ADC Therapeutics (ADCT) Secures PIPE Financing, Price Target Adjusted

ADC Therapeutics S.A. (NYSE:ADCT) is one of billionaire Steve Cohen’s small-cap stock picks with huge upside potential. On October 16, H.C. Wainwright reaffirmed its Buy rating on ADC Therapeutics (NYSE:ADCT) but lowered the price target from $8 to $7.

The revision follows the company’s announcement of a $60 million PIPE financing deal, which includes the sale of 11.3 million common shares at $4.00 each and pre-funded warrants for 3.8 million shares at $3.90 apiece. Net proceeds are expected to total approximately $57.6 million after fees and expenses.

The financing strengthens ADC Therapeutics’ balance sheet, boosting its pro forma cash position to an estimated $292.3 million. The company also anticipates reporting $15.8 million in net product revenue from ZYNLONTA sales for Q3 2025, with $234.7 million in cash and equivalents as of September 30.

ADC Therapeutics S.A. (NYSE:ADCT) is a Switzerland-based biotech firm specializing in the development of Antibody Drug Conjugates (ADCs) designed for cancer therapy. The company leverages its proprietary pyrrolobenzodiazepine (PBD) technology to link powerful chemotherapy agents to antibodies that precisely target malignant cells, aiming to enhance treatment efficacy while minimizing damage to healthy tissue.

While we acknowledge the potential of ADCT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADCT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.