- Earnings call transcript Q3 2022

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Operator

Welcome to the ADC Therapeutics Third Quarter 2022 Financial Results Conference Call. My name is Kevin, and I'll be your operator for today's call. At this time, all participants are in listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to Amanda Loshbaugh, Investor Relations Manager. begin. may you Amanda,

Amanda Hamilton

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

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

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

definitional of IFRS non-IFRS company's Mallik. Ameet? in third measures to due refer Ameet It quarter to the information now financial over earnings pleasure is measures. contained should comparable my You to call for historical release to information reconciliation and pass the the

Ameet Mallik

Thanks, joining thank all you us Amanda, for today. and

our proud of presented put the we our executing quarters, I'm patients. elaborate and initiatives achievements to will the produce Hematology data in million, growth began on of the Phase the I X Oncology was the a with driven is our I Society plus forward third progress, strong of sense efficacy Net place providing run-in safety we Zynlonta. in this evidence moment. representing of make are quarter, in direction more sales $XX.X combination. and were would starting patients During targeted and initial Zynlonta's LOTUS across progress QX. the good the quarter, the effort in X was made Congress development company, of the strategy. rituximab Zynlonta some putting Zynlonta trial purpose third and performance second over from third on during like There by results. to in serve DLBCL at we and strong The the the in a XX% September, safety collective highlight continues which second to encouraging program line of to quarter

and China the CHMP for the Zynlonta Greater the the quarter, We and agreement and during commercialization opinion of of we for expect year. a end in an geographic of from Sobi by with received decision positive Europe territories, Japan. international the signed development September a the in As Zynlonta regulatory expansion and excluding

approval. launch takes two making preparations typically upon with three is expect the which to transfer, launch and marketing Sobi progress to after completion good authorization the of months

Overland Japan in partners JV With commercial we Sobi partnership, have Zynlonta worldwide. Mitsubishi and Tanabe the China, the in for

demonstrates activity to the Cami for that strong patients. Turning X HL data the later line significant potential trial the believe Phase offer to a and we clinical benefit lymphoma, Hodgkins from to

extensive now confirmatory regulatory with previously the we our landscape accelerated is anticipated The us that X before more FDA during to guiding to evolving had approvals. approval. Phase However, accelerated towards regarding study dramatically FDA it became be is well interactions considering an underway the clear recent than strongly

are year. we planning BLA our longer such, submit next to As no

the Hodgkin regulatory guidance investments path shortly. will as elaborate their forward. material Joe we continue potential FDA pausing are lymphoma on We our program in this the the dialogue and with regarding

Cami made During also the solid the decision quarter, to we discontinue pembrolizumab with combination the in tumors.

from with our any read-through and for do were were IO some immunotherapy effort tumor pursue the other be there programs, very activity, is our We the clinical interesting of immunomodulatory suited this While signals to us development our expertise. forward. recognize to we compelling partner that fully not may to enough for opportunity other data considerable better This not see approach move solid different required trials.

taking committed clinical preclinical are resource approach to our to a and We are prioritizing programs allocation. disciplined and

give continue our will a of more pipeline rest We to detailed update. progress Joe and the

strong XXXX. have early $XXX expected a with regulatory runway $XXX Zynlonta. EU including extending sheet milestones the in million business cash, cash sales balance potential an in future combined plan with related We approval provided our into milestones, first of million not European and These to

some launch, to Before about the company. I Commercial opportunity new Kristen Smith; Graham our Chief to Harrington this our and Legal like the for I Chief take provide would Peter Officer, Zynlonta additional new details welcome Officer,

with thrilled particular, through are commercial DLBCL space smooth many building would contributions thank company including team relevant continue her talent. on momentum. transition. to company, experience I ensure will with the such of Jennifer a management launch for districting strong a with caliber the In Kristin building has the impressive the commercial to like in the an and organization We high Zynlonta's background mid-December Zynlonta. to Herron stay Jennifer to the of

