ADC Therapeutics SA reported its financial results for the first quarter ended March 31, 2025. The company recorded a net loss of $38.6 million, or $0.36 per basic and diluted share, reflecting an improvement compared to the net loss of $46.6 million, or $0.56 per basic and diluted share, during the same period in 2024. This reduction in net loss is mainly attributed to increased license revenues and royalties, along with reduced other expenses. The adjusted net loss, defined as a non-GAAP financial measure, was $24.0 million, or $0.22 per basic and diluted share for the quarter, improving from $31.1 million, or $0.38 per basic and diluted share, in the first quarter of 2024. This positive shift is primarily due to higher license revenues and royalties and decreased operating expenses, adjusted for share-based compensation. In terms of cash position, the company had cash and cash equivalents totaling $194.7 million as of March 31, 2025, down from $250.9 million at the end of 2024. This decrease was primarily influenced by the timing of payments related to the annual discarded drug rebate, annual bonuses, and lower cash collections and partner reimbursements. ADC Therapeutics anticipates that its cash runway will extend into the second half of 2026. Additionally, the company highlighted its operational progress, particularly with the LOTIS-7 trial, where ZYNLONTA® plus glofitamab demonstrated an overall response rate $(ORR.AU)$ of 95.5% and a complete response $(CR)$ of 90.9%, coupled with encouraging safety and tolerability. The company reached a milestone of forty patient enrollments in the LOTIS-7 trial dose expansion arm for patients with relapsed/refractory diffuse large B-cell lymphoma (DLBCL).