ADC Therapeutics (ADCT) 20-F 15 Mar 23 2022 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2022 shares
Entity Addresses [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39071
Entity Registrant Name	ADC Therapeutics SA
Entity Incorporation, State or Country Code	V8
Entity Address, Address Line One	Biopôle
Entity Address, Address Line Two	Route de la Corniche 3B
Entity Address, Postal Zip Code	1066
Entity Address, Country	CH
Entity Address, City or Town	Epalinges
Title of 12(b) Security	Common Shares, par value CHF 0.08 per share
Trading Symbol	ADCT
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	80,642,527
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001771910
Entity Filer Category	Accelerated Filer
Business Contact
Entity Addresses [Line Items]
Entity Address, Address Line One	430 Mountain Avenue, 4th Floor
Entity Address, Postal Zip Code	07974
Entity Address, State or Province	NJ
Contact Personnel Name	Jose “Pepe” Carmona
City Area Code	908
Local Phone Number	546-5556
Entity Address, City or Town	Murray Hill

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	1358
Auditor Name	PricewaterhouseCoopers SA
Auditor Location	Lausanne, Switzerland

Consolidated Statement of Opera

Consolidated Statement of Operation - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 209,908	$ 33,917	$ 0
Cost of product sales	(4,579)	(1,393)	0
Research and development expenses	(187,898)	(158,002)	(142,032)
Selling and marketing expenses	(69,052)	(64,780)	(22,101)
General and administrative expenses	(72,006)	(71,462)	(55,130)
Total operating expense	(333,535)	(295,637)	(219,263)
Loss from operations	(123,627)	(261,720)	(219,263)
Other income (expense)
Financial income	17,970	66	832
Financial expense	(36,924)	(18,340)	(4,926)
Non-operating (expense) income	(12,080)	28,489	(22,606)
Total other (expense) income	(31,034)	10,215	(26,700)
Loss before taxes	(154,661)	(251,505)	(245,963)
Income tax (expense) benefit	(1,139)	21,479	(327)
Net loss	(155,800)	(230,026)	(246,290)
Net loss attributable to:
Owners of the parent	$ (155,800)	$ (230,026)	$ (246,290)
Net loss per share
Basic net loss per share (in USD per share)	$ (1.99)	$ (3)	$ (3.77)
Diluted net loss per share (in USD per share)	$ (1.99)	$ (3)	$ (3.77)
Product Revenue
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 74,908	$ 33,917	$ 0
Contract Revenue
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 135,000	$ 0	$ 0

Consolidated Statement of Compr

Consolidated Statement of Comprehensive (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit or loss [abstract]
Net loss	$ (155,800)	$ (230,026)	$ (246,290)
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plan	3,715	(587)	(305)
Total items that will not be reclassified to profit or loss	3,715	(587)	(305)
Items that may be reclassified to profit or loss
Currency translation differences	(539)	(62)	176
Total items that may be reclassified to profit or loss	(539)	(62)	176
Other comprehensive loss	3,176	(649)	(129)
Total comprehensive loss	(152,624)	(230,675)	(246,419)
Attributable to:
Owners of the parent	$ (152,624)	$ (230,675)	$ (246,419)

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 326,441	$ 466,544
Accounts receivable, net	72,971	30,218
Inventory	18,564	11,122
Other current assets	28,039	17,298
Total current assets	446,015	525,182
Non-current assets
Property, plant and equipment	3,261	4,066
Right-of-use assets	6,720	7,164
Intangible assets	14,360	13,582
Interest in joint venture	31,152	41,236
Deferred tax asset	26,757	26,049
Other long-term assets	903	693
Total non-current assets	83,153	92,790
Total assets	529,168	617,972
Current liabilities
Accounts payable	12,351	12,080
Other current liabilities	73,035	50,497
Lease liabilities, short-term	1,097	1,029
Current income tax payable	0	3,754
Total current liabilities	98,957	73,935
Non-current liabilities
Convertible loans, derivatives	0	37,947
Warrant obligations	1,788	0
Deferred royalty obligation, long-term	212,353	218,664
Deferred gain of joint venture	23,539	23,539
Lease liabilities, long-term	6,564	6,994
Defined benefit pension liabilities	0	3,652
Total non-current liabilities	341,484	377,949
Total liabilities	440,441	451,884
Equity attributable to owners of the parent
Share capital	7,312	6,445
Share premium	1,007,452	981,827
Treasury shares	(679)	(128)
Other reserves	155,683	102,646
Cumulative translation adjustments	(356)	183
Cumulative translation adjustments	(1,080,685)	(924,885)
Total equity attributable to owners of the parent	88,727	166,088
Total liabilities and equity	529,168	617,972
Senior secured term loans, short-term
Current liabilities
Short-term loans	12,474	0
Non-current liabilities
Long-term loans	97,240	0
Convertible loans, short-term
Current liabilities
Short-term loans	0	6,575
Non-current liabilities
Long-term loans	$ 0	$ 87,153

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands	Total	ATM Facility	Share capital	Share capital ATM Facility	Share premium	Share premium ATM Facility	Other reserves	Treasury shares	Treasury shares ATM Facility	Cumulative translation adjustment	Accumulated losses
Equity, beginning balance at Dec. 31, 2019	$ 111,156		$ 4,361		$ 549,922		$ 5,473	$ (100)		$ 69	$ (448,569)
Total comprehensive loss	(246,419)						(305)			176	(246,290)
Net loss	(246,290)										(246,290)
Other comprehensive loss	(129)						(305)			176
Translation adjustment	176									176
Remeasurements of defined benefit plan	(305)						(305)
Total transactions with owners	470,768		1,953		431,134		37,585	96
Shares surrendered to redeem share purchase plan promissory notes	0				11,208			(11,208)
Issuance of shares through capitalization of reserves	0		393		(393)
Issuance of shares to be held as treasury shares	0		34					(34)
Grant of shares to settle 2014 incentive plan awards	0				(29)			29
Issuance of shares at initial public offering	232,668		1,007		231,661
Sale of shares under greenshoe option	34,900				23,591			11,309
Transaction costs, initial public offering and greenshoe option	(23,355)				(23,355)
Issuance of shares at follow-on offering	204,000		519		203,481
Transaction costs, follow-on offering	(15,084)				(15,084)
Exercise of options	54				54
Share-based compensation expense	37,585						37,585
Equity, ending balance at Dec. 31, 2020	335,505		6,314		981,056		42,753	(4)		245	(694,859)
Total comprehensive loss	(230,675)						(587)			(62)	(230,026)
Net loss	(230,026)										(230,026)
Other comprehensive loss	(649)						(587)			(62)
Translation adjustment	(62)									(62)
Remeasurements of defined benefit plan	(587)						(587)
Total transactions with owners	61,258		131		771		60,480	(124)
Issuance of shares to be held as treasury shares	0		131					(131)
Exercise of options	778				771			7
Share-based compensation expense	60,480						60,480
Equity, ending balance at Dec. 31, 2021	166,088		6,445		981,827		102,646	(128)		183	(924,885)
Total comprehensive loss	(152,624)						3,715			(539)	(155,800)
Net loss	(155,800)										(155,800)
Other comprehensive loss	3,176						3,715			(539)
Translation adjustment	(539)									(539)
Remeasurements of defined benefit plan	3,715						3,715
Total transactions with owners	75,263		867		25,625		49,322	(551)
Share issue related cost	(31)
Issuance of shares to be held as treasury shares	0	$ (23)	254	$ 613		$ (23)		(254)	$ (613)
Exercise of options	0				(62)			62
Share-based compensation expense	49,322						49,322
Equity, ending balance at Dec. 31, 2022	88,727		$ 7,312		1,007,452		$ 155,683	(679)		$ (356)	$ (1,080,685)
Issue Of Equity Through Exchange Agreement	19,834				19,640			194
Issue Of Equity Through Purchase Agreement	$ 6,130				$ 6,070			$ 60

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash used in operating activities
Loss for the year	$ (155,800,000)	$ (230,026,000)	$ (246,290,000)
Adjustments for non-monetary items:
Share-based compensation expense	49,322,000	60,480,000	37,585,000
Impairment of Assets	2,704,000	0	0
Depreciation of property, plant and equipment	1,017,000	920,000	774,000
Amortization of intangible assets	118,000	129,000	47,000
Depreciation of right-of-use assets	1,193,000	1,581,000	1,151,000
Gain from reversal of inventory impairment charges	0	(8,100,000)	0
Share of results in joint venture	10,084,000	6,672,000	(24,368,000)
Deferred income taxes	(708,000)	(26,049,000)	0
Convertible loans, derivatives, (decrease) increase in fair value	(25,650,000)	(34,893,000)	45,411,000
Change in defined benefit pension liability	108,000	(365,000)	276,000
Warrant obligations, decrease in fair value	(14,466,000)	0	0
Impairment of intangible assets	226,000	0	216,000
Financial income	(17,970,000)	(66,000)	(832,000)
Financial expense	36,733,000	18,117,000	4,820,000
Loss on extinguishment	42,114,000	0	0
Exchange differences	(107,000)	(185,000)	476,000
Operating loss before working capital changes	(71,082,000)	(211,785,000)	(180,734,000)
Increase in accounts receivable, net	(42,753,000)	(30,218,000)	0
Increase in inventory	(8,964,000)	(3,022,000)	0
Increase in other current assets	(3,549,000)	(6,356,000)	(4,505,000)
Increase in trade accounts payable	310,000	6,798,000	1,921,000
Increase in income taxes	1,848,000	4,570,000	327,000
Increase in other liabilities and other payables	20,098,000	12,518,000	14,946,000
Cash used in operating activities	(104,092,000)	(227,495,000)	(168,045,000)
Interest received	1,948,000	56,000	797,000
Interest paid	(10,370,000)	(5,280,000)	(1,557,000)
Interest expense on lease obligations	191,000	225,000	105,000
Payments made under royalty financing transaction	(10,998,000)	(213,000)	0
Tax paid	(13,473,000)	(671,000)	(29,000)
Net cash used in operating activities	(136,794,000)	(233,378,000)	(168,729,000)
Cash used in investing activities
Payment for purchases of property, plant and equipment	(577,000)	(3,430,000)	(801,000)
Payment for purchases of intangible assets	(1,721,000)	(2,946,000)	(2,008,000)
Payment for deposits	(210,000)	(297,000)	(19,000)
Net cash used in investing activities	(2,508,000)	(6,673,000)	(2,828,000)
Cash (used in) provided by financing activities
Proceeds from senior secured term loans, net of transaction costs	112,813,000	0	0
Convertible loans exchange	(118,304,000)	0	0
Share capital increases, transaction costs	(221,000)	0	0
Proceeds from convertible loans, net of transaction costs	0	49,591,000	62,898,000
Proceeds from deferred royalty transaction, net of transaction costs	0	218,002,000	0
Proceeds from the exercise of stock options	0	778,000	54,000
Principal portion of lease obligations payments	(1,011,000)	(977,000)	(1,144,000)
Net cash (used in) provided by financing activities	(593,000)	267,394,000	494,966,000
Net increase (decrease) in cash and cash equivalents	(139,895,000)	27,343,000	323,409,000
Exchange (losses)/gains on cash and cash equivalents	(208,000)	6,000	235,000
Cash and cash equivalents at beginning of year	466,544,000	439,195,000	115,551,000
Cash and cash equivalents at end of year	326,441,000	466,544,000	439,195,000
Supplemental Non-Cash Investing Information
Issuance of shares, Deerfield exchange agreement	19,835,000	0	0
Capital expenditures and intangible asset acquisitions recorded in Accounts payable and Other current liabilities	0	593,000	220,000
Equity Issuance
Cash (used in) provided by financing activities
Proceeds from public offering of common shares, net of transaction costs	6,130,000	0	0
Initial Public Offering
Cash (used in) provided by financing activities
Proceeds from public offering of common shares, net of transaction costs	$ 0	$ 0	$ 433,158,000

Corporate Information

Corporate Information	12 Months Ended
	Dec. 31, 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. As of December 31, 2022, 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 cancer cells to which the ADC attaches. ADCs have extensive potential therapeutic applications in cancer. These Group consolidated financial statements were authorized for issue by the Board of Directors on March 15, 2023.

Basis of preparation

Basis of preparation	12 Months Ended
	Dec. 31, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Basis of preparation	Basis of preparation (i) Compliance with International Financial Reporting Standards The ADCT Group consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). As of December 31, 2022, the financial statements are presented in thousand dollars (KUSD). Prior to December 31, 2021, individual components of Non-operating (expense) income were reported separately within the consolidated statement of operations. Prior periods have been recast to conform to the current period presentation. See note 10, “Non-operating (expense) income” for further information. (ii) Historical Cost Convention The consolidated financial statements have been prepared under the historical cost convention, except for the defined benefit pension liabilities, where plan assets are measured at fair value. The embedded derivative conversion feature associated with the first and second tranche of convertible loans was measured at fair value for the year ended December 31, 2021, December 31, 2020 and up until the loans were exchanged on August 15, 2022. See note 24, “Convertible loans” for further discussion. The warrant obligations associated with the senior secured term loan facility and Deerfield warrants entered into on August 15, 2022 were measured at fair value for the year ended December 31, 2022. See note 23, “Senior secured term loan facility and warrants” and note 25, “Deerfield warrants” for additional information. (iii) 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 2020 fiscal year, the Company issued common shares through an initial public and follow-on offering (see 2(v) and 2(vi) within this note) and the issuance of convertible loans (see note 24, “Convertible loans”). During the 2021 fiscal year, the Group entered into a royalty purchase agreement (see note 27, “Deferred royalty obligation”). 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 23, "Senior secured term loan facility and warrants", note 24, "Convertible loans" and note 28, "Share capital" 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 December 31, 2022, the Group’s cash and cash equivalents amounted to USD 326.4 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 consolidated financial statements and, as a result, is presenting these consolidated financial statements of the Group on a going concern basis. (iv) Share consolidation On April 24, 2020, the Company effected a five-to-four share consolidation of its outstanding shares (see note 28, “Share capital”). Accordingly, all share and per share amounts for all periods presented in these consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this share consolidation. (v) Initial Public Offering (IPO) On May 19, 2020, the Company completed an IPO on the New York Stock Exchange (“NYSE”) in which it issued and sold an aggregate of 14,082,475 common shares at USD 19.00 per share, which included 1,836,844 common shares issued and sold pursuant to the underwriters’ exercise in full of their option to purchase additional common shares. The gross proceeds from the IPO were USD 267.6 million, and net proceeds were USD 244.2 million after deducting underwriting discounts and commissions as well as fees and expenses payable by the Company. The IPO resulted in a gross increase of USD 255.3 million in the Company’s share premium account prior to transaction costs associated with the IPO share issuance of USD 4.7 million and underwriting discounts and commissions of USD 18.7 million, both of which were charged directly against the Company’s share premium account. Further details are contained in note 28, “Share capital.” (vi) Follow-On Public Offering On September 28, 2020, the Company completed a public offering on the NYSE in which it issued and sold 6,000,000 common shares at USD 34.00 per share. The gross proceeds of the public offering were USD 204.0 million, and net proceeds of USD 188.9 million after deducting underwriting discounts and commissions as well as fees and expenses payable by the Company. The public offering resulted in a gross increase of USD 203.5 million in the Company’s share premium account prior to transaction costs associated with the public offering share issuance of USD 2.9 million and underwriting discounts and commissions of USD 12.2 million, both of which were charged directly against the Company’s share premium account. Further details are contained in note 28, “Share capital.” (vii) Open Market Sales Agreement On June 4, 2021, the Company entered into an open market sale agreement with Jefferies LLC (“Jefferies”), to sell its common shares from time to time through an “at the market” offering program (the “ATM Facility”). The ATM Facility provides the Company the opportunity to sell its common shares with an aggregate offering price of up to USD 200.0 million. For the year ended December 31, 2022, there have been no shares sold under the ATM Facility. The Company capitalizes transaction costs within Other current assets in the Company’s consolidated balance sheet when costs are incurred associated with the ATM Facility at inception. If and when the Company sells shares under the ATM, capitalized transaction costs will be offset against the sale proceeds and will be recorded as a reduction of share premium within the Company’s consolidated balance sheet. If the Company determines that it is not probable that shares will be sold under the ATM Facility by the end of a quarter, the Company will write-off capitalized transaction costs incurred during that respective quarter in the consolidated statement of operations. The Company has KUSD 31 of capitalized transaction costs within Other current assets in connection with the establishment of the ATM Facility as of December 31, 2022, which will be offset against the sales proceeds from the initial sale of shares under the ATM Facility, if and when such sale is to occur. (viii) 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 23, “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 24, “Convertible loans,” note 25, “Deerfield warrants” and note 28 “Share capital” 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 28, “Share capital” for further information on this transaction. (ix) Share Subscription Agreement During the second quarter of 2021, ADCT issued 1,500,000 common shares to ADCT America pursuant to a share subscription agreement and immediately repurchased these shares to hold as treasury shares for purposes of administering the Company's long-term incentive program. In addition, during the third quarter of 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. 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. During the fourth quarter of 2022, the Company issued 7,648,081 common shares to ADCT America pursuant to a subscription agreement and immediately repurchased these shares as treasury shares at par value to be used in connection with the ATM Facility. See note 28, “Share capital” for further information. As of December 31, 2022, the Company held 8,399,419 treasury shares. (x) COVID – 19 The Group continues to monitor the COVID-19 pandemic and its impact to operations. During the height of the COVID-19 pandemic, the Group commercialized ZYNLONTA using hybrid launch plans. The Company continued to see an increase in face-to-face interactions with physicians in fiscal year 2022, 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. 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 and has undertaken certain risk mitigation measures. 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.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Significant Accounting Policies	Significant accounting policiesThe principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 3.1. Consolidation The annual closing date of the individual financial statements is December 31. Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. All intercompany transactions have been eliminated. 3.2. Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the Group entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The consolidated financial statements are presented in US dollars (“USD” or “Dollars”), which is the Company’s functional and Group’s presentation currency. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in consolidated statement of operation. All foreign exchange gains and losses are presented in the consolidated statement of operation within “Exchange differences”. Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; (ii) income and expenses for each consolidated statement of operation are translated at monthly average exchange rates; and (iii) all resulting exchange differences are recognized in other comprehensive loss, under “Cumulative translation adjustments”. 3.3. Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with external financial institutions and other short-term highly liquid investments with original maturities to the Company of three months or less. They are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Any bank overdrafts are not netted against cash and cash equivalents but are shown as part of current liabilities on the consolidated balance sheet. 3.4. Accounts receivable Accounts receivable arise from license agreements and product sales and consists of amounts due from customers, net of customer allowances for chargebacks, product returns and estimated credit losses. Upon the launch of ZYNLONTA, the Company’s contracts with customers had initial payment terms that ranged from 30 to 150 days. 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 to 90 days. As of December 31, 2022, Accounts receivable included the USD 50 million in license revenue for the approval of the Marketing Authorisation Application by the European Commission for ZYNLONTA in third-line DLBCL. When determining customer allowances for estimated credit losses, the Company analyzes accounts that are past due, the creditworthiness of its customers, current economic conditions and, when sufficient historical data becomes available, actual credit losses incurred by the Company. As of December 31, 2022, the Company did not record an allowance for expected credit losses as it was considered immaterial. 3.5. Inventory Prior to receiving FDA approval of ZYNLONTA, the Company had written down inventory costs relating to the manufacture of ZYNLONTA to a net realizable value of zero. The Company believed that capitalization of inventory costs associated with certain products prior to regulatory approval of such products, or for inventory produced in new production facilities, was only appropriate when management considered it highly probable that pre-approval inventory costs would be recoverable through future sales of the drug product. The determination to capitalize was based on the particular facts and circumstances related to the expected regulatory approval of the product or production facility being considered and, accordingly, the time frame within which the determination was made varied from product to product. The impairment charges were recorded as Research and development (“R&D”) expenses in the Company’s consolidated statement of operation. Upon the receipt of FDA approval for ZYNLONTA during the year ended December 31, 2021, the Company reversed KUSD 8,100 of previously recorded impairment charges. The reversal of previously recorded impairment charges was based on a number of factors existing at that time, including the existence of inventory on hand and estimated demand, as well as expiration dating. The reversal of impairment charges was recorded as a gain to R&D expenses in the Company’s consolidated statement of operation. For the year ended December 31, 2022, the Company designated certain capitalized pre-approval ZYNLONTA inventory for R&D use and recorded a charge to R&D expenses, which was partially offset by a reversal of previously recorded impairment charges. The Company recorded an expense to R&D in the Company’s consolidated statement of operation for the year ended December 31, 2022 of KUSD 75. Inventory of ZYNLONTA is stated at the lower of cost or net realizable value with costs determined on a first-in, first-out basis. The Company assesses the recoverability of capitalized inventory during each reporting period and will write down excess or obsolete inventory to its net realizable value in the period in which the impairment is identified within Cost of product sales in the consolidated statement of operation. See note 9, “Operating expenses” for further information. Included in inventory of ZYNLONTA are materials used in the production of preclinical and clinical products, which are charged to R&D expenses when consumed. The Company will continue to assess the likelihood that inventory costs associated with its other drug product candidates are recoverable through future sales of such product candidates to determine if and when such costs should be capitalized as inventory or be expensed to R&D expenses. The assessment of whether or not the product is considered highly probable to be saleable will be made on a quarterly basis and includes, but is not limited to, how far a particular product or facility has progressed along the approval process, any known safety or efficacy concerns, potential labeling restrictions and other impediments. If it is determined that inventory costs associated with a product candidate are not highly probable to be recovered through future sales, the Company would record such costs to R&D expenses. See note 14, “Inventory” for further information. 3.6. Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated using the straight-line method to reduce the cost of each asset to its residual value over its estimated useful life, as follows: Leasehold improvements 3 to 10 years Laboratory equipment 5 years Office equipment 5 years Hardware 3 years See note 15, “Property, plant and equipment” for further information. 3.7. Intangible assets Licenses Licenses acquired are capitalized as intangible assets at historical cost. Licenses with definite-useful lives are amortized over their useful lives, which are determined on a 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. Prior to regulatory and marketing approval, licenses are treated as indefinite-lived assets and not amortized. These licenses are tested annually for impairment in the last quarter of each fiscal year and more frequently if events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Prior to regulatory and marketing approval, impairment of indefinite-lived licenses is charged to R&D expenses. Subsequent to regulatory and marketing approval, amortization of licenses will be charged to Cost of product sales over the licenses’ estimated useful lives. The useful life of definite-lived intangible assets will depend upon the legal term of the individual patent in the country in which the patent is obtained. In determining the useful life, the Company utilizes the last-to-expire period of exclusivity (primary patent or regulatory approval) related to the primary marketed drug product. The Company may be able to obtain a patent term extension. However, the Company will only consider the inclusion of an extension period to the extent the Company believes it is highly probable of being granted. See note 17, “Intangible assets” for further information. Internally generated intangible assets Internal R&D costs are fully charged to R&D expenses in the period in which they are incurred. The Group considers that regulatory and other uncertainties inherent in the development of new products preclude the capitalization of internal development expenses as an intangible asset until marketing approval from a regulatory authority is obtained in a major market such as the United States, the European Union or China. Payments made to third parties, such as contract R&D organizations in compensation for subcontracted R&D, that are deemed not to transfer intellectual property to ADCT are expensed as internal R&D expenses in the period in which they are incurred. Such payments are only 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. These internally generated intangible assets are recorded as an indefinite-lived intangible asset until regulatory approval is achieved and/or commercial launch. At that point, the asset will become a definite-lived intangible asset and the Company will commence amortization of the asset based on a systematic and rational approach. See note 17, “Intangible assets” for further information. 3.8. Investments in joint ventures A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. An investment in a joint venture is accounted for using the equity method from the date on which the investee becomes a joint venture. Under the equity method, an investment in a joint venture is recognized initially in the consolidated balance sheet at cost and adjusted thereafter to recognize the Company’s share of the profit or loss, other comprehensive income or loss of the joint venture, distributions from the joint venture and other adjustments to the Company’s proportionate interest in the joint venture. The Company’s initial investment is recorded as an Interest in joint venture in the consolidated balance sheet. The Company’s proportionate share of net income or losses of equity investments is included within Share of results with joint venture in the consolidated statement of operation. 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 below, 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. In connection with the Company’s initial investment, the gain resulting from the transaction was only recognized to the extent of the unrelated investors’ equity interest in the joint venture, which resulted in a deferred gain for a portion of the Company’s initial investment. The Company will begin to recognize the deferred gain upon the commercialization of any or all the licensed intellectual property by the joint venture. The deferred gain will be recognized over the estimated commercialization period in which a licensed product is developed and approved using a systematic approach that approximates the pattern of consumption of the licensed intellectual property by the joint venture. Investments accounted for under the equity method are assessed for potential impairment on a regular basis based on qualitative factors. See note 18, “Interest in joint venture” for further information. 3.9. Impairment of non-financial assets Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows, adjusted for the risks specific to each asset, are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the general risks affecting the pharmaceutical industry. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash flows of other assets (“cash-generating units”). Impairment losses are recognized in the consolidated statement of operation. Prior impairments of non-financial assets are reviewed for possible reversal of the impairment at each reporting date. 3.10. Employee benefits Employee Benefit Programs Group companies operate defined benefit and defined contribution pension schemes in accordance with the local conditions and practices in the countries in which they operate. The defined benefit schemes are generally funded through payments to insurance companies or trustee-administered funds, determined by periodic actuarial calculations. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity (a fund) and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. However, as is the case with many Swiss pension plans, although the amount of ultimate pension benefit is not defined, certain legal obligations of the plan nevertheless create constructive obligations on the employer to pay further contributions to fund an eventual deficit. This results in the plan being accounted for as a defined benefit plan. The liability recognized in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity that approximate the terms of the related pension obligation. The current service cost of the defined benefit plan, recognized in the consolidated statement of operation in employee benefit expenses, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current year. Past service costs, resulting from a plan amendment or curtailment, are recognized immediately in the consolidated statement of operation. The net interest cost is calculated by applying the discount rate to the net balance of the present value of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the consolidated statement of operation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity within the consolidated statement of other comprehensive loss in the period in which they arise. For defined contribution plans, the company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. Once the contributions have been paid, the company has no further payment obligations. The contributions are recognized as employee benefit expenses in the consolidated statement of operation. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. See note 22, “Pension obligations” for further information. Share-based compensation expense The fair value of shares or options granted, respectively, under share purchase or share option plans is recognized as an employee share-based compensation expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the shares or options granted: – including any market and other performance conditions; – excluding the impact of any service and non-market performance vesting conditions; and – including the impact of any non-vesting conditions. The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the entity revises its estimate of the number of options that are expected to vest based on the non-market vesting and service conditions. It recognizes the impact of the revision to original estimate, if any, within the consolidated statement of operation, with a corresponding adjustment to equity. The proceeds received upon the exercise of options are net of any directly attributable transaction costs and are credited directly to equity. See note 26, “Share-based compensation expense” for further information. 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 until the shares are purchased by the participant at the end of the offering period. See note 26, “Share-based compensation” for further information. 3.11. Share capital and share premium Share capital The Company has issued one class of common shares, which is classified as equity (see note 28, “Share capital”). Share premium Amounts of contribution in excess of par value are accounted for as share premium. Share premium also arises from additional capital contributions from shareholders. Incremental costs directly attributable to equity transactions such as the issue of new capital shares are shown in equity as a deduction, net of tax, from the proceeds within share premium. Transaction costs that relate to equity and non-equity transactions are allocated to those transactions using a basis of allocation that is rational and a consistent methodology with previous transactions. 3.12. Treasury shares Treasury shares are recognized at acquisition cost and deducted from shareholders’ equity at the time of acquisition, until they are cancelled. Where such shares are subsequently sold, any consideration received is included in shareholders’ equity. 3.13. Leases This policy concerns instances where a Group company is the lessee. Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and the finance cost. The finance cost is charged to the consolidated statement of operation over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right-of-use assets are measured at cost comprising the following: – the amount of the initial measurement of lease liability; – any lease payments made at or before the commencement date less any lease incentives received; – any initial direct costs; and – restoration costs. The lease term is considered to be the non-cancellable period of a lease, together with both: – periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; and – periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. Assumptions as to whether the Company is reasonably likely to exercise any extension or termination options have been individually assessed based on the Company’s plans. The policy of recognizing right-of-use assets and lease liabilities is not applied to short-term (under 12 months) or low value leases. For deferred tax purposes, the Group considers the net effect of temporary differences arising from the right-of-use asset and the lease liabilities. See note 16, “Leases” for further information. 3.14. Deferred royalty obligation On August 25, 2021, the Company entered into a royalty purchase agreement with certain entities managed by HealthCare Royalty Management, LLC (HCR). The Company evaluated the terms of the royalty purchase agreement and concluded that the features of the investment amount are similar to those of a debt instrument. Accordingly, the Company accounted for the initial cash received as debt, less transaction costs, and will subsequently account for the value of the debt at amortized cost. The amounts received by the Company will be accreted to the total estimated amount of the royalty payments necessary to extinguish the Company’s obligation under the agreement, which will be recorded as interest expense. The carrying value of the debt will decrease for royalty payments made to HCR based on actual net sales and licensing revenue. The Company must 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 will record a cumulative catch-up adjustment to the deferred royalty obligation. The adjustment to the carrying amount is recognized in earnings as an adjustment to Financial income (expense) in the period in which the change in estimate occurred. See note 27, “Deferred royalty obligation” for further information. 3.15. Convertible loans The Company entered into a USD 115.0 million Facility Agreement (the “Facility Agreement”) on April 24, 2020, pursuant to which Deerfield agreed to extend senior secured convertible term loans to the Company in two separate disbursements: (i) an initial disbursement of convertible loans in the amount of USD 65.0 million upon the completion of the IPO, and satisfaction of certain other conditions (the “first tranche”) and (ii) a subsequent disbursement of convertible loans in the amount of USD 50.0 million upon the receipt of regulatory approval for ZYNLONTA, and satisfaction of certain other conditions (the “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 loans 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. Accounting for the first and second tranches On May 19, 2020, the Company received the first tranche of convertible loans in the amount of USD 65.0 million upon completion of the IPO. Prior to the exchange, these convertible loans were recognized as a hybrid financial instrument and accounted for as two separate components: (i) a loan and (ii) an embedded conversion option derivative. (i) The embedded conversion option derivative was initially measured at fair value and was subsequently remeasured to fair value at each reporting date up until the exchange occurred. Under IAS 32, this derivative could have been classified as a component of equity only if in all cases the contract would be settled by the Company delivering a fixed number of its own equity instruments in exchange for a fixed amount of cash or debt redemption. However, the agreement foresees, in the event of a major transaction, the payment of “make-whole” amounts that would have to be computed in the light of the circumstances and are therefore not fixed. As a result, the derivative was presented in the balance sheet as a liability and classified as non-equity in accordance with IFRS 9 and IAS 32. Prior to the exchange, changes in the fair value (gains or losses) of the derivative at the end of each period were recorded in the consolidated statement of operation. (ii) The convertible loan’s initial fair value was the residual amount of the consideration received, net of attributable costs, after separating out the fair value of the embedded conversion option derivative. The loan was subsequently measured at its amortized cost in accordance with IFRS 9. Prior to the exchange, it was presented as a financial liability in the consolidated balance sheet. On May 17, 2021, the Company drew down the second tranche of convertible loans in the amount of USD 50.0 million upon the receipt of FDA approval of ZYNLONTA. Prior to the exchange, these convertible loans were recognized as a hybrid financial instrument and accounted for as two separate components: (i) a loan and (ii) an embedded conversion option derivative. The Company accounted for the two separate components similar to the first tranche of convertible loans. Prior to the drawdown of the second tranche, the Company accounted for the second tranche as a derivative. Expenses and fees payable upon the issuance of the first and second tranches of convertible loans were allocated pro rata to the above two components. The share of expenses allocated to the embedded conversion option derivative was charged directly to the consolidated statement of operation, while the share of expenses allocated to the residual convertible loan was deducted from the loan. See note 24, “Convertible loans” for further information. 3.16. 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 23, “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 consolidated 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 consolidated 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 consolidated 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 consolidated 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 consolidated 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

New and amended IFRS standards

New and amended IFRS standards	12 Months Ended
	Dec. 31, 2022
Accounting Policies, Changes, Accounting Estimates And Errors [Abstract]
New and amended IFRS standards	New and amended IFRS standardsThere 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. New standards, amendments to standards and interpretations that are not yet effective, which have been deemed by the Group as currently not relevant, and hence are not listed here.

