ADC Therapeutics Advancing on EC Approval Announcement and $50M Milestone Payment

(24/7 MARKET NEWS) – ADC Therapeutics SA (NYSE:ADCT) and Swedish Orphan Biovitrum AB announced, this morning, that the European Commission granted conditional marketing authorization for the use of ZYNLONTA® (loncastuximab tesirine) for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL), which follows a positive opinion issued in September by the Committee for Medicinal Products for Human Use of the European Medicines Agency and triggers a $50 million milestone payment to ADC Therapeutics.

ADC Therapeutics is trading higher in this morning’s premarket, at $3.61, 43 cents higher (+13.52%), on 4.2 million shares traded.

Its 52-week range is $2.75 to $22.52. Its next inflection points are $3.65 and $3.75. If it can break through the $3.75 level, on strong volume, it could challenge its November and October trading levels.

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