Financing Rate (SOFR) | Minimum
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	1%
Loan Agreement | Secured Overnight Financing Rate (SOFR) | First Five Years
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	7.50%
Loan Agreement | Secured Overnight Financing Rate (SOFR) | After First Five Years
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	9.25%
Loan Agreement | Base Rate | First Five Years
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	6.50%
Loan Agreement | Base Rate | After First Five Years
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	8.25%
Senior Secured Term Loans
Disclosure of detailed information about borrowings [line items]
Borrowings		109,200,000		$ 109,200,000
Interest expense on borrowings		$ 1,933,000		$ 1,933,000
Senior Secured Term Loans | Secured Overnight Financing Rate (SOFR)
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	14.99%

Convertible loans - Valuation o

Convertible loans - Valuation of Derivative (Details)		9 Months Ended
	May 19, 2020 $ / shares	Sep. 30, 2022 period $ / shares	Dec. 31, 2021 $ / shares period
Initial Public Offering
Disclosure of detailed information about borrowings [line items]
Offering price per share (in USD per share)	$ 19
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Conversion percentage		130%
Written put options (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		24.70	24.70
Written put options (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		28.07	28.07
Forced Conversion Price (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		67.93	67.93
Forced Conversion Price (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		77.19	77.19
Share Price (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		10.33	20.20
Share Price (in USD per share) | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		10.33	20.20
Risk Free, Interest Rate | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.032	0.010
Risk Free, Interest Rate | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.032	0.010
Expected Volatility | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.85	0.77
Expected Volatility | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.85	0.77
Expected Term | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | period		32.5	40
Expected Term | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | period		32.5	40
Dividend Yield [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0	0
Dividend Yield [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0	0
Recovery Rate [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.05	0.05
Recovery Rate [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.05	0.05
Implied Bond Yield [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.120	0.088
Implied Bond Yield [Member] | Derivatives | Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.120	0.088

Convertible loans - Interest Ex

Convertible loans - Interest Expense (Details) - Residual Loan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	$ 1,536	$ 2,961	$ 7,684	$ 7,393
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	1,132	2,142	5,664	6,184
Facility Agreement With Deerfield Partners, L.P., Tranche Two
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	$ 404	$ 819	$ 2,020	$ 1,209

Convertible loans - Change in F

Convertible loans - Change in Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	$ (4,660)	$ (6,943)	$ 25,650	$ 16,279
Facility Agreement With Deerfield Partners, L.P., Tranche One
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	(2,822)	(3,913)	15,556	16,867
Facility Agreement With Deerfield Partners, L.P., Tranche Two Prior to FDA Approval
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	0	0	0	3,454
Facility Agreement With Deerfield Partners, L.P., Tranche Two After FDA Approval
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	$ (1,838)	$ (3,030)	$ 10,094	$ (4,042)

Deerfield Warrants - Narrative

Deerfield Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 15, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of detailed information about borrowings [line items]
Warrant Obligation, Fair Value	$ 4,000
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Deerfield warrant obligation, change in fair value income		$ 9,418	$ 0	$ 9,418	$ 0
Warrant Obligation, Fair Value	$ 12,297	$ 2,879		$ 2,879
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	4,412,840
Warrants, Tranche One, Price One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	2,631,578
Warrants, Shares Converted, Exercise Price	$ 24.70
Warrants, Tranche One, Price Two
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	1,781,262
Warrants, Shares Converted, Exercise Price	$ 28.07

Deerfield Warrants - Schedule o

Deerfield Warrants - Schedule of Valuation Inputs (Details) - Deerfield Warrants	Sep. 30, 2022 $ / shares period shares
Exercise Price | Minimum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	24.70
Exercise Price | Maximum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	28.07
Black-Scholes Value | Minimum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | shares	0.69
Black-Scholes Value | Maximum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | shares	0.60
Derivatives | Forced Conversion Price (in USD per share)
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	4.82
Derivatives | Share Price (in USD per share)
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.042
Derivatives | Risk Free, Interest Rate
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.80
Derivatives | Expected Volatility
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	31.7
Derivatives | Expected Term
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | period	0