into Now I'm a the going launch. dive provide to Zynlonta deep

QX launched position initiatives and These and customer-facing this us second the professionals; marketplace steady on plus care patients and and practices momentum one, Zynlonta's community on for We building quarter new in focus in in focused quarters. we well areas: by of initiatives coming three encouraged terms quarters. three, in of The and and are strong patient saw continued in new the third progress share growth share. initiatives two, and networks; health the caregivers. third execution resulting performance are line from awareness, the our We voice

competitive with regional same adoption. and interactions, marketing face-to-face and our more we with our starting is and familiarity, professionals. First, time, increased the new data materials messaging critical care health At capabilities. which the awareness, to trial promotional additional enhanced launch build We

a Second, Zynlonta uptake strong of remained stable. a of the we use same number academic the with the saw At in in relatively community. significant accounts accounts ordering number time, new

the compared XX% XX% seeing to volume, ordering the from of community first Zynlonta of growth segments, time growth accounts academia. In steady greater since terms launch. QX, and rapid for proportion in In our came since both from growth launch, from we're as community, roughly the

now a volume, approximately but of XX-XX community represented segment of accounts volume academic segment our approximately the growth terms In in historically, by QX, business, XX% with is split. the in

of new opportunity unlock served QX, we half starting as a roughly with an key this by community networks. As began market community help contracting us We is important initiative these oncology in networks. will the believe

Although GPO contracts we volume gross costs. the will net, the outweigh modestly our to believe will impact upside

awareness, with in role are QX. line have plus with we Zynlonta an patients the made the pleased and we treatment engagement. multichannel meaningful significant of our patient online and engagement Since integral setting, a third and know the have able increased Overall, in increase decisions. progress making we've launch Lastly, play education that patient caregivers been in efforts. our drive we campaign, interest to We the launch in

to to over our and engage as professionals, academic Looking product forward, regarding the grow profile. and patients quarters community the continue both health we coming confident are we in care community ability differentiated networks segments Zynlonta's

update provide call our turn an to on the I'll to Joe? over Joe Now pipeline.

Joe Camardo

Thank you, Ameet.

rate in These materially we in Zynlonta from any XX%. refractory overall me the and Congress Zynlonta not presented did of showing study rate Let give response with of patients the and response with in combination trials. confidence DLBCL. an start relapsed safety observe feasibility, our in lead-in XX% efficacy the complete safety us Phase observed in potentially Zynlonta evaluating of prior different with combination safety data rituximab. LOTUS of those were data in X and rituximab Encouraging the Furthermore, the SoHo events September, V at or clinical

or opportunity we cost. in evolves, As to the for access eligible who rituximab Zynlonta or able CAR-T CAR-T significant patients to who not are a plus or see patients due DLBCL not for location transplant landscape second-line are

the underserved standard population an for explored in patients rituximab the plus trial who DLDCL of This Zynlonta patients being of frail. ongoing first-line LOTUS combination not X many remains is the or of in In able first-line also who receive addition, cases. are are unfit to care

Zynlonta. novel relapsed/refractory bispecific also explore combinations B-cell We antibody recently evaluate patients to X trial We Zynlonta non-Hodgkin's for novel IGM IGM's in agreement clinical of Biosciences combination signed a with with collaboration with ongoing the have lymphoma. LOTUS to

on updated the of we focused keeping the and Our you our to clinical execution is look on progress. team Zynlonta forward trials, successful

