2023-05-09 07:10:32 ET
- ADC Therapeutics press release ( NYSE: ADCT ): Q1 Non-GAAP EPS of -$0.53.
- Revenue of $18.99M (-59.2% Y/Y) misses by $1.1M .
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The Company reaffirms the following guidance based on its current business plan:
- ZYNLONTA FY 2023 net product sales expected to grow by a double-digit percentage year-over-year. This includes a gross-to-net increase as compared to 2022 of:
- Approximately 2 to 3 percentage points related to Group Purchasing Organization (GPO) contracting
- Mid to high single-digit percentage points resulting from the Infrastructure Investment and Jobs Act’s requirement for manufacturers of certain single-source drugs separately paid for under Medicare Part B and marketed in single-dose containers to provide annual refunds for discarded drug, effective January 1, 2023
- Continued decrease in total operating expenses expected in 2023 and 2024 as compared to 2022 as a result of the implementation of the new corporate strategy
- Expected cash runway extended into the middle of 2025
- ZYNLONTA FY 2023 net product sales expected to grow by a double-digit percentage year-over-year. This includes a gross-to-net increase as compared to 2022 of:
For further details see:
ADC Therapeutics Non-GAAP EPS of -$0.53, revenue of $18.99M misses by $1.1M