ADCT - Earnings call transcript Q4 2021

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Operator

Welcome to the ADC Therapeutics Fourth Quarter and Year End 2021 Financial Results Conference Call. My name is Josh and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to Amanda Hamilton, Investor Relations Manager. begin. may you Amanda,

Amanda Hamilton

ADCT quarter Jenn This quarter XXXX issued financial and This today's on business operator. Press Herron, highlights Officer, under announcing Financial will section. Releases results press our results recent update. On the business available is Officer; fourth year Chris Martin, Officer; release the questions. at Camardo, morning, you, ir.adctherapeutics.com a Chief the we call, Chief release and Jennifer website Thank call end Executive year Chief Creel, Joe review and our before opening fourth and Commercial financial Chief Medical full Officer; and for discuss XXXX

reminder, subject Such conference this contain may statements a to forward-looking uncertainties. are and statements. As risks call

as in unless of to applicable to non-IFRS this and accordance with disclaim statements expressly obligation substitute do addition in undertaking limitations as the financial cause or differ from and our a the have or conference Forward-looking IFRS. measures for the should to Exchange also date For Commission Form additional information as forward-looking considered Exhibit earlier in concerning these only implied and so and we section Securities Regarding X-K of and filed forward-looking the or by refer could results includes those presentation be law. update Such titled materially These speak information actual Today's statements you statements expressed statements any statements. today. prepared non-IFRS call required XX.X that and measures. We isolation these Statement to measures U.S. on in Cautionary to of report with financial factors not

reconciliations my Martin. quarter the in now contained to You Chris It for information pass should financial call measures to fourth Chris? the non-IFRS definitional historical our pleasure to company's CEO, refer earnings is of measures. to release the over comparable IFRS the information and

Christopher Martin

also you. The full quarter ZYNLONTA year share to for we year far. encouraged objectives our what accomplish pleased to closed Thanks, pivotal we're so thank Therapeutics. top us forward today. able very our I'm key fourth very XXXX I'm joining and our by executed sharing been Amanda on ADC for looking we and to and results a launch a you, everyone, and out have priority remains milestones with as

we addition, research both able the little challenges call. evolving been QX performance our and with for portfolio product the our will navigate share options And year of Officer, details are and Jennifer XXXX plus later eight a the patients. with as and serve Starting on net to Herron, approximately fourth COVID The an advanced during our to the million In positive differentiated unmet also has Commercial healthy with in team balance. continues cash major have We profile dynamics their which of the at are clinical need testament a the launch. ZYNLONTA physicians, and launch is consider development for academic $XX and resonating in entering DLBCL community the $XX landscape. treatment our they a this months Chief pipeline million sales delivered quarter in in centers to more in market. XXXX. sales The line of third we commercial experienced the

we remain footprint. may are who access we geographic from to DLBCL worldwide benefit Next, to patients our committed relapsed/refractory any expand for expanding working and ZYNLONTA

of and we The continues marketing the license our exclusive the EMA patients regulatory the towards in rapid is intended is ZYNLONTA study The bringing bridging the making Overland fourth to ADCT an serve the progress ZYNLONTA enroll joint basis Mitsubishi for Tanabe development January, in And commercialization patients venture for validated authorization in biopharm to pivotal Japan. in filing. quarter, in to venture which During with application. as II joint announced China. Phase China

ZYNLONTA offer ZYNLONTA in to study We promising as or to our first second-line DLBCL the patients. frontline on with rituximab confirmatory therapy same that combinations study in Phase in and path combination well with III moving registration, unfit a of into including as will focus may continue our ongoing combination frail

result We a prioritizing all our differentiated value Officer, Medical which elaborate areas ZYNLONTA have on care to the benefits where bring would for development patients our we refined Chief Camardo, Joe stakeholders. this moment. in strategy, can most providers health and increased will also in

we development company. In research in advance the our creation robust and for to pipeline and value continue ZYNLONTA, will long-term programs growth addition clinical which the to ensure

the completed Phase have pivotal we and data meeting. we the submitted in Cami, relapsed/refractory of follow-up upcoming trial to II the XX-month For have Hodgkin's lymphoma an

pipeline we AXL. highlighted targeting for programs on in significant February, targeting pipeline tumor of in three solid clinical webcast includes our tumor potential programs ADCT-XXX which KAAGX ADCT-XXX, see our we As and Cami, solid

the the two and platform now the program and team in We about our on our call insights have standard of DLBCL. our on exciting our ZYNLONTA provide will I impact to also more demonstrates as targeting and Jennifer turn launch shortly. would like ADC Jennifer? preclinical the in ADCT-XXX, progress ADCT-XXX, productivity experts. This a solid expanding programs plus pipeline care to line DLKX report over targeting third tumor establishing to of experienced industry of PSMA. you Joe with tell of

