ADC renews IPO bid as first regulatory filing looms

Less than four months after new pivotal data strengthened its case for a BLA submission this year, ADC has again filed a prospectus for an IPO -- although it may be a more modest one than the offering it withdrew in the fall.

According to an SEC filing Friday, ADC Therapeutics S.A. will seek to raise up to $100 million via a listing on the New York Stock Exchange. The Swiss company’s original filing in September proposed to raise up to $150 million; an updated prospectus issued later that month said it hoped to sell 8.2 million shares at $23-$26, which would have raised about $200 million at the midpoint...