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Financial risk management	Financial risk management 5.1 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. Management and the Board of Directors regularly reviews the Group cash forecast and related foreign exchange risk. It also performs the risk assessment, defines any necessary measures and ensures the monitoring of the internal control system. The Group does not use derivative financial instruments to hedge these exposures. Foreign exchange risk The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to British pounds, Euros and Swiss francs. Transaction exposure arises because the amount of local currency paid or received in transactions denominated in foreign currencies may vary due to changes in exchange rates. Foreign exchange risk arises from: – forecast costs denominated in a currency other than the entity’s functional currency; – recognized assets and liabilities denominated in a currency other than the entity's functional currency; and – net investments in foreign operations. Management believes that foreign exchange risk is minimal, as the Company pays invoices mainly in USD and holds cash principally in USD. The Group's cash and cash equivalents are denominated in the following currencies: 2022 2022 2021 2021 December 31 in KL/C (1) in KUSD in KL/C (1) in KUSD In USD 319,568 319,568 462,306 462,306 In CHF 116 125 580 635 In GBP 4,111 4,974 2,162 2,921 In EUR 1,658 1,774 601 682 326,441 466,544 _______________ (1) Thousands Local Currencies The Group has certain investments in foreign operations whose net assets are exposed to foreign currency translation risk. Currency exposure arising from these net assets of the Group’s foreign operations is managed primarily through purchasing goods and services denominated in the relevant foreign currencies. At December 31, 2022, if the USD had weakened / strengthened by 10% against the CHF with all other variables held constant, the pre-tax loss for the year would have been KUSD 742 higher / lower, mainly as a result of foreign exchange losses / gains on translation of CHF-denominated net monetary liabilities (2021: KUSD 1,034 higher / lower on net monetary assets). At December 31, 2022, if the USD had weakened / strengthened by 10% against the EUR with all other variables held constant, the pre-tax loss for the year would have been KUSD 98 higher / lower, mainly as a result of foreign exchange losses / gains on translation of EUR-denominated net monetary liabilities (2021: KUSD 191 higher / lower on net monetary assets). At December 31, 2022, if the USD had weakened / strengthened by 10% against the GBP with all other variables held constant, the pre-tax loss for the year would have been KUSD 487 higher / lower, mainly as a result of foreign exchange losses / gains on translation of GBP-denominated net monetary liabilities (2021: KUSD 424 higher / lower), and the gain on currency translation differences credited directly to equity and arising on the translation of the net assets of ADCT UK would have been KUSD 633 higher / lower (2021: KUSD 544 higher / lower on net monetary assets). Interest rate risk Interest rate risk arises from movements in interest rates which could have adverse effects on the Group's net income or financial position. Changes in interest rates cause variations in interest income and expenses on interest-bearing assets and liabilities, and on the value of the net defined benefit pension obligation. In relation to the royalty purchase agreement with 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 27, “Deferred royalty obligations” 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 23, "Senior secured term loan facility and warrants" for further information. A hypothetical 100 basis point increase (decrease) in the interest rate as of December 31, 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. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities and from its financing activities including deposits with banks and other financial institutions (see note 19b, “Credit quality of financial assets”). The Group’s cash and cash equivalents accounts are maintained with well established, highly rated financial institutions. The Company’s wholly-owned subsidiaries are solvent, are managed on a cost-plus service provider basis, and are supported by the Company as the parent. To date, the Company’s only source of product revenue, which commenced during May 2021, has been sales of ZYNLONTA only in the U.S., which is sold primarily through wholesale distributors. In addition, the Company began earning license revenues in 2022 through its license agreements with third parties. See note 7 “Revenue recognition” for further information. We continuously monitor the creditworthiness of our customers and have internal policies regarding customer credit limits. When determining customer allowances for estimated credit losses, the Company analyzes accounts that are past due, the creditworthiness of its customers, current economic conditions and, when sufficient historical data becomes available, actual credit losses incurred by the Company. As of December 31, 2022, the Company did not record an allowance for expected credit losses as it was considered immaterial. Liquidity risk Liquidity risk is the risk that the Group may not be able to generate sufficient cash resources to settle its obligations in full as they fall due or can do so only on terms that are materially disadvantageous. Prudent liquidity risk management implies maintaining sufficient cash to cover working capital requirements. Cash is monitored by the Group management. Funding and liquidity risks are reviewed regularly by management and the Board of Directors. The Board of Directors reviews the Group’s ongoing liquidity risks quarterly as part of the financial review process and on an ad hoc basis as necessary. To date, the Company has funded its capital requirements through capital raises, including the issuance of the Company’s common shares, the issuance of convertible loans (see note 24, “Convertible loans”), the issuance of term loans (see note 23, “Senior secured term loan facility and warrants”), partnering of its programs and royalty financings (see note 7, “Revenue recognition” and note 27, “Deferred royalty obligation”). The table below analyzes the Group's financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. (in KUSD) Note Less than 1-3 3-5 More than Trade accounts payable 12,351 — — — Lease liabilities, contractual rent 1,284 2,380 2,323 2,456 Senior secured term loan, interest and exit fee (1) 14,840 29,882 30,440 27,272 Senior secured term loan, principal 23 — — — 120,000 Deferred royalty obligation (2) 27 4,885 — — — At December 31, 2022 (2) 33,360 32,262 32,763 149,728 Trade accounts payable 12,080 — — — Lease liabilities, contractual rent 1,235 2,122 1,962 3,706 Convertible loan, interest and exit fee 6,938 13,894 6,672 — Convertible loan, principal 24 — — 115,000 — Deferred royalty obligation (2) 27 1,191 — — — At December 31, 2021 (2) 21,444 16,016 123,634 3,706 (1) The interest on the senior secured term loans is variable and dependent upon market factors. The EIR will get updated at the end of each reporting period for changes in the rate. (2) The Company received an initial USD 225.0 million of gross proceeds under the deferred royalty obligation. The table above includes the fixed amount to be paid to HCR next quarter. The remaining obligation has been excluded from the tabular disclosure as there is no contractual maturity date and payments are not yet fixed. The Company’s aggregate royalty obligations are capped at a maximum of 2.50 times the amount received (see note 27, “Deferred royalty obligation”). 5.2 Capital management The Group considers equity as equivalent to the IFRS equity on the balance sheet (including share capital, share premium and all other equity reserves attributable to the owners of the Company). Other than its lease liabilities, the Group’s only interest-bearing debt relates to the issuance of senior secured term loans (see note 23, “Senior secured term loan facility and warrants”). While the royalty purchase agreement does not have an explicit interest rate, the Company is obligated to pay interest in the form of royalties in connection with certain net sales and licensing revenue (see note 27, “Deferred royalty obligation”). The primary objective of the Group's capital management is to maximize shareholder value. Management and the Board of Directors regularly reviews its shareholder return strategy. For the foreseeable future, management and the Board of Directors will maintain a capital structure that supports the Group's strategic objectives through managing funding and liquidity risks and optimizing shareholder return. The Company is a commercial-stage biotechnology company with product candidates still at pre-clinical and clinical stages of development. It intends to continue to explore financing opportunities either through the equity or debt markets as well as through cooperation and collaboration with pharmaceutical and biotechnology partners – potentially along the value chain from research alliances through co-development to commercialization. As explained in note 2 (iii), “Going concern basis”, management believes that the Company has sufficient financial resources available to meet all of its obligations for at least the twelve months from the issuance of these consolidated financial statements without additional capital becoming available. 5.3 Fair value estimation As of December 31, 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; and – Trade accounts payable. As a result of increases in interest rates, the Company utilized a higher discount rate, 2.3%, in its most recent pension obligation actuarial valuation performed as of December 31, 2022. The use of a higher discount rate resulted in a decrease of USD 3.7 million to its Defined benefit pension liabilities with a corresponding offset to Other comprehensive loss which was recorded during 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, 2023. Fair values must be estimated at the end of each reporting period 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 23, "Senior secured term loan facility and warrants" and for the Deerfield warrants in note 25, "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 24, "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.

Critical accounting estimate an

Critical accounting estimate and judgements	12 Months Ended
	Dec. 31, 2022
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Critical accounting estimate and judgements	Critical accounting estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates, assumptions and judgements that have significantly affected reported results or that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. Revenue Upon the April 23, 2021 FDA approval of ZYNLONTA for the treatment of relapsed or refractory DLBCL, the Company began generating revenue from the sale of its product candidates. In previous years, the Company had generated only service revenues from a license and collaboration arrangement. Significant judgements were required in implementing the Company’s revenue recognition accounting policy as set out in note 3, “Significant accounting policies”. In particular, significant judgement was required in determining the Company’s GTN sales adjustments. Reversal of previously recorded inventory impairment charges Upon the receipt of FDA approval for ZYNLONTA during the year ended December 31, 2021, the Company reversed previously recorded impairment charges. The reversal of previously recorded impairment charges was based on a number of factors existing at that time that involved significant judgement including estimated demand for ZYNLONTA. See note 3, “Significant accounting policies”. Licenses The Company enters into collaboration, license and sublicense agreements with third parties, which grant the Company the right to use their antibodies with the Company's licensed warhead and linker technology to develop new ADCs for anti-cancer treatments. The license fees (upfront fees, signature fees, milestone payments) paid by the Company under the agreements are capitalized as intangible assets. The Company considers that those licenses have an indefinite life until regulatory and marketing approval is obtained. Once obtained, the asset will be treated as a definite-lived intangible asset and amortization will commence. The license costs capitalized were KUSD 695 and KUSD 2,893 for the years 2022 and 2021, respectively. The intangible assets are tested annually for impairment and more frequently if events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount (higher of an asset's fair value less costs of disposal and value in use). Impairment losses are recognized in the consolidated statement of operation. Testing for impairment inevitably involves the application of judgement. In 2022 and 2020, in relation to the termination of one of the Company's programs in each year, an impairment charge of KUSD 226 and KUSD 216 (corresponding to the entire carrying amount of the capitalized license) were recognized and charged to R&D expenses in the consolidated statement of operation. The Company performed its review for 2021 and concluded no impairment was required. See note 17, “Intangible assets”. Deerfield warrants 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. These warrants have been recognized as a warrant obligation and presented in the consolidated 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 consolidated statement of operations. See note 25, “Deerfield Warrants.” Senior secured term loan facility On August 15, 2022, the Company, ADCT UK and ADCT America entered into the Loan Agreement 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. The Company drew down the First Tranche on the same day. The first tranche has been recognized as a hybrid financial instrument and accounted for as two separate components: (i) a warrant obligation and (ii) a loan. In determining the value of the warrant obligation and loan associated with the First Tranche, the Company utilized significant estimates and judgements. In particular, significant judgement was required in selecting the appropriate model to value the warrant obligation arising from the First Tranche of the senior secured term loans and in identifying the appropriate key assumptions as inputs to the selected model. Details of the model and assumptions are set out in note 23, “Senior secured term loan facility and warrants.” Deferred royalty obligation On August 25, 2021, the Company entered into a royalty purchase agreement with certain entities managed by HCR. The Company has accounted for the initial cash received as debt, less transaction costs and will subsequently account for the value of the debt at amortized cost. Significant judgements were used in the initial model and will continue to be used in subsequent models to estimate the total amount of future payments and the timing of such associated with the royalty purchase agreement with HCR. In particular, significant judgements were made by the Company based on revenue projections as well as the achievement of certain milestones associated with the royalty purchase agreement with HCR. Further information with respect to the model, judgements and assumptions are set out in note 27, “Deferred royalty obligation.” Deferred tax assets Deferred income tax assets from tax loss carryforwards, R&D tax credits, and temporary differences between tax and financial statement income are initially recognized to the extent of suitable deferred income tax liabilities, then to the extent that the realization of the related tax benefit through future taxable profits is probable. In determining taxable income for financial statement purposes, the Company makes certain estimates and judgments. These estimates and judgments affect the calculation of certain tax liabilities and the determination of the recoverability of certain of the deferred tax assets. In evaluating the Company’s ability to recover its deferred tax assets it considers all available positive and negative evidence including its past operating results, the existence of cumulative losses, as well as R&D tax credits, and its forecast of future taxable income. In estimating future taxable income, the Company develops assumptions including the amount of future net revenue and pre-tax operating income and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates the Company is using to manage the underlying business. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. The Company records the effect of a tax rate or law change on the Company's deferred tax assets and liabilities in the period the law change is enacted or substantively enacted. Future tax rate or law changes could have a material effect on the Company's financial condition, results of operations or cash flows. See note 11, “Income tax expense” and note 20, “Deferred income tax and tax credits” for further information. Pension Obligations The liability recognized in the balance sheet in respect of the Company’s defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity that approximate to the terms of the related pension obligation. In countries where there is no deep market in such bonds, the market rates on government bonds are used. The current service cost of the defined benefit plan, recognized in the consolidated statement of operation in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current year. Past service costs, resulting from a plan amendment or curtailment, are recognized immediately in the consolidated statement of operation. The net interest cost is calculated by applying the discount rate to the net balance of the present value of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the consolidated statement of operation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive loss in the period in which they arise. For defined contribution plans, we pay contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. Once the contributions have been paid, we have no further payment obligations. The contributions are recognized as employee benefit expenses when they are due and are included in staff costs. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. See note 22, “Pension obligations” for further information. Share-based compensation expense The details of the ADC Therapeutics Incentive Plan 2014 (as amended and restated as of October 1, 2015, the “Incentive Plan 2014”), the Share Purchase Plan 2016, the 2019 Equity Incentive Plan and the 2022 ESPP are explained in note 26, “Share-based compensation expense”. Prior to the Company’s IPO, the determination of the fair value of awards involved the application of an adjusted form of the Black-Scholes option pricing model that took into account the strike price, term of the award, impact of dilution (where material), share price at grant date and expected price volatility of the underlying share, expected dividend yield, risk free interest rate for the term of the award and correlations and volatilities of the shares of peer group companies. In addition, for awards granted on and subsequent to July 1, 2019 through the IPO date, the fair value of grants was based on a probability-weighted expected returns method that took into account both the value derived by using an adjusted form of the Black-Scholes option pricing model and a discounted estimate of the price that may have been achieved in a future transaction. This method entailed further significant judgement, both in estimating a transaction price and in estimating the probabilities of different outcomes. The adjusted form of the Black-Scholes option pricing model used to derive a value for the common share price at grant date derived the implied equity value for one type of equity security from a contemporaneous transaction involving another type of security and considered the timing, amount, liquidation preferences and dividend rights of issues of preference shares. After the Company’s IPO, the determination of the fair value of awards involves the application of the Black-Scholes option pricing model for the Company’s option equity awards and purchase rights granted under the 2022 ESPP, which utilizes certain assumptions including expected volatility, expected life and risk-free interest rate. In addition, 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.

Non-operating income

Non-operating income	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Non-operating income	Non-operating (expense) income Year Ended December 31, (in KUSD) Note 2022 2021 2020 Convertible loans, derivatives, change in fair value income (expense) 24 25,650 34,893 (45,411) Convertible loans, derivatives, transaction costs — (148) (1,571) Loss on extinguishment 24 (42,114) — — Deerfield warrant obligation, change in fair value income 25 11,504 — — Senior secured term loan facility, warrants, transaction costs 23 (245) — — Senior secured term loan facility, warrants, change in fair value income 23 2,962 — — Share of results with joint venture 18 (10,084) (6,672) 24,368 Exchange differences (loss) gain (110) 50 (576) R&D tax credit 357 366 584 Non-operating (expense) income (12,080) 28,489 (22,606) Convertible loans, derivatives, change in fair value income Changes in derivative fair values are explained in note 24, “Convertible loans”. Pursuant to the Facility Agreement with Deerfield, the Company drew down the 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 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 consolidated statement of operations. Transaction costs incurred on the issuance of the first and second tranches were allocated pro rata to the embedded conversion option derivative and to the convertible loan. The costs allocated to the loans were deducted from the initial book value of the loans and recognized over the life of the loans as part of the effective interest costs. The costs allocated to the embedded derivative feature of the first and second tranches were recognized directly in the consolidated statement of operation. 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 24, “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 25, "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 consolidated statement of operations. See note 23, "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 at the end of each reporting period. Changes in fair value of the warrant obligation are explained in note 23, "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 18, “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 The Company recognizes as income 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 13% 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.

Employee expenses

Employee expenses	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Employee expenses	Employee expenses Year Ended December 31, (in KUSD) Note 2022 2021 2020 Wages, salaries and other costs 85,660 78,748 44,058 Social security costs 12,622 10,433 7,292 Share-based compensation expense 26 50,637 60,555 42,928 Defined benefit plan costs 22 1,076 436 966 Defined contribution plan costs 3,019 1,894 727 Employee expenses 153,014 152,066 95,971 Employee expenses increased from USD 152.1 million in 2021 to USD 153.0 million in 2022. This increase of USD 0.9 million is primarily due to higher wages and benefits, offset by lower share-based compensation expense, associated with the transition of certain key executives.

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Expenses by nature	perating expense The following table provides the consolidated statement of operation classification of our total operating expense: Year Ended December 31, (in KUSD) Note 2022 2021 2020 COGS 4,579 1,393 — R&D External costs (1) 116,550 91,875 97,768 Employee expenses (2) 8 71,348 66,127 44,264 R&D expense 187,898 158,002 142,032 S&M External costs (3) 35,752 28,817 11,887 Employee expenses (2) 8 33,300 35,963 10,214 S&M expense 69,052 64,780 22,101 G&A External costs (1) 23,640 21,486 13,637 Employee expenses (2) 8 48,366 49,976 41,493 G&A expense 72,006 71,462 55,130 Total operating expense 333,535 295,637 219,263 (1) Includes depreciation expense (2) Includes share-based compensation expense (3) Includes depreciation expense for Property, plant and equipment (“PP&E”) for the year ended December 31, 2022. All other depreciation expense was not material for the year ended December 31, 2022. Depreciation expense was not material for year ended December 31, 2021 and 2020. The increase in Cost of product sales in the year ended December 31, 2022, was primarily driven by an impairment charge of USD 2.5 million, of which USD 1.7 million related to the manufacturing of antibodies that did not meet the Company's specifications, and an increase of USD 0.8 million was associated with inventory manufactured using the Company’s existing process at a new facility that did not meet our specifications. In addition, Cost of product sales during the year ended December 31, 2022 increased due to a full year of sales activity in 2022 as compared to 2021 due to the commencement of ZYNLONTA sales in May 2021. 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 year ended December 31, 2022 as well as our continued clinical trials to expand the potential market opportunities for ZYNLONTA in earlier lines of therapy and build our pipeline. The Company reversed KUSD 8,100 of previously recorded impairment charges during the year ended December 31, 2021, relating to inventory costs incurred for the manufacture of product prior to FDA approval, which also contributed to the increase in R&D expenses in 2022 compared to 2021. Employee expense increased in the year ended December 31, 2022 primarily due to higher contract labor expenses and share-based compensation expense. R&D expenses increased in the year ended December 31, 2021 as the Company invested in medical programs to expand the potential market opportunities for ZYNLONTA in earlier lines of therapies and new histologies, advance Cami to support BLA submission, and build its pipeline. As a result of these initiatives, employee expense increased due to increased headcount and higher share-based compensation expense. External costs increased primarily due to the advancement of our clinical trials associated with ZYNLONTA. CMC expenses increased in advance of the launch of ZYNLONTA and advancement of ADCT-601 clinical activities. The reversal of USD 8.1 million of previously recorded impairment charges during the year ended December 31, 2021 relating to inventory costs associated with the manufacture of ZYNLONTA that were historically recorded as R&D expenses, partially offset the increase in R&D expenses for 2021 compared to 2020. The increase in S&M expenses for the year ended December 31, 2022 was primarily due to increased professional expenses relating to the commercial launch of ZYNLONTA. This increase during the year ended December 31, 2022 was partially offset by lower employee expenses primarily due to lower share-based compensation expense. S&M expenses in the year ended December 31, 2021 were primarily related to the recruitment of commercial employees for the commercial launch of ZYNLONTA. External costs increased as a result of higher professional fees for the launch of ZYNLONTA. The increase in G&A expenses in the year ended December 31, 2022 was primarily due to higher professional fees, including the fees associated with the license agreement entered into with MTPC. Employee expense for the year ended December 31, 2022 decreased as a result of lower share-based compensation expense partially offset by higher wages and benefits including USD 1.3 million of executive compensation associated with the CEO transition. The increase in G&A expense in the year ended December 31, 2021 was primarily due to higher employee expense as a result of increased share-based compensation expense. External costs also increased primarily as a result of higher professional fees associated with being a public company.

Income tax expense

Income tax expense	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Income tax expense	Income tax expense (benefit) Year Ended December 31, (in KUSD) 2022 2021 2020 Current: Current income taxes for the year 3,145 3,644 417 Current income tax (benefit) expense related to prior years (1,298) 926 (90) Total current income tax expense 1,847 4,570 327 Deferred: Recognition of previously unrecognized tax credits 11 (22,745) — Origination and reversal of tax credits (1,080) (2,311) — Other 361 (993) — Total deferred income tax benefit (708) (26,049) — Income tax expense (benefit) 1,139 (21,479) 327 The Group's expected tax expense for each year is based on the applicable tax rate in each individual jurisdiction, which in 2022 ranged between 13.65% and 21.0% (2021: between 13.70% and 21.0%; 2020: between 13.68% and 21.0%) in the tax jurisdictions in which the Group operates. The weighted average tax rate applicable to the profits of the consolidated entities was 13.1% (2021: 13.4%; 2020: 13.8%). This decrease is due to changes in the mix of the taxable results and the changes in tax rates of the individual group companies. The tax on the Group's net loss before tax differs from the theoretical amount that would arise using the weighted average applicable tax rate as follows: Year Ended December 31, (in KUSD) 2022 2021 2020 Loss before taxes 154,661 251,505 245,963 Pre-tax book income at the applicable statutory rate 20,191 34,060 33,319 Tax effects of: Tax losses for which no deferred income tax asset is recognized (18,908) (31,138) (26,112) State income taxes - U.S. 654 2,704 — Recognition of previously unrecognized R&D tax credits and deductible temporary differences 22 22,270 — R&D tax credit - U.S. 6,110 7,232 546 Non-deductible expenses (8,023) (13,665) (8,166) Other (1,185) 16 86 Income tax (expense) benefit (1,139) 21,479 (327)

Other current assets

Other current assets	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Other current assets	Other current assets (in KUSD) December 31, 2022 December 31, 2021 VAT receivable, net 400 364 Withholding tax receivable 363 23 Prepaid insurance 2,747 3,416 Prepaid compensation 1,422 1,489 Prepaid expenses 3,143 2,457 Prepaid income tax 7,983 — Prepaid and other CMC, research and clinical expenses 8,001 7,988 Cost sharing arrangement receivable 2,869 1,106 UK R&D expenditure credit receivable 492 455 Interest Receivable 619 — 28,039 17,298 The increase of USD 10.7 million in other current assets is primarily due to prepaid income taxes. The maturity of other current assets is less than one year. The Company considers the counterparty risk as low. The Company believes the carrying amount of the aforementioned receivables is considered to approximate their fair value.

Non-current assets by geographi

Non-current assets by geographic area	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Non-current assets by geographic area	Non-current assets by geographic area (in KUSD) Country December 31, 2022 December 31, 2021 Switzerland 46,975 56,680 United Kingdom 6,779 8,165 United States 1,739 1,203 55,493 66,048

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2022
Property, plant and equipment [abstract]
Property, plant and equipment	(in KUSD) Leasehold Laboratory Office Hardware Construction in progress Total Cost January 1, 2021 746 1,002 671 870 67 3,356 Additions 1,761 1,250 308 111 — 3,430 Transfers 67 — — — (67) — Disposals and scrapping (272) — (24) — — (296) Exchange difference (53) (24) (10) — — (87) December 31, 2021 2,249 2,228 945 981 — 6,403 Additions 21 555 1 — — 577 Exchange difference (188) (251) (54) (2) — (495) December 31, 2022 2,082 2,532 892 979 — 6,485 Accumulated depreciation January 1, 2021 (362) (594) (457) (314) — (1,727) Depreciation charge (312) (251) (99) (258) — (920) Disposals and scrapping 272 — 24 — — 296 Exchange difference 3 9 2 — — 14 December 31, 2021 (399) (836) (530) (572) — (2,337) Depreciation charge (226) (436) (124) (231) — (1,017) Exchange difference 12 96 21 1 — 130 December 31, 2022 (613) (1,176) (633) (802) — (3,224) Net book amount December 31, 2021 1,850 1,392 415 409 — 4,066 December 31, 2022 1,469 1,356 259 177 — 3,261 In 2022 and 2021, the investments in tangible fixed assets related to leasehold improvements and laboratory equipment related to the UK facility. During 2021, the Company wrote-off fully depreciated PP&E no longer in use. Depreciation of property, plant and equipment has been charged to the following categories in the consolidated statement of operation: Year Ended December 31, (in KUSD) 2022 2021 2020 R&D expense 840 751 589 S&M expense (1) 80 67 — G&A expense 97 102 185 1,017 920 774 (1) Depreciation expense for S&M was not material for year ended December 31, 2020.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases The following tables provide balance sheet classification related to leases: (in KUSD) December 31, 2022 December 31, 2021 Properties (offices) 6,669 7,080 Vehicles 51 84 Total right-of-use assets 6,720 7,164 (in KUSD) December 31, 2022 December 31, 2021 Lease liabilities (short-term) 1,097 1,029 Lease liabilities (long-term) 6,564 6,994 Total lease liabilities 7,661 8,023 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. Pursuant to the terms of the agreement, the aggregate minimum lease payments for the first five years are fixed at which point the parties agree to perform an open market review, subject to a minimum and maximum rent escalation of 2% and 4%, respectively. Alternatively, the Company has the contractual right to exit the lease upon the fifth anniversary of lease commencement. In accounting for its Right-of-use asset and Lease liability, the Company concluded it was reasonably certain that it would occupy the space for the full ten-year term. During the second quarter of 2021, the Company entered into a new 18-month lease for its existing U.S. corporate offices in New Jersey, which commenced in June 2021. (in KUSD) Right-of-Use Assets Properties (Offices) Vehicles Total Cost January 1, 2021 5,324 78 5,402 Additions 5,662 56 5,718 Lease termination (1,873) — (1,873) Exchange difference (108) — (108) December 31, 2021 9,005 134 9,139 Additions 1,234 — 1,234 Lease termination (386) — (386) Exchange difference (542) — (542) December 31, 2022 9,311 134 9,445 Accumulated depreciation January 1, 2021 (2,253) (20) (2,273) Depreciation charge (1,551) (30) (1,581) Lease termination 1,873 — 1,873 Exchange difference 6 — 6 December 31, 2021 (1,925) (50) (1,975) Depreciation charge (1,160) (33) (1,193) Lease termination 386 — 386 Exchange difference 57 — 57 December 31, 2022 (2,642) (83) (2,725) Net book amount December 31, 2021 7,080 84 7,164 December 31, 2022 6,669 51 6,720 Depreciation of right-of-use assets have been charged to the following categories in the consolidated statement of operation: For the Years Ended (in KUSD) 2022 2021 2020 R&D expenses 946 1,342 915 G&A expenses 247 239 236 1,193 1,581 1,151 Depreciation expense for S&M was deemed to be not material. (in KUSD) Lease liabilities Properties (Offices) Vehicles Total January 1, 2021 3,402 65 3,467 Additions 5,662 56 5,718 Cash outflow (including interest) (1,169) (33) (1,202) Interest 222 3 225 Exchange difference (219) 34 (185) December 31, 2021 7,898 125 8,023 Additions 1,234 — 1,234 Cash outflow (including interest) (1,166) (36) (1,202) Interest 189 2 191 Exchange difference (548) (37) (585) December 31, 2022 7,607 54 7,661 December 31, 2021 Lease liabilities (short-term) 994 35 1,029 Lease liabilities (long-term) 6,904 90 6,994 December 31, 2022 Lease liabilities (short-term) 1,061 36 1,097 Lease liabilities (long-term) 6,546 18 6,564 The Company does not recognize right-of-use assets for short-term and low value leases. The Company has no low value leases. Expense relating to short-term leases incurred during 2022 and 2021 is recorded in the consolidated statement of operation in an amount of KUSD 46 and KUSD 164, respectively. The amount payable in 2023 under short-term leases (with an original term of under 12 months) is KUSD 5.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2022
Intangible Assets [Abstract]
Intangible assets	Indefinite lived Definite lived Licenses Internal development costs Internal development costs Licenses Software Total Cost January 1, 2021 11,144 — — — 168 11,312 Additions 2,293 631 — 600 14 3,538 Transfers (452) — — 452 (6) (6) December 31, 2021 12,985 631 — 1,052 176 14,844 Additions 695 323 — — 110 1,128 Transfers — (954) 954 — — — Exchange difference — — — — (8) (8) December 31, 2022 13,680 — 954 1,052 278 15,964 Accumulated amortization January 1, 2021 (1,069) — — — (64) (1,133) Amortization charge — — — (50) (79) (129) December 31, 2021 (1,069) — — (50) (143) (1,262) Amortization charge — — — (75) (43) (118) Impairment charge (226) — — — — (226) Exchange difference — — — — 2 2 December 31, 2022 (1,295) — — (125) (184) (1,604) Net book amount December 31, 2021 11,916 631 — 1,002 33 13,582 December 31, 2022 12,385 — 954 927 94 14,360 Amortization and impairment of intangible assets have been charged to the following categories in the consolidated statement of operation: (in KUSD) Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Cost of product sales 75 50 — R&D expenses 255 12 230 G&A expenses 14 67 33 344 129 263 Licenses 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. On April 23, 2021, the Company received FDA approval for ZYNLONTA. Upon FDA approval, the Company assigned an estimated useful life of 14 years to the intangible assets related to ZYNLONTA 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. Amortization expense relating to the ZYNLONTA intangible assets for the year ended December 31, 2022 and December 31, 2021 was KUSD 75 and KUSD 50, respectively, which was recorded in Cost of product sales in the consolidated statement of operations. In 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. In 2021, the Company capitalized the following license fees paid or accrued to third parties 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; • 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 is being amortized over its estimated useful life of 14 years as described above; and • An amount of KUSD 293 paid upon the commencement of a Phase 1 clinical trial 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 an indefinite-lived intangible asset. License Payments • An amount of KUSD 400 paid 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 300 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; and • 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. Internal Development Costs The ZYNLONTA internal development costs were initially recorded as an indefinite-lived intangible asset. In December 2022, regulatory approval was achieved in the EU, at which point the asset became a definite-lived intangible asset. The Company will commence amortization of the asset based on a systematic and rational approach. Impairment testing The Group performed its annual impairment test by assessing the estimated fair value less costs to sell (recoverable amount) and comparing to the carrying value of the assets. The recoverable amount of the assets is considered to be a Level 3 in the fair value hierarchy due to the unobservable inputs used in the valuation. For purposes of assessing impairment, each of the significant indefinite-lived intangible assets were grouped at the lowest levels for which there are separately identifiable expected future cash flows. The valuation models calculate the risk-adjusted discounted cash flow observing the following key assumptions in estimating the recoverable amount: – Timing and outcome of achieving clinical development and regulatory approval milestones; – Anticipated research and development costs; – Size of potential market and general commercialization expectations, such as anticipated pricing and uptake; and – Anticipated cost of goods and sales and marketing expenditures. Each of the product candidates related to the indefinite-lived and definite-lived intangible assets are additionally monitored for impairment considering the following indicators: – Future contractual commitments and internal budgets approved by the Board of Directors for ongoing and future trials; – Consideration of the progress of clinical trials, including obtaining primary endpoint readout data, discussions with regulatory authorities for new trials and enrollment status for ongoing clinical trials; and – Consideration of market potential, supported where available by external market studies, and assessments of competitor products and product candidates. If a candidate fails any of those indicators, the entire balance is written off. During 2022 and 2020, the Company terminated a program in each year. Consequently, impairment charges of KUSD 226 and KUSD 216 (corresponding to the entire carrying amount of the capitalized licenses) were recognized and charged to R&D expenses in the consolidated statement of operation. No impairment losses were recognized in 2021.