Jennifer Herron

into to and ZYNLONTA everyone. quarter Chris second update the our our an full With share good progress. you, very Thank I'm on launch, morning, happy

the the quarter health million driving we months report been in of quarter-over-quarter effort depth and respective of all terms XXXX, pleased representing it’s $XX commercial it’s a have in by of This Through commercial ensures ease and key total robust been and of both by initiatives appreciate progress breadth the ZYNLONTA that and This first across providers flexibility of profile, third million efficacy, of resulting and ZYNLONTA's account net in all net supported steady has of the mentioned, plus administration driven line organization, medical demand. fourth growth and sales XX% seasoned eight U.S. Chris and U.S. XXXX in focused Therapeutics. DLBCL product are their ADC market. in to launch. of $XX differentiated single-agent teams medical patients XXXX, for tolerability broad care As sales successful

significant awareness, in with ZYNLONTA in familiarity share third-line increasing setting seen as the voice proportion ZYNLONTA have of to We lines. increases an and use of compared later

with Chris the his continues ZYNLONTA resonate differentiated As in initial mentioned community-based to physicians. academic remarks, product and profile both

still proportion and represented XX% quarter, ordering equal total During volume an academia the with over the fourth academic coming of accounts from centers of community.

access patient encountered barriers no with our of payer medical for access, so terms teams patients achieved significant broad have In and far.

the end there quarter, community the modest reflective XXXX in in in year prescribing QX, academic both some COVID was fourth intent some on anticipation inventory believe landscape our build launch As we examine infusions. patterns face-to-face restrictions ordering and settings, impacted early with future we interactions. of In of

efforts landscape since opportunity as our ZYNLONTA standard monitor in account maximize as last the be line of changing XXXX, ZYNLONTA pivot effectiveness this plus launch commercial even our establish our have multichannel depth, and sharpen to have the breadth We increased will done execution. carefully to continue ready further as our approval care year, initiatives in and to to new we third just we we and through the increases year. With strong

even our benefit hub, our community, date seen during co-pay patient market access community the expect reverification patient our support. support increase and And we from we helps end to and ensure increasing date. and as demands with trajectory even customers physicians' importantly which advancing permanent is are more to we process patients volume which the once patient through by the from coming summary, to receive XXXX. to have In continue the in We offices the and encouraged differentiated code profile, ZYNLONTA's resulting expected performance we J product April feedback patients of anecdotal launch of

standard there a While ability of establish of progression we the in are uncertainties recognize pandemic, line believe we third care. the as with to ZYNLONTA associated our plus

ZYNLONTA's long-term launch cornerstone In addition, are DLBCL first in forward progress. of look as therapy on to line. updated you optimistic we our and a second keeping We potential about

update over provide the portfolio Joe? turn Joe and I'll pipeline. Now, our to clinical to development research call an on

Joe Camardo

Jennifer. Thank you,

our development will updates a share program some then to like and report I'd progress for pipeline. First, provide on the ZYNLONTA I

a Based for value patients to therapy a we great line. for of strategy continue execute clinical opportunity ZYNLONTA and most with lines combinations DLBCL. our earlier see trials emerging in refined program have focused data, in second the We highly ZYNLONTA in on deliver to where first in can ZYNLONTA