Moving on lymphoma. to in Cami Hodgkin

the us that September, FDA to to our C accelerated regulatory had Following approval. At a previously we clear Type regard the anticipated in in with October. late to meeting, that had pre-BLA and more we process meeting evolving with seek it meeting became timing dramatically is than landscape the

accelerated confirmatory Cami that Cami late-line underway given years means believe approval for the Phase it we randomized submit has patients, confirmatory time next an take and to fully enroll randomized a benefit fully Phase will in that X at This least data for we now them the our well Although two for Cami. BLA path, consider any profile as show we that positive be submission BLA study not enrolled estimate a has at must to X FDA of strong would the year risk and study. a ideally guidance

guidance Hodgkin potential pausing regulatory investments FDA with in their At material We program. ongoing lymphoma we are dialogue engaged the time, and regarding the path and any constructive in forward. an are this

resource and with will evaluating strategic options allocation. for a approach We be to Cami disciplined

to cells. Cami observed immunomodulatory study evidence ratio of impact regulatory tumors, of solid we and Regarding the on combination key desired of T the pembrolizumab effector activity and the in

However, not to the move for clinical data us forward. compelling enough were

explore not immune to would partnerships. this needed by enhance intratumor targeting to it resources that our we decided own, fully Given potential better to explore to specific unique the be rather remind signal, this the pursue a activation on employed but cells. you T I like opportunity study would to approach

the programs We other effect forward, solid tumor programs have a PBD for direct moving cells. prioritized cancer our the will on have which

solid CAG-X. rest the are for portfolio, trial TXXX tumor X ADC of Phase targeting with of we the As the progressing

in an expressed tumors, is and remember, As safety ovarian well indication variety and we CAG-X activity prostate platinum-resistant as in expect to of a of escalation signals Dose is you cancer. proceeding, of and tolerability including early XXXX. as cancer may the antitumor any solid have

AXL the Phase ADCT-XXX, is Moving Xb trial to on targeting ongoing.

study patients sarcoma. amplification patients combination with arm a with As arm, including in monotherapy with a has reminder, and actual gene the a gemcitabine

an in well optimal as determine cohort. to could used the is dose dose single which goal agent, combination Our of a as expansion as either be the

opportunity on are this axle the We of to identify appropriate tumor surface cells expression detect the also to using assay to patients. order optimize in

the as like study clinic would CDXX ADC-TXXX acute an preclinical relapsed to has validated MD next we targeting target Lastly, are ADCT-XXX ADC programs. will work activity neuroendocrine We a abstract in initial share X/X that IND-enabling collaboration patients or for targeting Anderson. of Phase with second-generation from from two metastatic cancer. evaluated been also solid I completing Institute. refractory to the and both enter optimized leukemia be Cancer PSMA, released with with plan lymphoblastic these targets PLKX clinical malignancies prostate programs National year. our for of in ADCT-XXX, ASH PBD-based in is tumor showing the data

be disclosed at an will details oral Additional in ASH. presentation

work to to that, update. the optimize I Jen? We for and will with over With Anderson a call schedule ADCT-XXX. turn Jen continue dose give financial to the to MD

Jenn Creel

you, good Joe, and morning, everyone. Thank

$XX as upfront and XX, business million and As and expected in QX. $XXX XXXX. upon milestone $XXX million of cash cash EU milestones a Sobi milestone Sobi received September agreement equivalents payment European sale. have on Partners Zynlonta first expect cash of million million from We from our into of Partners, the XX, Based runway from approval agreements and include DLBCL compared due Royalty our million the extends that as Healthcare in for Healthcare Royalty regulatory $XX $XX third-line we of near-term milestone continue June those to we Sobi early Potential to a of plan commercial from XXXX. a payments from

XXXX. the we to in obligations strategic quarter, XXXX and May Rock refinance that the to of due notes Owl into the term our convertible push During Oaktree and entered transaction with were debt out Deerfield a

equity addition as debt, were In existing by we an also to refinancing convertible convertible the notes. accepted investment Blue part with the the Owl. exchange Deerfield of of equity pleased

license and million $XX.X of Turning were sales the the XXXX to the third quarter. quarter was $XX net third revenue P&L. for for Zynlonta's million

