ADC Therapeutics SA

Good morning, ladies and gentlemen, and welcome to the ADC Therapeutics Q2 2026 earnings conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, August 13, 2026. I would now like to turn the conference over to Nicole Riley, Head of Investor Relations and Corporate Communications. Please go ahead.

Thank you, Operator. Today we issued a press release announcing our second quarter 2026 financial results and business updates. This release and the slides we will use in today's presentation are available on the investor section of the ADC Therapeutics website. I'm joined on today's call by our Chief Executive Officer, Ameet Mallik, who will discuss our operational performance and recent business highlights, followed by our Chief Medical Officer, Mohamed Zaki, who will provide clinical and regulatory updates, and lastly, our Chief Financial Officer, Pepe Carmona, who will review our second quarter 2026 financial results. We will then open the call to questions. Before we begin, I would like to remind listeners that some of the statements made during this conference call will contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties, and actual results, performance, and achievements could differ materially. They are identified and described in the accompanying slide presentation and in the company's filings with the SEC, including Form 10-K, 10-Q, and 8-K. ADC Therapeutics is providing this information as of today's date and does not undertake any obligation to update any forward-looking statements contained in this conference call as a result of new information, future events, or circumstances, except as required by law. The company cautions investors not to place undue reliance on these forward-looking statements. Today's presentation also includes non-GAAP financial reporting. These non-GAAP measures should be considered in addition to and not in isolation or as a substitute for the information prepared in accordance with GAAP. You should refer to the company's second quarter 2026 earnings release for information and reconciliation of historical non-GAAP measures to the comparable GAAP financial measures. I will now turn the call over to our CEO, Ameet Mallik. Ameet?

Thank you, Nicole. We are pleased to share that Zinlanza's commercial performance in the second quarter of 2026 continue to be broadly in line with recent quarters. We remain confident in the roles Zinlanta will continue to play as a differentiated single-agent treatment option for third-line plus DLBCL patients. Turning to our pipeline progress, as previously disclosed, we announced top-line results for LOTUS 5 in June. Based on this data, we held a pre-SVLA meeting with the FDA, and following the meeting, we are assessing the best regulatory path forward. Mohamed will share more details regarding the FDA feedback and our regulatory strategy. Further to this, the full LOTUS V data have now been submitted for presentation at ASH and we are preparing to submit for publication with compendia submission to follow. For LOTUS VII, we were pleased to complete enrollment of 100 patients at the selected dose level of Xenlanta plus clofidimab as shared in June and have submitted an abstract to ASH for presentation of the data, which we continue to believe demonstrates the most compelling combination data generated to date in Second Line Plus DLBCL, with a safety profile generally consistent with prior Lotus 7 disclosures. With these data, we believe that Zynlanta Plus Clofitimab offers an opportunity to take a leading Second Line position in the context of the evolving competitive landscape solidifying Xenlanta as a foundational therapy in DLBCL. Beyond this, we are preparing to submit for publication of the LOTUS-7 data with compendia submission to follow. Simultaneously, we are exploring the potential regulatory pathway for this combination and expect to submit for breakthrough designation this year. With respect to the multicenter investigator-initiated trials of Xenlanta in indolent lymphomas, updated marginals on lymphoma data was submitted to ASH with publication and compendia submission to follow. Presentation of updated follicular lymphoma data is anticipated in the second quarter of 2027 with publication and compendia submission to follow. We also intend to assess potential regulatory pathways for these endolymphomas and expect to submit for a breakthrough designation for . Moving now to corporate updates. We announced a strategic reorganization in June. As part of this, we implemented a reduction in our workforce of approximately 17%, as well as additional operational efficiencies, resulting in cost savings of approximately $10 million on an annualized basis. As shared at that time, with these changes, we are resourced to deliver on our key clinical, regulatory, and manufacturing activities while maintaining the full externally facing footprint to support the continued commercialization of Zynlanta in the Third Line Plus DLVCL setting. Finally, we ended the second quarter of 2026 with a healthy cash balance of $219.1 million, maintaining our expected cash runway at least into 2028 and enabling us to deliver against our strategy. Now we'd like to take a moment to remind everyone of our strategy to grow Zynlanta. Currently, Zenlanta plays a clear role in the Third Line Plus DLBCL setting. As monotherapy, Zenlanta has a well-established profile of rapid, deep, and durable efficacy, as well as manageable safety with simple and convenient administration. Since FDA accelerated approval in 2021, Zenlanta monotherapy has been used in treating approximately 5,000 patients in the US. We believe this is just a starting point as we see the potential for Zenlanta to reach significantly more patients by expanding use into earlier Lantus therapy in DLBCL and into indolent lymphomas. Now I would like to turn the call over to Mohamed, our CMO, to share more on our pipeline.