First, we are focused rituximab. on the combination with ZYNLONTA and

This results includes combination transplant. trial new by of is LOTIS-X We trial rituximab. The and the running ZYNLONTA are Safety the and ZYNLONTA enrolling. is for not the no data safety suggests initial who later-line confirmatory cell of is of eligible the tolerated. additive. and portion and III the of There from the are trial the patients with randomized combined combination rituximab encouraged events stem second safety is well complete meeting are Phase

of II combination Another with in trial ibrutinib in ZYNLONTA Phase relapsed refractory was DLBCL. in development LOTIS-X, the combination

the With decided LOTIS-X of LOTIS-X. have we results safety to latest discontinue run-in, the

meaningful our LOTIS-X some the need to concurrent a illness regimen cannot is second for or unmet study setting, medical of patients often ZYNLONTA We given studies represent with patients unfit who Unfit even R-CHOP a high dose frail path first the status. studies market of full the exclude to trial, due significant regardless subgroup the age in direct and efforts with In are means These patient new evaluate in of which focus treatments combinations or is XX over and growing of fast addressed excluded R-mini-CHOP This a These because subset to are other patients on combination LOTIS-X line. and by in first-line lacking. of is rituximab be frontline and either patients. our potential potentially the low from course a will whom medical frontline trial or are line. area new patients and frail patients toxicity. a

tolerability tolerability of showing combination, medical serves also the needed second unmet profile protocol initiate LOTIS-X the is single and a significant of this that ZYNLONTA-rituximab half data the leverages efficacy the in agent of study the now run-in we differentiated year. Moreover, with So the the the LOTIS-X ZYNLONTA, and the have to and safety safety. need the

We on in ZYNLONTA therefore, will trial frontline LOTIS-X not DLBCL. R-CHOP in we with focus which dose will finding frontline combination of our and program LOTIS-X was the initiate

II work follicular LOTIS-X we to LOTIS-X or follicular FDA paused advisers Phase in while also rituximab, we Beyond in lymphoma the steps. LOTIS-X trial the potential relapsed With we withdrawn have and was refractory study from explore other on regard comparator our market. lymphoma, next novel will the with Idelalisib the the combinations Therefore, trial. the

opportunity lines second and update follicular on the you future lymphoma. the look remain on first potential the progress. positive to about We you updated and in will plans highly expand forward We in to keeping ZYNLONTA our our in of

to advance plan process the The report for We compiling Moving we the are first lymphoma. of complete II Cami half results on is to medical now of of a at follow-up data the in year in in meeting Phase meeting the in with FDA. our Hodgkin trial and XXXX. one

for will We plans submission our year. the later share this regulatory

solid our our and As three preclinical solid we and tumor recently tumor webcast, portfolio includes pipeline highlighted in programs. clinical two

kilogram trial antitumor safe This synergistic and at tolerable in and advantage that Our tumors. tumors pembro cancer, tumor escalation and the activity. prostate candidate with the ongoing novel so with dose ovarian have for assure XX per cancers tube Ib continued by have triple-negative cancers. shown of and protocol differentially dose of disease of at with the are is Cami level. solid Phase targeting that in for stable XX tumors Phase glioma combination pembrolizumab. is Mipasetamab-uzoptirine optimal In for usual many escalation and dose combination allows dosing The or we The as breast targets in parallel, and This there pembrolizumab cholangiocarcinoma, designed are cell not to first-in-class evaluation escalation solid our shows so scan renal prostate, dose we cancer, the study is protein continues This labs, dose dose pembrolizumab responsive platinum-resistant advanced cancer. cancers KAAGX AXL. the KAAGX models if if highly our Cami ADCT-XXX, far. now of such micrograms of and patients allowed regression. highly combination trials sarcoma. combined In advanced highly be kilogram these warranted in the prevalent in take has I treatment ongoing. expansions, done dose Cami The is per escalation includes overexpressed solid to is results micrograms a with expressed for small on lung, pancreas, cancer, to is we is to carcinoma alone. in ADCT-XXX esophageal are fallopian patients breast, this of And of

combination a first to detected. study in followed We will amplification in Ib planned expansion AXL whom Phase gemcitabine by in year. this in and escalation The the the dose include patients initiate in monotherapy gene sarcoma with half of expect dose patients ADCT-XXX is

tumor our addition In clinical solid to targets programs. we programs, preclinical ADCT-XXX two DLK advanced X. have

developing in neuroendocrine with in Institute. National We this are Cancer collaboration the malignancies

targets ADC. metastatic cancer. recently Our announced our in prostate is optimized PSMA, program This target validated second-generation ADCT-XXX PBD-based a

completing these programs. for We will call financial are that, of currently IND-enabling work over give update. to the both I to turn Jenn With a