due same gross by the product to expect to as the quarter the the third as and compared to and million our due third Despite at net, of $XX Net quarter growth of we two million to the quarter points. Cost recent for the quarter expenses over compared drive forward, primarily the contracting not commercial in impact, the net this community investments increased the for increase ongoing three versus Looking for our see volume that to XXXX. did million The in same with XXXX starting expense. for share-based Selling expenses were not in Please percentage opportunity to to million an to $XX same charges impairment quarter quarter quarter for efforts. not XXXX. $X.X were GPO compared G&A the compensation was same impact the related transition CEO $X.X we contracts specification pipeline. expense for to million in approximately QX for million $XX quarter G&A for sales was continued XXXX. are to was a and quarter compensation the quarter for offset was important compared GPO time. related increased relatively for negatively intermediates were primarily XXXX the million XXXX connection expenses million R&D in $XX issues specifications. costs to manufactured that to quarter to the in impact product loss note the $XX the stable our XXXX. Zynlonta the commercial to Lower million increase ability expenses expenses for compared to did share-based quarter loss XXXX. by third same meet our and marketing expected supply launch for expense $XX an higher $XX company's products. the R&D third in XXXX,

was compared measure same items as to ended net in and release net net share XXXX. for that was XX, a The per net was for $X.XX diluted certain an $X.XX income expenses. the revenue, share earlier to net share per loss quarter $X.XX in share of quarter same quarter loss Our per the due September net described as was in XXXX, Adjusted to adjusted XXXX. million third the third issued for of quarter quarter the income, same $X.XX loss adjusted in the quarter net the per to $XX period excludes increase the same compared the loss loss a an and $XX today the the license third quarter XXXX. offset compared of in in compared in press primarily adjusted million Adjusted loss XXXX for to operating product by higher partially decrease net

derivatives, by I from to XXXX In extinguishment obligations With the charges decreased our partially interest fair Deerfield the loss arising call of credit lower addition, in loss offset higher and net the for third result expense. warrant the facility for and of that, remarks. will value the turn Ameet? of Ameet back quarter closing as on of changes a

Ameet Mallik

Joe To are you, pleased going with and progress executing focused and on third we the our remain Jen. in Thank quarter, the key on we forward. objectives conclude,

discovery We a in over leader space are decade of to experience. with well-positioned the unique from capabilities commercialization and a ADC

with an ongoing and platform payloads. of novel on next-generation innovative Zynlonta, updated technology look a hematological We with and validated tumor develop antibody you have forward assets programs progress. solid keeping constructs and a to pipeline our We to rich toolbox

be Now Operator? for available will questions. the team

Operator

from Gregory [Operator with Instructions] RBC. comes Our Renza first question

open. Your line is

Gregory Renza

our on This questions. you for Greg. for is Thank taking Sudan Yes.

Then that that secondly, to confirmatory on that and is and more X% I gross to wanted C how as the to into we Type that board decision looking could you're Cami get dictate table at the that years? earlier-stage may how three X%, on looked details impacts the at specifically more filing potentially have you next to well? some Is start XXXX. how XXXX net that make Then next at or that get then forward business that just at the to positive have to looking mentioning Jen, ask the on side to transpired you, to expecting the to get development development I ask we're bring. the a community still year something how things, and also on pipeline going insight based is outreach in the going Zynlonta, early-stage for enrollment? you're in meeting with with that how two for year. this me, the extended have of to potentially that's wanted the guys into impact for that's for wanted Is wanted first, of Thanks. So the the that mostly how to meeting a on Joe, the question also Just this developments pipeline building just just on

Jenn Creel

out the this I'll question. is with gross the Jen. to Greg, Thanks for start Hi question. net

year-to-date really So that range net XXXX, for drug, we've a for for deductions expect in in population. late-line gross the the been to an infusion we'd general drug,

three in As starting net QX, October the gross effective to in that's really remarks, will going are prepared to be from the We think onwards. GPO modestly the X, impact points, do we that, QX I and about starting so two contracting. that to mentioned

in see forward XXXX. us you would really to this expect community. incremental the So help in drive that's volume to something going as also We that going

to it now. positive net for a So the pass I'll Joe company. over

Joe Camardo

your question Joe is Cami. answer I'll Camardo. about This

a based approval on with good we've we Phase for and working X were several the studies. confirmatory years, Over times, FDA with data accelerated follow-on plan interacted a on