Financial instruments

Financial instruments	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Financial instruments	Financial instruments by class and by category The accounting policies for financial instruments have been applied as indicated below: (in KUSD) Note December 31, 2022 December 31, 2021 Financial assets Cash and cash equivalents 5.1 / 19b 326,441 466,544 Accounts receivable, net 3.4 72,971 30,218 Other current assets (excluding prepaid expenses) 12 4,743 1,948 Other long-term assets 903 693 Total financial assets (1) 405,058 499,403 (in KUSD) Note December 31, 2022 December 31, 2021 Financial liabilities Accounts payable 12,351 12,080 Other current liabilities 21 73,035 50,497 Lease liabilities, short-term and long-term 16 7,661 8,023 Senior secured term loans, short-term and long-term 23 109,714 — Convertible loans, short-term and long-term 24 — 93,728 Convertible loans, derivatives 24 — 37,947 Warrant obligations 23, 25 1,788 — Deferred royalty obligation 27 222,277 225,477 Income taxes payable — 3,754 Total financial liabilities (1) 426,826 431,506 Net financial position (21,768) 67,897 (1) Financial assets and Financial liabilities are recorded at historical or amortized cost with the exception of Convertible loans, derivatives and Warrant obligations which are recorded at fair value. The following is the net debt rollforward for the Company for 2021 and 2022. Notes Cash and cash equivalents Convertible loan (1) Embedded derivatives (1) Derivatives (1) Deferred royalty obligation (2) Lease liabilities (3) Total January 1, 2021 439,195 (38,406) (51,229) (21,979) — (3,467) 324,114 Issuance of convertible loan 24 50,000 (50,368) (18,158) 20,341 — — 1,815 Fair value adjustments 24 — — 31,440 1,638 — — 33,078 Convertible loan transaction costs 24 (557) 409 — — — — (148) Convertible loan accretion 24 — (10,418) — — — — (10,418) Interest payments 16, 24 (5,280) 5,055 — — — 225 — Issuance of deferred royalty obligation 27 225,000 — — — (225,000) — — Deferred royalty transaction costs 27 (6,998) — — — 6,998 — — Deferred royalty obligation accretion and cumulative catch-up 27 — — — — (7,688) — (7,688) Deferred royalty obligation payments 27 (213) — — — 213 — — Lease additions 16 — — — — — (5,718) (5,718) Lease principal 16 (977) — — — — 977 — Other lease activity including foreign exchange 16 — — — — — (40) (40) Net cash outflow (233,632) — — — — — (233,632) Foreign exchange on cash 6 — — — — — 6 December 31, 2021 466,544 (93,728) (37,947) — (225,477) (8,023) 101,369 Notes Cash and cash equivalents Senior secured term loans (4) Warrant obligations (4)(5) Convertible loan (1) Embedded derivatives (1) Deferred royalty obligation (2) Lease liabilities (3) Total January 1, 2022 466,544 — — (93,728) (37,947) (225,477) (8,023) 101,369 Fair value adjustments 23, 24, 25 — — 14,466 — 25,650 — — 40,116 Convertible loan and senior secured term loan accretion 24 — (5,845) — (7,684) — — — (13,529) Interest payments 23, 24 (10,368) 4,987 — 5,190 — — 191 — Senior secured term loan transaction costs 23 (7,432) 7,187 — — — — — (245) Issuance of senior secured term loan facility 23 120,000 (116,043) (3,957) — — — — — Loss on extinguishment 24 — — — (22,082) — — — (22,082) Deerfield loan exchange 24, 25 (118,304) — — 118,304 — — — — Issuance of Deerfield warrants 25 — — (12,297) — 12,297 — — — Deferred royalty obligation accretion and cumulative catch- up 27 — — — — — (7,798) — (7,798) Deferred royalty obligation payments 27 (10,998) — — — — 10,998 — — Lease additions 16 — — — — — — (1,234) (1,234) Lease principal 16 (1,011) — — — — — 1,011 — Other lease activity including foreign exchange 16 — — — — — — 394 394 Net cash outflow (111,782) — — — — — — (111,782) Foreign exchange on cash (208) — — — — — — (208) December 31, 2022 326,441 (109,714) (1,788) — — (222,277) (7,661) (14,999) (1) See note 24, “Convertible loans” for further information. (2) See note 27, “Deferred royalty obligation” for further information. (3) See note 16, “Leases” for further information. (4) See note 23, “Senior secured term loan facility and warrants” for further information. (5) See note 25, “Deerfield warrants” for further information. The Company’s cash and cash equivalents are held at the following financial institutions, each with a high quality credit rating ranging from BBB to A+ (by reference to S&P credit ratings): (in KUSD) December 31, 2022 December 31, 2021 Cash and cash equivalents UBS 105,183 154,961 Credit Suisse 110,338 157,098 JP Morgan Chase 654 1,295 Bank of America 110,266 153,190 326,441 466,544 Accounts receivable, net, Other current assets (excluding prepaid expenses) and other long-term assets are fully performing, not past due and not impaired (see note 12, “Other current assets” and note 19a, “Financial instruments by class and by category”).

Deferred income taxes and tax c

Deferred income taxes and tax credit	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Deferred income taxes and tax credit	Deferred income taxes and tax credit Recognized unused tax credits and temporary differences The Group projects its future taxable profits based on currently enacted law, and which are subject to revision if the U.S. legislates new tax law. Deferred income tax assets from ADCT America’s federal and state R&D tax credit carryforwards, as well as temporary differences, are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. The components of Deferred income tax as of December 31, 2022 and 2021 are as follows: (in KUSD) As of December 31, 2022 As of December 31, 2021 U.S. Federal R&D credits 21,200 21,213 U.S. State R&D credits 4,924 3,843 Other items 633 993 Total 26,757 26,049 U.S. federal and state R&D credits associated with recognized deferred tax assets are scheduled to expire in future years through 2042 as follows: (in KUSD) December 31, 2022 December 31, 2021 2026 14 — 2036 385 61 2037 111 — 2038 — — 2039 937 5,552 2040 8,429 8,429 2041 5,736 7,232 2042 6,123 — Total 21,735 21,274 An amount of KUSD 5,874 was utilized in 2022 (KUSD 6,010 in 2021). The U.S. R&D tax credits in the above table may be carried forward for up to 20 years. In addition, U.S. State R&D credits of KUSD 4,389 have no expiration date. These U.S. R&D tax credits relate entirely to ADCT America. Unused tax losses, unrecognized temporary differences and unused tax credits Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognized are attributable to the following: (in KUSD) December 31, 2022 December 31, 2021 Tax losses 926,350 818,946 Unused U.S. State R&D tax credits 918 907 Deductible (taxable) temporary differences (25,924) (40,380) Total 901,344 779,473 Tax loss carryforwards Potential deferred income tax assets from tax loss carryforwards exceed deferred tax liabilities. Deferred income tax assets from tax loss carryforwards are initially recognized to the extent of suitable deferred income tax liabilities, then to the extent that the realization of the related tax benefit through future taxable profits is probable. On this basis, the Company has decided not to recognize any deferred income tax assets other than those described above. The amounts of deferred income tax assets that arise from sources other than tax loss carryforwards and the amounts of deferred income tax liabilities are insignificant in comparison to the unrecognized tax loss carryforwards. Tax losses not recognized and to be carried forward (in KUSD): Years of expiry December 31, 2022 December 31, 2021 2022 — 31,128 2023 38,441 38,441 2024 92,012 92,012 2025 121,866 121,866 2026 118,943 118,943 2027 190,928 190,928 Beyond 2028 364,160 225,628 926,350 818,946 All of these carryforwards relate to the Company. In 2022, unused tax losses of KUSD 31,128 expired (2021: KUSD 19,889). U.S. R&D tax credits carryforwards As described above, Deferred income tax assets from U.S. R&D tax credit carryforwards are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. On this basis, the Group has not recognized deferred tax assets related to the following state tax credits carryforwards: (In KUSD) Years of expiry December 31, 2022 December 31, 2021 2038 363 352 2039 275 275 2040 280 280 918 907 These U.S. R&D tax credits, which may be carried forward for up to 7 years, relate entirely to ADCT America.

Accrued liabilities and other p

Accrued liabilities and other payables	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Accrued liabilities and other payables	Other current liabilities (in KUSD) December 31, 2022 December 31, 2021 Payroll and social charges 16,306 16,063 R&D costs 40,171 20,320 GTN sales adjustments (1) 1,595 1,386 Other (2) 14,963 12,728 73,035 50,497 (1) See note 7, “Revenue recognition.” (2) Other includes the short-term component of the Deferred royalty obligation as of December 31, 2022 and 2021. See note 27, “Deferred royalty obligation.”

Pension obligations

Pension obligations	12 Months Ended
	Dec. 31, 2022
Employee Benefits [Abstract]
Pension obligations	Pension obligations Swiss pension plan The Company contracted with the Swiss Life Collective BVG Foundation based in Zurich for the provision of occupational benefits. All benefits in accordance with the regulations are reinsured in their entirety with Swiss Life SA within the framework of the corresponding contract. This pension solution fully reinsures the risks of disability, death and longevity with Swiss Life. Swiss Life invests the vested pension capital and provides a 100% capital and interest guarantee. The pension plan is entitled to an annual bonus from Swiss Life comprising the effective savings, risk and cost results. Although, as is the case with many Swiss pension plans, the amount of ultimate pension benefit is not defined, certain legal obligations of the plan create constructive obligations on the employer to pay further contributions to fund an eventual deficit; this results in the plan nevertheless being accounted for as a defined benefit plan. In 2022, the guaranteed interest to be credited to employees' savings was 1% for mandatory retirement savings and 0.25% for supplementary retirement savings. The rate for converting mandatory savings to an annuity at age 65 for male employees and age 64 for female employees will decrease from 6.5% in 2022 to 6.2% in 2023 and 5.9% in 2024. The rate for converting supplementary savings to an annuity decreases from 4.712% in 2022 to 4.4855% starting in 2023 for male and decreases from 4.7626% in 2022 to 4.5411% in 2023 for female employees. The Swiss defined benefit plan scheme is valued by independent actuaries every year using the projected unit credit method. The latest actuarial valuation was carried out as at December 31, 2022. The net amount recognized on the balance sheet comprises: (in KUSD) December 31, 2022 December 31, 2021 Present value of defined benefit obligation for funded plan 12,446 14,919 Fair value of plan assets (12,446) (11,267) Deficit of funded plan: liability on the balance sheet — 3,652 The movement in the net defined benefit obligation over the year is as follows: (in KUSD) Present value Fair value of Total Defined benefit plan - pension costs: January 1, 2021 11,809 (8,266) 3,543 Current service cost 1,080 — 1,080 Impact of plan changes (651) — (651) Interest cost / (income) 23 (16) 7 Defined benefit plan - pension costs 452 (16) 436 Employee contributions 404 (404) — Employer contributions — (801) (801) Transfers from joiners' previous plans 1,968 (1,968) — 2,372 (3,173) (801) Exchange differences (382) 269 (113) Remeasurements: Change in financial assumptions (310) — (310) Other actuarial losses 978 — 978 Plan asset gains — (81) (81) Remeasurements 668 668 (81) 587 December 31, 2021 14,919 (11,267) 3,652 (in KUSD) Present value Fair value of Total Defined benefit plan - pension costs: January 1, 2022 14,919 (11,267) 3,652 Current service cost 1,234 — 1,234 Impact of plan changes (171) — (171) Interest cost / (income) 53 (40) 13 Defined benefit plan - pension costs 1,116 (40) 1,076 Employee contributions 466 (466) — Employer contributions — (967) (967) Transfers from joiners' previous plans 6 (6) — 472 (1,439) (967) Exchange differences (223) 177 (46) Remeasurements: Change in financial assumptions (3,445) — (3,445) Other actuarial (gains) losses (393) 194 (199) Plan asset gains — (71) (71) Remeasurements (3,838) (3,838) 123 (3,715) December 31, 2022 12,446 (12,446) — The positive impact of plan changes for 2022 was due to the further decrease of conversion rates for the supplementary retirement savings. Other actuarial gains in 2022 of KUSD 199 were mostly due to the increase in the discount rate. Changes in the financial assumptions in the following tables resulted in a positive balance of the funded status of the defined benefit obligations of KUSD 194. Due to the non-materiality of the amount the Company decided to record the KUSD 194 in other actuarial gains and present a nil balance of defined benefit obligations. The positive impact of plan changes for 2021 was due to the further decrease of conversion rates for the supplementary retirement savings. Other actuarial losses in 2021 of KUSD 978 were due to increases in the plan participants’ vested benefits. Changes in the financial assumptions resulted in a decrease to the defined benefit obligations. The present value of the defined benefit obligation related to 30 active employees based in Switzerland (2021: 31 active employees). The principal actuarial assumptions used for accounting purposes are as follows for all periods presented: 2022 2021 Discount rate 2.30 % 0.35 % Interest credited on savings accounts 2.30 % 0.35 % Future salary increases 1.50 % 1.50 % Future pension increases 0.00 % 0.00 % Assumptions regarding future mortality experience are set based on actuarial advice provided in accordance with published statistics and experience in each territory. Mortality assumptions for Switzerland are based on the LPP 2020 mortality generational tables for 2022 and 2021. The average life expectancy in years after retirement of a pensioner retiring at age 65 (male) and 64 (female) on the balance sheet date is as follows: 2022 2021 Male 22.70 22.57 Female 25.48 25.37 The sensitivity of the defined benefit obligation and of the service cost to changes in the weighted principal assumption is: 2022 Increase in Impact on defined Decrease in Impact on defined Discount rate 0.25 % (4.00) % (0.25) % 4.30 % Future salary increases 0.50 % 0.30 % (0.50) % (0.30) % Interest credited on savings accounts 0.50 % 2.20 % (0.50) % (2.10) % Future pension increases 0.50 % 5.60 % (0.50) % (5.10) % 2021 Increase in Impact on defined Decrease in Impact on defined Discount rate 0.25 % (4.90) % (0.25) % 5.30 % Future salary increases 0.50 % 0.60 % (0.50) % (0.60) % Interest credited on savings accounts 0.50 % 2.70 % (0.50) % (2.60) % Future pension increases 0.50 % 6.70 % (0.50) % (6.10) % The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the pension liability recognized within the statement of financial position. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period. Expected employer contributions to the defined benefit plan for the year ending December 31, 2023 amount to KUSD 853. The weighted average duration of the defined benefit obligation is 16.9 years (2021: 20.5 years). Asset-liability strategy The Swiss Life Collective BVG Foundation, to which the pension plan is affiliated, manages its funds in the interests of all members, with due attention to the priorities of liquidity, security and return. The Company’s pension plan benefits from the economies of scale and diversification of risk available through this affiliation. Investments by asset class Investments by asset class are as follows: (in KUSD) December 31, 2022 December 31, 2021 Cash 793 85 Bonds 6,586 6,320 Shares 553 531 Real estates and mortgages 3,602 3,457 Alternative investments 912 875 12,446 11,268 Defined benefit plan reserves The movement in the defined benefit plan reserves (included in “Other reserves”) is as follows: (in KUSD) 2022 2021 January 1 (3,281) (2,694) Remeasurements of defined benefit pension plan 3,715 (587) December 31 434 (3,281)

Senior secured term loan facili

Senior secured term loan facility and warrants	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Senior secured term loan facility and warrants	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 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 at the end of each reporting period. 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 consolidated 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 year ended December 31, 2022, the Company recognized income of KUSD 2,962 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 December 31, 2022 was KUSD 995. The decrease in fair value of the warrant obligation from August 15, 2022 to December 31, 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 consolidated statement of operations. See note 10, "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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 8.30 Share price in USD 3.84 Risk-free interest rate 4.0 % Expected volatility 80 % Expected term (months) 55.5 months Dividend yield — Black-Scholes value in USD 1.89 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 year ended December 31, 2022, the Company recorded interest expense on the senior secured term loan in the amount of KUSD 5,845 which was recorded in Financial expense in the consolidated statement of operations. The EIR at December 31, 2022 was 16.10%. 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 at the end of each reporting period. The following table summarizes the changes in fair value income (expense) and profit or loss activity of the embedded conversion option derivatives during the years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche (1) 15,556 28,003 (23,432) Deerfield Second Tranche - prior to FDA approval (2) — 3,454 (21,979) Deerfield Second Tranche - after FDA approval (1) 10,094 3,436 — Total 25,650 34,893 (45,411) (1) The fair value expense recognized during the year ended December 31, 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 year ended December 31, 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 consolidated statements of operations. See note 10, “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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche 5,664 8,389 4,756 Deerfield Second Tranche 2,020 2,029 — Total 7,684 10,418 4,756

Convertible loans

Convertible loans	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Senior secured term loan facility and warrants	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 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 at the end of each reporting period. 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 consolidated 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 year ended December 31, 2022, the Company recognized income of KUSD 2,962 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 December 31, 2022 was KUSD 995. The decrease in fair value of the warrant obligation from August 15, 2022 to December 31, 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 consolidated statement of operations. See note 10, "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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 8.30 Share price in USD 3.84 Risk-free interest rate 4.0 % Expected volatility 80 % Expected term (months) 55.5 months Dividend yield — Black-Scholes value in USD 1.89 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 year ended December 31, 2022, the Company recorded interest expense on the senior secured term loan in the amount of KUSD 5,845 which was recorded in Financial expense in the consolidated statement of operations. The EIR at December 31, 2022 was 16.10%. 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 at the end of each reporting period. The following table summarizes the changes in fair value income (expense) and profit or loss activity of the embedded conversion option derivatives during the years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche (1) 15,556 28,003 (23,432) Deerfield Second Tranche - prior to FDA approval (2) — 3,454 (21,979) Deerfield Second Tranche - after FDA approval (1) 10,094 3,436 — Total 25,650 34,893 (45,411) (1) The fair value expense recognized during the year ended December 31, 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 year ended December 31, 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 consolidated statements of operations. See note 10, “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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche 5,664 8,389 4,756 Deerfield Second Tranche 2,020 2,029 — Total 7,684 10,418 4,756

Deerfield Warrants

Deerfield Warrants	12 Months Ended
	Dec. 31, 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 is remeasured to fair value at the end of each reporting period. During the year ended December 31, 2022, the Company recognized income of KUSD 11,504 as a result of changes in the fair value of the warrant obligation. The fair value of the warrant obligation as of December 31, 2022 was KUSD 793. The decrease in fair value of the warrant obligation from August 15, 2022 to December 31, 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 consolidated statement of operations. See note 10, "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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 24.70 and 28.07 Share price in USD 3.84 Risk-free interest rate 4.3 % Expected volatility 70 % Expected term (months) 28.7 months Dividend yield — Black-Scholes value in USD 0.20 and 0.16

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Share capital	Share capital Share data has been revised to give effect to the share consolidation as explained in note 2 (iv), “Share consolidation.” On September 5, 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. During the fourth quarter of 2022, the Company issued 7,648,081 common shares to ADCT America pursuant to a subscription agreement and immediately repurchased these shares as treasury shares at par value to be used in connection with the ATM Facility. 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. 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 24, “Convertible loans” and note 2, “Basis of Preparation” for further information on this transaction and Share Subscription Agreement, respectively. The movements in the Company’s share capital, share premium and treasury shares accounts for the years ended December 31, 2022, 2021 and 2020 are set out in the following table: Issued share capital Share premium Treasury shares Increase / (Decrease) in net assets Price per share Issued share capital Treasury shares Outstanding share capital In KUSD Number of shares issued Number of shares (held or received) / delivered Number of shares outstanding Balance at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 April 15, 2020 Shares surrendered by Share Purchase Plan 2013 and Share Purchase Plan 2016 participants to settle share purchase plan promissory notes — 11,208 (11,208) — USD 18.75 — (597,774) (597,774) April 16, 2020 Issuance of shares per shareholder's agreement addendum through capitalization of reserves 393 (393) — — CHF 0.008 4,777,996 — 4,777,996 April 24, 2020 Elimination of fractional holdings — — — — CHF 0.008 — 51 51 May 19, 2020 Issuance of shares to be held as treasury 34 — (34) — CHF 0.008 408,873 (408,873) — May 19, 2020 Grant of shares to settle Incentive Plan 2014 awards, net — (29) 29 — CHF 0.008 — 356,144 356,144 May 19, 2020 Issuance of shares at IPO 1,007 231,661 — 232,668 USD 19.00 12,245,631 — 12,245,631 May 19, 2020 Sale of shares under greenshoe option — 23,591 11,309 34,900 USD 19.00 — 1,836,844 1,836,844 May 19, 2020 Transaction costs, IPO and greenshoe option — (23,355) — (23,355) — — — September 28, 2020 Issuance of shares at follow-on offering 519 203,481 — 204,000 USD 34.00 6,000,000 — 6,000,000 September 28, 2020 Transaction costs, follow-on offering — (15,084) — (15,084) — — — September 30, 2020 Other — — — — CHF 0.08 — 2,796 2,796 December 31, 2020 Shares issued for exercise of option awards — 54 — 54 CHF 0.08 — 2,895 2,895 Movements during the year ended December 31, 2020 1,953 431,134 96 433,183 23,432,500 1,192,083 24,624,583 Balances reported at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 Balance at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 April 1, 2021 Issuance of shares to be held as treasury 131 — (131) — CHF 0.008 1,500,000 (1,500,000) — January 1, 2021 - December 31, 2021 Exercise of options and vestings of RSUs — 771 7 778 — 88,935 88,935 Movements during the year ended December 31, 2021 131 771 (124) 778 1,500,000 (1,411,065) 88,935 Balances reported at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 Balance at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 August 15, 2022 Issuance of shares, Deerfield exchange agreement, net of transaction costs — 19,640 194 19,834 CHF 0.08 — 2,390,297 2,390,297 September 05, 2022 Issuance of shares to be held as treasury shares 254 — (254) — CHF 0.08 3,123,865 (3,123,865) — September 06, 2022 Issuance of shares, share purchase agreement, net of transaction costs — 6,070 60 6,130 CHF 0.08 — 733,568 733,568 January 1, 2022 - December 31, 2022 Vesting of RSUs — (62) 62 — — 708,184 708,184 November 01, 2022 Issuance of shares to be held as treasury, ATM Facility 613 (23) (613) (23) CHF 0.08 7,648,081 (7,648,081) — Movements during the year ended December 31, 2022 867 25,625 (551) 25,941 10,771,946 (6,939,897) 3,832,049 Balances reported at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 Balance at December 31, 2022 7,312 1,007,452 (679) 1,014,085 89,041,946 (8,399,419) 80,642,527 Authorized Capital The Board of Directors is authorized to increase the share capital at any time until June 9, 2023, by a maximum amount of CHF 2,460,268, by issuing a maximum of 30,753,351 common shares, fully paid up, with a par value of CHF 0.08 each. An increase of the share capital in partial amounts is permissible. Conditional Share Capital Conditional Share Capital for Financing Acquisitions and Other Purposes The Company’s nominal share capital may be increased, including to prevent takeovers and changes in control, by a maximum aggregate amount of CHF 1,432,776 through the issuance of not more than 17,909,703 common shares, which would have to be fully paid-in, each with a par value of CHF 0.08 per share, by the exercise of option and conversion rights granted in connection with warrants, convertible bonds or similar instruments of the Company or one of its subsidiaries. Shareholders will not have pre-emptive subscription rights in such circumstances, but may have advance subscription rights to subscribe for such warrants, convertible bonds or similar instruments. The holders of warrants, convertible bonds or similar instruments are entitled to the new shares upon the occurrence of the applicable conversion feature. Conditional Share Capital for Equity Incentive Plans The Company’s nominal share capital may, to the exclusion of the pre-emptive subscription rights and advance subscription rights of shareholders, be increased by a maximum aggregate amount of CHF 936,000 through the issuance of not more than 11,700,000 common shares, which would have to be fully paid-in, each with a par value of CHF 0.08 per share, by the exercise of options, other rights to receive shares or conversion rights that have been granted to employees, members of the board of directors, contractors or consultants of the Company or of one of its subsidiaries or other persons providing services to the Company or to a subsidiary through one or more equity incentive plans created by the board of directors. Dividend The Company did not declare a dividend during fiscal years 2022, 2021 or 2020.

Share-based compensation expens

Share-based compensation expense	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangements [Abstract]
Share-based compensation expense	Share-based compensation expense Share data have been revised to give effect to the share consolidation explained in note 2 (iv), “Share consolidation.” Share Purchase Plan 2013 and Share Purchase Plan 2016 Under the terms of the 2013 and 2016 promissory notes issued in connection with the Share Purchase Plan 2013 and Share Purchase Plan 2016, in the case of an IPO the relevant plan participants were required to repay the outstanding amounts under the promissory notes prior to the IPO by delivering a number of shares of equivalent value to cover the amount to be repaid. In anticipation of the IPO, each of the plan participants holding promissory notes entered into loan settlement agreements with the Company dated as of April 15, 2020 pursuant to which they repaid all amounts outstanding under the promissory notes, including accrued interest, by delivering a number of shares of equivalent value to cover the amounts outstanding under the promissory notes. After consideration of all relevant factors, the Board of Directors determined the value of such shares delivered pursuant to the loan settlement agreements as of the settlement date to be USD 18.75 per share, resulting in the delivery of an aggregate of 597,774 common shares by all plan participants for the settlement of the promissory notes. These shares were held by the Company as treasury shares. These transactions resulted in the termination of both plans on May 15, 2020. All compensation expense relating to the ADC Therapeutics SA 2013 Share Purchase Plan (the “Share Purchase Plan 2013”) was recognized in prior periods. During the year ended December 31, 2020, unrecognized expense relating to the Share Purchase Plan 2016 amounting to KUSD 6,425 was charged to the consolidated statement of operation with a corresponding increase to Other reserves within equity on the consolidated balance sheet on completion of these transactions. The amounts of expense for all awards recognized for services received during the year ended December 31, 2020 was KUSD 7,417 (including the KUSD 6,425 discussed above). There was no expense recognized for the Share Purchase Plan 2013 for the years ended December 31, 2022 and 2021. Incentive Plan 2014 All existing awards under the Incentive Plan 2014 vested and were settled in shares upon the completion of the IPO. The Company calculated for each participant the gain arising from the difference between the exercise price and the USD 19.00 IPO price, undertook to settle in cash on behalf of the participant any associated tax and social charges liability, and transferred to the participant the remaining balance from treasury shares, valued at USD 19.00 per share. A total of 356,144 common shares were transferred to participants and an amount of KUSD 5,343 was withheld for tax and social charges during fiscal year 2020. For participants whose awards had an exercise price greater than USD 19.00 — i.e., were “out-of-the-money” — the Company made an equal number of new awards under the Equity Incentive Plan 2019 (see below) with an exercise price of USD 19.00 and with a vesting period of only three years instead of the usual four years. These new awards have been accounted for as a modification of the previous awards under the Incentive Plan 2014. Accordingly, the original compensation expense calculated for the old awards that were “out-of-the-money” will continue to be recognized over their remaining vesting period while the expense to be recognized for the new awards under the 2019 Equity Incentive Plan will be limited to the incremental fair value of the new awards over the fair value, as of May 15, 2020, of the old awards. The amounts of expense for all awards recognized for services received during the period ended December 31, 2020 was KUSD 361. There was no expense recognized for the periods ended December 31, 2022 and 2021. 2019 Equity Incentive Plan In November 2019, the Company adopted the 2019 Equity Incentive Plan. Under the 2019 Equity Incentive Plan, 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 16,027,550 common shares for future issuance under the 2019 Equity Incentive Plan (including share-based equity awards granted to date less awards forfeited), which includes an additional 6,000,000 common shares approved by the Company’s board of directors on March 29, 2021 and an additional 2,207,550 common shares approved by the Company’s board of directors on November 16, 2022. As of December 31, 2022, the Company has 2,437,884 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 December 31, 2022, the Company has only granted share options, RSU’s and performance awards under the Equity Incentive Plan 2019. As of December 31, 2022 and 2021, the cumulative amount recorded as a net increase to Other Reserves within equity on the consolidated balance sheet in respect of the 2019 Equity Incentive Plan was KUSD 145,102 and KUSD 95,978. An amount of KUSD 1,315 and KUSD 75 was withheld for tax charges during fiscal years 2022 and 2021, respectively. The amounts of expense for all awards recognized for services received during the years ended December 31, 2022, 2021 and 2020 were KUSD 50,439, KUSD 60,555 and KUSD 35,150, respectively. Share Options Pursuant to the 2019 Equity Incentive Plan, 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 2019 Equity Incentive Plan 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 consolidated statement of operation and a corresponding increase to Other Reserves within equity on the consolidated balance sheet. The expense recognized for services received during the years ended December 31, 2022, 2021 and 2020 is KUSD 31,849, KUSD 50,647 and KUSD 33,355, respectively. Movements in the number of awards outstanding and their related weighted average strike prices are as follows: 2022 2021 2020 Average strike price in USD per share Number of awards Average strike price in USD per share Number of awards Average strike price in USD per share Number of awards At the beginning of the year 27.23 6,640,200 26.45 4,276,973 18.75 1,020,434 Granted 9.63 5,754,786 28.22 2,572,008 28.62 3,347,766 Forfeited 23.27 (1,358,167) 24.82 (165,724) 19.83 (88,332) Expired 27.53 (281,325) 18.75 (1,675) — — Exercised — — 18.81 (41,382) 18.75 (2,895) At the end of the year 18.30 10,755,494 27.23 6,640,200 26.45 4,276,973 Weighted average remaining contractual life of awards outstanding at end of period 8.46 8.70 9.29 The option awards granted during the year ended December 31, 2020 include 388,333 awards that were made to compensate holders of “out-of-the-money” awards under the Incentive Plan 2014 that expired on May 15, 2020. As of December 31, 2022, 3,760,408 awards are vested and exercisable out of the total outstanding awards of 10,755,494 common shares. As of December 31, 2022, the weighted average strike price and weighted average remaining life for vested and exercisable awards is USD 18.77 and 7.29 years, respectively. Awards outstanding as of December 31, 2022 have expiration dates through 2032. The weighted average grant date fair value of awards granted during the year ended December 31, 2022 was USD 6.24 per award (2021: USD 19.76 and 2020: USD 21.27). The fair values of the options granted after the IPO were determined on the date of the grant using the Black-Scholes option-pricing model. Prior to the IPO, the fair value of the options granted were determined using an adjusted form of the Black-Scholes option pricing model. The Company has used an independent valuation firm to assist in calculating the fair value of the award grants per participant. See note 6, “Critical accounting estimates and judgements.” The fair values of the options granted during the years ended December 31, 2022, 2021 and 2020 were determined on the date of grant using the following assumptions: Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Share price, in USD 3.04-19.69 19.94-32.22 15.95-48.77 Strike price, in USD 3.04-19.69 19.94-32.22 18.75-48.77 Expected volatility, in % 70-80 70-85 80-206 Award life, in years 6.08 5.50-6.08 5.02-6.08 Expected dividends — — — Risk-free interest rate, in % 1.46-4.13 0.51-1.33 0.29-0.70 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 expected volatility utilized after FDA approval of ZYNLONTA decreased from those used prior to FDA approval due to a change in the peer group. Prior to FDA approval, the Company utilized a peer group primarily comprised of clinical-stage companies. Upon receipt of FDA approval, the Company updated the peer group to primarily comprise of commercial-stage companies, which lowered the expected volatility assumption. The award life for options granted was 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 2019 Equity Incentive Plan, 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 date of grant. The RSUs may be settled only in common shares of the Company. Therefore, the grant of RSUs under the 2019 Equity Incentive Plan 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 consolidated statement of operation and a corresponding increase to Other Reserves within equity on the consolidated balance sheet. The expense recognized for services received during the years ended December 31, 2022, 2021 and 2020 is KUSD 18,590, KUSD 9,908 and KUSD 1,795, respectively. Number of awards Weighted average grant date fair value December 31, 2020 149,984 46.50 Granted 574,143 28.17 Vested (51,828) 45.56 Forfeited (9,244) 28.70 December 31, 2021 663,055 30.95 Granted 2,139,831 9.34 Vested (995,629) 15.12 Forfeited (221,380) 20.00 December 31, 2022 1,585,877 13.26 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 ended 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 recognized for services received during the year ended December 31, 2022 was KUSD 198. As of December 31, 2022, the Company recorded a liability of KUSD 450 related to the accumulated payroll deductions. This amount is included within Accrued expenses in other current liabilities in the consolidated balance sheet. Share-based Compensation Reserves The cumulative reserve position in the Share-based Compensation Reserves (included in Other reserves within equity) is as follows: (in KUSD) 2022 2021 2020 Incentive Plan 2014 — — 361 Share Purchase Plan 2016 — — 7,417 2019 Equity Incentive Plan - Options 31,849 50,647 33,355 2019 Equity Incentive Plan - RSUs 18,590 9,908 1,795 ESPP Expense 198 — — Tax and social charge deductions - Incentive Plan 2019 (1,315) (75) — Tax and social charge deductions - Incentive Plan 2014 — — (5,343) December 31, 49,322 60,480 37,585

Deferred royalty obligation

Deferred royalty obligation	12 Months Ended
	Dec. 31, 2022
Deferred Royalty Obligation [Abstract]
Deferred royalty obligation	Deferred royalty obligation Royalty purchase agreement On August 25, 2021, the Company entered into a royalty purchase agreement with certain entities managed by HCR for up to USD 325.0 million. Under the terms of the agreement, the Company received gross proceeds of USD 225.0 million upon closing (the “First Investment Amount”) and is eligible to receive an additional USD 75.0 million upon the first commercial sale of ZYNLONTA in the United Kingdom or any European Union country (the “Second Investment Amount”) and together with the First Investment Amount, the “Investment Amount”). Under the agreement, the Company is obligated to pay to HCR (i) a 7% royalty on the worldwide (excluding China, Hong Kong, Macau, Taiwan, Singapore and South Korea) net sales of ZYNLONTA and any product that contains ZYNLONTA and on any upfront or milestone payments the Company receives from licenses that it grants to commercialize ZYNLONTA or any product that contains ZYNLONTA in any region other than China, Hong Kong, Macau, Taiwan, Singapore and South Korea, (ii) a 7% royalty on the worldwide net sales of Cami and any product that contains Cami and on any upfront or milestone payments the Company receives from licenses that it grants to commercialize Cami or any product that contains Cami in the United States and Europe, and (iii) outside the United States and Europe, a 7% share of any upfront or milestone payments derived from licenses that the Company grants to commercialize Cami or any product that contains Cami and, in lieu of the royalty on net sales under such licenses, a mid-teen percentage share of the net royalty the Company receives from such licenses. These royalty rates are subject to potential upward adjustment, up to a maximum of 10%, based on performance tests in 2026 and 2027. The 7% royalty rates described above are subject to adjustment to a potential high-single-digit percentage royalty rate after September 30, 2026 and/or a 10% royalty rate after September 30, 2027, if the aggregate net sales and license revenue subject to royalty obligations in the preceding twelve months do not exceed certain mid-nine-digit milestones by such dates. The Company’s aggregate royalty obligations are capped at 2.50 times the amount paid by HCR under the agreement (USD 562.5 million as of December 31, 2022 and December 31, 2021), or at 2.25 times the amount paid by HCR under the agreement (USD 506.3 million as of December 31, 2022 and December 31, 2021) if HCR receives royalty payments exceeding a mid-nine-digit amount on or prior to March 31, 2029 (the “Royalty Cap”). Once the Royalty Cap is reached, the royalty purchase agreement will terminate. Upon the occurrence of a change in control event, the Company is obligated to pay HCR an amount equal to the Royalty Cap, less any amounts the Company previously paid to HCR. If the change in control event occurs prior to the 36-month anniversary of the closing of the royalty purchase agreement, the Company is obligated to pay HCR an amount equal to 2.0 times the amount paid by HCR, less any amounts the Company previously paid to HCR pursuant to the agreement (USD 438.8 million and USD 450.0 million as of December 31, 2022 and December 31, 2021, respectively). In addition, the Company retains the right, at any time after the 27-month anniversary of the closing of the royalty purchase agreement, to terminate the remaining royalty obligations under the agreement by paying HCR an amount equal to the Royalty Cap, less any amounts the Company previously paid to HCR pursuant to the agreement (such amount, the “Buyout Amount”), provided that HCR may instead elect to receive 50% of the Buyout Amount and continue to receive 50% of the royalty payments under the agreement but with the Royalty Cap reduced to reflect the Company’s payment of 50% of the Buyout Amount. During the year ended December 31, 2021, the Company received gross proceeds of USD 225.0 million before deducting transaction costs of USD 7.0 million, all of which were paid during 2021, which resulted in net proceeds of USD 218.0 million. During December 31, 2022, no additional proceeds were received. Accounting for royalty purchase agreement The Company has evaluated the terms of the royalty purchase agreement and concluded that the features of the Investment Amount are similar to those of a debt instrument. Accordingly, the Company has accounted for the transaction as a short-term and long-term debt obligation which are recorded within Other current liabilities and Deferred royalty obligation, long-term, respectively, within the Company’s consolidated balance sheet. Interest expense is recorded in Financial expense within the Company’s consolidated statement of operation. The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement. (in KUSD) Liability balance at 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 Liability balance at December 31, 2021 225,477 Less: royalty payments 10,998 Plus: interest expense 23,200 Less: cumulative catch-up adjustment, Financial income 15,402 Liability balance at December 31, 2022 222,277 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. During the year ended December 31, 2022 and December 31, 2021, the Company made royalty payments to HCR of KUSD 10,998 and KUSD 213, respectively. 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. The Company recorded a total cumulative catch-up adjustment of KUSD 15,402 recorded as Financial income for the year ended December 31, 2022. The total cumulative catch-up adjustment was based on revised revenue forecasts used in the valuation model, which revisions were primarily attributable to updates made for the Company’s 2022 strategic planning decisions, including updated development plans. Under the cumulative catch-up method, the EIR is not revised when actual or estimated net sales differ from those estimated as of the inception of the debt obligation. Instead, the carrying amount of the debt obligation is adjusted to an amount equal to the present value of the estimated remaining future payments, discounted by using the original EIR, 10%, as of the date on which the estimate changes.