Jennifer Creel

Thank you, morning, Joe everyone. and good

in press and ZYNLONTA quarter million approximately XXXX. $XX the fourth today, were eight net earlier the issued $XX reported million in we release As months for sales for

in R&D R&D and million of $XX full September expenses and in cash quarter cash equivalents XXXX. $XX advancing XXXX XXXX of had the expenses as for for year trials and in to treatment fourth million to quarter in same $XXX used full $XXX the activities year $XX $XXX decreased as approval. lower period portfolio. XX, operating December subsequent earlier R&D for in the million XXXX. quarter and $XXX to net same to activities the XXXX. compared as We compared BLA ended for million, and investments quarter for the quarter submission for cash fourth million XXXX, we broad approximately and the million in XX, the XXXX, increased of year million to full following the XX, as for of XXXX the full December net of $XXX were ZYNLONTA As million result the ZYNLONTA cash year lines compared our CMC as compared due expense in a and same

fourth million ZYNLONTA of result compared million $XX increased. quarter loss due for million the to full costs the was for net commercial stage the and year million to fourth XXXX, and expenses and same a compared compared quarter partially marketing due million increased reflects the company. The same were commercial loss the the the and headcount costs higher G&A as $XX primarily million public quarter $XXX launch XXXX for million $XXX quarter and marketing and of company. quarter million the quarter year to million compensation for full and the quarter being full year quarter in expenses decreased year XXXX expenses for million in as full compared Selling million for these a G&A share-based to public XXXX, year for of and selling and that XXXX. increase year to to being in the and As initiatives, of quarter a $XX for the XXXX for higher decrease XXXX were the full $XX share-based to XXXX and for year for for the for of year $XX year a same full expense employee $XX was $XX same the the and full a compensation XXXX. XXXX. ongoing for G&A compared and $X expenses and expense $XX the expenses offset full Net full $XX efforts. fourth by million

same Our quarter the the fourth net the loss year for quarter diluted for in for full compared and net full XXXX the of year share $X.XX per and was loss to $X.XX XXXX. a $X.XX $X

the net and that to net our million as XXXX XXXX same compared $XXX compared described of same full of the $XX of today, tax recognition as U.S., our loss $XX full portfolio. issued to and $XXX quarter increase launch by year primarily per the tax net for million tax a for loss, loss an net full year measure the clinical adjusted deferred for XXXX benefit ZYNLONTA credits. broad quarter and related R&D asset, fourth in $X.XX back income items an adjusted adjusted $X.XX loss net primarily diluted and million investment The loss adjusted XXXX. The decrease million was The the fourth due year the quarter to over year Finally, primarily release result for XXXX XXXX. full in was of as quarter fourth in was to excludes the full Chris? will XXXX in a I earlier press and recording for a year that, adjusted was same year and full the to of a to the in certain the Chris and quarter quarter call $X.XX for loss the $X.XX for share compared turn With the for remarks. closing driven XXXX

Christopher Martin

made conclude, areas we the continuing the advancing in differentiated geographic ZYNLONTA objectives tumor all to Joe Jenn, ZYNLONTA This and hematological well develop your on we quarter, execute business our earlier progress To ahead. the I'm launch fourth questions. are our lines working year the Jennifer. in in to you, includes of positioned our Thank call to now Operator? in of to driving our forward, significant of key therapy, programs. and expand for reach open pleased and solid and pipeline

Operator

first with from Instructions] Cantor. Brian comes Our Cheng question [Operator

with may You your proceed question.

Brian Cheng

Hey guys, my thanks taking for questions.

