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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Stocks to Buy As Gold Rallies and 13 Stocks to Buy According to Billionaire Ray Dalio’s Bridgewater Associates.

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