2024-03-19 09:19:52 ET
Summary
- ADC Therapeutics has experienced a 200%+ recovery since being undervalued and trading below their cash on hand.
- The company's prospects are now uncertain as they face challenges in getting a foothold for their approved antibody-drug conjugate.
- The success of the phase 3 trial for loncastuximab will determine the company's near-term aspirations and market sentiment.
Topline Summary and Update
In my last update on ADC Therapeutics ( ADCT ), I reaffirmed an opinion that the company was significantly undervalued, as they had an approved product with growing sales, and yet they traded below their cash on hand. Falling into penny stock territory, ADCT has since experienced a resurgence, something like a 200%+ recovery since my buy recommendation, agreed upon by analyst Eugene Lindon . As we are well into the first half of 2024, now the prospects for the company are a lot murkier, as they've moved out of what I view as "obviously" undervalued, bringing into stark contrast the real challenges they've had in getting a foothold for their approved antibody-drug conjugate....
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ADC Therapeutics: Real Opportunity With Real Risk In 2024 (Rating Upgrade)