First factor there? sales? talk inventory on how can reauthorization a on talk sales is can number, of much XQ have for And an a about Jennifer, about how build you couple you I is benefit And the follow-ups. of

Jennifer Herron

Yes. Sure, Brian.

greater-than-expected orders. patient-level access ordering But some that a the the inventory I did the the towards build So accounts, as it's our did took see for communities. should patterns academic the issue The when or to in I the further have terms build, both characterize in because see look of and we of end some we at of say, is year, mentioned, hard we data. we don't inventory to modest institutions key

believe possible we some to the was end the modest So of year. this it build quantify do at point towards not but there it's

of that that In in delay we terms B Part oftentimes a in verification that reverification, patients government sometimes can the happens benefit for drugs benefit result with treatment. think We're patients, all when care sometimes context of the shortage -- and QX. report watching particularly carefully, to down on we'll that but that the some we health worker it in COVID of put have getting

Brian Cheng

then Okay. month. X.X% we increase And last that took noticed you pricing, on a

follow-up we for any number guidance projecting be that your about And on how curious, forward? for have one increase I price the Is Just think that should we more then Joe. years? moving out should

Jennifer Herron

Sure.

about new there think you of. and when recovery. environment, you're take considerations, overall increase impacts So and pricing of political I'm account policy sure aware as We a also recommendations, lot on price are product context and the into physician the reimbursement cost and competitive the

felt considering implications. as been come well altogether than And of appropriate into May the downstream all all it's just So as at a launched we we of in of we've of year each modest year, fact these and the them increase most was factors, this and that been XXXX, time. carefully the price and a less so as

Brian Cheng

for Okay. then Joe. And a quick question

the still conversation your decision into Polaris LOTIS-X. backbone discontinuation front data looking the the you On is doctors, from potential? combination are the important frontline in with I'm and based on R-CHOP partly to line? is it curious, And for have just how

Joe Camardo

ways way of Lonca strength a combination rituximab landscape we're the for change be the to a long-term since try still tree incremental. many And drugs it's decision an remission. from Brian, of term of would approach a I get was to landscape for is they first-line, We're probably LOTIS-X. we our around you the approach. partly a to toxic R-CHOP first have transformative for a new provide these I rid also to with are really frontline. long-term been not the in that lead-in It adding at is use the intern. hesitate but in could use partly looking related that our old remission the to on And to when drugs approach, telling have data to what some of consider related to their the to patients looking Christmas us but get have chance new advisers modern

we're what and to And Polaris I we who line. something patient the find make combination a strengths about to just really the a able population what advances of [ph] benefit that think tolerability have exactly quite a seen a have a lead really a to approach the we're our that now trying the is we a get versus lot of really from in And doing our kinds that. the between advisers later, adding small actually this patients suits who activity. -- I the are ZYNLONTA for and get first you've with difference how to of that which be it's in, confident prefer support which So with don't of And data they group treatments are transformative you is medicine. could big we that the have from improvement trying really that's deserve.

Brian Cheng

Thanks, Great. Joe.

Joe Camardo

Brian. welcome, You're

Operator

Our next question with Cowen. Peaker Boris comes from

may You question. proceed with your

Boris Peaker

continue to line same like just from of I'd the Hi, questioning.

several So is in big the the kind where population frail you're to for in of patient Can targeting patients? DLBCL you this standard projected care next patients the how on and comment it's today what specific is these of LOTIS-X. be years that to

Christopher Martin

that can you -- for it, Jennifer, Joe. first sorry. Go part take

Joe Camardo

No, sometimes a learned, of that stop. sometimes give of or nothing, or going last no, the we one things course part they the and give not give two is it rituximab, a which have there of doctors they care. sometimes to standard I the That's something answer to really they was

but I answer to it. have Sorry of that part

a transformative outcome. in a have So we can place we're where really

guess, I as on Jennifer, to Chris, the like said. defer to you Jennifer Sorry, I'd others,

Jennifer Herron

Yes, certainly.

this the frail this. population. been the really leaders largely with And that there as of enthusiasm clinical said, lot Joe our because trials aren't Boris, So, thought I've a from opportunity, about include and impressed unfit

really U.S. EUX. the reported and considered population and for range in of or XX,XXX in anecdotally the XX% and unfit XX% them approximately first-line program, anywhere or on based patients which just could frail R-Mini-CHOP eligible optimizing of recall the not a the engaged population And R-CHOP is be potentially. between they've we've As first-line comorbidities

patients, I'm the think this leaders point, for very of where with from need, medical perspective, to mostly unmet area going our at uniquely because commercial a thought the about it. is is positioned this patients. address excited support ZYNLONTA So to engaging And an we're I

