ADC Therapeutics Announces Comprehensive Strategic Financial Restructuring Marking Key Capital Structure Improvements
ADC Therapeutics announced a financial restructuring that includes a $86.6 million private placement, an amended HealthCare Royalty agreement removing a change-of-control payment, and refinancing its senior secured loan with principal reduced to $50 million. The company said the measures are expected to extend its cash runway into 2029.
Why it matters — The financing and debt changes affect ADCT’s capital structure, liquidity terms, and expected cash runway.