Form 8-K

8-K — ADC Therapeutics SA

Accession: 0000950103-26-009416

Filed: 2026-06-24

Period: 2026-06-24

CIK: 0001771910

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Regulation FD Disclosure

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — dp248849_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (dp248849_ex9901.htm)

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8-K (Primary)

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0001771910

2026-06-24

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities

Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):

June 24, 2026

ADC Therapeutics SA

(Exact Name of Registrant as Specified in Its Charter)

Switzerland

(State or Other Jurisdiction of Incorporation)

001-39071

(Commission File Number)

N/A

(IRS Employer Identification Number)

Biopôle

Route de la Corniche 3B

1066 Epalinges

Switzerland

(Address of Principal Executive Offices) (Zip

Code)

+41 21 653 02 00

(Registrant’s Telephone Number)

N/A

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.

below):

☐ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under

the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common Shares, par value CHF 0.08 per share

ADCT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth

company as defined in Rule 405 of the Securities Act of 1933 (17 C.F.R. §230.405) or Rule 12b-2 of the Securities Exchange Act of

1934 (17 C.F.R. §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant

has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant

to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

In connection with the events described under Item 8.01 below, ADC

Therapeutics SA (the “Company”) issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report

on Form 8-K and incorporated by reference herein.

The information contained in this Item 7.01 and the associated exhibits

shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange

Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under

the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01. Other Events.

On June 24, 2026, the Company announced a plan to reduce the Company’s

workforce globally by approximately 17 percent. The reduction is driven by the expected completion of the LOTIS-5 and LOTIS-7 trials this

year, as well as operational efficiencies. The Company expects the reduction to generate annualized estimated cost savings of approximately

$10 million. The Company estimates that it will incur one-time pre-tax charges of approximately $3 million for employee severance, benefits

and related termination costs, the majority of which will be recognized in the second quarter of 2026.

The estimated charges that the Company expects to incur, and the timing

thereof, as well as the estimated annual cost savings, are subject to a number of assumptions, and actual results may differ materially

from these estimates. The Company may also incur additional costs not currently contemplated due to events that may occur as a result

of, or that are associated with, the reduction.

This Current Report on Form 8-K contains forward-looking statements

within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify

forward-looking statements by terminology such as "may", "will", "should", "would", "expect",

"intend", "plan", "anticipate", "believe", "estimate", "predict", "potential",

"seem", "seek", "future", "continue", or "appear" or the negative of these terms or

similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject

to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such

differences include, but are not limited to: the cost and effects of the strategic restructuring and workforce reduction including our

ability to achieve the estimated cost savings; the adequacy of the LOTIS-5 clinical trial data to support full regulatory approval and

our ability to maintain accelerated approval in the United States and foreign jurisdictions for our product; the timing, content and outcome

of meetings with and feedback or other communications provided by regulatory authorities including U.S. FDA; the timing, submission and

acceptance of an sBLA submission related to LOTIS-5 and potential approval; the actual and perceived benefit-risk profile for ZYNLONTA

as studied in the LOTIS-5 trial; the assessment of the data from LOTIS-5 study, including additional analyses of outcomes observed for

safety, efficacy and within key geographic regions and across certain patient sub-populations; the path for full regulatory approval for

ZYNLONTA in the United States and foreign jurisdictions; our ability to identify and execute value-maximizing options and the cost and

impact of such options; our expected cash runway into at least 2028 assumes use of minimum liquidity amount required to be maintained

under its loan agreement covenants; our ability to comply with the terms of our indebtedness; changes in our regulatory and commercial

strategy; the Company's ability to sustain or grow ZYNLONTA® revenue in the United States and potential peak revenue; the

ability of our partners to commercialize ZYNLONTA® in foreign markets, the timing and amount of future revenue and payments

to us from such partnerships and their ability to obtain regulatory approval for ZYNLONTA® in foreign jurisdictions; the

timing, results and publication of the Company's clinical trials including LOTIS-7; the timing, publication and results of investigator-initiated

trials including those studying FL and MZL and the potential regulatory and/or compendia strategy and the future opportunity; the timing

and outcome of regulatory submissions for the Company's products or product candidates; actions by the FDA or foreign regulatory authorities;

projected revenue and expenses; the Company's indebtedness, including HealthCare Royalty Management and Blue Owl and Oaktree facilities,

and the restrictions imposed on the Company's activities by such indebtedness, the ability to comply with the terms of the various agreements

and repay such indebtedness and the significant cash required to service such indebtedness; and the Company's ability to obtain financial

and other resources for its research, development, clinical, and commercial activities; and the uncertainties of international trade policies,

including tariffs, sanctions, trade barriers and most favored nation drug pricing and the potential impact they may have on our business,

financial condition, and results of operations. Additional information concerning these and other factors that may cause actual results

to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of

the Company's Annual Report on Form 10-K and in the Company's other periodic and current reports and filings with the U.S. Securities

and Exchange Commission. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results,

performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed

in or implied by such forward-looking statements. The Company cautions investors not to place undue reliance on the forward-looking statements

contained in this document.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Description

99.1

Press release dated June 24, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,

the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ADC Therapeutics SA

Date: June 24, 2026

By:

/s/ Peter J. Graham

Name:

Peter J. Graham

Title:

Chief Legal Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: dp248849_ex9901.htm · Sequence: 2

Exhibit 99.1

ADC

Therapeutics Announces Strategic Reorganization to Support ZYNLONTA® Growth Opportunities and Regulatory Priorities

Planned 17% workforce

reduction expected to generate annualized estimated savings of approximately $10m, enhancing financial flexibility

Company focused on delivering

upcoming regulatory and clinical milestones, including planned LOTIS-5 sBLA submission and full LOTIS-7 data by end of 2026

LAUSANNE, Switzerland, June 24, 2026 –

ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today

announced a strategic reorganization to focus resources behind key value-driving initiatives in support of the ZYNLONTA®

(loncastuximab tesirine-lpyl) franchise.