Share capital

Share capital	12 Months Ended
	Dec. 31, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Share capital	Share capital Share data has been revised to give effect to the share consolidation as explained in note 2 (iv), “Share consolidation.” On September 5, 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. During the fourth quarter of 2022, the Company issued 7,648,081 common shares to ADCT America pursuant to a subscription agreement and immediately repurchased these shares as treasury shares at par value to be used in connection with the ATM Facility. 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. 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 24, “Convertible loans” and note 2, “Basis of Preparation” for further information on this transaction and Share Subscription Agreement, respectively. The movements in the Company’s share capital, share premium and treasury shares accounts for the years ended December 31, 2022, 2021 and 2020 are set out in the following table: Issued share capital Share premium Treasury shares Increase / (Decrease) in net assets Price per share Issued share capital Treasury shares Outstanding share capital In KUSD Number of shares issued Number of shares (held or received) / delivered Number of shares outstanding Balance at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 April 15, 2020 Shares surrendered by Share Purchase Plan 2013 and Share Purchase Plan 2016 participants to settle share purchase plan promissory notes — 11,208 (11,208) — USD 18.75 — (597,774) (597,774) April 16, 2020 Issuance of shares per shareholder's agreement addendum through capitalization of reserves 393 (393) — — CHF 0.008 4,777,996 — 4,777,996 April 24, 2020 Elimination of fractional holdings — — — — CHF 0.008 — 51 51 May 19, 2020 Issuance of shares to be held as treasury 34 — (34) — CHF 0.008 408,873 (408,873) — May 19, 2020 Grant of shares to settle Incentive Plan 2014 awards, net — (29) 29 — CHF 0.008 — 356,144 356,144 May 19, 2020 Issuance of shares at IPO 1,007 231,661 — 232,668 USD 19.00 12,245,631 — 12,245,631 May 19, 2020 Sale of shares under greenshoe option — 23,591 11,309 34,900 USD 19.00 — 1,836,844 1,836,844 May 19, 2020 Transaction costs, IPO and greenshoe option — (23,355) — (23,355) — — — September 28, 2020 Issuance of shares at follow-on offering 519 203,481 — 204,000 USD 34.00 6,000,000 — 6,000,000 September 28, 2020 Transaction costs, follow-on offering — (15,084) — (15,084) — — — September 30, 2020 Other — — — — CHF 0.08 — 2,796 2,796 December 31, 2020 Shares issued for exercise of option awards — 54 — 54 CHF 0.08 — 2,895 2,895 Movements during the year ended December 31, 2020 1,953 431,134 96 433,183 23,432,500 1,192,083 24,624,583 Balances reported at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 Balance at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 April 1, 2021 Issuance of shares to be held as treasury 131 — (131) — CHF 0.008 1,500,000 (1,500,000) — January 1, 2021 - December 31, 2021 Exercise of options and vestings of RSUs — 771 7 778 — 88,935 88,935 Movements during the year ended December 31, 2021 131 771 (124) 778 1,500,000 (1,411,065) 88,935 Balances reported at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 Balance at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 August 15, 2022 Issuance of shares, Deerfield exchange agreement, net of transaction costs — 19,640 194 19,834 CHF 0.08 — 2,390,297 2,390,297 September 05, 2022 Issuance of shares to be held as treasury shares 254 — (254) — CHF 0.08 3,123,865 (3,123,865) — September 06, 2022 Issuance of shares, share purchase agreement, net of transaction costs — 6,070 60 6,130 CHF 0.08 — 733,568 733,568 January 1, 2022 - December 31, 2022 Vesting of RSUs — (62) 62 — — 708,184 708,184 November 01, 2022 Issuance of shares to be held as treasury, ATM Facility 613 (23) (613) (23) CHF 0.08 7,648,081 (7,648,081) — Movements during the year ended December 31, 2022 867 25,625 (551) 25,941 10,771,946 (6,939,897) 3,832,049 Balances reported at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 Balance at December 31, 2022 7,312 1,007,452 (679) 1,014,085 89,041,946 (8,399,419) 80,642,527 Authorized Capital The Board of Directors is authorized to increase the share capital at any time until June 9, 2023, by a maximum amount of CHF 2,460,268, by issuing a maximum of 30,753,351 common shares, fully paid up, with a par value of CHF 0.08 each. An increase of the share capital in partial amounts is permissible. Conditional Share Capital Conditional Share Capital for Financing Acquisitions and Other Purposes The Company’s nominal share capital may be increased, including to prevent takeovers and changes in control, by a maximum aggregate amount of CHF 1,432,776 through the issuance of not more than 17,909,703 common shares, which would have to be fully paid-in, each with a par value of CHF 0.08 per share, by the exercise of option and conversion rights granted in connection with warrants, convertible bonds or similar instruments of the Company or one of its subsidiaries. Shareholders will not have pre-emptive subscription rights in such circumstances, but may have advance subscription rights to subscribe for such warrants, convertible bonds or similar instruments. The holders of warrants, convertible bonds or similar instruments are entitled to the new shares upon the occurrence of the applicable conversion feature. Conditional Share Capital for Equity Incentive Plans The Company’s nominal share capital may, to the exclusion of the pre-emptive subscription rights and advance subscription rights of shareholders, be increased by a maximum aggregate amount of CHF 936,000 through the issuance of not more than 11,700,000 common shares, which would have to be fully paid-in, each with a par value of CHF 0.08 per share, by the exercise of options, other rights to receive shares or conversion rights that have been granted to employees, members of the board of directors, contractors or consultants of the Company or of one of its subsidiaries or other persons providing services to the Company or to a subsidiary through one or more equity incentive plans created by the board of directors. Dividend The Company did not declare a dividend during fiscal years 2022, 2021 or 2020.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2022
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Commitments	Commitments The Company has contractual obligations as follows: Collaborations and co-operations with development partners The Company has entered into various collaborations with development partners, including in-licensing and manufacturing agreements. These agreements provide for the Company to make potential future milestone and royalty payments that are conditional on success, and that are spread over various stages of development and commercialization, including achieving preclinical proof of concept, filing an investigational new drug (“IND”) application, commencing or completing multiple clinical development stages, obtaining regulatory approval in multiple countries, and achieving various levels of commercial sales. Due to the nature of these arrangements, the future potential payments related to the attainment of the specified milestones are inherently uncertain, and accordingly, no amounts have been recorded for these future potential payments in the Company’s consolidated balance sheet as of December 31, 2022 and 2021. As of December 31, 2022, the aggregate amount of such potential milestone payments, under all such collaboration agreements, was KUSD 434,313 (2021: KUSD 446,575). These milestone payments relate to product candidates in the following phases: (in KUSD): R&D Phase Development Regulatory Sales-based Total Pre-clinical 54,861 20,500 188,655 264,016 Phase I 40,559 19,150 103,900 163,609 Phase II 6,688 — — 6,688 December 31, 2022 102,108 39,650 292,555 434,313 R&D Phase Development Regulatory Sales-based Total Pre-clinical 55,111 25,000 192,055 272,166 Phase I 41,225 19,150 103,900 164,275 Phase II 10,134 — — 10,134 December 31, 2021 106,470 44,150 295,955 446,575 The net decrease in the aggregate milestone payments from December 31, 2021 primarily relates to amendments entered into on the Company’s existing agreements as well as pre-clinical and Phase I milestones achieved in fiscal year 2022. See note 17, “Intangible assets” for further details. As of December 31, 2022, the Company had one candidate, CAMI, evaluated in a phase II clinical trial. Cami is the subject of a collaboration and license agreement with Genmab A/S (“Genmab”), under which there are no upfront or future milestone payments payable and no revenue receivable. On October 30, 2020, the Company announced that it amended its existing collaboration and license agreement with Genmab for the continued development and commercialization of Cami. Under the terms of the amended and restated license agreement, the parties have agreed to eliminate the defined divestment process which was agreed in 2013 and that envisaged, among other things, offering the opportunity for third parties to continue the development and commercialization of Cami. The parties have also agreed, among other things, that Genmab will convert its economic interest in Cami into a mid-to-high single-digit tiered royalty on net sales. Cami is subject to manufacturing agreements under which payment of the amounts indicated under Phase II above could become payable upon the achievement of certain milestones, none of which were achieved as of December 31, 2022.

Contingent liabilities

Contingent liabilities	12 Months Ended
	Dec. 31, 2022
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Contingent liabilities	Contingent liabilitiesThe Group has no contingent liabilities in respect of legal claims arising in the ordinary course of business. There are no material legal proceedings to which the Company is a party.

Related parties

Related parties	12 Months Ended
	Dec. 31, 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. The Company has identified the following related parties and related transactions. A.T. Holdings II Sàrl (“AT Holdings II”) is a shareholder in the Company. AT Holdings II is in turn ultimately entirely 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”). 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 The Company provides certain administrative services to three subsidiaries of ATH and provides Overland ADCT BioPharma clinical supply for use in trials and supply for early access programs, the amounts of which have been deemed immaterial. 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 year ended December 31, 2022, the Company incurred KUSD 2,768 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 consolidated statement of operations (2021: KUSD 2,268 and 2020: KUSD nil). Services provided to the Company There were no material services provided to the Company during 2022, 2021 or 2020 by related parties. Other transactions with related parties Of the 597,774 shares surrendered by Share Purchase Plan 2013 and Share Purchase Plan 2016 participants to settle share purchase plan promissory notes on April 15, 2020 (see note 28, “Share capital”), 556,799 were surrendered by related parties. Of the 4,777,996 shares issued by way of capitalization of reserves on April 16, 2020 (see note 28, “Share capital”), 1,222,966 shares were issued to related parties. In connection with the Company’s IPO, HPWH TH AG purchased 950,000 shares on the same terms as other investors. In connection with the Company’s follow-on offering Auven Therapeutics GP Ltd., through A.T. Holdings II Sàrl and ADC Products Switzerland Sàrl (“the Selling Shareholders”) granted to the underwriters an option to purchase up to 900,000 additional common shares at the public offering price of USD 34.00 per share, less underwriting discounts and commissions. On October 9, 2020, the underwriters exercised in full their option to purchase an additional 900,000 common shares from the Selling Shareholders at a price of USD 34.00, less underwriting discounts and commissions. The Company did not receive any proceeds or incur any costs related to the sale of these shares by the Selling Shareholders. The Selling Shareholders incurred all costs in addition to underwriting fees and commissions. Chairman’s equity awards The Company granted the Chairman, Mr. Squarer, options to acquire 1,125,545 common shares at USD 18.75 per share in connection with his election to the Board of Directors, representing approximately 2% of our then-outstanding share capital. These options are scheduled to vest upon Mr. Squarer’s continued service through designated dates over a three-year period, or immediately upon a change in control. In accordance with its agreement with Mr. Squarer, the Company provided Mr. Squarer with an additional grant of 341,403 options on June 4, 2020 with an exercise price equal to the fair market value of the Company’s shares on that date, to bring Mr. Squarer’s total rights to acquire the Company’s shares to 2% of the then-outstanding share capital (measured without consideration of the shares underlying these grants). Related party balances The Company had a related party receivable balance with Overland ADCT BioPharma of KUSD 805 and KUSD 789 as of December 31, 2022 and December 31, 2021, respectively. There was KUSD 20 in trade accounts payable with related parties as of December 31, 2022 (2021: KUSD nil). Key management compensation The compensation of key management is shown below: (in KUSD) Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Salaries and other short-term employee costs 10,582 8,872 7,690 Pension costs 426 442 455 Share-based compensation expense 23,323 24,649 16,752 Other compensation 241 142 196 Total 34,572 34,105 25,093 During 2022, there was an organizational realignment of certain key management as a result of the appointment of the Company's new CEO and other key executives. The key management compensation for 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	12 Months Ended
	Dec. 31, 2022
Earnings per share [abstract]
Loss per share	Loss per share The basic loss per share is calculated by dividing the net loss attributable to shareholders by the weighted average number of shares in issue during the period, excluding common shares owned by the Company and held as treasury shares, as follows: For the Years Ended December 31, (in KUSD, except per share amounts) 2022 2021 2020 Loss attributable to owners (155,800) (230,026) (246,290) Weighted average number of shares outstanding (1) 78,152,964 76,748,204 65,410,292 Basic and diluted loss per share (1.99) (3.00) (3.77) (1) Share data have been revised to give effect to the share consolidation as explained in note 2 (iv) as all Class B, C, D and E preferred shares were converted into common shares upon the completion of the IPO, loss per share data are presented on that basis for all periods. For the year ended December 31, 2022, 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, 2022 ESPP and the Company’s warrant agreements, as the effect of including those shares would be anti-dilutive. For the years ended December 31, 2021 and 2020, 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 2019 Equity Incentive Plan and the conversion of the principal amount of the convertible loans into the Company’s common shares as the effect of including those shares would be anti-dilutive. See note 26, “Share-based compensation expense,” note 23, “Senior secured term loan facility and warrants,” note 25, “Deerfield warrants” and note 24, “Convertible loans” for further information. 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: For the Years Ended December 31, 2022 2021 2020 2019 Equity Incentive Plan - Share Options 11,156,101 5,951,115 2,904,673 2019 Equity Incentive Plan - RSUs 1,633,507 495,879 63,281 Conversion of the principal amount of convertible loans into the Company's common shares — 3,866,261 1,665,465 Outstanding warrants 4,940,135 — — 2022 ESPP 130,348 — — 17,860,091 10,313,255 4,633,419

Foreign currency exchange rate

Foreign currency exchange rate	12 Months Ended
	Dec. 31, 2022
Effects Of Changes In Foreign Exchange Rates [Abstract]
Foreign currency exchange rate	Foreign currency exchange rate The following exchange rates have been used for the translation of the financial statements of ADCT UK, the functional currency of which is the British pound: USD / GBP Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Closing rate, GBP 1 1.2097 1.3512 1.3650 Weighted average exchange rate, GBP 1 1.1847 1.3741 1.2842

Product revenues, net

Product revenues, net	12 Months Ended
	Dec. 31, 2022
Revenue From Contracts With Customers [Abstract]
Product revenues, net	evenue recognition Product revenue, net 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 sole source of product revenue, which commenced during May 2021, has been sales of ZYNLONTA and is only in the U.S. Product revenues, net were KUSD 74,908 and KUSD 33,917 in the years ended December 31, 2022 and December 31, 2021, respectively. The Company records its best estimate of GTN sales adjustments to which customers are likely to be entitled. See note 3, “Significant accounting policies” for further information. The table below provides a rollforward of the Company’s accruals related to the GTN sales adjustments for the year ended December 31, 2022 and December 31, 2021. Year Ended December 31, (in KUSD) 2022 2021 Beginning balance 2,590 — GTN sales adjustments for current year sales 15,200 5,493 GTN sales adjustments for prior year sales (549) — Credits, payments and reclassifications to Accounts payable (13,495) (2,903) Ending balance as of December 31, 3,746 2,590 The table below provides the classification of the accruals related to the GTN sales adjustment included in the Company’s consolidated balance sheet as of December 31, 2022 and December 31, 2021. (in KUSD) December 31, 2022 December 31, 2021 Accounts receivable, net 2,151 1,204 Other current liabilities 1,595 1,386 3,746 2,590

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventory [Abstract]
Disclosure of inventories [text block]	Inventory Inventory as of December 31, 2022 and December 31, 2021 consisted of the following: (in KUSD) December 31, 2022 December 31, 2021 Work in progress 18,165 10,562 Finished goods (1) 399 560 Total inventory 18,564 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.

Interests in joint venture

Interests in joint venture	12 Months Ended
	Dec. 31, 2022
Interests In Other Entities [Abstract]
Interests in joint venture	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 (collectively, the “Licensed Products”), in greater China and Singapore (the “Territory”). The Company agreed to supply product to Overland ADCT BioPharma for its drug development and commercialization under a supply agreement entered into between the parties. Under the terms of the license agreement between the Company and Overland ADCT BioPharma, the Company licensed exclusive development and commercialization rights to the Licensed Products (the “Licensed IP”) in the Territory to Overland ADCT BioPharma. Overland invested USD 50.0 million in Overland ADCT BioPharma, and is obligated to pay the Company potential development milestone payments related to ADCT-601, ADCT-602 and ADCT-901, for a 51% equity interest. The Company received a 49% equity interest in exchange for contribution of the Licensed IP. The Company and Overland have appointed an equal number of nominees to the board of directors of Overland ADCT BioPharma which includes the Chief Executive Officer of Overland ADCT BioPharma. Pursuant to the license agreement, the Company may also earn low to mid-single digit royalties on net sales of the Licensed Products. In addition, Overland ADCT BioPharma elected to participate in the Company’s global clinical trials. The Company also received an option, which it may exercise at its sole discretion, to exchange any or all of its equity interest in Overland ADCT BioPharma into an equity interest in Overland upon an initial public offering of Overland. Given the uncertainty of an initial public offering of Overland, the Company did not assign any value to the option. In connection with the formation of Overland ADCT BioPharma, the Company determined the fair value of its equity interest by implying a total equity value of Overland ADCT BioPharma using Overland’s investment of USD 50.0 million and the fair value of the contingent milestone consideration for Overland’s 51% equity interest. The fair value of the contingent consideration was determined to be nominal due to the high uncertainty related to achieving certain conditions associated with the contingent consideration as of the closing date. The fair value of the Company’s equity interest as of December 31, 2020 was determined to be KUSD 48,040, which resulted in the Company recognizing a gain of KUSD 24,501 and a deferred gain of KUSD 23,539. The gain was recognized within Share of results with joint venture in the Company’s Consolidated Statement of Operation for the year ended December 31, 2020. The table below provides a rollforward of the Company’s interest in Overland ADCT BioPharma as of December 31, 2022 and 2021. (in KUSD) Interest in joint venture January 1, 2021 47,908 Share of results with joint venture (6,672) December 31, 2021 41,236 Share of results in joint venture (10,084) December 31, 2022 31,152 As of December 31, 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, 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 December 31, 2022 December 31, 2021 Cash and cash equivalents 19,261 39,318 Prepaid and other current assets 2 15 Intangible assets 49,249 48,040 Total liabilities (3,062) (2,828) Net assets 65,450 84,545 (in KUSD) For the Years Ended Summarized Statement of Comprehensive Loss December 31, 2022 December 31, 2021 December 31, 2020 Operating expenses 20,228 13,876 269 Other income (1,232) (259) — Net loss 18,996 13,617 269