Share-based compensation - Narr

Share-based compensation - Narrative (Details) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	May 11, 2022 shares	Mar. 22, 2021 shares	Sep. 30, 2022 USD ($) shares $ / shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) shares $ / shares	Sep. 30, 2021 USD ($) shares	Jun. 30, 2022 shares	Dec. 31, 2021 shares	Nov. 30, 2019 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $			$ 14,565	$ 14,798	$ 41,781	$ 47,016
Number of shares reserved for issue under options and contracts for sale of shares							782,700
Share-based compensation expense | $			$ 14,565	14,798	$ 41,781	47,016
Number of share options outstanding in share-based payment arrangement (in shares)			9,757,225		9,757,225			6,640,200
Accrued Share Based Compensation | $			$ 220		$ 220
Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period					3 years
Share-based compensation expense | $			$ 8,193	$ 12,105	$ 27,158	$ 40,112
Contractual term					10 years
Number of instruments granted in share-based payment arrangement	1,298,700	1,867,076	14,565,000	14,798,000	42,293,000	47,016,000
Weighted-average grant-date fair value (in dollars per share) | $ / shares			$ 8.85
Awards vested and exercisable (in shares)			3,457,420		3,457,420
Weighted average strike price, vested and exercisable (in dollars per share) | $ / shares					$ 25.67
Weighted average remaining life, vested and exercisable					7 years 5 months 8 days
Share Options | Tranche One
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage					25%
Share Options | Tranche Two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage					25%
Share Options | Tranche Three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage					25%
Share Options | Tranche Four
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage					25%
Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period					3 years
Contractual term					10 years
Shares vested (in shares)					344,446
Number of instruments granted in share-based payment arrangement		570,340	6,372,000	2,693,000	15,135,000	6,904,000
Weighted average grant date fair value, granted (in USD per share) | $ / shares					$ 9.36
2019 Equity Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares			1,349,944		1,349,944				13,820,000
Share-based compensation expense | $					$ 137,759
Annual Equity Award | Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average grant date fair value, granted (in USD per share) | $ / shares					$ 14
Special Retention Award | Tranche One
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period					6 months
Special Retention Award | Tranche Two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period					1 year
Special Retention Award | Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage					50%
Weighted average grant date fair value, granted (in USD per share) | $ / shares					$ 6.93

Share-based compensation - Sche

Share-based compensation - Schedule of Number of Awards Outstanding and Weighted Average Strike Price (Details)	6 Months Ended	9 Months Ended
	Jun. 30, 2022 shares $ / shares	Sep. 30, 2022 shares $ / shares
Share-based Payment Arrangements [Abstract]
Average strike price in USD per share, At beginning of the year (in USD per share) | $ / shares	$ 27.23	$ 27.23
Fair value grant date (in USD per share) | $ / shares		12.26
Average strike price in USD per share, Forfeited (in USD per share) | $ / shares		26.71
Average strike price in USD per share, At end of the year (in USD per share) | $ / shares		$ 21.23
Number of awards, At beginning of the year (in shares) | shares	6,640,200	6,640,200
Number of awards, Granted (in shares) | shares		3,937,056
Number of awards, Forfeited (in shares) | shares		(820,031)
Number of awards, At end of the year (in shares) | shares		9,757,225
Weighted average remaining contractual life of outstanding share options	8 years 8 months 12 days	8 years 4 months 20 days
Weighted average remaining contractual life of granted share options		9 years 4 months 20 days

Share-based compensation expens

Share-based compensation expense - Schedule of Fair Value Assumptions For Options Granted (Details) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($) shares $ / shares	Sep. 30, 2021 USD ($) shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected dividends | $	$ 0	$ 0
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price (in USD per share)	$ 4.83	$ 4.83
Strike price (in USD per share)	$ 4.83	$ 4.83
Expected volatility	70%	70%
Award life | shares	6.08	6.08
Risk-free interest rate	261%	1.46%
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price (in USD per share)	$ 8.54	$ 19.69
Strike price (in USD per share)	$ 8.54	$ 19.69
Expected volatility	80%	80%
Risk-free interest rate	3.77%	3.77%

Share-based compensation - Sc_2

Share-based compensation - Schedule of Other Equity Instruments Outstanding (Details) - Restricted Share Units (RSU)	9 Months Ended
	Sep. 30, 2022 shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of awards, beginning of period (in shares) | shares	663,055
Number of awards, granted (in shares) | shares	2,129,991
Number of awards, vested (in shares) | shares	(344,446)
Number of awards, forfeited (in shares) | shares	(135,416)
Number of awards, end of period (in shares) | shares	2,313,184
Weighted average grant date fair value, beginning balance (in USD per share) | $ / shares	$ 30.95
Weighted average grant date fair value, granted (in USD per share) | $ / shares	9.36
Weighted average grant date fair value, vested (in dollars per share) | $ / shares	30.54
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	21.10
Weighted average grant date fair value, ending balance (in USD per share) | $ / shares	$ 11.71

Share-based compensation - Sc_3

Share-based compensation - Schedule of Share-based Compensation Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	$ 14,565	$ 14,798	$ 41,781	$ 47,016
Incentive Plan 2014 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Tax expense from share-based payment transactions with employees	0	0		0
2019 Equity Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Tax expense from share-based payment transactions with employees			(512)
2019 Equity Incentive Plan | Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase in reserve of share-based payments	8,193	12,105	27,158	40,112
2019 Equity Incentive Plan | Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase in reserve of share-based payments	$ 6,372	$ 2,693	$ 15,135	$ 6,904

