ADC Therapeutics Posts Wider Loss In Q4

(RTTNews) - ADC Therapeutics SA (ADCT), a late clinical stage oncology-focused biotechnology company, on Thursday reported fourth-quarter net loss of $56 million or $0.73 per share, wider than net loss of $35.3 million or $0.69 per share in the prior-year quarter.

The net loss included share-based compensation expense of $15.4 million during the quarter.

Adjusted net loss was $63 million or $0.82 per share, compared to adjusted net loss of $34.5 million or $0.68 per share in the same period last year.

On average, 3 analysts polled by Thomson Reuters expected the company to report net loss of $0.38 per share in the quarter. Analysts' estimates usually exclude one-time items.

The company's loss from operations widened to $78 million from $35.7 million in the comparable year quarter.

In Thursday's pre-market trading on NYSE, the stock is up 2.38% to $30.10.