Events after reporting period

Events after reporting period	12 Months Ended
	Dec. 31, 2022
Events After Reporting Period [Abstract]
Events after the reporting date	Events after the reporting date The Company has evaluated its subsequent events through March 15, 2023, the date the financial statements were available to be issued, and has concluded that there are no subsequent events requiring disclosure in the consolidated financial statements, other than the item described below. On January 30, 2023, the Company expanded the square footage of its existing lease related to its U.K. office. The lease commences on January 30, 2023 and expires on January 27, 2031, and includes an option to terminate early on January 26, 2026. The Company is reasonably certain it will not terminate the lease early and therefore will account for the lease using an eight-year lease term. Total rent payments through January 27, 2031 are estimated to be USD 7.9 million. On February 2, 2023, the Company entered into a letter agreement (the “Auven Agreement”) with A.T. Holdings II Sàrl (“A.T. Holdings II”), pursuant to which the Company agreed to assist A.T. Holdings II effect the registration under the Securities Act of 1933, as amended (the “Securities Act”), of at least 12,000,000 common shares held by it and to facilitate the potential public offering of such common shares. No other registration rights have been granted to A.T. Holdings II for any other shares. The public offering contemplated by the Auven Agreement occurred on February 2, 2023. On February 8, 2023 the Company's board of directors approved an additional 1,713,805 common shares which increased the number of common shares which may be granted under the 2019 Equity Incentive Plan to 17,741,355 common shares. On March 6, 2023, the Company commenced a tender offer with employees to exchange eligible options for new options as detailed in our Schedule TO filed March 6, 2023 with the Securities and Exchange Commission (the “Exchange Offer”), to, among other things, further align employee incentives with the current market. The Exchange Offer will expire on April 3, 2023, unless extended or earlier terminated, and new options are expected to be granted on or around April 4, 2023. Approximately 256 employees holding stock options to purchase 3.2 million common shares, with exercise prices ranging from USD 8.12 per share to USD 48.77 per share, are eligible to participate in the Exchange Offer, and assuming all eligible stock options are exchanged and cancelled, approximately 1.4 million new stock options will be granted based on the exchange ratios set forth in the Exchange Offer. The new awards will include additional vesting conditions. The Company will continue to recognize share-based compensation expense equal to the grant date fair value of the exchanged options plus the incremental share-based compensation expense, if any, of the new options when granted. The incremental share-based compensation expense associated with this Exchange Offer will be measured as the excess of the fair value of each award of new options granted to participants in this Exchange Offer, measured as of the date the new options are granted, over the fair value of the eligible options replaced in exchange for the new options, measured immediately prior to the replacement. The amount of incremental share-based compensation expense, if any, will depend on a number of factors, including the level of participation in this Exchange Offer, the exercise price per share of the eligible options exchanged in the Exchange Offer and the exercise price per share of the new options. Since these factors cannot be predicted with any certainty as of the date of the Exchange Offer and will not be known until the fair value is determined on the expiration date of April 4, 2023, the Company cannot predict the exact amount of the incremental share-based compensation expense that will result from this Exchange Offer, if any. The Company will recognize any such incremental share-based compensation expense ratably over the vesting period of the new options.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Compliance with International Financial Reporting Standards	Compliance with International Financial Reporting Standards The ADCT Group consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). As of December 31, 2022, the financial statements are presented in thousand dollars (KUSD). Prior to December 31, 2021, individual components of Non-operating (expense) income were reported separately within the consolidated statement of operations. Prior periods have been recast to conform to the current period presentation. See note 10, “Non-operating (expense) income” for further information.
Historical Cost Convention	Historical Cost ConventionThe consolidated financial statements have been prepared under the historical cost convention, except for the defined benefit pension liabilities, where plan assets are measured at fair value. The embedded derivative conversion feature associated with the first and second tranche of convertible loans was measured at fair value for the year ended December 31, 2021, December 31, 2020 and up until the loans were exchanged on August 15, 2022. See note 24, “Convertible loans” for further discussion. The warrant obligations associated with the senior secured term loan facility and Deerfield warrants entered into on August 15, 2022 were measured at fair value for the year ended December 31, 2022. See note 23, “Senior secured term loan facility and warrants” and note 25, “Deerfield warrants” for additional information.
Going concern basis	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 2020 fiscal year, the Company issued common shares through an initial public and follow-on offering (see 2(v) and 2(vi) within this note) and the issuance of convertible loans (see note 24, “Convertible loans”). During the 2021 fiscal year, the Group entered into a royalty purchase agreement (see note 27, “Deferred royalty obligation”). 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 23, "Senior secured term loan facility and warrants", note 24, "Convertible loans" and note 28, "Share capital" 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 December 31, 2022, the Group’s cash and cash equivalents amounted to USD 326.4 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 consolidated financial statements and, as a result, is presenting these consolidated financial statements of the Group on a going concern basis.
Consolidation	ConsolidationThe annual closing date of the individual financial statements is December 31. Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. All intercompany transactions have been eliminated.
Foreign currency translation	Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the Group entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The consolidated financial statements are presented in US dollars (“USD” or “Dollars”), which is the Company’s functional and Group’s presentation currency. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in consolidated statement of operation. All foreign exchange gains and losses are presented in the consolidated statement of operation within “Exchange differences”. Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; (ii) income and expenses for each consolidated statement of operation are translated at monthly average exchange rates; and (iii) all resulting exchange differences are recognized in other comprehensive loss, under “Cumulative translation adjustments”.
Cash and cash equivalents	Cash and cash equivalentsCash and cash equivalents includes cash on hand, deposits held at call with external financial institutions and other short-term highly liquid investments with original maturities to the Company of three months or less. They are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Any bank overdrafts are not netted against cash and cash equivalents but are shown as part of current liabilities on the consolidated balance sheet.
Accounts receivable	Accounts receivableAccounts receivable arise from license agreements and product sales and consists of amounts due from customers, net of customer allowances for chargebacks, product returns and estimated credit losses. Upon the launch of ZYNLONTA, the Company’s contracts with customers had initial payment terms that ranged from 30 to 150 days. 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 to 90 days. As of December 31, 2022, Accounts receivable included the USD 50 million in license revenue for the approval of the Marketing Authorisation Application by the European Commission for ZYNLONTA in third-line DLBCL. When determining customer allowances for estimated credit losses, the Company analyzes accounts that are past due, the creditworthiness of its customers, current economic conditions and, when sufficient historical data becomes available, actual credit losses incurred by the Company. As of December 31, 2022, the Company did not record an allowance for expected credit losses as it was considered immaterial.
Inventory	InventoryPrior to receiving FDA approval of ZYNLONTA, the Company had written down inventory costs relating to the manufacture of ZYNLONTA to a net realizable value of zero. The Company believed that capitalization of inventory costs associated with certain products prior to regulatory approval of such products, or for inventory produced in new production facilities, was only appropriate when management considered it highly probable that pre-approval inventory costs would be recoverable through future sales of the drug product. The determination to capitalize was based on the particular facts and circumstances related to the expected regulatory approval of the product or production facility being considered and, accordingly, the time frame within which the determination was made varied from product to product. The impairment charges were recorded as Research and development (“R&D”) expenses in the Company’s consolidated statement of operation. Upon the receipt of FDA approval for ZYNLONTA during the year ended December 31, 2021, the Company reversed KUSD 8,100 of previously recorded impairment charges. The reversal of previously recorded impairment charges was based on a number of factors existing at that time, including the existence of inventory on hand and estimated demand, as well as expiration dating. The reversal of impairment charges was recorded as a gain to R&D expenses in the Company’s consolidated statement of operation. For the year ended December 31, 2022, the Company designated certain capitalized pre-approval ZYNLONTA inventory for R&D use and recorded a charge to R&D expenses, which was partially offset by a reversal of previously recorded impairment charges. The Company recorded an expense to R&D in the Company’s consolidated statement of operation for the year ended December 31, 2022 of KUSD 75. Inventory of ZYNLONTA is stated at the lower of cost or net realizable value with costs determined on a first-in, first-out basis. The Company assesses the recoverability of capitalized inventory during each reporting period and will write down excess or obsolete inventory to its net realizable value in the period in which the impairment is identified within Cost of product sales in the consolidated statement of operation. See note 9, “Operating expenses” for further information. Included in inventory of ZYNLONTA are materials used in the production of preclinical and clinical products, which are charged to R&D expenses when consumed. The Company will continue to assess the likelihood that inventory costs associated with its other drug product candidates are recoverable through future sales of such product candidates to determine if and when such costs should be capitalized as inventory or be expensed to R&D expenses. The assessment of whether or not the product is considered highly probable to be saleable will be made on a quarterly basis and includes, but is not limited to, how far a particular product or facility has progressed along the approval process, any known safety or efficacy concerns, potential labeling restrictions and other impediments. If it is determined that inventory costs associated with a product candidate are not highly probable to be recovered through future sales, the Company would record such costs to R&D expenses. See note 14, “Inventory” for further information.
Property, plant and equipment	Property, plant and equipmentAll property, plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items.
Intangible assets	Intangible assets Licenses Licenses acquired are capitalized as intangible assets at historical cost. Licenses with definite-useful lives are amortized over their useful lives, which are determined on a 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. Prior to regulatory and marketing approval, licenses are treated as indefinite-lived assets and not amortized. These licenses are tested annually for impairment in the last quarter of each fiscal year and more frequently if events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Prior to regulatory and marketing approval, impairment of indefinite-lived licenses is charged to R&D expenses. Subsequent to regulatory and marketing approval, amortization of licenses will be charged to Cost of product sales over the licenses’ estimated useful lives. The useful life of definite-lived intangible assets will depend upon the legal term of the individual patent in the country in which the patent is obtained. In determining the useful life, the Company utilizes the last-to-expire period of exclusivity (primary patent or regulatory approval) related to the primary marketed drug product. The Company may be able to obtain a patent term extension. However, the Company will only consider the inclusion of an extension period to the extent the Company believes it is highly probable of being granted. See note 17, “Intangible assets” for further information. Internally generated intangible assets Internal R&D costs are fully charged to R&D expenses in the period in which they are incurred. The Group considers that regulatory and other uncertainties inherent in the development of new products preclude the capitalization of internal development expenses as an intangible asset until marketing approval from a regulatory authority is obtained in a major market such as the United States, the European Union or China. Payments made to third parties, such as contract R&D organizations in compensation for subcontracted R&D, that are deemed not to transfer intellectual property to ADCT are expensed as internal R&D expenses in the period in which they are incurred. Such payments are only 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. These internally generated intangible assets are recorded as an indefinite-lived intangible asset until regulatory approval is achieved and/or commercial launch. At that point, the asset will become a definite-lived intangible asset and the Company will commence amortization of the asset based on a systematic and rational approach. See note 17, “Intangible assets” for further information.
Investments in joint ventures	Investments in joint venturesA joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. An investment in a joint venture is accounted for using the equity method from the date on which the investee becomes a joint venture. Under the equity method, an investment in a joint venture is recognized initially in the consolidated balance sheet at cost and adjusted thereafter to recognize the Company’s share of the profit or loss, other comprehensive income or loss of the joint venture, distributions from the joint venture and other adjustments to the Company’s proportionate interest in the joint venture. The Company’s initial investment is recorded as an Interest in joint venture in the consolidated balance sheet. The Company’s proportionate share of net income or losses of equity investments is included within Share of results with joint venture in the consolidated statement of operation. 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 below, 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. In connection with the Company’s initial investment, the gain resulting from the transaction was only recognized to the extent of the unrelated investors’ equity interest in the joint venture, which resulted in a deferred gain for a portion of the Company’s initial investment. The Company will begin to recognize the deferred gain upon the commercialization of any or all the licensed intellectual property by the joint venture. The deferred gain will be recognized over the estimated commercialization period in which a licensed product is developed and approved using a systematic approach that approximates the pattern of consumption of the licensed intellectual property by the joint venture. Investments accounted for under the equity method are assessed for potential impairment on a regular basis based on qualitative factors. See note 18, “Interest in joint venture” for further information.
Impairment of non-financial assets	Impairment of non-financial assetsNon-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows, adjusted for the risks specific to each asset, are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the general risks affecting the pharmaceutical industry. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash flows of other assets (“cash-generating units”). Impairment losses are recognized in the consolidated statement of operation. Prior impairments of non-financial assets are reviewed for possible reversal of the impairment at each reporting date.
Employee benefits	Employee benefits Employee Benefit Programs Group companies operate defined benefit and defined contribution pension schemes in accordance with the local conditions and practices in the countries in which they operate. The defined benefit schemes are generally funded through payments to insurance companies or trustee-administered funds, determined by periodic actuarial calculations. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity (a fund) and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. However, as is the case with many Swiss pension plans, although the amount of ultimate pension benefit is not defined, certain legal obligations of the plan nevertheless create constructive obligations on the employer to pay further contributions to fund an eventual deficit. This results in the plan being accounted for as a defined benefit plan. The liability recognized in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity that approximate the terms of the related pension obligation. The current service cost of the defined benefit plan, recognized in the consolidated statement of operation in employee benefit expenses, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current year. Past service costs, resulting from a plan amendment or curtailment, are recognized immediately in the consolidated statement of operation. The net interest cost is calculated by applying the discount rate to the net balance of the present value of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expenses in the consolidated statement of operation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity within the consolidated statement of other comprehensive loss in the period in which they arise. For defined contribution plans, the company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. Once the contributions have been paid, the company has no further payment obligations. The contributions are recognized as employee benefit expenses in the consolidated statement of operation. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. See note 22, “Pension obligations” for further information. Share-based compensation expense The fair value of shares or options granted, respectively, under share purchase or share option plans is recognized as an employee share-based compensation expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the shares or options granted: – including any market and other performance conditions; – excluding the impact of any service and non-market performance vesting conditions; and – including the impact of any non-vesting conditions. The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the entity revises its estimate of the number of options that are expected to vest based on the non-market vesting and service conditions. It recognizes the impact of the revision to original estimate, if any, within the consolidated statement of operation, with a corresponding adjustment to equity. The proceeds received upon the exercise of options are net of any directly attributable transaction costs and are credited directly to equity. See note 26, “Share-based compensation expense” for further information. 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 until the shares are purchased by the participant at the end of the offering period. See note 26, “Share-based compensation” for further information.
Share capital and share premium	Share capital and share premium Share capital The Company has issued one class of common shares, which is classified as equity (see note 28, “Share capital”). Share premium Amounts of contribution in excess of par value are accounted for as share premium. Share premium also arises from additional capital contributions from shareholders. Incremental costs directly attributable to equity transactions such as the issue of new capital shares are shown in equity as a deduction, net of tax, from the proceeds within share premium. Transaction costs that relate to equity and non-equity transactions are allocated to those transactions using a basis of allocation that is rational and a consistent methodology with previous transactions.
Treasury shares	Treasury sharesTreasury shares are recognized at acquisition cost and deducted from shareholders’ equity at the time of acquisition, until they are cancelled. Where such shares are subsequently sold, any consideration received is included in shareholders’ equity.
Leases	Leases This policy concerns instances where a Group company is the lessee. Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and the finance cost. The finance cost is charged to the consolidated statement of operation over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right-of-use assets are measured at cost comprising the following: – the amount of the initial measurement of lease liability; – any lease payments made at or before the commencement date less any lease incentives received; – any initial direct costs; and – restoration costs. The lease term is considered to be the non-cancellable period of a lease, together with both: – periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; and – periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. Assumptions as to whether the Company is reasonably likely to exercise any extension or termination options have been individually assessed based on the Company’s plans. The policy of recognizing right-of-use assets and lease liabilities is not applied to short-term (under 12 months) or low value leases. For deferred tax purposes, the Group considers the net effect of temporary differences arising from the right-of-use asset and the lease liabilities. See note 16, “Leases” for further information.
Deferred royalty obligations	Deferred royalty obligation On August 25, 2021, the Company entered into a royalty purchase agreement with certain entities managed by HealthCare Royalty Management, LLC (HCR). The Company evaluated the terms of the royalty purchase agreement and concluded that the features of the investment amount are similar to those of a debt instrument. Accordingly, the Company accounted for the initial cash received as debt, less transaction costs, and will subsequently account for the value of the debt at amortized cost. The amounts received by the Company will be accreted to the total estimated amount of the royalty payments necessary to extinguish the Company’s obligation under the agreement, which will be recorded as interest expense. The carrying value of the debt will decrease for royalty payments made to HCR based on actual net sales and licensing revenue. The Company must 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 will record a cumulative catch-up adjustment to the deferred royalty obligation. The adjustment to the carrying amount is recognized in earnings as an adjustment to Financial income (expense) in the period in which the change in estimate occurred. See note 27, “Deferred royalty obligation” for further information.
Convertible loans	Convertible loans The Company entered into a USD 115.0 million Facility Agreement (the “Facility Agreement”) on April 24, 2020, pursuant to which Deerfield agreed to extend senior secured convertible term loans to the Company in two separate disbursements: (i) an initial disbursement of convertible loans in the amount of USD 65.0 million upon the completion of the IPO, and satisfaction of certain other conditions (the “first tranche”) and (ii) a subsequent disbursement of convertible loans in the amount of USD 50.0 million upon the receipt of regulatory approval for ZYNLONTA, and satisfaction of certain other conditions (the “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 loans 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. Accounting for the first and second tranches On May 19, 2020, the Company received the first tranche of convertible loans in the amount of USD 65.0 million upon completion of the IPO. Prior to the exchange, these convertible loans were recognized as a hybrid financial instrument and accounted for as two separate components: (i) a loan and (ii) an embedded conversion option derivative. (i) The embedded conversion option derivative was initially measured at fair value and was subsequently remeasured to fair value at each reporting date up until the exchange occurred. Under IAS 32, this derivative could have been classified as a component of equity only if in all cases the contract would be settled by the Company delivering a fixed number of its own equity instruments in exchange for a fixed amount of cash or debt redemption. However, the agreement foresees, in the event of a major transaction, the payment of “make-whole” amounts that would have to be computed in the light of the circumstances and are therefore not fixed. As a result, the derivative was presented in the balance sheet as a liability and classified as non-equity in accordance with IFRS 9 and IAS 32. Prior to the exchange, changes in the fair value (gains or losses) of the derivative at the end of each period were recorded in the consolidated statement of operation. (ii) The convertible loan’s initial fair value was the residual amount of the consideration received, net of attributable costs, after separating out the fair value of the embedded conversion option derivative. The loan was subsequently measured at its amortized cost in accordance with IFRS 9. Prior to the exchange, it was presented as a financial liability in the consolidated balance sheet. On May 17, 2021, the Company drew down the second tranche of convertible loans in the amount of USD 50.0 million upon the receipt of FDA approval of ZYNLONTA. Prior to the exchange, these convertible loans were recognized as a hybrid financial instrument and accounted for as two separate components: (i) a loan and (ii) an embedded conversion option derivative. The Company accounted for the two separate components similar to the first tranche of convertible loans. Prior to the drawdown of the second tranche, the Company accounted for the second tranche as a derivative. Expenses and fees payable upon the issuance of the first and second tranches of convertible loans were allocated pro rata to the above two components. The share of expenses allocated to the embedded conversion option derivative was charged directly to the consolidated statement of operation, while the share of expenses allocated to the residual convertible loan was deducted from the loan. See note 24, “Convertible loans” for further information. 3.16. 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 23, “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 consolidated 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 consolidated 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 consolidated 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 consolidated 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 consolidated 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. See note 23, “Senior secured term loan facility and warrants” for further information. 3.17. 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 consolidated 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 consolidated statement of operations.
Revenue recognition	Revenue recognition Revenue from the sale of products is recognized in a manner that depicts the transfer of those promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for these goods or services. To achieve this core principle, the Company follows a five-step model: (i) identify the customer contract; (ii) identify the contract’s performance obligation; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations; and (v) recognize revenue when, or as, a performance obligation is satisfied. Product revenue The Company generates revenue from sales of ZYNLONTA in the U.S. for the treatment of relapsed or refractory DLBCL, which was approved by the FDA on April 23, 2021 and launched shortly thereafter. Revenue is recognized when control is transferred to the customer at the net selling price, which includes reductions for gross-to-net (“GTN”) sales adjustments such as government rebates, chargebacks, distributor service fees, other rebates and administrative fees, sales returns and allowances and sales discounts. GTN sales adjustments involve significant estimates and judgment after considering factors including legal interpretations of applicable laws and regulations, historical experience and drug product analogs in the absence of Company experience, payer channel mix, current contract prices under applicable programs, unbilled claims and processing time lags and inventory levels in the distribution channel. The Company also uses information from external sources to identify prescription trends, patient demand, average selling prices, discarded volumes and sales return and allowance data for the Company and analog drug products. The Company’s estimates are subject to inherent limitations of estimates that rely on third-party information, as certain third-party information was itself in the form of estimates, and reflect other limitations including lags between the date as of which third-party information is generated and the date on which the Company receives third-party information. Estimates will be assessed each period and adjusted as required to revise information or actual experience. License arrangements 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.
Cost of product sales	Cost of product salesCost of product sales primarily includes direct and indirect costs relating to the manufacture of ZYNLONTA from third-party providers of manufacturing, distribution and logistics, intangible asset amortization expense, and royalties to a collaboration partner based on net product sales of ZYNLONTA. Inventory amounts written down as a result of excess or obsolescence are charged to Cost of product sales.
Research and development (R&D) expenses	R&D expensesResearch expenditure is recognized in expense in the year in which it is incurred. Internal development expenses are capitalized only if it meets the recognition criteria of IAS 38 “Intangible Assets”. Where regulatory and other uncertainties are such that the criteria are not met, which is almost invariably the case prior to approval of the drug by the relevant regulatory authority, the expenditure is recognized in the consolidated statement of operation. When certain criteria are met, the Company capitalizes the internal development expenses as internally generated intangible assets and amortizes the asset over its estimated useful life based on a systematic and rational approach.
Selling and marketing ("S&M") expenses	Selling and marketing (“S&M”) expensesS&M expense is expensed when incurred and include employee expenses (including share-based compensation expense) for commercial employees, external costs related to commercialization (including professional fees, communication costs and IT costs, travel expenses and depreciation of property, plant and equipment). To date, facility expense and depreciation of right-of-use assets have not been material.
General and administrative ("G&A") expenses	General and administrative (“G&A”) expensesG&A expense is expensed when incurred and include employee expenses (including share-based compensation expense) for G&A employees, external costs (including in particular professional fees, communications costs and IT costs, facility expenses and travel expenses), G&A costs charged by related parties (including telecommunications costs), depreciation of property, plant and equipment, depreciation of right-of-use assets and amortization of intangible assets.
Current, deferred income tax and tax credit	Current, deferred income tax and tax credit The tax expense for the period comprises current and deferred tax. Tax is recognized in the consolidated statement of operation, except to the extent that it relates to items recognized in other comprehensive loss or directly in equity; in this case the related tax is recognized in other comprehensive loss or directly in equity, respectively. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Taxes on income are accrued in the same periods as the revenues and expenses to which they relate. Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. Deferred income tax is recognized, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. The deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences or the unused tax losses can be utilized. Deferred income tax assets from tax credit carryforwards are recognized to the extent that the national tax authority confirms the eligibility of such a claim and that the realization of the related tax benefit through future taxable profits is probable. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. See note 11, “Income tax expense” and note 20, “Deferred income taxes and tax credits” for additional information.
Loss per share	Loss per shareBasic loss per share is calculated by dividing the net loss attributable to shareholders by the weighted average number of common shares in issue during the year, excluding common shares owned by the Company and held as treasury shares. See note 32, “Loss per share.”Diluted loss per share adjusts the shares used in the determination of basic loss per share to take into account the after-tax effect of interest and other financing costs associated with potentially dilutive common shares, if applicable, and the weighted average number of ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares (share option plans, 2022 ESPP, outstanding warrants and convertible loans). See note 26, “Share-based compensation expense”, note 23, “Senior secured term loan facility and warrants”, note 24, “Convertible loans” and note 25, “Deerfield warrants”, respectively, for additional information.
Segment reporting	Segment reportingThe 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.
New, amended, and recently adopted 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. New standards, amendments to standards and interpretations that are not yet effective, which have been deemed by the Group as currently not relevant, and hence are not listed here.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies, Changes, Accounting Estimates And Errors [Abstract]
Schedule of property, plant and equipment useful lives	Depreciation is calculated using the straight-line method to reduce the cost of each asset to its residual value over its estimated useful life, as follows: Leasehold improvements 3 to 10 years Laboratory equipment 5 years Office equipment 5 years Hardware 3 years (in KUSD) Leasehold Laboratory Office Hardware Construction in progress Total Cost January 1, 2021 746 1,002 671 870 67 3,356 Additions 1,761 1,250 308 111 — 3,430 Transfers 67 — — — (67) — Disposals and scrapping (272) — (24) — — (296) Exchange difference (53) (24) (10) — — (87) December 31, 2021 2,249 2,228 945 981 — 6,403 Additions 21 555 1 — — 577 Exchange difference (188) (251) (54) (2) — (495) December 31, 2022 2,082 2,532 892 979 — 6,485 Accumulated depreciation January 1, 2021 (362) (594) (457) (314) — (1,727) Depreciation charge (312) (251) (99) (258) — (920) Disposals and scrapping 272 — 24 — — 296 Exchange difference 3 9 2 — — 14 December 31, 2021 (399) (836) (530) (572) — (2,337) Depreciation charge (226) (436) (124) (231) — (1,017) Exchange difference 12 96 21 1 — 130 December 31, 2022 (613) (1,176) (633) (802) — (3,224) Net book amount December 31, 2021 1,850 1,392 415 409 — 4,066 December 31, 2022 1,469 1,356 259 177 — 3,261 Depreciation of property, plant and equipment has been charged to the following categories in the consolidated statement of operation: Year Ended December 31, (in KUSD) 2022 2021 2020 R&D expense 840 751 589 S&M expense (1) 80 67 — G&A expense 97 102 185 1,017 920 774 (1) Depreciation expense for S&M was not material for year ended December 31, 2020.

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Schedule of cash and cash equivalents	The Group's cash and cash equivalents are denominated in the following currencies: 2022 2022 2021 2021 December 31 in KL/C (1) in KUSD in KL/C (1) in KUSD In USD 319,568 319,568 462,306 462,306 In CHF 116 125 580 635 In GBP 4,111 4,974 2,162 2,921 In EUR 1,658 1,774 601 682 326,441 466,544 _______________ (1) Thousands Local Currencies
Schedule of financial liabilities	The table below analyzes the Group's financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. (in KUSD) Note Less than 1-3 3-5 More than Trade accounts payable 12,351 — — — Lease liabilities, contractual rent 1,284 2,380 2,323 2,456 Senior secured term loan, interest and exit fee (1) 14,840 29,882 30,440 27,272 Senior secured term loan, principal 23 — — — 120,000 Deferred royalty obligation (2) 27 4,885 — — — At December 31, 2022 (2) 33,360 32,262 32,763 149,728 Trade accounts payable 12,080 — — — Lease liabilities, contractual rent 1,235 2,122 1,962 3,706 Convertible loan, interest and exit fee 6,938 13,894 6,672 — Convertible loan, principal 24 — — 115,000 — Deferred royalty obligation (2) 27 1,191 — — — At December 31, 2021 (2) 21,444 16,016 123,634 3,706 (1) The interest on the senior secured term loans is variable and dependent upon market factors. The EIR will get updated at the end of each reporting period for changes in the rate.

Non-operating income (Tables)

Non-operating income (Tables)	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Schedule of Other income (expense)	Year Ended December 31, (in KUSD) Note 2022 2021 2020 Convertible loans, derivatives, change in fair value income (expense) 24 25,650 34,893 (45,411) Convertible loans, derivatives, transaction costs — (148) (1,571) Loss on extinguishment 24 (42,114) — — Deerfield warrant obligation, change in fair value income 25 11,504 — — Senior secured term loan facility, warrants, transaction costs 23 (245) — — Senior secured term loan facility, warrants, change in fair value income 23 2,962 — — Share of results with joint venture 18 (10,084) (6,672) 24,368 Exchange differences (loss) gain (110) 50 (576) R&D tax credit 357 366 584 Non-operating (expense) income (12,080) 28,489 (22,606)

Employee expenses (Tables)

Employee expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Schedule of Employee expenses	Year Ended December 31, (in KUSD) Note 2022 2021 2020 Wages, salaries and other costs 85,660 78,748 44,058 Social security costs 12,622 10,433 7,292 Share-based compensation expense 26 50,637 60,555 42,928 Defined benefit plan costs 22 1,076 436 966 Defined contribution plan costs 3,019 1,894 727 Employee expenses 153,014 152,066 95,971

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2022
Analysis of income and expense [abstract]
Schedule of Expenses by nature	The following table provides the consolidated statement of operation classification of our total operating expense: Year Ended December 31, (in KUSD) Note 2022 2021 2020 COGS 4,579 1,393 — R&D External costs (1) 116,550 91,875 97,768 Employee expenses (2) 8 71,348 66,127 44,264 R&D expense 187,898 158,002 142,032 S&M External costs (3) 35,752 28,817 11,887 Employee expenses (2) 8 33,300 35,963 10,214 S&M expense 69,052 64,780 22,101 G&A External costs (1) 23,640 21,486 13,637 Employee expenses (2) 8 48,366 49,976 41,493 G&A expense 72,006 71,462 55,130 Total operating expense 333,535 295,637 219,263 (1) Includes depreciation expense (2) Includes share-based compensation expense (3) Includes depreciation expense for Property, plant and equipment (“PP&E”) for the year ended December 31, 2022. All other depreciation expense was not material for the year ended December 31, 2022. Depreciation expense was not material for year ended December 31, 2021 and 2020.

Income tax expense (Tables)

Income tax expense (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Disclosure Of Major Components Of Tax Expense (Income)	Year Ended December 31, (in KUSD) 2022 2021 2020 Current: Current income taxes for the year 3,145 3,644 417 Current income tax (benefit) expense related to prior years (1,298) 926 (90) Total current income tax expense 1,847 4,570 327 Deferred: Recognition of previously unrecognized tax credits 11 (22,745) — Origination and reversal of tax credits (1,080) (2,311) — Other 361 (993) — Total deferred income tax benefit (708) (26,049) — Income tax expense (benefit) 1,139 (21,479) 327
Disclosure Of Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates	The tax on the Group's net loss before tax differs from the theoretical amount that would arise using the weighted average applicable tax rate as follows: Year Ended December 31, (in KUSD) 2022 2021 2020 Loss before taxes 154,661 251,505 245,963 Pre-tax book income at the applicable statutory rate 20,191 34,060 33,319 Tax effects of: Tax losses for which no deferred income tax asset is recognized (18,908) (31,138) (26,112) State income taxes - U.S. 654 2,704 — Recognition of previously unrecognized R&D tax credits and deductible temporary differences 22 22,270 — R&D tax credit - U.S. 6,110 7,232 546 Non-deductible expenses (8,023) (13,665) (8,166) Other (1,185) 16 86 Income tax (expense) benefit (1,139) 21,479 (327)

Other current assets (Tables)

Other current assets (Tables)	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Other Current Assets	(in KUSD) December 31, 2022 December 31, 2021 VAT receivable, net 400 364 Withholding tax receivable 363 23 Prepaid insurance 2,747 3,416 Prepaid compensation 1,422 1,489 Prepaid expenses 3,143 2,457 Prepaid income tax 7,983 — Prepaid and other CMC, research and clinical expenses 8,001 7,988 Cost sharing arrangement receivable 2,869 1,106 UK R&D expenditure credit receivable 492 455 Interest Receivable 619 — 28,039 17,298

Non-current assets by geograp_2

Non-current assets by geographic area (Tables)	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Non-current assets by geographic area	(in KUSD) Country December 31, 2022 December 31, 2021 Switzerland 46,975 56,680 United Kingdom 6,779 8,165 United States 1,739 1,203 55,493 66,048

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, plant and equipment [abstract]
Schedule of property, plant and equipment useful lives	Depreciation is calculated using the straight-line method to reduce the cost of each asset to its residual value over its estimated useful life, as follows: Leasehold improvements 3 to 10 years Laboratory equipment 5 years Office equipment 5 years Hardware 3 years (in KUSD) Leasehold Laboratory Office Hardware Construction in progress Total Cost January 1, 2021 746 1,002 671 870 67 3,356 Additions 1,761 1,250 308 111 — 3,430 Transfers 67 — — — (67) — Disposals and scrapping (272) — (24) — — (296) Exchange difference (53) (24) (10) — — (87) December 31, 2021 2,249 2,228 945 981 — 6,403 Additions 21 555 1 — — 577 Exchange difference (188) (251) (54) (2) — (495) December 31, 2022 2,082 2,532 892 979 — 6,485 Accumulated depreciation January 1, 2021 (362) (594) (457) (314) — (1,727) Depreciation charge (312) (251) (99) (258) — (920) Disposals and scrapping 272 — 24 — — 296 Exchange difference 3 9 2 — — 14 December 31, 2021 (399) (836) (530) (572) — (2,337) Depreciation charge (226) (436) (124) (231) — (1,017) Exchange difference 12 96 21 1 — 130 December 31, 2022 (613) (1,176) (633) (802) — (3,224) Net book amount December 31, 2021 1,850 1,392 415 409 — 4,066 December 31, 2022 1,469 1,356 259 177 — 3,261 Depreciation of property, plant and equipment has been charged to the following categories in the consolidated statement of operation: Year Ended December 31, (in KUSD) 2022 2021 2020 R&D expense 840 751 589 S&M expense (1) 80 67 — G&A expense 97 102 185 1,017 920 774 (1) Depreciation expense for S&M was not material for year ended December 31, 2020.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of quantitative information about right-of-use assets	The following tables provide balance sheet classification related to leases: (in KUSD) December 31, 2022 December 31, 2021 Properties (offices) 6,669 7,080 Vehicles 51 84 Total right-of-use assets 6,720 7,164 (in KUSD) Right-of-Use Assets Properties (Offices) Vehicles Total Cost January 1, 2021 5,324 78 5,402 Additions 5,662 56 5,718 Lease termination (1,873) — (1,873) Exchange difference (108) — (108) December 31, 2021 9,005 134 9,139 Additions 1,234 — 1,234 Lease termination (386) — (386) Exchange difference (542) — (542) December 31, 2022 9,311 134 9,445 Accumulated depreciation January 1, 2021 (2,253) (20) (2,273) Depreciation charge (1,551) (30) (1,581) Lease termination 1,873 — 1,873 Exchange difference 6 — 6 December 31, 2021 (1,925) (50) (1,975) Depreciation charge (1,160) (33) (1,193) Lease termination 386 — 386 Exchange difference 57 — 57 December 31, 2022 (2,642) (83) (2,725) Net book amount December 31, 2021 7,080 84 7,164 December 31, 2022 6,669 51 6,720 Depreciation of right-of-use assets have been charged to the following categories in the consolidated statement of operation: For the Years Ended (in KUSD) 2022 2021 2020 R&D expenses 946 1,342 915 G&A expenses 247 239 236 1,193 1,581 1,151 Depreciation expense for S&M was deemed to be not material.
Schedule of quantitative information about lease liabilities	(in KUSD) December 31, 2022 December 31, 2021 Lease liabilities (short-term) 1,097 1,029 Lease liabilities (long-term) 6,564 6,994 Total lease liabilities 7,661 8,023 (in KUSD) Lease liabilities Properties (Offices) Vehicles Total January 1, 2021 3,402 65 3,467 Additions 5,662 56 5,718 Cash outflow (including interest) (1,169) (33) (1,202) Interest 222 3 225 Exchange difference (219) 34 (185) December 31, 2021 7,898 125 8,023 Additions 1,234 — 1,234 Cash outflow (including interest) (1,166) (36) (1,202) Interest 189 2 191 Exchange difference (548) (37) (585) December 31, 2022 7,607 54 7,661 December 31, 2021 Lease liabilities (short-term) 994 35 1,029 Lease liabilities (long-term) 6,904 90 6,994 December 31, 2022 Lease liabilities (short-term) 1,061 36 1,097 Lease liabilities (long-term) 6,546 18 6,564

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in intangible assets and goodwill	Indefinite lived Definite lived Licenses Internal development costs Internal development costs Licenses Software Total Cost January 1, 2021 11,144 — — — 168 11,312 Additions 2,293 631 — 600 14 3,538 Transfers (452) — — 452 (6) (6) December 31, 2021 12,985 631 — 1,052 176 14,844 Additions 695 323 — — 110 1,128 Transfers — (954) 954 — — — Exchange difference — — — — (8) (8) December 31, 2022 13,680 — 954 1,052 278 15,964 Accumulated amortization January 1, 2021 (1,069) — — — (64) (1,133) Amortization charge — — — (50) (79) (129) December 31, 2021 (1,069) — — (50) (143) (1,262) Amortization charge — — — (75) (43) (118) Impairment charge (226) — — — — (226) Exchange difference — — — — 2 2 December 31, 2022 (1,295) — — (125) (184) (1,604) Net book amount December 31, 2021 11,916 631 — 1,002 33 13,582 December 31, 2022 12,385 — 954 927 94 14,360 Amortization and impairment of intangible assets have been charged to the following categories in the consolidated statement of operation: (in KUSD) Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Cost of product sales 75 50 — R&D expenses 255 12 230 G&A expenses 14 67 33 344 129 263

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Schedule of financial assets	The accounting policies for financial instruments have been applied as indicated below: (in KUSD) Note December 31, 2022 December 31, 2021 Financial assets Cash and cash equivalents 5.1 / 19b 326,441 466,544 Accounts receivable, net 3.4 72,971 30,218 Other current assets (excluding prepaid expenses) 12 4,743 1,948 Other long-term assets 903 693 Total financial assets (1) 405,058 499,403
Schedule of financial liabilities	(in KUSD) Note December 31, 2022 December 31, 2021 Financial liabilities Accounts payable 12,351 12,080 Other current liabilities 21 73,035 50,497 Lease liabilities, short-term and long-term 16 7,661 8,023 Senior secured term loans, short-term and long-term 23 109,714 — Convertible loans, short-term and long-term 24 — 93,728 Convertible loans, derivatives 24 — 37,947 Warrant obligations 23, 25 1,788 — Deferred royalty obligation 27 222,277 225,477 Income taxes payable — 3,754 Total financial liabilities (1) 426,826 431,506 Net financial position (21,768) 67,897 (1) Financial assets and Financial liabilities are recorded at historical or amortized cost with the exception of Convertible loans, derivatives and Warrant obligations which are recorded at fair value.
Schedule of net debt rollforward	The following is the net debt rollforward for the Company for 2021 and 2022. Notes Cash and cash equivalents Convertible loan (1) Embedded derivatives (1) Derivatives (1) Deferred royalty obligation (2) Lease liabilities (3) Total January 1, 2021 439,195 (38,406) (51,229) (21,979) — (3,467) 324,114 Issuance of convertible loan 24 50,000 (50,368) (18,158) 20,341 — — 1,815 Fair value adjustments 24 — — 31,440 1,638 — — 33,078 Convertible loan transaction costs 24 (557) 409 — — — — (148) Convertible loan accretion 24 — (10,418) — — — — (10,418) Interest payments 16, 24 (5,280) 5,055 — — — 225 — Issuance of deferred royalty obligation 27 225,000 — — — (225,000) — — Deferred royalty transaction costs 27 (6,998) — — — 6,998 — — Deferred royalty obligation accretion and cumulative catch-up 27 — — — — (7,688) — (7,688) Deferred royalty obligation payments 27 (213) — — — 213 — — Lease additions 16 — — — — — (5,718) (5,718) Lease principal 16 (977) — — — — 977 — Other lease activity including foreign exchange 16 — — — — — (40) (40) Net cash outflow (233,632) — — — — — (233,632) Foreign exchange on cash 6 — — — — — 6 December 31, 2021 466,544 (93,728) (37,947) — (225,477) (8,023) 101,369 Notes Cash and cash equivalents Senior secured term loans (4) Warrant obligations (4)(5) Convertible loan (1) Embedded derivatives (1) Deferred royalty obligation (2) Lease liabilities (3) Total January 1, 2022 466,544 — — (93,728) (37,947) (225,477) (8,023) 101,369 Fair value adjustments 23, 24, 25 — — 14,466 — 25,650 — — 40,116 Convertible loan and senior secured term loan accretion 24 — (5,845) — (7,684) — — — (13,529) Interest payments 23, 24 (10,368) 4,987 — 5,190 — — 191 — Senior secured term loan transaction costs 23 (7,432) 7,187 — — — — — (245) Issuance of senior secured term loan facility 23 120,000 (116,043) (3,957) — — — — — Loss on extinguishment 24 — — — (22,082) — — — (22,082) Deerfield loan exchange 24, 25 (118,304) — — 118,304 — — — — Issuance of Deerfield warrants 25 — — (12,297) — 12,297 — — — Deferred royalty obligation accretion and cumulative catch- up 27 — — — — — (7,798) — (7,798) Deferred royalty obligation payments 27 (10,998) — — — — 10,998 — — Lease additions 16 — — — — — — (1,234) (1,234) Lease principal 16 (1,011) — — — — — 1,011 — Other lease activity including foreign exchange 16 — — — — — — 394 394 Net cash outflow (111,782) — — — — — — (111,782) Foreign exchange on cash (208) — — — — — — (208) December 31, 2022 326,441 (109,714) (1,788) — — (222,277) (7,661) (14,999) (1) See note 24, “Convertible loans” for further information. (2) See note 27, “Deferred royalty obligation” for further information. (3) See note 16, “Leases” for further information. (4) See note 23, “Senior secured term loan facility and warrants” for further information. (5) See note 25, “Deerfield warrants” for further information.
Schedule of credit quality	: (in KUSD) December 31, 2022 December 31, 2021 Cash and cash equivalents UBS 105,183 154,961 Credit Suisse 110,338 157,098 JP Morgan Chase 654 1,295 Bank of America 110,266 153,190 326,441 466,544

Deferred income taxes and tax_2

Deferred income taxes and tax credit (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Schedule Of Detailed Information On Deferred Income Taxes	The components of Deferred income tax as of December 31, 2022 and 2021 are as follows: (in KUSD) As of December 31, 2022 As of December 31, 2021 U.S. Federal R&D credits 21,200 21,213 U.S. State R&D credits 4,924 3,843 Other items 633 993 Total 26,757 26,049
Disclosure Of Federal And State Deferred Tax Assets Related To Research And Development Tax Credit	U.S. federal and state R&D credits associated with recognized deferred tax assets are scheduled to expire in future years through 2042 as follows: (in KUSD) December 31, 2022 December 31, 2021 2026 14 — 2036 385 61 2037 111 — 2038 — — 2039 937 5,552 2040 8,429 8,429 2041 5,736 7,232 2042 6,123 — Total 21,735 21,274
Schedule of unrecognized temporary differences, unused tax losses and unused tax credits	nused tax losses, unrecognized temporary differences and unused tax credits Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognized are attributable to the following: (in KUSD) December 31, 2022 December 31, 2021 Tax losses 926,350 818,946 Unused U.S. State R&D tax credits 918 907 Deductible (taxable) temporary differences (25,924) (40,380) Total 901,344 779,473
Schedule of years of exipry for tax losses and tax credits to be carried forward	Tax losses not recognized and to be carried forward (in KUSD): Years of expiry December 31, 2022 December 31, 2021 2022 — 31,128 2023 38,441 38,441 2024 92,012 92,012 2025 121,866 121,866 2026 118,943 118,943 2027 190,928 190,928 Beyond 2028 364,160 225,628 926,350 818,946 As described above, Deferred income tax assets from U.S. R&D tax credit carryforwards are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. On this basis, the Group has not recognized deferred tax assets related to the following state tax credits carryforwards: (In KUSD) Years of expiry December 31, 2022 December 31, 2021 2038 363 352 2039 275 275 2040 280 280 918 907

Accrued liabilities and other_2

Accrued liabilities and other payables (Tables)	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Accrued liabilities and other payables	(in KUSD) December 31, 2022 December 31, 2021 Payroll and social charges 16,306 16,063 R&D costs 40,171 20,320 GTN sales adjustments (1) 1,595 1,386 Other (2) 14,963 12,728 73,035 50,497 (1) See note 7, “Revenue recognition.” (2) Other includes the short-term component of the Deferred royalty obligation as of December 31, 2022 and 2021. See note 27, “Deferred royalty obligation.”