As part of the reorganization, ADC Therapeutics

plans to reduce its workforce globally by approximately 17 percent. The reduction is driven by the expected completion of the LOTIS-5

and LOTIS-7 trials this year, as well as operational efficiencies. With these changes, the Company is resourced to deliver on its key

clinical, regulatory and manufacturing activities while maintaining the full externally facing medical affairs and commercial footprint

to support ZYNLONTA.

"As we further assess the Phase 3 LOTIS-5

trial outcomes, including feedback from key medical experts, we continue to believe in the favorable

overall benefit-risk profile and look forward to our pre-sBLA meeting with the U.S. Food and Drug Administration in August,"

said Ameet Mallik, Chief Executive Officer of ADC Therapeutics. "This strategic reorganization will enable us to increase our financial

flexibility as we prepare for upcoming LOTIS-5 regulatory milestones and continue building on the broader opportunity for ZYNLONTA through

LOTIS-7 and support for the indolent lymphoma investigator-Initiated trials. We are grateful to all of our employees for their efforts

to help make a meaningful impact for patients and thank them for their important contributions to our company."

The Company is preparing for a scheduled pre-sBLA

meeting with the FDA in August 2026 to discuss the potential regulatory path forward for ZYNLONTA in combination with rituximab to treat

relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL) following the recent topline data results from the Phase 3 LOTIS-5 trial.

ADC Therapeutics expects to submit an sBLA in the fourth quarter of 2026.

In addition, the Company continues to advance

the ZYNLONTA franchise through the ongoing Phase 1b LOTIS-7 trial evaluating ZYNLONTA in combination with glofitamab in 2L+ DLBCL, with

data anticipated by the end of 2026, as well as through support for Phase 2 IITs exploring ZYNLONTA across indolent lymphomas.

ADC Therapeutics expects the reorganization

to generate annualized estimated cost savings of approximately $10 million. ADC Therapeutics estimates that it will incur one-time pre-tax

charges of approximately $3 million for employee severance, benefits and related termination costs, the majority of which will be recognized

in the 2nd quarter of 2026. The Company has an expected cash runway at least into 2028.

About ZYNLONTA®

ZYNLONTA® is a CD19-directed

antibody drug conjugate (ADC). Once bound to a CD19-expressing cell, ZYNLONTA is internalized by the cell, where enzymes release a pyrrolobenzodiazepine

(PBD) payload. The potent payload binds to DNA minor groove with little distortion, remaining less visible to DNA repair mechanisms. This

ultimately results in cell cycle arrest and tumor cell death.

The U.S. Food and Drug Administration (FDA)

and the European Medicines Agency (EMA) have approved ZYNLONTA (loncastuximab tesirine-lpyl) for the treatment of adult patients with

relapsed or refractory (r/r) large B-cell lymphoma after two or more lines of systemic therapy, including diffuse large B-cell lymphoma

(DLBCL) not otherwise specified (NOS), DLBCL arising from low-grade lymphoma and also high-grade B-cell lymphoma. The trial included

a broad spectrum of heavily pre-treated patients (median three prior lines of therapy) with difficult-to-treat disease, including patients

who did not respond to first-line therapy, patients refractory to all prior lines of therapy, patients with double/triple hit genetics

and patients who had stem cell transplant and CAR-T therapy prior to their treatment with ZYNLONTA. This indication is approved by the

FDA under accelerated approval and in the European Union under conditional approval based on overall response rate and continued approval

for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial. Please see full

prescribing information including important safety information about ZYNLONTA at www.ZYNLONTA.com.

ZYNLONTA is also being evaluated as a therapeutic

option in combination studies in other B-cell malignancies and earlier lines of therapy.

About ADC Therapeutics

ADC Therapeutics (NYSE: ADCT) is a commercial-stage

global leader and pioneer in the field of antibody drug conjugates (ADCs), transforming treatment for patients through our focused portfolio

with ZYNLONTA® (loncastuximab tesirine-lpyl).

ADC Therapeutics' CD19-directed ADC ZYNLONTA

received accelerated approval by the FDA and conditional approval from the European Commission for the treatment of relapsed or refractory

diffuse large B-cell lymphoma after two or more lines of systemic therapy. ZYNLONTA is also in development in combination with other agents

and in earlier lines of therapy.

Headquartered in Lausanne (Biopôle),

Switzerland, with operations in New Jersey, ADC Therapeutics is focused on driving innovation in ADC development with specialized capabilities

from clinical to manufacturing and commercialization. Learn more at adctherapeutics.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking

statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you

can identify forward-looking statements by terminology such as "may", "will", "should", "would",

"expect", "intend", "plan", "anticipate", "believe", "estimate", "predict",

"potential", "seem", "seek", "future", "continue", or "appear" or the negative

of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements

are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may

cause such differences include, but are not limited to: the cost and effects of the strategic restructuring and workforce reduction including

our ability to achieve the estimated cost savings; the adequacy of the LOTIS-5 clinical trial data to support full regulatory approval

and our ability to maintain accelerated approval in the United States and foreign jurisdictions for our product; the timing, content and

outcome of meetings with and feedback or other communications provided by regulatory authorities including U.S. FDA; the timing, submission

and acceptance of an sBLA submission related to LOTIS-5 and potential approval; the actual and perceived benefit-risk profile for ZYNLONTA