As Zynlonta sales disappoint, ADC Therapeutics cuts staff and preclinical programs
ADC Therapeutics announced Tuesday morning that it was laying off more than 50 staffers and stopping work on two preclinical cancer programs.
ADC plans to lay off 17% of its workforce — or approximately 54 of its 317 employees, as of the end of 2022. The biotech noted it’s including contractors in its layoff count.
The Swiss biotech is also stopping investment in ADCT-212, a preclinical antibody-drug conjugate for prostate cancer, and ADCT-701, which it had hoped to test in neuroendocrine tumors.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.