Pension obligations (Tables)

Pension obligations (Tables)	12 Months Ended
	Dec. 31, 2022
Employee Benefits [Abstract]
Schedule of movement in the net defined benefit obligation	The net amount recognized on the balance sheet comprises: (in KUSD) December 31, 2022 December 31, 2021 Present value of defined benefit obligation for funded plan 12,446 14,919 Fair value of plan assets (12,446) (11,267) Deficit of funded plan: liability on the balance sheet — 3,652 The movement in the net defined benefit obligation over the year is as follows: (in KUSD) Present value Fair value of Total Defined benefit plan - pension costs: January 1, 2021 11,809 (8,266) 3,543 Current service cost 1,080 — 1,080 Impact of plan changes (651) — (651) Interest cost / (income) 23 (16) 7 Defined benefit plan - pension costs 452 (16) 436 Employee contributions 404 (404) — Employer contributions — (801) (801) Transfers from joiners' previous plans 1,968 (1,968) — 2,372 (3,173) (801) Exchange differences (382) 269 (113) Remeasurements: Change in financial assumptions (310) — (310) Other actuarial losses 978 — 978 Plan asset gains — (81) (81) Remeasurements 668 668 (81) 587 December 31, 2021 14,919 (11,267) 3,652 (in KUSD) Present value Fair value of Total Defined benefit plan - pension costs: January 1, 2022 14,919 (11,267) 3,652 Current service cost 1,234 — 1,234 Impact of plan changes (171) — (171) Interest cost / (income) 53 (40) 13 Defined benefit plan - pension costs 1,116 (40) 1,076 Employee contributions 466 (466) — Employer contributions — (967) (967) Transfers from joiners' previous plans 6 (6) — 472 (1,439) (967) Exchange differences (223) 177 (46) Remeasurements: Change in financial assumptions (3,445) — (3,445) Other actuarial (gains) losses (393) 194 (199) Plan asset gains — (71) (71) Remeasurements (3,838) (3,838) 123 (3,715) December 31, 2022 12,446 (12,446) —
Schedule of actuarial assumptions	The principal actuarial assumptions used for accounting purposes are as follows for all periods presented: 2022 2021 Discount rate 2.30 % 0.35 % Interest credited on savings accounts 2.30 % 0.35 % Future salary increases 1.50 % 1.50 % Future pension increases 0.00 % 0.00 %
Schedule of actuarial assumptions	The average life expectancy in years after retirement of a pensioner retiring at age 65 (male) and 64 (female) on the balance sheet date is as follows: 2022 2021 Male 22.70 22.57 Female 25.48 25.37
Schedule of sensitivity of defined benefit obligation	The sensitivity of the defined benefit obligation and of the service cost to changes in the weighted principal assumption is: 2022 Increase in Impact on defined Decrease in Impact on defined Discount rate 0.25 % (4.00) % (0.25) % 4.30 % Future salary increases 0.50 % 0.30 % (0.50) % (0.30) % Interest credited on savings accounts 0.50 % 2.20 % (0.50) % (2.10) % Future pension increases 0.50 % 5.60 % (0.50) % (5.10) % 2021 Increase in Impact on defined Decrease in Impact on defined Discount rate 0.25 % (4.90) % (0.25) % 5.30 % Future salary increases 0.50 % 0.60 % (0.50) % (0.60) % Interest credited on savings accounts 0.50 % 2.70 % (0.50) % (2.60) % Future pension increases 0.50 % 6.70 % (0.50) % (6.10) %
Schedule of plan assets	Investments by asset class are as follows: (in KUSD) December 31, 2022 December 31, 2021 Cash 793 85 Bonds 6,586 6,320 Shares 553 531 Real estates and mortgages 3,602 3,457 Alternative investments 912 875 12,446 11,268
Schedule of defined benefit plan reserves	The movement in the defined benefit plan reserves (included in “Other reserves”) is as follows: (in KUSD) 2022 2021 January 1 (3,281) (2,694) Remeasurements of defined benefit pension plan 3,715 (587) December 31 434 (3,281)

Senior secured term loan faci_2

Senior secured term loan facility and warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments [Abstract]
Schedule of key inputs used for valuation	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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 8.30 Share price in USD 3.84 Risk-free interest rate 4.0 % Expected volatility 80 % Expected term (months) 55.5 months Dividend yield — Black-Scholes value in USD 1.89 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 %
Schedule of borrowings	Transaction costs associated to the warrant obligation have been charged directly to the consolidated 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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche 5,664 8,389 4,756 Deerfield Second Tranche 2,020 2,029 — Total 7,684 10,418 4,756 (in KUSD) Liability balance at 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 Liability balance at December 31, 2021 225,477 Less: royalty payments 10,998 Plus: interest expense 23,200 Less: cumulative catch-up adjustment, Financial income 15,402 Liability balance at December 31, 2022 222,277

Convertible loans (Tables)

Convertible loans (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche (1) 15,556 28,003 (23,432) Deerfield Second Tranche - prior to FDA approval (2) — 3,454 (21,979) Deerfield Second Tranche - after FDA approval (1) 10,094 3,436 — Total 25,650 34,893 (45,411) (1) The fair value expense recognized during the year ended December 31, 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 year ended December 31, 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	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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 8.30 Share price in USD 3.84 Risk-free interest rate 4.0 % Expected volatility 80 % Expected term (months) 55.5 months Dividend yield — Black-Scholes value in USD 1.89 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 %
Schedule of borrowings	Transaction costs associated to the warrant obligation have been charged directly to the consolidated 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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche 5,664 8,389 4,756 Deerfield Second Tranche 2,020 2,029 — Total 7,684 10,418 4,756 (in KUSD) Liability balance at 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 Liability balance at December 31, 2021 225,477 Less: royalty payments 10,998 Plus: interest expense 23,200 Less: cumulative catch-up adjustment, Financial income 15,402 Liability balance at December 31, 2022 222,277

Deerfield Warrants (Tables)

Deerfield Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of valuation inputs	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 December 31, 2022 were as follows: As of December 31, 2022 Exercise price in USD 24.70 and 28.07 Share price in USD 3.84 Risk-free interest rate 4.3 % Expected volatility 70 % Expected term (months) 28.7 months Dividend yield — Black-Scholes value in USD 0.20 and 0.16

Deferred royalty obligation (Ta

Deferred royalty obligation (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Royalty Obligation [Abstract]
Schedule of borrowings	Transaction costs associated to the warrant obligation have been charged directly to the consolidated 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 years ended December 31, 2022, 2021 and 2020: Year ended December 31, (in KUSD) 2022 2021 2020 Deerfield First Tranche 5,664 8,389 4,756 Deerfield Second Tranche 2,020 2,029 — Total 7,684 10,418 4,756 (in KUSD) Liability balance at 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 Liability balance at December 31, 2021 225,477 Less: royalty payments 10,998 Plus: interest expense 23,200 Less: cumulative catch-up adjustment, Financial income 15,402 Liability balance at December 31, 2022 222,277

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Dec. 31, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]
Schedule of movements in share capital	The movements in the Company’s share capital, share premium and treasury shares accounts for the years ended December 31, 2022, 2021 and 2020 are set out in the following table: Issued share capital Share premium Treasury shares Increase / (Decrease) in net assets Price per share Issued share capital Treasury shares Outstanding share capital In KUSD Number of shares issued Number of shares (held or received) / delivered Number of shares outstanding Balance at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 April 15, 2020 Shares surrendered by Share Purchase Plan 2013 and Share Purchase Plan 2016 participants to settle share purchase plan promissory notes — 11,208 (11,208) — USD 18.75 — (597,774) (597,774) April 16, 2020 Issuance of shares per shareholder's agreement addendum through capitalization of reserves 393 (393) — — CHF 0.008 4,777,996 — 4,777,996 April 24, 2020 Elimination of fractional holdings — — — — CHF 0.008 — 51 51 May 19, 2020 Issuance of shares to be held as treasury 34 — (34) — CHF 0.008 408,873 (408,873) — May 19, 2020 Grant of shares to settle Incentive Plan 2014 awards, net — (29) 29 — CHF 0.008 — 356,144 356,144 May 19, 2020 Issuance of shares at IPO 1,007 231,661 — 232,668 USD 19.00 12,245,631 — 12,245,631 May 19, 2020 Sale of shares under greenshoe option — 23,591 11,309 34,900 USD 19.00 — 1,836,844 1,836,844 May 19, 2020 Transaction costs, IPO and greenshoe option — (23,355) — (23,355) — — — September 28, 2020 Issuance of shares at follow-on offering 519 203,481 — 204,000 USD 34.00 6,000,000 — 6,000,000 September 28, 2020 Transaction costs, follow-on offering — (15,084) — (15,084) — — — September 30, 2020 Other — — — — CHF 0.08 — 2,796 2,796 December 31, 2020 Shares issued for exercise of option awards — 54 — 54 CHF 0.08 — 2,895 2,895 Movements during the year ended December 31, 2020 1,953 431,134 96 433,183 23,432,500 1,192,083 24,624,583 Balances reported at December 31, 2019 4,361 549,922 (100) 554,183 53,337,500 (1,240,540) 52,096,960 Balance at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 April 1, 2021 Issuance of shares to be held as treasury 131 — (131) — CHF 0.008 1,500,000 (1,500,000) — January 1, 2021 - December 31, 2021 Exercise of options and vestings of RSUs — 771 7 778 — 88,935 88,935 Movements during the year ended December 31, 2021 131 771 (124) 778 1,500,000 (1,411,065) 88,935 Balances reported at December 31, 2020 6,314 981,056 (4) 987,366 76,770,000 (48,457) 76,721,543 Balance at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 August 15, 2022 Issuance of shares, Deerfield exchange agreement, net of transaction costs — 19,640 194 19,834 CHF 0.08 — 2,390,297 2,390,297 September 05, 2022 Issuance of shares to be held as treasury shares 254 — (254) — CHF 0.08 3,123,865 (3,123,865) — September 06, 2022 Issuance of shares, share purchase agreement, net of transaction costs — 6,070 60 6,130 CHF 0.08 — 733,568 733,568 January 1, 2022 - December 31, 2022 Vesting of RSUs — (62) 62 — — 708,184 708,184 November 01, 2022 Issuance of shares to be held as treasury, ATM Facility 613 (23) (613) (23) CHF 0.08 7,648,081 (7,648,081) — Movements during the year ended December 31, 2022 867 25,625 (551) 25,941 10,771,946 (6,939,897) 3,832,049 Balances reported at December 31, 2021 6,445 981,827 (128) 988,144 78,270,000 (1,459,522) 76,810,478 Balance at December 31, 2022 7,312 1,007,452 (679) 1,014,085 89,041,946 (8,399,419) 80,642,527

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2022
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Schedule of Commitments	These milestone payments relate to product candidates in the following phases: (in KUSD): R&D Phase Development Regulatory Sales-based Total Pre-clinical 54,861 20,500 188,655 264,016 Phase I 40,559 19,150 103,900 163,609 Phase II 6,688 — — 6,688 December 31, 2022 102,108 39,650 292,555 434,313 R&D Phase Development Regulatory Sales-based Total Pre-clinical 55,111 25,000 192,055 272,166 Phase I 41,225 19,150 103,900 164,275 Phase II 10,134 — — 10,134 December 31, 2021 106,470 44,150 295,955 446,575

Related parties (Tables)

Related parties (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party [Abstract]
Key Management Compensation	ey management is shown below: (in KUSD) Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Salaries and other short-term employee costs 10,582 8,872 7,690 Pension costs 426 442 455 Share-based compensation expense 23,323 24,649 16,752 Other compensation 241 142 196 Total 34,572 34,105 25,093

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings per share [abstract]
Schedule of loss per share and potentially dilutive securities	The basic loss per share is calculated by dividing the net loss attributable to shareholders by the weighted average number of shares in issue during the period, excluding common shares owned by the Company and held as treasury shares, as follows: For the Years Ended December 31, (in KUSD, except per share amounts) 2022 2021 2020 Loss attributable to owners (155,800) (230,026) (246,290) Weighted average number of shares outstanding (1) 78,152,964 76,748,204 65,410,292 Basic and diluted loss per share (1.99) (3.00) (3.77) (1) Share data have been revised to give effect to the share consolidation as explained in note 2 (iv) as all Class B, C, D and E preferred shares were converted into common shares upon the completion of the IPO, loss per share data are presented on that basis for all periods. 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: For the Years Ended December 31, 2022 2021 2020 2019 Equity Incentive Plan - Share Options 11,156,101 5,951,115 2,904,673 2019 Equity Incentive Plan - RSUs 1,633,507 495,879 63,281 Conversion of the principal amount of convertible loans into the Company's common shares — 3,866,261 1,665,465 Outstanding warrants 4,940,135 — — 2022 ESPP 130,348 — — 17,860,091 10,313,255 4,633,419

Foreign currency exchange rate

Foreign currency exchange rate (Tables)	12 Months Ended
	Dec. 31, 2022
Effects Of Changes In Foreign Exchange Rates [Abstract]
Schedule of Foreign currency exchange rate	The following exchange rates have been used for the translation of the financial statements of ADCT UK, the functional currency of which is the British pound: USD / GBP Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Closing rate, GBP 1 1.2097 1.3512 1.3650 Weighted average exchange rate, GBP 1 1.1847 1.3741 1.2842

Product revenues, net (Tables)

Product revenues, net (Tables)	12 Months Ended
	Dec. 31, 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 year ended December 31, 2022 and December 31, 2021. Year Ended December 31, (in KUSD) 2022 2021 Beginning balance 2,590 — GTN sales adjustments for current year sales 15,200 5,493 GTN sales adjustments for prior year sales (549) — Credits, payments and reclassifications to Accounts payable (13,495) (2,903) Ending balance as of December 31, 3,746 2,590
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 consolidated balance sheet as of December 31, 2022 and December 31, 2021. (in KUSD) December 31, 2022 December 31, 2021 Accounts receivable, net 2,151 1,204 Other current liabilities 1,595 1,386 3,746 2,590

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory [Abstract]
Disclosure Of Inventory Information Explanatory	Inventory as of December 31, 2022 and December 31, 2021 consisted of the following: (in KUSD) December 31, 2022 December 31, 2021 Work in progress 18,165 10,562 Finished goods (1) 399 560 Total inventory 18,564 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.

Interests in joint venture (Tab

Interests in joint venture (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2022 and 2021. (in KUSD) Interest in joint venture January 1, 2021 47,908 Share of results with joint venture (6,672) December 31, 2021 41,236 Share of results in joint venture (10,084) December 31, 2022 31,152
Summary of financial information in joint venture	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 December 31, 2022 December 31, 2021 Cash and cash equivalents 19,261 39,318 Prepaid and other current assets 2 15 Intangible assets 49,249 48,040 Total liabilities (3,062) (2,828) Net assets 65,450 84,545 (in KUSD) For the Years Ended Summarized Statement of Comprehensive Loss December 31, 2022 December 31, 2021 December 31, 2020 Operating expenses 20,228 13,876 269 Other income (1,232) (259) — Net loss 18,996 13,617 269

Corporate Information - Narrati

Corporate Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 subsidiary
Corporate Information And Statement Of IFRS Compliance [Abstract]
Number of subsidiaries	3

Basis of preparation - Going Co

Basis of preparation - Going Concern Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]
Cash and cash equivalents, minimum quarterly balance	$ 60,000
Cash and cash equivalents	$ 326,441	$ 466,544	$ 439,195	$ 115,551

Basis of preparation - Share Sp

Basis of preparation - Share Split (Details)	Sep. 19, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]
Share split ratio	0.000064

Basis of preparation - Share Co

Basis of preparation - Share Consolidation (Details)	Apr. 24, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Share consolidation ratio	0.8

Basis of preparation - Initial

Basis of preparation - Initial Public Offering and Follow-On Public Offering (Details) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Jun. 04, 2021	Sep. 28, 2020	May 19, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of classes of share capital [line items]
Issuance of shares at follow-on offering						$ 204,000
Transaction costs				$ 31
Share premium
Disclosure of classes of share capital [line items]
Increase in share premium			$ 255,300
Issuance of shares at follow-on offering		$ 203,481				203,481
Transaction costs			$ 23,355
Initial Public Offering
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)			14,082,475
Offering price per share (in USD per share)			$ 19
Proceeds from issue of ordinary shares, net			$ 267,600
Proceeds from public offering of common shares, net of transaction costs			244,200	$ 0	$ 0	$ 433,158
Transaction costs			4,700
Underwriting discounts and commissions			$ 18,700
Underwriters Option Member
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)			1,836,844
Follow-on Public Offering
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)		6,000,000
Offering price per share (in USD per share)		$ 34
Proceeds from issue of ordinary shares, net		$ 204,000
Proceeds from public offering of common shares, net of transaction costs		188,900
Transaction costs		2,900
Underwriting discounts and commissions		12,200
Issuance of shares at follow-on offering		$ 203,500
At-The-Market
Disclosure of classes of share capital [line items]
Proceeds from public offering of common shares, net of transaction costs	$ 200,000

Basis of preparation - Share Su

Basis of preparation - Share Subscription Agreement (Details) - shares	3 Months Ended
	Jun. 30, 2022	Dec. 31, 2022
Corporate Information And Statement Of IFRS Compliance [Abstract]
Increase (decrease) in number of ordinary shares issued	1,500,000
Treasury Stock, Shares		(8,399,419)

Basis of preparation - Senior S

Basis of preparation - Senior Secured Term Loan Facility and Warrants, Convertible Loan Exchange And Share Purchase (Details) - USD ($)		3 Months Ended	12 Months Ended
	Aug. 15, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 19, 2020
Disclosure of classes of share capital [line items]
Exchange Of Convertible Notes For Warrants	$ 115,000,000
Convertible Notes, Value Converted	$ 117,300,000
Sale of stock, price per share (in USD per share)						$ 19
Loss on extinguishment			$ (42,114,000)	$ 0	$ 0
Treasury Stock, Shares		(8,399,419)	(8,399,419)
Purchasers
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)	733,568
Sale of stock, price per share (in USD per share)	$ 8.52
Share Subscription Agreement
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)		3,123,865	3,123,865
Sale or issue of treasury shares		$ 733,568
Exchange Agreement
Disclosure of classes of share capital [line items]
Sale or issue of treasury shares		2,390,297
Warrants, Tranche One
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	4,412,840
Warrants, Tranche Two
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	2,390,297
Warrants, Tranche One, Price One
Disclosure of classes of share capital [line items]
Convertible Notes, Shares Converted	2,631,578
Warrants, Shares Converted, Exercise Price	$ 24.70
Facility Agreement with Deerfield Partners, L.P.
Disclosure of classes of share capital [line items]
Borrowings		$ 120,000,000	$ 120,000,000
Loss on extinguishment			$ (42,100,000)
Loan Agreement
Disclosure of classes of share capital [line items]
Borrowings	$ 120,000,000
Convertible Notes, Shares Converted	527,295
Warrants, Shares Converted, Exercise Price	$ 8.30
Future Tranche
Disclosure of classes of share capital [line items]
Borrowings	$ 27,500,000

Significant Accounting Polici_4

Significant Accounting Policies (Details) $ in Thousands		12 Months Ended
	Aug. 15, 2022 USD ($) shares	Dec. 31, 2022 USD ($) segment business	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	May 17, 2021 USD ($)	May 19, 2020 USD ($)	Apr. 24, 2020 USD ($)
Disclosure of detailed information about borrowings [line items]
Gain from reversal of inventory impairment charges		$ 0	$ 8,100	$ 0
Number of businesses, managed and operated | business		1
Number of operating segment | segment		1
Accounts Receivable, License Revenue		$ 50
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	4,412,840
Warrants, Tranche One, Price One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	2,631,578
Warrants, Tranche Two
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted | shares	2,390,297
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity							$ 115,000
Borrowings		$ 120,000
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Borrowings						$ 65,000	65,000
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity					$ 50,000		50,000
Borrowings							$ 50,000
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

Significant Accounting Polici_5

Significant Accounting Policies - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Laboratory equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Hardware
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	3 years
Minimum | Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	3 years
Maximum | Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	10 years

New and amended IFRS standards

New and amended IFRS standards - Schedule of Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Total lease liabilities	$ 7,661	$ 8,023	$ 3,467
Lease liabilities, short-term	1,097	1,029
Lease liabilities, long-term	$ 6,564	$ 6,994

New and amended IFRS standard_2

New and amended IFRS standards - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	$ 6,720	$ 7,164
Lease liabilities, contractual rent	7,661	8,023	$ 3,467
Depreciation, right-of-use assets	1,193	1,581	1,151
Interest expense on lease obligations	191	225	105
Payments of lease liabilities, classified as financing activities	$ 1,011	$ 977	$ 1,144

Financial risk management - Cas

Financial risk management - Cash and Cash Equivalents (Details) - Currency risk € in Thousands, £ in Thousands, SFr in Thousands, $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CHF (SFr)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 EUR (€)
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	$ 326,441				$ 466,544
In USD
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	319,568				462,306
In CHF
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	125	SFr 116			635	SFr 580
In GBP
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	4,974		£ 4,111		2,921		£ 2,162
In EUR
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	$ 1,774			€ 1,658	$ 682			€ 601

Financial risk management - Nar

Financial risk management - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	May 17, 2021	May 19, 2020	Apr. 24, 2020
Disclosure of detailed information about financial instruments [line items]
Proceeds from deferred royalty obligation	$ 225,000	$ 225,000
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about financial instruments [line items]
Borrowings					$ 50,000
Borrowings, maximum borrowing capacity			$ 50,000		50,000
Disbursement upon completion of IPO
Disclosure of detailed information about financial instruments [line items]
Borrowings				$ 65,000	65,000
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about financial instruments [line items]
Borrowings	120,000
Borrowings, maximum borrowing capacity					$ 115,000
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on net monetary assets	$ 272	273
In CHF | Currency risk
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable	10%
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on pre-tax loss	$ 742
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on net monetary assets		1,034
In EUR | Currency risk
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable	10%
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on pre-tax loss	$ 98
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on net monetary assets		191
In GBP | Currency risk
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable	10%
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on pre-tax loss	$ 487
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on net monetary assets	$ 633	544
Sensitivity analysis for types of foreign currency risk, reasonably possible change in risk variable, impact on net monetary liabilities		$ 424

Financial risk management - Sch

Financial risk management - Schedule of Financial Liabilities By Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	May 17, 2021	Dec. 31, 2020	Apr. 24, 2020
Disclosure of detailed information about financial instruments [line items]
Deferred Royalty Obligation		$ 225,477		$ 0
Financial liabilities	$ 426,826	431,506
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about financial instruments [line items]
Borrowings, maximum borrowing capacity			$ 50,000		$ 50,000
Less than 1 year | Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Trade and other payables, undiscounted cash flows	12,351	12,080
Gross lease liabilities	1,284	1,235
Convertible loans, short-term	14,840	6,938
Convertible loans, long-term	0	0
Deferred Royalty Obligation	4,885	1,191
Financial liabilities	33,360	21,444
1-3  years | Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Trade and other payables, undiscounted cash flows	0	0
Gross lease liabilities	2,380	2,122
Convertible loans, short-term	29,882	13,894
Convertible loans, long-term	0	0
Deferred Royalty Obligation	0	0
Financial liabilities	32,262	16,016
3-5  years | Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Trade and other payables, undiscounted cash flows	0	0
Gross lease liabilities	2,323	1,962
Convertible loans, short-term	30,440	6,672
Convertible loans, long-term	0	115,000
Deferred Royalty Obligation	0	0
Financial liabilities	32,763	123,634
More than 5 years | Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Trade and other payables, undiscounted cash flows	0	0
Gross lease liabilities	2,456	3,706
Convertible loans, short-term	27,272	0
Convertible loans, long-term	120,000	0
Deferred Royalty Obligation	0	0
Financial liabilities	$ 149,728	$ 3,706

Critical accounting estimates a

Critical accounting estimates and judgements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Impairment of intangible assets	$ 226,000	$ 0	$ 216,000
Licenses
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill	$ 695,000	$ 2,893,000

Non-operating income - Schedule

Non-operating income - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	$ 25,650	$ 34,893	$ (45,411)
Convertible loans, derivatives, transaction costs	0	148	1,571
Loss on extinguishment	42,114	0	0
Senior secured term loan facility, warrants, transaction costs	(245)	0	0
Share of results with joint venture	(10,084)	(6,672)	24,368
Exchange differences (loss) gain	(110)	50	(576)
R&D tax credit	357	366	584
Non-operating (expense) income	(12,080)	28,489	(22,606)
Senior Secured Term Loan Facility
Disclosure of detailed information about borrowings [line items]
Change in fair value	2,962	0	0
Deerfield Warrants
Disclosure of detailed information about borrowings [line items]
Change in fair value	$ 11,504	$ 0	$ 0

Non-operating income - Narrativ

Non-operating income - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 17, 2021	May 19, 2020	Apr. 24, 2020
Disclosure of detailed information about borrowings [line items]
Financial income		$ 17,970	$ 66	$ 832
Foreign exchange gain (loss)		(110)	50	(576)
Net loss		$ (155,800)	(230,026)	$ (246,290)
Warrants, Tranche One
Disclosure of detailed information about borrowings [line items]
Convertible Notes, Shares Converted	4,412,840
Overland ADCT BioPharma
Disclosure of detailed information about borrowings [line items]
Gain On Investment In Joint Venture			$ 24,501
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Borrowings						$ 65,000	$ 65,000
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Borrowings							50,000
Borrowings, maximum borrowing capacity					$ 50,000		$ 50,000

Employee expenses - Schedule of

Employee expenses - Schedule of Employee expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Wages, salaries and other costs	$ 85,660	$ 78,748	$ 44,058
Social security costs	12,622	10,433	7,292
Expense recognized	50,637	60,555	42,928
Defined benefit plan costs	1,076	436	966
Defined contribution plan costs	3,019	1,894	727
Employee expenses	$ 153,014	$ 152,066	$ 95,971

Employee expenses - Narrative (

Employee expenses - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Employee expenses	$ 153,014	$ 152,066	$ 95,971
Adjustments for increase (decrease) in employee benefit liabilities	$ 900	$ 56,100

Expenses by nature - Schedule o

Expenses by nature - Schedule of Expenses by nature (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
COGS	$ 4,579	$ 1,393	$ 0
Research and development expenses	187,898	158,002	142,032
Selling and marketing expenses	69,052	64,780	22,101
General and administrative expenses	72,006	71,462	55,130
Total operating expense	333,535	295,637	219,263
External Costs
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Research and development expenses	116,550	91,875	97,768
Selling and marketing expenses	35,752	28,817	11,887
General and administrative expenses	23,640	21,486	13,637
Employee Expenses
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Research and development expenses	71,348	66,127	44,264
Selling and marketing expenses	33,300	35,963	10,214
General and administrative expenses	48,366	$ 49,976	$ 41,493
Executive Compensation
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
General and administrative expenses	$ 1,300

Expenses by nature - Narrative

Expenses by nature - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Selling and marketing expenses	$ 69,052	$ 64,780	$ 22,101
Gain from reversal of inventory impairment charges	0	(8,100)	0
Impairment loss recognised in profit or loss, property, plant and equipment	1,700
General and administrative expenses	72,006	$ 71,462	$ 55,130
Adjustments For Impairment Loss	2,500
Manufacturing Of Antibodies
Disclosure Of Detailed Information About Expenses By Nature [Line Items]
Gain from reversal of inventory impairment charges	$ 800

Income tax expense - Schedule o

Income tax expense - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Current income taxes for the year	$ 3,145	$ 3,644	$ 417
Current income tax (benefit) expense related to prior years	(1,298)	926	(90)
Total current income tax expense	1,847	4,570	327
Recognition of previously unrecognized tax credits	11	(22,745)	0
Recognition of previously unrecognized tax credits	(1,080)	(2,311)	0
Other	361	(993)	0
Deferred tax expense (income) recognised in profit or loss	(708)	(26,049)	0
Income tax expense (benefit)	$ 1,139	$ (21,479)	$ 327

Income tax expense - Narrative

Income tax expense - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax (benefit) expense related to prior years	$ (1,298)	$ 926	$ (90)
Increase (decrease) in deferred tax liability (asset)	708	26,049	$ 0
PY Amended Return
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Increase (decrease) in deferred tax liability (asset)	446	$ 2,783
State Income Tax
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax (benefit) expense related to prior years	(890)
Other Tax
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax (benefit) expense related to prior years	(259)
Prior Years Tax Liability Adjustment
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax (benefit) expense related to prior years	(149)
Prior Year Tax Benefit
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax (benefit) expense related to prior years	$ (1,149)
Minimum
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Applicable tax rate	13.65%	13.70%	13.68%
Maximum
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Applicable tax rate	21%	21%	21%
Weighted Average
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Weighted average tax rate	13.10%	13.40%	13.80%

Income tax expense - Schedule_2

Income tax expense - Schedule of Detailed Income Tax Expenses (Credits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Loss before taxes	$ 154,661	$ 251,505	$ 245,963
Pre-tax book income at the applicable statutory rate	20,191	34,060	33,319
Income Taxes, Tax Effects [Abstract]
Tax losses for which no deferred income tax asset is recognized	(18,908)	(31,138)	(26,112)
State income taxes - U.S.	654	2,704	0
Recognition of previously unrecognized R&D tax credits and deductible temporary differences	22	22,270	0
R&D tax credit - U.S.	6,110	7,232	546
Non-deductible expenses	(8,023)	(13,665)	(8,166)
Other	(1,185)	16	86
Income tax (expense) benefit	$ (1,139)	$ 21,479	$ (327)

Other current assets - Schedule

Other current assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
VAT receivable, net	$ 400	$ 364
Withholding tax receivable	363	23
Prepaid insurance	2,747	3,416
Prepaid compensation	1,422	1,489
Prepaid expenses	3,143	2,457
Prepaid income tax	7,983	0
Prepaid and other CMC, research and clinical expenses	8,001	7,988
Cost sharing arrangement receivable	2,869	1,106
UK R&D expenditure credit receivable	492	455
Interest Receivable	619	0
Other current assets	$ 28,039	$ 17,298

Other current assets - Narrativ

Other current assets - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Subclassifications of assets, liabilities and equities [abstract]
Increase in other current assets	$ 10.7

Non-current assets by geograp_3

Non-current assets by geographic area (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Non-current Assets [Line Items]
Total non-current assets	$ 55,493	$ 66,048
Switzerland
Disclosure Of Detailed Information About Non-current Assets [Line Items]
Total non-current assets	46,975	56,680
United Kingdom
Disclosure Of Detailed Information About Non-current Assets [Line Items]
Total non-current assets	6,779	8,165
United States
Disclosure Of Detailed Information About Non-current Assets [Line Items]
Total non-current assets	$ 1,739	$ 1,203

