diluted                        0.14              0.18                     0.45             0.60 
                    ----------------  ----------------  -----------------------  --------------- 
Adjusted net loss 
 per share, basic 
 and diluted        $         (0.28)  $         (0.39)            $      (0.90)  $        (1.30) 
                    ----------------  ----------------  -----------------------  --------------- 
Weighted average 
 shares 
 outstanding, 
 basic and 
 diluted                 104,824,877        82,256,847               94,394,355       81,516,563 
 
 
 
(i)    Share-based compensation expense represents the cost of equity awards 
       issued to our directors, management and employees. The fair value of 
       awards is computed at the time the award is granted and is recognized 
       over the requisite service period less actual forfeitures by a charge 
       to the statement of operations and a corresponding increase in 
       additional paid-in capital within equity. These accounting entries have 
       no cash impact. 
(ii)   Change in the fair value of the Deerfield warrant obligation results 
       from the valuation at the end of each accounting period. There are 
       several inputs to these valuations, but those most likely to result in 
       significant changes to the valuations are changes in the value of the 
       underlying instrument (i.e., changes in the price of our common shares) 
       and changes in expected volatility in that price. These accounting 
       entries have no cash impact. 
(iii)  Effective interest expense on senior secured term loans relates to the 
       increase in the value of our loans in accordance with the amortized 
       cost method. 
(iv)   Deferred royalty obligation interest expense relates to the accretion 
       expense on our deferred royalty obligation pursuant to the royalty 
       purchase agreement with HCR and cumulative catch-up adjustments related 
       to changes in the expected payments to HCR based on a periodic 
       assessment of our underlying revenue projections. 
 
 
CONTACTS: 
Investors                             Media: 
Marcy Graham                          Nicole Riley 
ADC Therapeutics                      ADC Therapeutics 
Marcy.Graham@adctherapeutics.com      Nicole.Riley@adctherapeutics.com 
+1 650-667-6450                       +1 862-926-9040 
 

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SOURCE ADC Therapeutics SA

(END) Dow Jones Newswires

November 07, 2024 07:30 ET (12:30 GMT)