XX% in stem XX% of an Hodgkin's We Cami reminder, after rate a complete very response late-line had of response rate treatment. in patients lymphoma patients. Half overall a have cell relapsed of is pembroizumab. them who failed brentuximab, and As had active

important well patients the to it of became to At to in happened accelerated approval. to approach population FDA So clear that we changed last What different kind that would ideally changed. we BLA a the to than forward, for very years. we fully trial the portfolio. in etcetera, specifically recent October, opportunity in significantly, the year time, an in Phase trial submission, is the here. for requirements assess feasibility, a have a and on at order last evaluate our environment the and meeting have patients, have move several At most time in the the the moment, told the be has what investment is regard had us very need with our been which trial to the working of the cost our the regulatory of had the what that a an confirmatory enrolled to X that requirements, underway plan relative we're the paused going we of as rest the endpoints, investments

a consider change the change a to So move we how us forward. in requirements led would in has

Ameet Mallik

Yes, pretty a do we and rich pipeline. pipeline, really Jen have Thanks, Yes. with our regards to Joe.

We have the XXX, which XXX into and And will year. Phase have and trials. then XXX XXX, which clinic are currently next XXX X in we move

next Phase we'll So X have different by year, five programs.

platform in pretty including terms our a but also where our investments addition, number doing of PBD a research novel both platform, of platform. in payloads beyond drugs, we've antibody terms expand constructs, novel robust of to been In

we infinite have So and prioritize we're decide what to we decide collaborate. we to our given we how own always resources, perform going that to where explore don't

sort rich but and of be have strategy a such So I research that a a differentiated we out, we're will that increasingly to lucky part platform. pipeline such think that our

Gregory Renza

the Congrats again. Thanks. quarter on

Operator

question. One moment before next our

JPMorgan. question comes next from Brian with Cheng Our

Brian Cheng

question. Hi my guys. taking Thanks for

Thank better you're the of who you in an networks. terms a is us contracting give of on how would you. when edge one over on drug? Can access stand run Then sense POV? rate with competitors? on you lastly, offering contracting ease So the where give community Can expenses. of you different now you given a get of your give to those on better this more network Is a to those contracting of us sense the want Cami potentially

Ameet Mallik

Yes. Brian. Thanks,

the is regards with be do we at first, a We networks, it with of parity. at advance contracting that think mean were warrant, which other I in community to So and us the least in that there already to network. community are us was even in before tap to competitors community place think important contracting the the that we given. for potentially able overall terms we've puts

cover Just country. community to you sense, of GPOs the half the biggest a total accounts give the in four roughly

So big community the of a overall part opportunity. it's

you any contract volume-based variable GPOs the As opportunity, community open a do with that component a component. up fixed with to there's and

it's more we've be a initiatives. in just would least So believe access a drive to end that's to way, because to In in with thing. those even higher the up contracting range X% We good the that accounts, able X%. the get of of accounts opens volume which at driven a lot higher to opportunity we and of community the patients educational those range,

early to us cash in point, at confirming confirming. for into important regards way XXXX. it's momentum expenses, our think even to Cami, positive lot of we beyond on DLBCL a We've pipeline flow the With but still space. still had the remain our very currently this we're in So we're competitive

Brian Cheng

up. Great. Maybe follow to one just question

the the a sense types requirement somewhat you is give path more how now of oncology. just to in broader the of is now So us to think across? in related accelerated get the FDA is Or on the level need thinking maybe unmet do all approval Can the more agency cancer approval? requirement a it to in Hodgkin about general better Is because the changed space? now applicable that you

