ADC Therapeutics Q1 Net Loss Widens

(RTTNews) - ADC Therapeutics SA (ADCT) reported net loss of 51.5 million KUSD (Kowala), or $0.67 per share in the first quarter compared with net loss of 43.5 million KUSD or $0.85 per share, for the same quarter a year ago.

Net loss in the quarter included share-based compensation expense of $14 million.

Excluding items, adjusted loss was 56.76 million KUSD, or $0.74 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.90 loss per share. Analysts' estimates typically exclude special items.

The company incurred R&D expenses of $39.2 million in the quarter compared with $35.4 million in prior-year quarter.