Boris Peaker

my And approaching you're thinking of you on ZYNLONTA Can is question the that? Great. last strategy. comment European how

Christopher Martin

Yes.

know, the Mitsubishi Lonca we're pleased to very developing Tanabe options you with we're regulatory looking Japan. do As on global And commercialization agreement in pathway. to In into at in markets. for we're alternative still were Europe. the committed progressing we the And well our Europe,

So keep as you updated. develop, will those we

Boris Peaker

Thanks my Great. questions. taking for

Operator

Our next question comes from Kelly Shi with Jefferies.

You your question. may with proceed

Kelly Shi

Thank quarters some patient you taking ZYNLONTA ZYNLONTA the There across questions. if wonder for to my since on able I been launch. has [indiscernible] you're color spectrum. share profile the

is percentage physicians any And in What patients regarding lastly, real-world the it experience? regarding safety taking ZYNLONTA with and from primary what CDXX feedback [indiscernible] beyond of CAR-T? the refractory their patients treated also? the Specifically, post ZYNLONTA of profile split

Christopher Martin

want Jennifer, can protocol of Joe do part? to answer you take the the that just part then first safety maybe and

Jennifer Herron

Chris. Thanks, certainly. Yes,

believe is with seen important have into launch third-line the see I months now, increasing will not importantly, a the now we're versus in LOTIS-X for our And the third-line with nice with NCCN the across later-line of days early ZYNLONTA more how are through real-world unexpected, and hearing evolution in pivotal the we since supported use And patients line our of use now, patients consistent use an In business the we're we XX because with that's through market plus that we the it’s translate entire broad later research predominantly advisory ZYNLONTA lines. profile likely receiving market seeing setting. did engagements and patients. launch with we through indication pleased we're in of into guidelines. boards even the for the earlier of the spectrum by ZYNLONTA benefit proportion But guess So data customers.

is So excited line to opportunity ZYNLONTA as establishing again, standard believe about this is the third our the continue very business how plus the that care. for year of evolving and and we're

mentioned because, complete subsets earlier, the we answer demographic. as rarely Your very don't have necessarily question does we regard difficult with and specifically patient-level do I not to is has receive data to data that

So data, we've me into that held for up I the we LOTIS-X do about, it's thrilled consistent I mean gotten am to see subset say has and on though, market. that. hard the benefit the as across that what based

Kelly Shi

with regards profile? And to safety

Joe Camardo

The me answer. to safety profile is for

severe seeing know dose managing Our But don't what And data showing on knew. in we new, advisers the side in treating consistent quantitative doctor general, and or working from general, nothing from the advice we're based every more effect unexpected, that's here's the on talk and -- is to than LOTIS-X anticipated reports in how label we're LOTIS-X. what We profile. surveillance or have is using nothing nothing we our profile. with already we giving the when the not more delays discontinuations we is

in So the far, practice what we're saw clinical we trial database. seeing in the clinical is consistent what with

Kelly Shi

you. Thank Great.

Joe Camardo

You're welcome.

Operator

you. Thank

of Harrison next Morgan question from Matthew Stanley. comes Our

proceed You question. with your may

Unidentified Analyst

what for my for key thanks to Lonca. penetration centers? for I ask in the the is taking This want question Eisen into about have Matthew community Steve question. your view Hi, a on opportunity is And the [ph] Harrison. I centers.

Christopher Martin

Jennifer?

Jennifer Herron

can I that. No, Yes. take

or I through least predominantly reported, community early is at So also we've had uptake. by driven but the academic volume date to institutions our XXXX, some as

about think the the the J will about move -- As evolution permanent our excited we and we we'll the confirmation, X. We're on receiving of business to be be effective code opportunity community. with April now which have into

because does in practices. provide to greater be timing point code product of pivot new willing for being a to As confidence it physicians community, the reimbursement be a aware, you permanent their try for their can which may around J the is important

setting a permanent community equal -- we that, volume we've believe the evolve of we do say, a greater number that have J from penetration, proportion, So and will as but of accounts an on with I in equal academic institutions code. ZYNLONTA seen terms that the ordering of with opportunity the coming should academic

Unidentified Analyst

That's Thanks. helpful.