Joe Camardo

by that's can't Oncology I articles been Head speculate to for There The by pathway. written approval commissioner. of that accelerated drug of rather have the been later sooner Division be the Joe. can approval physicians only need. the than still refer public I to by the holds about opportunity statements the public is mean, the don't I have to patients because I FDA this changes, medical available. of access Hello accelerated those think there about Brian, an is are really really supposed comments have changed. to that

what's changed think studies. what I the having in they're FDA stated, interested has that is confirmatory

what made publicly. As time that the also the at us, dossier. told they I they somewhat us they statement told more review and they've progressed think That's

Brian Cheng

Thanks Joe.

Joe Camardo

welcome. You're

Operator

before next One The our Peaker from next question Cowen. comes moment question. Boris with

Your line open. is

Boris Peaker

Great, a couple of questions for me.

First, changes talk Zynlonta. have about during the Can may quarter maybe any on in you that impacted the inventory results?

Ameet Mallik

not any We're Yes. of changes. inventory aware

this So demand-driven is we growth. believe

Boris Peaker

you some what Got kind on Zynlonta market penetrated it. And Like do have of you've an internal label? your far? estimate of so target based fraction

Ameet Mallik

It's imagine, you on data gaining hard small tell because, directionally, mean gaining can as precise. aren't disease with sources like to estimate can We're we're every obviously we the just share. a metric. I this

have continue amount big one potential is particularly issues good has improving. share really there's a voice We the the our community are improved. which of to earlier had, in competitive of believe of and the overall awareness, grow. year, to launch still we in We metrics The

Boris Peaker

Got it.

do filing frontline Zynlonta? Lastly, compology BLA so relapsed/refractory POLARIX in if so I'm see the the other all so that genetic how is DLBCL? drugs curious, trial, on DLBCL, guess, and impacting I approved, you in analyses based

Ameet Mallik

opportunity, I think it's frankly. Yes, an

getting more line plus like are DLBCL even actually less as overall. third a moving in all I the for setting competitive, CAR-Ts earlier I is mean us I the opens in competitive think if of up lines, think even way getting space think the third-line is setting. I actually these, more cost just it

of cycle the Physicians in a see therapy. same through rarely we it as multiple So positive. therapy lines

line. So patient same moves if it's that, subsequent frontline, polatuzumab unlikely polatuzumab's will get that

very too. we great think it's medicine Obviously, risk have profile Zynlonta. So monotherapy a for a opportunity good a with we

combination. it with but rituximab line current we're studying we a the our agents. novel in also opportunity I of think beyond with second see see in setting, indication, and front I also number

You announced at IGM seen Lonca a their bispecifics. also, with to collaboration clinical with may we have look

potential we earlier in Lonca as lot So indication, but current in think lines. our of for combination a a in monotherapy there's also

Boris Peaker

for questions. Great. taking my Thanks

Ameet Mallik

you. Thank

Operator

question. next our before moment One

Jefferies. Shi Kelly Our next question with comes from

open. line Your is

Kelly Shi

Hi. And Also Thank what they going per my question addition think any for forward? do example, how a have My launch about Lastly, you question. the patient trajectory is growth change for key launch? how for are do taking noticeable Thanks. since follow month? new first the you you one, like evolved in QX? metrics

Ameet Mallik

Thank you, Yes. Kelly. Yes.

the numbers size the the again, disclose would say are I is directional. we So because of launch just get the data reason and metrics, more we don't sample

good for they're trends. So

you of since mentioned, different and unaided. a is look the both look we aided As One awareness our thing products, number at we launch, things. of at