Property, plant and equipment -

Property, plant and equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	$ 4,066
Ending balance	3,261	$ 4,066
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	6,403	3,356
Additions	577	3,430
Transfers		0
Disposals and scrapping		(296)
Exchange difference	(495)	(87)
Ending balance	6,485	6,403
Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	(2,337)	(1,727)
Disposals and scrapping		296
Exchange difference	130	14
Depreciation charge	(1,017)	(920)
Ending balance	(3,224)	(2,337)
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	1,850
Ending balance	1,469	1,850
Leasehold improvements | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	2,249	746
Additions	21	1,761
Transfers		67
Disposals and scrapping		(272)
Exchange difference	(188)	(53)
Ending balance	2,082	2,249
Leasehold improvements | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	(399)	(362)
Disposals and scrapping		272
Exchange difference	12	3
Depreciation charge	(226)	(312)
Ending balance	(613)	(399)
Laboratory equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	1,392
Ending balance	1,356	1,392
Laboratory equipment | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	2,228	1,002
Additions	555	1,250
Transfers		0
Disposals and scrapping		0
Exchange difference	(251)	(24)
Ending balance	2,532	2,228
Laboratory equipment | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	(836)	(594)
Disposals and scrapping		0
Exchange difference	96	9
Depreciation charge	(436)	(251)
Ending balance	(1,176)	(836)
Office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	415
Ending balance	259	415
Office equipment | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	945	671
Additions	1	308
Transfers		0
Disposals and scrapping		(24)
Exchange difference	(54)	(10)
Ending balance	892	945
Office equipment | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	(530)	(457)
Disposals and scrapping		24
Exchange difference	21	2
Depreciation charge	(124)	(99)
Ending balance	(633)	(530)
Hardware
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	409
Ending balance	177	409
Hardware | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	981	870
Additions	0	111
Transfers		0
Disposals and scrapping		0
Exchange difference	(2)	0
Ending balance	979	981
Hardware | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	(572)	(314)
Disposals and scrapping		0
Exchange difference	1	0
Depreciation charge	(231)	(258)
Ending balance	(802)	(572)
Construction in progress
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	0
Ending balance	0	0
Construction in progress | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	0	67
Additions	0	0
Transfers		(67)
Disposals and scrapping		0
Exchange difference	0	0
Ending balance	0	0
Construction in progress | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance	0	0
Disposals and scrapping		0
Exchange difference	0	0
Depreciation charge	0	0
Ending balance	$ 0	$ 0

Property, plant and equipment_2

Property, plant and equipment - Schedule of Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	$ 1,017	$ 920	$ 774
R&D expense
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	840	751	589
G&A expense
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	97	102	185
S&M Expense
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	$ 80	$ 67	$ 0

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	$ 6,720	$ 7,164
Lease liabilities (short-term)	1,097	1,029
Lease liabilities (long-term)	6,564	6,994
Total lease liabilities	7,661	8,023	$ 3,467
Properties (offices)
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	6,669	7,080
Vehicles
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	$ 51	$ 84

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) m²	Dec. 31, 2022 USD ($) m²	Dec. 31, 2021 USD ($)
Leases [Abstract]
Expense relating to short-term leases for which recognition exemption has been used		$ 46	$ 164
Short-term lease payments, due in next fiscal year	$ 5	$ 5
Lease area (in square meters) | m²	1,100	1,100
Disclosure of quantitative information about right-of-use assets [line items]
Lease term	10 years

Leases - Right-of-Use Assets an

Leases - Right-of-Use Assets and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	$ 7,164
Depreciation, right-of-use assets	(1,193)	$ (1,581)	$ (1,151)
Right-of-use asset, ending balance	6,720	7,164
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
Terminations Of Right-To-Use Assets	(386)
Lease termination		(1,873)
Exchange differences, right-of-use-assets	(542)	(108)
Right-of-use asset, ending balance	9,445	9,139	5,402
Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	(1,975)	(2,273)
Lease termination	386	1,873
Exchange differences, right-of-use-assets	57	6
Depreciation, right-of-use assets	(1,193)	(1,581)
Right-of-use asset, ending balance	(2,725)	(1,975)	(2,273)
Properties (offices)
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	7,080
Right-of-use asset, ending balance	6,669	7,080
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
Terminations Of Right-To-Use Assets	(386)
Lease termination		(1,873)
Exchange differences, right-of-use-assets	(542)	(108)
Right-of-use asset, ending balance	9,311	9,005	5,324
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)
Lease termination	386	1,873
Exchange differences, right-of-use-assets	57	6
Depreciation, right-of-use assets	(1,160)	(1,551)
Right-of-use asset, ending balance	(2,642)	(1,925)	(2,253)
Vehicles
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	84
Right-of-use asset, ending balance	51	84
Vehicles | Cost
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	134	78
Additions	0	56
Terminations Of Right-To-Use Assets	0
Lease termination		0
Exchange differences, right-of-use-assets	0	0
Right-of-use asset, ending balance	134	134	78
Vehicles | Accumulated amortization
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset, beginning balance	(50)	(20)
Lease termination	0	0
Exchange differences, right-of-use-assets	0	0
Depreciation, right-of-use assets	(33)	(30)
Right-of-use asset, ending balance	$ (83)	$ (50)	$ (20)

Leases - Right-of-Use Asset Dep

Leases - Right-of-Use Asset Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	$ 1,193	$ 1,581	$ 1,151
R&D expense
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	946	1,342	915
G&A expense
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation, right-of-use assets	$ 247	$ 239	$ 236

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	$ 8,023	$ 3,467
Additions To Lease Liabilities	1,234	5,718
Cash outflow for leases	(1,202)	(1,202)
Interest expense on lease obligations	191	225	$ 105
Increase (Decrease) Through Net Exchange Differences, Lease Liabilities	(585)	(185)
Ending balance	7,661	8,023	3,467
Lease liabilities, short-term	1,097	1,029
Lease liabilities, long-term	6,564	6,994
Properties (offices)
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	7,898	3,402
Additions To Lease Liabilities	1,234	5,662
Cash outflow for leases	(1,166)	(1,169)
Interest expense on lease obligations	189	222
Increase (Decrease) Through Net Exchange Differences, Lease Liabilities	(548)	(219)
Ending balance	7,607	7,898	3,402
Lease liabilities, short-term	1,061	994
Lease liabilities, long-term	6,546	6,904
Vehicles
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	125	65
Additions To Lease Liabilities	0	56
Cash outflow for leases	(36)	(33)
Interest expense on lease obligations	2	3
Increase (Decrease) Through Net Exchange Differences, Lease Liabilities	(37)	34
Ending balance	54	125	$ 65
Lease liabilities, short-term	36	35
Lease liabilities, long-term	$ 18	$ 90

Intangible assets - Schedule of

Intangible assets - Schedule of Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	$ 13,582,000
Impairment loss recognised in profit or loss, intangible assets other than goodwill	(226,000)	$ 0	$ (216,000)
Ending balance	14,360,000	13,582,000
Licenses, Indefinite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	11,916,000
Ending balance	12,385,000	11,916,000
Internal development costs
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	631,000
Ending balance	0	631,000
Internal Development Costs, Definite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	0
Ending balance	954,000	0
Licenses, Definite-Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	1,002,000
Ending balance	927,000	1,002,000
Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	33,000
Ending balance	94,000	33,000
Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	14,844,000	11,312,000
Additions other than through business combinations, intangible assets other than goodwill	1,128,000	3,538,000
Increase (decrease) through transfers, intangible assets other than goodwill	0	6,000
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(8,000)
Ending balance	15,964,000	14,844,000	11,312,000
Cost | Licenses, Indefinite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	12,985,000	11,144,000
Additions other than through business combinations, intangible assets other than goodwill	695,000	2,293,000
Increase (decrease) through transfers, intangible assets other than goodwill	0	452,000
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	13,680,000	12,985,000	11,144,000
Cost | Internal development costs
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	631,000	0
Additions other than through business combinations, intangible assets other than goodwill	323,000	631,000
Increase (decrease) through transfers, intangible assets other than goodwill	(954,000)	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	0	631,000	0
Cost | Internal Development Costs, Definite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	0	0
Additions other than through business combinations, intangible assets other than goodwill	0	0
Increase (decrease) through transfers, intangible assets other than goodwill	954,000	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	954,000	0	0
Cost | Licenses, Definite-Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	1,052,000	0
Additions other than through business combinations, intangible assets other than goodwill	0	600,000
Increase (decrease) through transfers, intangible assets other than goodwill	0	(452,000)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Ending balance	1,052,000	1,052,000	0
Cost | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	176,000	168,000
Additions other than through business combinations, intangible assets other than goodwill	110,000	14,000
Increase (decrease) through transfers, intangible assets other than goodwill	0	6,000
Increase (decrease) through net exchange differences, intangible assets other than goodwill	(8,000)
Ending balance	278,000	176,000	168,000
Accumulated amortization
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(1,262,000)	(1,133,000)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	2,000
Amortisation, intangible assets other than goodwill	(118,000)	(129,000)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	226,000
Ending balance	(1,604,000)	(1,262,000)	(1,133,000)
Accumulated amortization | Licenses, Indefinite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(1,069,000)	(1,069,000)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	0	0
Impairment loss recognised in profit or loss, intangible assets other than goodwill	226,000
Ending balance	(1,295,000)	(1,069,000)	(1,069,000)
Accumulated amortization | Internal development costs
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	0	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	0	0
Impairment loss recognised in profit or loss, intangible assets other than goodwill	0
Ending balance	0	0	0
Accumulated amortization | Internal Development Costs, Definite Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	0	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	0	0
Impairment loss recognised in profit or loss, intangible assets other than goodwill	0
Ending balance	0	0	0
Accumulated amortization | Licenses, Definite-Lived
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(50,000)	0
Increase (decrease) through net exchange differences, intangible assets other than goodwill	0
Amortisation, intangible assets other than goodwill	(75,000)	(50,000)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	0
Ending balance	(125,000)	(50,000)	0
Accumulated amortization | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(143,000)	(64,000)
Increase (decrease) through net exchange differences, intangible assets other than goodwill	2,000
Amortisation, intangible assets other than goodwill	(43,000)	(79,000)
Impairment loss recognised in profit or loss, intangible assets other than goodwill	0
Ending balance	$ (184,000)	$ (143,000)	$ (64,000)

Intangible assets - Schedule _2

Intangible assets - Schedule of Intangible Assets Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Amortisation expense	$ 344	$ 129	$ 263
R&D expense
Disclosure of detailed information about intangible assets [line items]
Amortisation expense	255	12	230
G&A expense
Disclosure of detailed information about intangible assets [line items]
Amortisation expense	14	67	33
Cost Of Product Sales Expense
Disclosure of detailed information about intangible assets [line items]
Amortisation expense	$ 75	$ 50	$ 0

Intangible assets - Narrative (

Intangible assets - Narrative (Details) - USD ($)		12 Months Ended
	Apr. 23, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Purchase of intangible assets, classified as investing activities		$ 1,721,000	$ 2,946,000	$ 2,008,000
Impairment of intangible assets		226,000	0	$ 216,000
Licenses
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill		695,000	2,893,000
ZYNLONTA
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	14 years
Amortisation, intangible assets other than goodwill		75,000	50,000
License To Acquire An Antibody, ZYNLONTA | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill			1,050,000
License To Use Technology To Generate Antibody Drug Conjugates, ZYNLONTA | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill			600,000
License To Use Technology To Generate Antibody Drug Conjugates, ZYNLONTA | License Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill			300,000
License To Use Technology To Research, Develop And Manufacture And Commercialize Products | License Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill		400,000
License To Use Technology To Generate Antibody Drug Conjugates, ZYNLONTA (2) | License Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill			250,000
License, Phase 1, To Use Technology To Research, Develop and Manufacture And Commercialize Products | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill			$ 293,000
Dosing Of Specific Number Of Patients | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill		500,000
Successful Completion Of In-Vivo Efficacy Studies | Milestone Payment
Disclosure of detailed information about intangible assets [line items]
Additions other than through business combinations, intangible assets other than goodwill		$ 195,000

Financial instruments - Schedul

Financial instruments - Schedule of financial assets and financial liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 405,058	$ 499,403
Financial liabilities	426,826	431,506
Net financial position	(21,768)	67,897
Accounts payable
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	12,351	12,080
Other current liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	73,035	50,497
Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	7,661	8,023
Convertible loans, derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0	37,947
Income taxes payable
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0	3,754
Senior Secured Term Loans
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	109,714	0
Convertible loans, short-term
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0	93,728
Warrant Obligations
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,788	0
Deferred Royalty Obligation
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	222,277	225,477
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Financial assets	326,441	466,544
Other current assets (excluding prepaid expenses)
Disclosure of detailed information about financial instruments [line items]
Financial assets	4,743	1,948
Other long-term assets
Disclosure of detailed information about financial instruments [line items]
Financial assets	903	693
Trade receivables [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 72,971	$ 30,218

Financial instruments - Sched_2

Financial instruments - Schedule of net debt rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	$ 101,369	$ 324,114
Issuance of convertible loan		1,815
Decrease Through Loss On Extinguishment Of Debt	(22,082)
Fair value adjustments	40,116	33,078
Convertible loan transaction costs	(245)	(148)
Convertible loan accretion	(13,529)	(10,418)
Deferred royalty obligation accretion and cumulative catch- up	(7,798)	(7,688)
Increase (Decrease) Through Lease Additions, Net Debt	(1,234)	(5,718)
Other lease activity including foreign exchange	394	(40)
Net cash outflow	(111,782)	(233,632)
Foreign exchange on cash	(208)	6
Net debt obligation, ending balance	(14,999)	101,369
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	466,544	439,195
Issuance of convertible loan	120,000	50,000
Increase (Decrease) Through Deerfield Loan Exchange	(118,304)
Convertible loan transaction costs	(7,432)	(557)
Interest payments	(10,368)	(5,280)
Increase (Decrease) Through Deferred Royalty Obligation, Net Debt		225,000
Increase (Decrease) Through Deferred Royalty Obligations, Costs Incurred, Net Debt		(6,998)
Deferred royalty obligation payments	(10,998)	(213)
Increase (Decrease) Through Lease Principal, Net Debt	(1,011)	(977)
Net cash outflow	(111,782)	(233,632)
Foreign exchange on cash	(208)	6
Net debt obligation, ending balance	326,441	466,544
Senior Secured Term Loans
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	0
Issuance of convertible loan	(116,043)
Convertible loan transaction costs	7,187
Convertible loan accretion	(5,845)
Interest payments	4,987
Net debt obligation, ending balance	(109,714)	0
Warrant Obligations
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	0
Issuance of convertible loan	(3,957)
Increase (Decrease) Through Issuance Of Warrants	(12,297)
Fair value adjustments	14,466
Net debt obligation, ending balance	(1,788)	0
Convertible loans, short-term and long-term
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	(93,728)	(38,406)
Issuance of convertible loan		(50,368)
Decrease Through Loss On Extinguishment Of Debt	(22,082)
Increase (Decrease) Through Deerfield Loan Exchange	118,304
Convertible loan transaction costs		409
Convertible loan accretion	(7,684)	(10,418)
Interest payments	5,190	5,055
Net debt obligation, ending balance	0	(93,728)
Embedded derivative
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	(37,947)	(51,229)
Issuance of convertible loan		(18,158)
Increase (Decrease) Through Issuance Of Warrants	12,297
Fair value adjustments		31,440
Convertible loan transaction costs	25,650
Net debt obligation, ending balance	0	(37,947)
Derivatives
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	0	(21,979)
Issuance of convertible loan		20,341
Fair value adjustments		1,638
Net debt obligation, ending balance		0
Deferred Royalty Obligation
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	(225,477)
Increase (Decrease) Through Deferred Royalty Obligation, Net Debt		(225,000)
Increase (Decrease) Through Deferred Royalty Obligations, Costs Incurred, Net Debt		6,998
Deferred royalty obligation accretion and cumulative catch- up	(7,798)	(7,688)
Deferred royalty obligation payments	10,998	213
Net debt obligation, ending balance	(222,277)	(225,477)
Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Net debt obligation, beginning balance	(8,023)	(3,467)
Interest payments	191	225
Increase (Decrease) Through Lease Additions, Net Debt	(1,234)	(5,718)
Increase (Decrease) Through Lease Principal, Net Debt	1,011	977
Other lease activity including foreign exchange	394	(40)
Net debt obligation, ending balance	$ (7,661)	$ (8,023)

Financial instruments - Sched_3

Financial instruments - Schedule of credit quality (Details) - Cash and cash equivalents - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of credit risk exposure [line items]
Credit exposure	$ 326,441	$ 466,544
UBS
Disclosure of credit risk exposure [line items]
Credit exposure	105,183	154,961
Credit Suisse
Disclosure of credit risk exposure [line items]
Credit exposure	110,338	157,098
JP Morgan Chase
Disclosure of credit risk exposure [line items]
Credit exposure	654	1,295
Bank of America
Disclosure of credit risk exposure [line items]
Credit exposure	$ 110,266	$ 153,190

Deferred income taxes and tax_3

Deferred income taxes and tax credit - Schedule of Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Income Taxes [Line Items]
Deferred tax asset	$ 26,757	$ 26,049
U.S. Federal R&D credits
Deferred Income Taxes [Line Items]
Deferred tax asset	21,200	21,213
U.S. State R&D credits
Deferred Income Taxes [Line Items]
Deferred tax asset	4,924	3,843
Other items
Deferred Income Taxes [Line Items]
Deferred tax asset	$ 633	$ 993

Deferred income taxes and tax_4

Deferred income taxes and tax credit - Schedule of unrecognized temporary differences, unused tax losses and unused tax credits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognized	$ 901,344	$ 779,473
Tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognized	926,350	818,946
Unused U.S. State R&D tax credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognized	918	907
Deductible (taxable) temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible (Taxable) Temporary Difference For Which No Deferred Tax Asset is Recognised	$ (25,924)	$ (40,380)

Deferred income taxes and tax_5

Deferred income taxes and tax credit - Schedule of years of expiry for tax losses and tax credits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred income tax assets recognized	$ 0	$ 0
Deferred Tax Assets, Federal and State Research And Development Tax Credits	21,735	21,274
Tax losses not recognized and to be carried forward	926,350	818,946
R&D USA tax credits carried forward	4,389
Unused tax losses expired	$ 31,128	19,889
R&D tax credit carry forward period	20 years
Tax Effect Of Research And Development Tax Credits	$ 357	366	$ 584
Tax Effect Of Research And Development Tax Credits, Carryforwards	918,000	907,000
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense	5,874	6,010
2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	0	31,128
2023
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	38,441	38,441
2024
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	92,012	92,012
2025
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	121,866	121,866
2026
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	14	0
Tax losses not recognized and to be carried forward	118,943	118,943
Tax Expiry Year - 2027
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	190,928	190,928
Tax Expiry Year - Beyond 2028
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses not recognized and to be carried forward	364,160	225,628
2038
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	0	0
Tax Effect Of Research And Development Tax Credits, Carryforwards	363,000	352,000
2039
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	937	5,552
Tax Effect Of Research And Development Tax Credits, Carryforwards	275,000	275,000
2040
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	8,429	8,429
Tax Effect Of Research And Development Tax Credits, Carryforwards	$ 280,000	$ 280,000

Deferred income taxes and tax_6

Deferred income taxes and tax credit - Schedule of Deferred Tax Asset, Federal and State R&D Credits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	$ 21,735	$ 21,274
2026
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	14	0
2036
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	385	61
2037
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	111	0
2038
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	0	0
2039
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	937	5,552
2040
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	8,429	8,429
2041
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	5,736	7,232
Tax Expiry Year - 2042
Deferred Income Taxes [Line Items]
Deferred Tax Assets, Federal and State Research And Development Tax Credits	$ 6,123	$ 0

Accrued liabilities and other_3

Accrued liabilities and other payables - Schedule of Accrued liabilities and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Payroll and social charges	$ 16,306	$ 16,063
R&D costs	40,171	20,320
Other current liabilities	1,595	1,386
Other (2)	14,963	12,728
Total current accrued expenses and other current liabilities	$ 73,035	$ 50,497

Pension obligations - Narrative

Pension obligations - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) employee age	Dec. 31, 2021 employee
Disclosure of defined benefit plans [line items]
Capital and interest guarantee	100%
Guaranteed interest return on employees savings, employees' savings	1%
Guaranteed interest return on employees savings, supplementary retirement savings	0.25%
Retirement age, males	65
Retirement age, females	64
Number of employees covered | employee	30	31
Employer contributions, expected for next year | $	$ 853
Weighted average duration of defined benefit obligation	16 years 10 months 24 days	20 years 6 months
Minimum
Disclosure of defined benefit plans [line items]
Rate to convert mandatory savings to annuity	5.90%
Rate to convert supplementary savings to annuity for males	4.712%
Maximum
Disclosure of defined benefit plans [line items]
Rate to convert mandatory savings to annuity	6.50%
Rate to convert supplementary savings to annuity for females	4.7626%
Median
Disclosure of defined benefit plans [line items]
Rate to convert mandatory savings to annuity	6.20%
Rate to convert supplementary savings to annuity for males	4.4855%
Rate to convert supplementary savings to annuity for females	4.5411%

Pension obligations - Funded st

Pension obligations - Funded status (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of defined benefit plans [line items]
Funded status	$ 0	$ (3,652)	$ (3,543)
Present value of obligation
Disclosure of defined benefit plans [line items]
Funded status	(12,446)	(14,919)	(11,809)
Fair value of plan assets
Disclosure of defined benefit plans [line items]
Funded status	$ (12,446)	$ (11,267)	$ (8,266)

Pension obligations - Schedule

Pension obligations - Schedule of movement in the net defined benefit obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan, beginning balance	$ 3,652	$ 3,543
Current service cost	1,234	1,080
Impact of plan changes		(651)
Impact of plan changes	171
Interest cost / (income)	13	7
Defined benefit plan costs	(1,076)	(436)	$ (966)
Employee contributions	0	0
Employer contributions	(967)	(801)
Transfers from joiners' previous plans	0	0
Increase (decrease) through changes other than recognized in profit (loss) or remeasurement, net defined benefit liability (asset)	967	801
Exchange differences	(46)	(113)
Change in financial assumptions	3,445	(310)
Other actuarial losses	199	(978)
Plan asset gains	(71)	(81)
Total increase (decrease) in net defined benefit liability (asset) resulting from loss (gain) on remeasurement in other comprehensive income	(3,715)	587
Defined benefit plan, ending balance	0	3,652	3,543
Present value of obligation
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan, beginning balance	14,919	11,809
Current service cost	1,234	1,080
Impact of plan changes		(651)
Impact of plan changes	171
Interest cost / (income)	53	23
Defined benefit plan costs	(1,116)	(452)
Employee contributions	466	404
Employer contributions	0	0
Transfers from joiners' previous plans	6	1,968
Increase (decrease) through changes other than recognized in profit (loss) or remeasurement, net defined benefit liability (asset)	(472)	(2,372)
Exchange differences	(223)	(382)
Change in financial assumptions	3,445	(310)
Other actuarial losses	393	(978)
Plan asset gains	0	0
Total increase (decrease) in net defined benefit liability (asset) resulting from loss (gain) on remeasurement in other comprehensive income	(3,838)	668
Defined benefit plan, ending balance	12,446	14,919	11,809
Fair value of plan assets
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit plan, beginning balance	11,267	8,266
Current service cost	0	0
Impact of plan changes		0
Impact of plan changes	0
Interest cost / (income)	40	16
Defined benefit plan costs	(40)	(16)
Employee contributions	466	404
Employer contributions	967	801
Transfers from joiners' previous plans	6	1,968
Increase (decrease) through changes other than recognized in profit (loss) or remeasurement, net defined benefit liability (asset)	(1,439)	(3,173)
Exchange differences	(177)	(269)
Change in financial assumptions	0	0
Other actuarial losses	194	0
Plan asset gains	71	81
Total increase (decrease) in net defined benefit liability (asset) resulting from loss (gain) on remeasurement in other comprehensive income	(123)	81
Defined benefit plan, ending balance	$ 12,446	$ 11,267	$ 8,266

Pension obligations - Schedul_2

Pension obligations - Schedule of actuarial assumptions (Details)	Dec. 31, 2022	Dec. 31, 2021
Employee Benefits [Abstract]
Discount rate	2.30%	0.35%
Interest credited on savings accounts	2.30%	0.35%
Future salary increases	1.50%	1.50%
Future pension increases	0%	0%

Pension obligations - Schedul_3

Pension obligations - Schedule of average life expectancy (Details) - age	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Employee Benefits [Abstract]
Average male life expectancy	22.70	22.57
Average female life expectancy	25.48	25.37

Pension obligations - Schedul_4

Pension obligations - Schedule of sensitivity of defined benefits (Details)	Dec. 31, 2022	Dec. 31, 2021
Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in assumption	0.25%	0.25%
Impact on defined benefit obligation and service cost	(4.00%)	(4.90%)
Decrease in assumption	(0.25%)	(0.25%)
Impact on defined benefit obligation and service cost	4.30%	5.30%
Future salary increases
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in assumption	0.50%	0.50%
Impact on defined benefit obligation and service cost	0.30%	0.60%
Decrease in assumption	(0.50%)	(0.50%)
Impact on defined benefit obligation and service cost	(0.30%)	(0.60%)
Interest credited on savings accounts
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in assumption	0.50%	0.50%
Impact on defined benefit obligation and service cost	2.20%	2.70%
Decrease in assumption	(0.50%)	(0.50%)
Impact on defined benefit obligation and service cost	(2.10%)	(2.60%)
Future pension increases
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in assumption	0.50%	0.50%
Impact on defined benefit obligation and service cost	5.60%	6.70%
Decrease in assumption	(0.50%)	(0.50%)
Impact on defined benefit obligation and service cost	(5.10%)	(6.10%)

Pension obligations - Schedul_5

Pension obligations - Schedule of Investments by asset class (Details) - Fair value of plan assets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of defined benefit plans [line items]
Cash	$ 793	$ 85
Bonds	6,586	6,320
Shares	553	531
Real estates and mortgages	3,602	3,457
Alternative investments	912	875
Investments by asset class	$ 12,446	$ 11,268

Pension obligations - Schedul_6

Pension obligations - Schedule of defined benefit plan reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Employee Benefits [Abstract]
Defined benefit plan reserves, beginning balance	$ (3,281)	$ (2,694)
Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income	3,715	(587)
Defined benefit plan reserves, beginning balance	$ 434	$ (3,281)

Senior secured term loan faci_3

Senior secured term loan facility and warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 17, 2021	May 19, 2020	Apr. 24, 2020
Disclosure of detailed information about borrowings [line items]
Cash and cash equivalents, minimum quarterly balance		$ 60,000
Gains (losses) on change in fair value of derivatives		(25,650)	$ (34,893)	$ 45,411
Convertible loans, derivatives		$ 0	37,947
Number of shares authorized (in shares)		30,753,351
Warrant Obligation, Fair Value	$ 4,000
Borrowings, Fair Value	116,000
Short-Term Borrowings		$ 12,500
Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		$ 7,684	10,418	4,756
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
Warrant Obligation, Fair Value	12,297	793
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Borrowings						$ 65,000	65,000
Gains (losses) on change in fair value of derivatives		(15,556)	(28,003)	23,432
Disbursement upon completion of IPO | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		5,664	8,389	4,756
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity					$ 50,000		50,000
Borrowings							$ 50,000
Disbursement upon receipt of regulatory approval for Lonca | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings		$ 2,020	2,029	0
Disbursement upon receipt of regulatory approval for Lonca | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings			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%
Senior Secured Term Loan Facility
Disclosure of detailed information about borrowings [line items]
Deerfield warrant obligation, change in fair value income		$ 2,962	$ 0	$ 0
Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Warrant Obligation, Fair Value		995
Senior Secured Term Loans
Disclosure of detailed information about borrowings [line items]
Borrowings		109,700
Interest expense on borrowings		5,845
Long-term loans		$ 97,200

Senior secured term loan faci_4

Senior secured term loan facility and warrants - Valuation of Derivative (Details)	Dec. 31, 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	3.84
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	0.040
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	55.5
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 | Oak Tree And Owl Rock Warrant Obligations
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0
Dividend Yield | 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	1.89
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	Dec. 31, 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
Deferred Financing Costs
Disclosure of detailed information about borrowings [line items]
Borrowings	7,432
Deferred Financing Costs | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings	245
Deferred Financing 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 ($)			12 Months Ended
	Aug. 15, 2022	Apr. 24, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 17, 2021	May 19, 2020
Disclosure of detailed information about borrowings [line items]
Cash and cash equivalents, minimum quarterly balance			$ 60,000,000
Gains (losses) on change in fair value of derivatives			(25,650,000)	$ (34,893,000)	$ 45,411,000
Convertible loans, derivatives			$ 0	37,947,000
Number of shares authorized (in shares)			30,753,351
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			$ 7,684,000	10,418,000	4,756,000
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
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 65,000,000					$ 65,000,000
Gains (losses) on change in fair value of derivatives			(15,556,000)	(28,003,000)	23,432,000
Credit derivative, fair value	$ 7,670,000			23,226,000
Borrowings maturity		5 years
Disbursement upon completion of IPO | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings			5,664,000	8,389,000	4,756,000
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Borrowings, maximum borrowing capacity		$ 50,000,000				$ 50,000,000
Borrowings		$ 50,000,000
Credit derivative, fair value	4,627,000			14,721,000
Disbursement upon receipt of regulatory approval for Lonca | Residual Loan
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings			$ 2,020,000	2,029,000	$ 0
Disbursement upon receipt of regulatory approval for Lonca | Derivatives
Disclosure of detailed information about borrowings [line items]
Borrowings				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			$ 109,700,000
Interest expense on borrowings			$ 5,845,000
Senior Secured Term Loans | Secured Overnight Financing Rate (SOFR)
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	14.99%		16.10%

Convertible loans - Valuation o

Convertible loans - Valuation of Derivative (Details)	May 19, 2020 $ / shares	Dec. 31, 2022 $ / shares period	Dec. 31, 2021 period $ / shares
Initial Public Offering
Disclosure of detailed information about borrowings [line items]
Offering price per share (in USD per share)	$ 19
Written put options (in USD per share) | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		24.70	24.70
Written put options (in USD per share) | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		28.07	28.07
Forced Conversion Price (in USD per share) | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		67.93	67.93
Forced Conversion Price (in USD per share) | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		77.19	77.19
Share Price (in USD per share) | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		10.33	20.20
Share Price (in USD per share) | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		10.33	20.20
Risk Free, Interest Rate | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.032	0.010
Risk Free, Interest Rate | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.032	0.010
Expected Volatility | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.85	0.77
Expected Volatility | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.85	0.77
Expected Term | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | period		32.5	40
Expected Term | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | period		32.5	40
Dividend Yield | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0	0
Dividend Yield | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0	0
Recovery Rate [Member] | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.05	0.05
Recovery Rate [Member] | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.05	0.05
Implied Bond Yield [Member] | Derivatives | Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations		0.120	0.088
Implied Bond Yield [Member] | Derivatives | Disbursement upon receipt of regulatory approval for Lonca
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	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	$ 7,684	$ 10,418	$ 4,756
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	5,664	8,389	4,756
Disbursement upon receipt of regulatory approval for Lonca
Disclosure of detailed information about borrowings [line items]
Interest expense on borrowings	$ 2,020	$ 2,029	$ 0

Convertible loans - Change in F

Convertible loans - Change in Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	$ 25,650	$ 34,893	$ (45,411)
Disbursement upon completion of IPO
Disclosure of detailed information about borrowings [line items]
Gains (losses) on change in fair value of derivatives	15,556	28,003	(23,432)
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	3,454	(21,979)
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	$ 10,094	$ 3,436	$ 0

Deerfield Warrants - Narrative

Deerfield Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Warrant Obligation, Fair Value	$ 4,000
Weighted average remaining contractual life of outstanding share options		8 years 5 months 15 days	8 years 8 months 12 days	9 years 3 months 14 days
Facility Agreement with Deerfield Partners, L.P.
Disclosure of detailed information about borrowings [line items]
Warrant Obligation, Fair Value	$ 12,297	$ 793
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) - Dec. 31, 2022 - Deerfield Warrants	Total	shares	$ / shares	period
Black-Scholes Value | Minimum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations | shares		0.20
Black-Scholes Value | Maximum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations			0.16
Derivatives | Exercise Price | Minimum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations			24.70
Derivatives | Exercise Price | Maximum
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations			28.07
Derivatives | Forced Conversion Price (in USD per share)
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations			3.84
Derivatives | Share Price (in USD per share)
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations			0.043
Derivatives | Risk Free, Interest Rate
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	0.70
Derivatives | Expected Term
Disclosure of detailed information about borrowings [line items]
Key inputs for valuations	28.69041095890411			0