Related parties - Narrative (De

Related parties - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) subsidiary	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Auven Therapeutics Holdings, L.P.
Disclosure of transactions between related parties [line items]
Number of subsidiaries provide services to | subsidiary			3
Services provided to, related party transactions	$ 0	$ 1	$ 1	$ 3
Overland ADCT BioPharma
Disclosure of transactions between related parties [line items]
Services provided to, related party transactions	818	$ 812	2,014	$ 812
Supplies Provided, Related Party Transactions			45
Amounts receivable, related party transactions	$ 1,695		$ 1,695		$ 789

Related parties - Schedule of K

Related parties - Schedule of Key Management Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party [Abstract]
Salaries and other short-term employee costs	$ 2,177	$ 2,279	$ 6,383	$ 6,280
Pension costs	47	98	251	338
Share-based compensation expense	8,011	6,448	20,460	20,269
Other compensation	7	12	25	34
Key management compensation	$ 10,242	$ 8,837	$ 27,119	$ 26,921

Loss per share (Details)

Loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share [abstract]
Net loss	$ (50,608)	$ (71,549)	$ (131,643)	$ (195,645)
Weighted average number of ordinary shares outstanding	78,372,680	76,739,770	77,374,388	76,730,117
Net loss per share, basic (in USD per share)	$ (0.65)	$ (0.93)	$ (1.70)	$ (2.55)
Net loss per share, diluted (in dollars per share)	$ (0.65)	$ (0.93)	$ (1.70)	$ (2.55)

Loss per share -Schedule of Pot

Loss per share -Schedule of Potentially Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share [line items]
Potentially dilutive securities	14,668,591	11,334,313	11,189,349	9,893,089
Equity Incentive Plan 2019 - Share Options
Earnings per share [line items]
Potentially dilutive securities	9,725,094	6,326,518	8,625,415	5,759,262
Equity Incentive Plan 2019 - RSUs
Earnings per share [line items]
Potentially dilutive securities	2,473,429	594,955	1,731,530	451,761
Conversion of the principal amount of convertible loans into the Company’s common shares
Earnings per share [line items]
Potentially dilutive securities	0	4,412,840	0	3,682,066
Outstanding Warrants
Earnings per share [line items]
Potentially dilutive securities	2,470,068	0	832,404	0

Events after the reporting da_2

Events after the reporting date (Details) - USD ($) $ in Millions		1 Months Ended
	Jan. 18, 2022	Jul. 31, 2022	Jan. 31, 2022
Disclosure of non-adjusting events after reporting period [line items]
Proceeds From License Agreement	$ 30
License Agreement, Milestone Payments	$ 205
License Agreement
Disclosure of non-adjusting events after reporting period [line items]
Proceeds From License Agreement		$ 55
License Agreement, Milestone Payments		$ 382.5
License Agreement, Percent Of Clinical Trial Costs Paid		25%
License Agreement, Capped Contribution		$ 10
Application Approval
Disclosure of non-adjusting events after reporting period [line items]
License Agreement, Milestone Payments			$ 50

Deferred royalty obligation (De

Deferred royalty obligation (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Aug. 25, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement					$ 325,000,000
Proceeds From Royalty Purchase Agreement, Gross	$ 225,000,000	$ 225,000,000
Royalty Obligation, Transaction Costs	6,998,000
Royalty Obligation, Interest	6,752,000		$ 17,356,000
Royalty Purchase Additional Proceeds Eligibility		$ 100,000,000
Deferred Royalty Obligation			$ 221,144,000	$ 225,477,000		$ 0
Royalty Purchase Agreement, Effective Interest Rate			10%
Royalty Obligation, Payments	213,000		$ 5,656,000
Royalty Obligation, Financial Expense Cumulative Catch-Up Adjustment	$ 936,000		$ 16,033,000

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 15, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure of reserves within equity [line items]
Issuance of shares, Deerfield exchange agreement, net of transaction costs		$ 19,834		$ 19,834
Loss on extinguishment		(42,114)	$ 0	(42,114)	$ 0
Proceeds from equity issuance, net of transaction costs				6,192	$ 0
Warrants, Tranche Two
Disclosure of reserves within equity [line items]
Convertible Notes, Shares Converted	2,390,297
Purchasers
Disclosure of reserves within equity [line items]
Number of shares issued	733,568
Sale Of Stock, Price Per Share	$ 8.52
Proceeds from equity issuance, net of transaction costs	$ 6,100
Share Premium
Disclosure of reserves within equity [line items]
Issuance of shares, Deerfield exchange agreement, net of transaction costs		$ 19,640		$ 19,640