While beginning of That's awareness levels below in we far got was the to this improved, and at of relatively aided awareness launch, early really unaided really competitors year. in particularly QX high physicians, QX, we've competitive look of reaching we've voice. we terms at, awareness. voice in and our competitive seen we improvement maintained unaided Also of in how share just are a of share

directional, course, patient steadily. account The share, share increasing at line is level performance. which but we're The other we last our is again of look we look at, thing third is thing

you every and we losing. is look where we're we're to So grow. country how What track account gaining, at I tell in we're doing, the where continue we can

a growth stable community a the community accounts. roughly accounts. number of fairly We with of ordering We The growth but segment in dramatic. number have continue steady academic the this saw more large was strong overall, in ordering to in quarter in increase and very the

And be of accounts, XX% of So volume accounts order our to used in translates to before, whereas for the our that the of XX% from about now, XX% community. XX% community. the community have is, I'm only in what right sorry, the accounts roughly we into our used

Now volume. XX% total our it's about of

going it's segment penetrated years right ago. at given is awareness about that So it's now, we I uptake think a the X.X and and academic forward, very pretty the the in steady early segment almost dramatic growing in a still so shift given If clip. growing that launch, nice we're further drove academic

community but going was we're Whereas segment, segment, in to because started low that when in access more mature QX. think growth the really That's and the much started community we're J-code effects, into driven robust obviously up, open other QX. unaided a that little in bit opportunity we more QX also awareness So to into and steady growth. our got have launch. in the we starting opening up We've and

while we're the to continue QX we continue grow to to moderate going likely than While community it's in we to believe that the saw segment. be growth more in

Kelly Shi

also I helpful. a have Super follow-up.

So XXXX a now near reduction curious XXXX? Thanks. new given extended what R&D in you runway pipeline I'm in the term, cash into on of and mentioned SG&A progress. kind the cost

Ameet Mallik

would pretty think Yes. think say, have said, roughly we I I have I that rich costs, a we'll what pipeline. model. similar We that's I would as I mean,

projecting say, down, So the interesting, we have construction although payload. novel go year, well we're antibody in Cami that investments Really costs assets will of on as to area clinic. making into the we're would I research terms next five

we're R&D going base evolution have to honestly, progress we're and the think cost making roughly the that in given side. the a we So stable

Kelly Shi

Great thanks Ameet.

Ameet Mallik

Thank you.

Operator

One moment before our next question.

Harrison comes Morgan Matthew Our question from Stanley. with next

line open. is Your

Unidentified Analyst

Hi, this on Matthew. Chris is have I two questions. for

is on The ADCT-XXX. first question

on you. how the X the results this is Phase FDA published terms the is recently, much Phase question of viewing Did priority? asset the Given And second confirmatory enrollment in point Cami. abstract for Thank in X trial? its to are the how you necessary

Joe Camardo

that response Thank as This is rates in very intriguing. you. Yes, Joe. cited abstract the are

dose get a moving is plan we're took the could do it doing So in while forward. to Anderson, schedule what and optimize and be normally one looks a to that the to dose do situation, MD would the what like our with actually that's

we that's So where are now.

there expand data. and the to optimal. the and sure now in dose it and we're point that But be presentation I'll very make as interested population to where is just you this that in will more is Anderson, MD have We

are treated, a So but lot area. be ALL Adult important very there who relapse. of promising, still can patients very

tell looking we're of cost submission. development was With to Cami, to specific So be clear guidance. program. like of to That's reevaluation you underway regard at main the will data forward and enrolled the I your ideally for pretty the FDA there. well trial us. said and That's fully with continued X They very and we Phase the future that confirmatory our time would for the reason the opportunity time

Unidentified Analyst

you. Thank

Joe Camardo

welcome. You're

Operator

time. this closing call turn for over at showing not I'm the to I'd questions Instructions] remarks. back like [Operator to any any Ameet further

Ameet Mallik

and you to you all your on everyone. joining our so Have today, support. We nice progress. a you thank day, for updated our forward look for continued call Thank Yes. much keeping

Operator

Ladies today's and conclude gentlemen, presentation. this does

day. a wonderful disconnect, may and now You have

ADC Therapeutics (ADCT) 9 Nov 222022 Q3 Earnings call transcript