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 19, 2020
Disclosure of reserves within equity [line items]
Issue Of Equity Through Exchange Agreement		$ 19,834
Loss on extinguishment		(42,114)	$ 0	$ 0
Sale of stock, price per share (in USD per share)					$ 19
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 (in shares)	733,568
Sale of stock, price per share (in USD per share)	$ 8.52
Proceeds from public offering of common shares, net of transaction costs	$ 6,100
Share premium
Disclosure of reserves within equity [line items]
Issue Of Equity Through Exchange Agreement		$ 19,640

Share-based compensation expe_2

Share-based compensation expense - Narrative (Details)				12 Months Ended
	May 11, 2022 shares	Mar. 07, 2022 shares	Apr. 15, 2020 $ / shares shares	Dec. 31, 2022 USD ($) shares $ / shares	Dec. 31, 2021 USD ($) shares $ / shares	Dec. 31, 2020 USD ($) shares $ / shares	Nov. 16, 2022 shares	Jun. 30, 2022 shares	Mar. 29, 2021 shares	May 19, 2020 $ / shares	Dec. 31, 2019 shares	Nov. 30, 2019 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Treasury shares (in shares)			597,774
Expense recognized | $				$ 50,637,000	$ 60,555,000	$ 42,928,000
Sale of stock, price per share (in USD per share) | $ / shares										$ 19
Number of shares reserved for issue under options and contracts for sale of shares (in shares)				11,700,000				782,700
Share-based compensation expense | $				$ 49,322,000	$ 60,480,000	$ 37,585,000
Number of shares granted to compensate holders "out-of-the-money" (in shares)						388,333
Awards vested or exercisable (in shares)					3,760,408
Number of awards outstanding (in shares)				10,755,494	6,640,200	4,276,973					1,020,434
Number of awards expired (in shares)				281,325	1,675	0
Weighted average exercise price of share options exercisable (in USD per share) | $ / shares				$ 18.77
Weighted average remaining life of exercisable shares				7 years 3 months 14 days
Fair value grant date (in USD per share) | $ / shares				$ 9.63	$ 28.22	$ 28.62
Shares vested (in shares)				708,184	88,935
Weighted average remaining contractual life of outstanding share options				8 years 5 months 15 days	8 years 8 months 12 days	9 years 3 months 14 days
Liabilities from share-based payment transactions | $				$ 450,000
Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $				$ 31,849,000	$ 50,647,000	$ 33,355,000
Vesting period				3 years
Fair value grant date (in USD per share) | $ / shares				$ 6.24	$ 19.76	$ 21.27
Award life				10 years
Number of instruments granted in share-based payment arrangement		1,867,076
Share Options | Tranche One
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting				25%
Share Options | Tranche Two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting				25%
Share Options | Tranche Three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting				25%
Share Options | Tranche Four
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting				25%
Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period				3 years
Award life				10 years
Shares vested (in shares)				995,629	51,828
Number of instruments granted in share-based payment arrangement	1,298,700	570,340
Share Purchase Plan 2013 And Share Purchase Plan 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Borrowings settlement (in USD per share) | $ / shares			$ 18.75
Expense recognized | $						$ 6,425,000
Share Purchase Plan 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $				$ 0	$ 0	7,417,000
Incentive Plan 2014 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $						$ 361,000
Number of common shares transferred to share-based equity plan (in shares)						356,144
Payments for withheld tax and social charges | $						$ 5,343,000
Strike price (in USD per share) | $ / shares					$ 19
Vesting period					4 years
2019 Equity Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $				$ 50,439,000	$ 60,555,000	35,150,000
Vesting period					3 years
Number of shares reserved for issue under options and contracts for sale of shares (in shares)				2,437,884			2,207,550		6,000,000			16,027,550
Share-based compensation expense | $				$ 145,102,000	$ 95,978
2019 Equity Incentive Plan | Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized | $				$ 31,849,000	$ 50,647,000	$ 33,355,000
Special Retention Award | Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting				50%

Share-based compensation expe_3

Share-based compensation expense - Schedule of Number of Awards Outstanding and Weighted Average Strike Price (Details)	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares	Dec. 31, 2020 shares $ / shares
Share-based Payment Arrangements [Abstract]
Average strike price in USD per share, At the beginning of the year (in USD per share) | $ / shares	$ 27.23	$ 26.45	$ 18.75
Fair value grant date (in USD per share) | $ / shares	9.63	28.22	28.62
Average strike price in USD per share, Forfeited (in USD per share) | $ / shares	23.27	24.82	19.83
Average strike price in USD per share, Exercised (in USD per share) | $ / shares	0	18.81	18.75
Average strike price in USD per share, At the end of the year (in USD per share) | $ / shares	$ 18.30	$ 27.23	$ 26.45
Number of awards, At the beginning of the year (in shares) | shares	6,640,200	4,276,973	1,020,434
Number of awards, Granted (in shares) | shares	5,754,786	2,572,008	3,347,766
Number of awards, Forfeited (in shares) | shares	(1,358,167)	(165,724)	(88,332)
Number of awards expired (in shares) | shares	(281,325)	(1,675)	0
Number of awards, Exercised (in shares) | shares	0	(41,382)	(2,895)
Number of awards, At the end of the year (in shares) | shares	10,755,494	6,640,200	4,276,973
Weighted average remaining contractual life of outstanding share options	8 years 5 months 15 days	8 years 8 months 12 days	9 years 3 months 14 days
Weighted average exercise price of share options expired in share-based payment arrangement | $ / shares	$ 27.53	$ 18.75	$ 0

Share-based compensation expe_4

Share-based compensation expense - Schedule of Share Options Expiry Date And Strike Prices (Details) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of awards outstanding (in shares)	10,755,494	6,640,200	4,276,973	1,020,434

Share-based compensation expe_5

Share-based compensation expense - Schedule of Fair Value Assumptions For Options Granted (Details)	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares	Dec. 31, 2020 shares $ / shares
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price (in USD per share)	$ 3.04	$ 19.94	$ 15.95
Strike price (in USD per share)	$ 3.04	$ 19.94	$ 18.75
Expected volatility	70%	70%	8,000%
Award life | shares		5.50	5.02
Risk-free interest rate	146%	0.51%	0.29%
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price (in USD per share)	$ 19.69	$ 32.22	$ 48.77
Strike price (in USD per share)	$ 19.69	$ 32.22	$ 48.77
Expected volatility	80%	85%	20,600%
Award life | shares	6.08	6.08	6.08
Risk-free interest rate	413%	1.33%	0.70%

Share-based compensation expe_6

Share-based compensation expense - Schedule of Other Equity Instruments Outstanding (Details)	12 Months Ended
	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Shares vested (in shares)	(708,184)	(88,935)
Restricted Share Units (RSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of awards, beginning of period (in shares)	663,055	149,984
Number of awards granted (in shares)	2,139,831	574,143
Number of awards, end of period (in shares)	1,585,877	663,055
Weighted average grant date fair value, beginning balance (in USD per share) | $ / shares	$ 30.95	$ 46.50
Weighted average grant date fair value, granted (in USD per share) | $ / shares	9.34	28.17
Weighted average grant date fair value, vested (in USD per share) | $ / shares	$ 15.12	$ 45.56
Shares vested (in shares)	(995,629)	(51,828)
Weighted average grant date fair value, forfeited (in USD per share) | $ / shares	$ 20	$ 28.70
Number of award forfeited (in shares)	(221,380)	(9,244)
Weighted average grant date fair value, ending balance (in USD per share) | $ / shares	$ 13.26	$ 30.95

Share-based compensation expe_7

Share-based compensation expense - Schedule of Share-based Compensation Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Reserve of share-based payments, beginning balance	$ 60,480	$ 37,585
Expense recognized	50,637	60,555	$ 42,928
Reserve of share-based payments, ending balance	49,322	60,480	37,585
Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	31,849	50,647	33,355
Incentive Plan 2014 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase (Decrease) In Reserve Of Share-Based Payments	0	0	361
Expense recognized			361
Tax expense from share-based payment transactions with employees	0	0	(5,343)
Share Purchase Plan 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	0	0	7,417
2019 Equity Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	50,439	60,555	35,150
Tax expense from share-based payment transactions with employees	(1,315)	(75)	0
2019 Equity Incentive Plan | Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	31,849	50,647	33,355
2019 Equity Incentive Plan | Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	18,590	9,908	1,795
ESPP | Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized	$ 198	$ 0	$ 0

Deferred royalty obligation (De

Deferred royalty obligation (Details) - USD ($)		12 Months Ended
	Aug. 25, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement	$ 325,000,000
Proceeds from deferred royalty obligation		$ 225,000,000	$ 225,000,000
Royalty Obligation, Transaction Costs		7,000,000	6,998,000
Royalty Obligation, Payments		10,998,000	213,000
Royalty Obligation, Interest		23,200,000	6,752,000
Royalty Obligation, Financial Income (Expense) Cumulative Catch-Up Adjustment		15,402,000	936,000
Royalty Purchase Agreement, Upward Adjustment Percent, Based On Performance Tests	(10.00%)
Royalty Purchase Agreement, Royalty Rate Percent	7%
Royalty Purchase Agreement, High-Single-Digit Percentage Rate	10%
Royalty Purchase Agreement, Royalty Cap, Period Of Payment	36 months
Deferred Royalty Obligation			$ 225,477,000	$ 0
Proceeds From Royalty Purchase Agreement, Net		$ 218,000,000
Royalty Purchase Agreement, Effective Interest Rate		10%
Royalty Purchase Agreement, Termination Period	27 months
Royalty Purchase Agreement, Royalty Cap, Payment Maximum	200%
Royalty Purchase Agreement, Buyout Amount	50%
Royalty Purchase Agreement, Buyout Percent, Continued Payment	50%
Royalty Purchase Agreement, Buyout Percent, Payment	50%
Royalty Purchase Obligation, Maximum		$ 562,500,000
Royalty Purchase Obligation, Minimum		506,300,000
Royalty Purchase Obligation, Change In Controls		$ 450,000,000
Royalty Purchase Agreement, Royalties Paid Under Agreement
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement, Royalty Cap	250%
Royalty Purchase Agreement, Royalties Paid Exceeding Mid-Nine Digit
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement, Royalty Cap	225%
Worldwide (Excluding, China, Hong Kong, Macau, Taiwan, Singapore And South Korea) | ZYNLONTA
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement, Payment Percent On Net Sales	7%
Worldwide | Cami
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement, Payment Percent On Net Sales	7%
Outside Of The United States And Europe | Cami
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Agreement, Payment Percent Of Upfront Or Miestone Payments From Licenses	7%
First Investment Amount
Disclosure of detailed information about borrowings [line items]
Proceeds from deferred royalty obligation	$ 225,000,000
Second Investment Amount
Disclosure of detailed information about borrowings [line items]
Royalty Purchase Additional Proceeds Eligibility	$ 75,000,000

Share capital - Schedule of Mov

Share capital - Schedule of Movement in share capital (Details) $ / shares in Units, $ in Thousands													1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 01, 2022 USD ($) shares	Sep. 06, 2022 USD ($) shares	Sep. 05, 2022 USD ($) shares	Aug. 15, 2022 USD ($) shares	Apr. 01, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Sep. 30, 2020 $ / shares shares	Sep. 28, 2020 USD ($) $ / shares shares	May 19, 2020 USD ($) $ / shares shares	Apr. 24, 2020 shares	Apr. 16, 2020 USD ($) shares	Apr. 15, 2020 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2022 SFr / shares	Nov. 01, 2022 SFr / shares	Apr. 01, 2021 SFr / shares	Dec. 31, 2020 SFr / shares	May 19, 2020 SFr / shares	Apr. 16, 2020 SFr / shares
Disclosure of classes of share capital [line items]
Equity, beginning balance															$ 166,088	$ 335,505	$ 111,156
Shares surrendered to redeem share purchase plan promissory notes																	0
Shares surrendered to redeem share purchase plan promissory notes (in shares) | shares												(597,774)
Share issue related cost															(31)
Issuance of shares through capitalization of reserves																	0
Issuance of shares through capitalization of reserves (in shares) | shares											4,777,996
Issuance of shares to be held as treasury shares			$ 254		$ 131										0	0	0
Issuance of shares to be held as treasury shares (in shares) | shares			3,123,865		1,500,000
Grant of shares to settle 2014 incentive plan awards																	0
Issuance of shares at initial public offering																	232,668
Sale of shares under greenshoe option																	34,900
Transaction costs, initial public offering and greenshoe option																	(23,355)
Issuance of shares at follow-on offering																	204,000
Transaction costs, follow-on offering																	(15,084)
Exercise of options															$ 0	$ 778	$ 54
Exercise of options (in shares) | shares															0	41,382	2,895
Total transactions with owners															$ 75,263	$ 61,258	$ 470,768
Equity, ending balance						$ 335,505							$ 335,505	$ 88,727	$ 88,727	$ 166,088	335,505
Par value per share (value per share) | (per share)							$ 0.08	$ 34	$ 19			$ 18.75						SFr 0.08	SFr 0.08	SFr 0.008	SFr 0.08	SFr 0.008	SFr 0.008
Shares vested (in shares) | shares															708,184	88,935
Equity Attributable To Share Transactions
Disclosure of classes of share capital [line items]
Equity, beginning balance															$ 988,144	$ 987,366	$ 554,183
Number of shares outstanding, beginning of period (in shares) | shares															76,810,478	76,721,543	52,096,960
Shares surrendered to redeem share purchase plan promissory notes (in shares) | shares												(597,774)
Share issue related cost									$ (23,355)
Issuance of shares through capitalization of reserves (in shares) | shares											4,777,996
Elimination of fractional holdings (in shares) | shares										51
Grant of shares to settle 2014 incentive plan awards (in shares) | shares									356,144
Issuance of shares at initial public offering									$ 232,668
Issuance of shares at initial public offering (in shares) | shares									12,245,631
Sale of shares under greenshoe option									$ 34,900
Sale of shares under greenshoe option (in shares) | shares									1,836,844
Issuance of shares at follow-on offering (in shares) | shares								6,000,000
Issuance of shares at follow-on offering								$ 204,000
Transaction costs, follow-on offering								$ 15,084
Other (in shares) | shares							2,796
Exercise of options						$ 54									$ 0	$ 778
Exercise of options (in shares) | shares						2,895
Total transactions with owners															$ 25,941	$ 778	$ 433,183
Movements during the year (in shares) | shares															3,832,049	88,935	24,624,583
Equity, ending balance						$ 987,366							$ 987,366	$ 1,014,085	$ 1,014,085	$ 988,144	$ 987,366
Number of shares outstanding, ending of period (in shares) | shares						76,721,543							76,721,543	80,642,527	80,642,527	76,810,478	76,721,543
Number Of Shares Increased (Decreased) Through Exchange Agreement | shares				2,390,297
Increase (Decrease) Through Exchange Agreement, Net Of Transaction Costs				$ 19,834
Number Of Shares Increased (Decreased) Through Purchase Agreement | shares		733,568
Increase (Decrease) Through Purchase Agreement, Net Of Transaction Costs		$ 6,130
Shares vested (in shares) | shares															708,184	88,935
Number Of Shares, Increased (Decreased) Through ATM Facility | shares	0
Increase (Decrease) Through ATM Facility	$ (23)
Issued share capital
Disclosure of classes of share capital [line items]
Equity, beginning balance															$ 6,445	$ 6,314	$ 4,361
Number of shares outstanding, beginning of period (in shares) | shares															78,270,000	76,770,000	53,337,500
Issuance of shares through capitalization of reserves											$ 393						$ 393
Issuance of shares through capitalization of reserves (in shares) | shares											4,777,996
Issuance of shares to be held as treasury shares									$ 34						$ 254	$ 131	34
Issuance of shares to be held as treasury shares (in shares) | shares									408,873
Issuance of shares at initial public offering									$ 1,007								1,007
Issuance of shares at initial public offering (in shares) | shares									12,245,631
Issuance of shares at follow-on offering (in shares) | shares								6,000,000
Issuance of shares at follow-on offering								$ 519									519
Total transactions with owners															$ 867	$ 131	$ 1,953
Movements during the year (in shares) | shares															10,771,946	1,500,000	23,432,500
Equity, ending balance						$ 6,314							$ 6,314	$ 7,312	$ 7,312	$ 6,445	$ 6,314
Number of shares outstanding, ending of period (in shares) | shares						76,770,000							76,770,000	89,041,946	89,041,946	78,270,000	76,770,000
Number Of Shares, Increased (Decreased) Through ATM Facility | shares														7,648,081
Increase (Decrease) Through ATM Facility	613
Share premium
Disclosure of classes of share capital [line items]
Equity, beginning balance															$ 981,827	$ 981,056	$ 549,922
Shares surrendered to redeem share purchase plan promissory notes												$ 11,208					11,208
Share issue related cost									$ (23,355)
Issuance of shares through capitalization of reserves											$ (393)						(393)
Grant of shares to settle 2014 incentive plan awards									(29)								(29)
Issuance of shares at initial public offering									231,661								231,661
Sale of shares under greenshoe option									23,591								23,591
Transaction costs, initial public offering and greenshoe option																	(23,355)
Issuance of shares at follow-on offering								203,481									203,481
Transaction costs, follow-on offering								$ 15,084									(15,084)
Exercise of options													$ 54		(62)	771	54
Total transactions with owners															25,625	771	431,134
Equity, ending balance						$ 981,056							981,056	$ 1,007,452	1,007,452	981,827	981,056
Increase (Decrease) Through Exchange Agreement, Net Of Transaction Costs				$ 19,640
Increase (Decrease) Through Purchase Agreement, Net Of Transaction Costs		$ 6,070
Increase (Decrease) Through ATM Facility	$ (23)
Treasury shares
Disclosure of classes of share capital [line items]
Equity, beginning balance															$ (128)	$ (4)	$ (100)
Number of shares outstanding, beginning of period (in shares) | shares															(1,459,522)	(48,457)	(1,240,540)
Shares surrendered to redeem share purchase plan promissory notes												$ (11,208)					$ (11,208)
Shares surrendered to redeem share purchase plan promissory notes (in shares) | shares												(597,774)
Elimination of fractional holdings (in shares) | shares										51
Issuance of shares to be held as treasury shares			$ (254)		$ (131)				$ (34)						$ (254)	$ (131)	(34)
Issuance of shares to be held as treasury shares (in shares) | shares			(3,123,865)		(1,500,000)				(408,873)
Grant of shares to settle 2014 incentive plan awards									$ 29								29
Grant of shares to settle 2014 incentive plan awards (in shares) | shares									356,144
Sale of shares under greenshoe option									$ 11,309								11,309
Sale of shares under greenshoe option (in shares) | shares									1,836,844
Other (in shares) | shares							2,796
Exercise of options															62	7
Exercise of options (in shares) | shares						2,895
Total transactions with owners															$ (551)	$ (124)	$ 96
Movements during the year (in shares) | shares															(6,939,897)	(1,411,065)	1,192,083
Equity, ending balance						$ (4)							$ (4)	$ (679)	$ (679)	$ (128)	$ (4)
Number of shares outstanding, ending of period (in shares) | shares						(48,457)							(48,457)	(8,399,419)	(8,399,419)	(1,459,522)	(48,457)
Number Of Shares Increased (Decreased) Through Exchange Agreement | shares				2,390,297
Increase (Decrease) Through Exchange Agreement, Net Of Transaction Costs				$ 194
Number Of Shares Increased (Decreased) Through Purchase Agreement | shares		733,568
Increase (Decrease) Through Purchase Agreement, Net Of Transaction Costs		$ 60
Number Of Shares, Increased (Decreased) Through ATM Facility | shares	(7,648,081)
Increase (Decrease) Through ATM Facility	$ (613)

Share capital - Narrative (Deta

Share capital - Narrative (Details) SFr / shares in Units, $ / shares in Units, $ in Thousands

12 Months Ended

Aug. 15, 2022 USD ($) $ / shares shares

Dec. 31, 2022 USD ($)

Dec. 31, 2022 CHF (SFr) SFr / shares shares

Nov. 01, 2022 SFr / shares

Jun. 30, 2022 shares

Apr. 01, 2021 SFr / shares

Dec. 31, 2020 SFr / shares

Sep. 30, 2020 $ / shares

Sep. 28, 2020 $ / shares

May 19, 2020 $ / shares

May 19, 2020 SFr / shares

Apr. 16, 2020 SFr / shares

Apr. 15, 2020 $ / shares

Disclosure of classes of share capital [line items]

Number of shares authorized (in shares)

30,753,351

Par value per share (CHF per share) | (per share)

SFr 0.08

SFr 0.08

SFr 0.008

SFr 0.08

$ 0.08

$ 34

$ 19

SFr 0.008

SFr 0.008

$ 18.75

Number of shares reserved for exercise of options, other rights to receive shares or conversion rights granted to employees (in shares)

11,700,000

782,700

Shares reserved for exercise of options, other rights to receive shares or conversion rights granted to employees | SFr

SFr 936,000

Shares reserved for exercise of options, other rights to receive shares or conversion rights granted to employees, par value (CHF per share) | SFr / shares

SFr 0.08

Sale of stock, price per share (in USD per share) | $ / shares

$ 19

Issue Of Equity Through Exchange Agreement | $

$ 19,834

Warrants, Tranche Two

Disclosure of classes of share capital [line items]

Convertible Notes, Shares Converted

2,390,297

Share premium

Disclosure of classes of share capital [line items]

Issue Of Equity Through Exchange Agreement | $

$ 19,640

Purchasers

Disclosure of classes of share capital [line items]

Proceeds from public offering of common shares, net of transaction costs | $

$ 6,100

Sale of stock, price per share (in USD per share) | $ / shares

$ 8.52

Number of shares issued (in shares)

733,568

Share Subscription Agreement

Disclosure of classes of share capital [line items]

Number of shares issued (in shares)

3,123,865

Authorised Share Capital

Disclosure of classes of share capital [line items]

Authorised share capital | SFr

SFr 2,460,268

Conditional Share Capital

Disclosure of classes of share capital [line items]

Authorised share capital | SFr

SFr 1,432,776

Number of shares authorized (in shares)

17,909,703

Par value per share (CHF per share) | SFr / shares

SFr 0.08

Commitments - Schedule of Commi

Commitments - Schedule of Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	$ 434,313	$ 446,575
Development
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	102,108	106,470
Regulatory
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	39,650	44,150
Sales-based
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	292,555	295,955
Pre-clinical
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	264,016	272,166
Pre-clinical | Development
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	54,861	55,111
Pre-clinical | Regulatory
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	20,500	25,000
Pre-clinical | Sales-based
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	188,655	192,055
Phase I
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	163,609	164,275
Phase I | Development
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	40,559	41,225
Phase I | Regulatory
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	19,150	19,150
Phase I | Sales-based
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	103,900	103,900
Phase II
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	6,688	10,134
Phase II | Development
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	6,688	10,134
Phase II | Regulatory
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	0	0
Phase II | Sales-based
Disclosure Of Detailed Information About Commitments [Line Items]
Contractual capital commitments for potential milestone payments under collaboration agreements	$ 0	$ 0

Commitments - Narrative (Detail

Commitments - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Commitments [Line Items]
Research and development expenses	$ 187,898	$ 158,002	$ 142,032
Phase II
Disclosure Of Detailed Information About Commitments [Line Items]
Research and development expenses	5,000
Accrued expenses	$ 5,000

Related parties - Narrative (De

Related parties - Narrative (Details)							12 Months Ended
	Oct. 09, 2020 $ / shares shares	Sep. 28, 2020 $ / shares shares	Jun. 04, 2020 shares	May 19, 2020 $ / shares shares	Apr. 16, 2020 shares	Apr. 15, 2020 shares	Dec. 31, 2022 USD ($) shares subsidiary $ / shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares
Disclosure of transactions between related parties [line items]
Services received, related party transactions | $							$ 0
Shares surrendered to redeem share purchase plan promissory notes (in shares)						597,774
Issuance of shares through capitalization of reserves (in shares)					4,777,996
Number of awards, Granted (in shares)							5,754,786	2,572,008	3,347,766
Outstanding share capital							2%
Amounts payable, related party transactions | $							$ 20,000	$ 0
Amounts receivable, related party transactions | $							805,000	789,000
Clinical Trial And Service Costs | $							$ 2,768,000	$ 2,268,000
Share Options
Disclosure of transactions between related parties [line items]
Vesting period							3 years
Initial Public Offering
Disclosure of transactions between related parties [line items]
Number of shares issued (in shares)				14,082,475
Offering price per share (in USD per share) | $ / shares				$ 19
Over-Allotment Option
Disclosure of transactions between related parties [line items]
Offering price per share (in USD per share) | $ / shares	$ 34	$ 34
Increase through shares issued under over-allotment option (in shares)	900,000
Related parties
Disclosure of transactions between related parties [line items]
Shares surrendered to redeem share purchase plan promissory notes (in shares)						556,799
Issuance of shares through capitalization of reserves (in shares)					1,222,966
Auven Therapeutics Holdings, L.P.
Disclosure of transactions between related parties [line items]
Number of subsidiaries provide services to | subsidiary							3
HPWH TH AG | Initial Public Offering
Disclosure of transactions between related parties [line items]
Number of shares issued (in shares)				950,000
Auven Therapeutics GP Ltd | Over-Allotment Option
Disclosure of transactions between related parties [line items]
Number of shares issued (in shares)		900,000
Chairman of the Board of Directors
Disclosure of transactions between related parties [line items]
Number of awards, Granted (in shares)			341,403				1,125,545
Strike price (in USD per share) | $ / shares							$ 18.75
Outstanding share capital							2%
Chairman of the Board of Directors | Share Options
Disclosure of transactions between related parties [line items]
Vesting period							3 years

Related parties - Schedule of K

Related parties - Schedule of Key Management Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party [Abstract]
Salaries and other short-term employee costs	$ 10,582	$ 8,872	$ 7,690
Pension costs	426	442	455
Share-based compensation expense	23,323	24,649	16,752
Other compensation	241	142	196
Key management compensation	$ 34,572	$ 34,105	$ 25,093

Loss per share (Details)

Loss per share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Net loss	$ (155,800)	$ (230,026)	$ (246,290)
Weighted average number of shares in issue (in shares)	78,152,964	76,748,204	65,410,292

Loss per share - Schedule of Po

Loss per share - Schedule of Potentially Dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [line items]
Potentially dilutive securities	17,860,091,000	10,313,255,000	4,633,419,000
2019 Equity Incentive Plan - Share Options
Earnings per share [line items]
Potentially dilutive securities	11,156,101,000	5,951,115,000	2,904,673,000
2019 Equity Incentive Plan - RSUs
Earnings per share [line items]
Potentially dilutive securities	1,633,507,000	495,879,000	63,281,000
Conversion of the principal amount of convertible loans into the Company's common shares
Earnings per share [line items]
Potentially dilutive securities	0	3,866,261,000	1,665,465,000
Outstanding warrants
Earnings per share [line items]
Potentially dilutive securities	4,940,135,000	0	0
2022 ESPP
Earnings per share [line items]
Potentially dilutive securities	130,348,000	0	0

Foreign currency exchange rat_2

Foreign currency exchange rate (Details) - $ / £	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effects Of Changes In Foreign Exchange Rates [Abstract]
Closing rate, GBP 1	1.2097	1.3512	1.3650
Weighted average exchange rate, GBP 1	1.1847	1.3741	1.2842

Product revenues, net (Details)

Product revenues, net (Details) - USD ($) $ in Thousands		1 Months Ended		12 Months Ended
	Jan. 18, 2022	Jul. 31, 2022	Jan. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue				$ 209,908	$ 33,917	$ 0
GTN Sales Adjustment				3,746	2,590	0
GTN sales adjustments for current year sales				15,200	5,493
GTN sales adjustments for prior year sales				(549)	0
Credits, payments and reclassifications to Accounts payable				(13,495)	(2,903)
Accounts receivable, net				2,151	1,204
Other current liabilities				1,595	1,386
Proceeds From License Agreement	$ 30,000
License Agreement, Milestone Payments	$ 205,000
License Agreement
Disclosure of disaggregation of revenue from contracts with customers [line items]
Proceeds From License Agreement		$ 55,000
License Agreement, Milestone Payments		382,500
License Agreement, Capped Contribution		$ 10,000
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			$ 50,000
Product Revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue				$ 74,908	$ 33,917	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Current work in progress	$ 18,165	$ 10,562
Current finished goods	399	560
Inventories	$ 18,564	$ 11,122

Interests in joint venture (Det

Interests in joint venture (Details) $ in Thousands		12 Months Ended
	Dec. 14, 2020 product	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Disclosure of joint ventures [line items]
Interest in joint venture		$ 31,152	$ 41,236
Deferred Gain On Investment In Joint Venture		23,539
Fair value of equity interest in joint venture		48,040	50,000
Proportion of ownership interest in joint operation	51%
Overland ADCT BioPharma
Disclosure of joint ventures [line items]
Number Of Products Developed And Commercialized In Joint Venture | product	1
Number Of Product Candidates Developed And Commercialized In Joint Venture | product	3
Interest in joint venture		31,152	41,236	$ 47,908
Share of results in joint venture		$ (10,084)	(6,672)
Gain On Investment In Joint Venture			$ 24,501

Interests in joint venture - Sc

Interests in joint venture - Schedule (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of joint ventures [line items]
Cash and cash equivalents	$ 326,441	$ 466,544	$ 439,195	$ 115,551
Intangible assets	14,360	13,582
Total liabilities	(440,441)	(451,884)
Total operating expense	333,535	295,637	219,263
Net loss	(155,800)	(230,026)	(246,290)
Overland ADCT BioPharma | Overland ADCT BioPharma
Disclosure of joint ventures [line items]
Cash and cash equivalents	19,261	39,318
Current prepayments and other current assets	2	15
Intangible assets	49,249	48,040
Total liabilities	(3,062)	(2,828)
Net assets	65,450	84,545
Total operating expense	20,228	13,876	269
Other income	(1,232)	(259)	0
Net loss	$ 18,996	$ 13,617	$ 269

Events after the reporting date

Events after the reporting date (Details) $ / shares in Units, $ in Thousands

12 Months Ended

Feb. 02, 2023 shares

Jan. 30, 2023 USD ($)

Dec. 31, 2022 USD ($) shares

Dec. 31, 2021 USD ($) shares

Dec. 31, 2020 USD ($) shares

Mar. 06, 2023 shares employee $ / shares

Feb. 08, 2023 shares

Nov. 16, 2022 shares

Jun. 30, 2022 shares

Mar. 29, 2021 shares

Dec. 31, 2019 shares

Nov. 30, 2019 shares

Disclosure of non-adjusting events after reporting period [line items]

Number of awards, Granted (in shares)

5,754,786

2,572,008

3,347,766

Number of shares reserved for issue under options and contracts for sale of shares (in shares)

11,700,000

782,700

Number Of Employees Holding Stock Options | employee

256

Number of awards outstanding (in shares)

10,755,494

6,640,200

4,276,973

1,020,434

Lease liabilities, contractual rent | $

$ 7,661

$ 8,023

$ 3,467

United Kingdom Office

Disclosure of non-adjusting events after reporting period [line items]

Operating Lease Term

8 years

2019 Equity Incentive Plan

Disclosure of non-adjusting events after reporting period [line items]

Number of shares reserved for issue under options and contracts for sale of shares (in shares)

2,437,884

2,207,550

6,000,000

16,027,550

Share-Based Compensation

Disclosure of non-adjusting events after reporting period [line items]

Number of awards outstanding (in shares)

3,200,000

Number Of Share Options Exchanged

1,400,000

Share-Based Compensation | Minimum

Disclosure of non-adjusting events after reporting period [line items]

Exercise price of outstanding share options | $ / shares

$ 8.12

Share-Based Compensation | Maximum

Disclosure of non-adjusting events after reporting period [line items]

Exercise price of outstanding share options | $ / shares

$ 48.77

Share-Based Compensation | 2019 Equity Incentive Plan

Disclosure of non-adjusting events after reporting period [line items]

Number of shares reserved for issue under options and contracts for sale of shares (in shares)

17,741,355

Increase In Number Of Shares Reserved For Issue Under Options And Contracts For Sale Of Sahres

1,713,805

Letter Of Agreement

Disclosure of non-adjusting events after reporting period [line items]

Number Of Shares Issued To Facilitate Public Offering

12,000,000

Lease | United Kingdom Office

Disclosure of non-adjusting events after reporting period [line items]

Lease liabilities, contractual rent | $

$ 7,900

Uncategorized Items - adc-20221

Label	Element	Value
Minimum [Member]
Lease, Rent Escalation Percent	adc_LeaseRentEscalationPercent	2%
Maximum [Member]
Lease, Rent Escalation Percent	adc_LeaseRentEscalationPercent	4%