Operator

Instructions] next RBC. from question comes Our with [Operator Kennen MacKay

You may proceed with your question.

Kennen MacKay

second market Hi, the size that congrats if newly it's Just the help can percent frontline you I'm with that thanks strategy, the market potential about R-CHOP? represent? LOTIS-X can Maybe patients and indicated DLBCL ZYNLONTA for on your incident questions. of could newly us progress about thinking refocus be for by additive to thinking ibrutinib the the what unfit trial. Or of lack you the taking incident curious decision-making events Could what concern the toxicity for speak a overlapping bit Dr. safety the with that or And other then just trial LOTIS-X versus combo? Was decision related there sufficiently on combos combination more of Camardo. some the and more a ibrutinib? to little the was in to rituximab to efficacy?

Christopher Martin

want take the you do to Jennifer, first Kennen. part?

Jennifer Herron

XX,XXX about And line given the combination single more commercial unmet in high of U.S. patients. the approximately about significant opportunity It I'm is and need so first Yes, strength a if under clinical -- thought a of current is from for a because certainly. they have that sure. between really to commercial be on of the frankly, mentioned, work I it population patients agent doing be understand the quite they it area think by excited going an you medical is have as unfit a of us But qualitatively, anecdotally, that footprint patients to then treatment had with it maybe for And and underserved our this setting, percentage really lot does and we've may frail range enthusiasm rituximab, these some fact from but XX% the would XX%. the trials. somewhere what the opportunity leveraging an depends given leaders, EUX, of Ken, range. opportunity. We're and perspective the profile

Joe Camardo

baseline modest benefit, based it large question your ibrutinib used widely very indication observation perhaps drug does might provide an no. for a benefit in view, the this the a us hope? And and and combination the transforming used. This based our decision chance was ones. to question, treatments a becomes that population a as new have on And a Does decision possible for first adding with using isn't helpful answer And a using which in a line. also that first-line treatment, first-line cure. combination us old indication the an some improving, was drug prove patients cell changing, combination corollary, we answer that to of a line observation some toxicity. not first on in in is I in a the the versus Lonca-rituximab is for also new later their additional eliminating impact overlapping of of underserved. the mentioned allowing drugs as transformation have is That once that Rather, not your is way a of that I to drugs at can add a And chance widely

Kennen MacKay

the there, maybe rituximab. of additive And help to going of your around how sorry, additive the just Can back that -- definitely. sort efficacy some I'm -- set goalposts truly maybe comments you should the Yes, additive? line? response Should line how Or third potential we be that? we've rates thinking the seen there front rituximab of about with maybe we about ZYNLONTA some think efficacy the from in is

Joe Camardo

rate a what actually fourth response We're Yes. in XX% third an that in the a -- there's we you the combination. improvement. our rituximab, our drugs. And evidence than have time, from sample. Think adding also add very it's general, But of as shows is most we as what about seeing exactly actually complete a in cytotoxic on that's and small -- of body I line there's can't line, we I third good. which that's large single mean, will of effectiveness fifth point line, better this labs were to interesting, evidence tell is we're the it rituximab this in the it at pretty agent very because not what line. and just third line seeing is good in seeing

line, come combination out good, is in building an with a sort a we're seeing confirmation the good. said I number -- it's pretty doesn't point. we which on in what a we're at very just LOTIS-X. are the -- our just something actually seeing over early And good seeing this a pretty here. almost number we're biologic It's little I to XX%, improvement But principle looks that's as what but like early So third is at of too

okay. So,

Kennen MacKay

Got it. Joe. Thanks,

Joe Camardo

welcome. You're

Okay.

Operator

time. Thank Martin back I remarks. further over like the at showing turn questions you. And I'm would not any to now to this for any call further Chris

Christopher Martin

a look progress. very day. updated you our Thank all operator good And to today, Bye. you, call keeping you I on We and everyone. for forward wish you that, thank you. much joining our with Thank

Operator

you. call. participating. Thank This you for concludes Thank today's conference

may disconnect. You now

ADC Therapeutics (ADCT) 3 Mar 222021 Q4 Earnings call transcript