ADC Therapeutics SA (NYSE:ADCT) Q4 2022 Earnings Call Transcript

Operator: Our next question comes from Matthew Harrison with Morgan Stanley. Please go ahead. Our next question comes from Naureen Quibria with Capital One Securities. Please go ahead.

Naureen Quibria: Congrats on the progress. Thanks for taking my question. So first one, I guess it’s very basic. Are you able to comment on ZYNLONTA’s market share now in the third line, third line plus DLBCL? And what fraction have you penetrated to date? And how do you see that penetration with respect to, obviously, Polivy moving to the front line?

Ameet Mallik: Yes. I can just say we still believe that there’s a lot of potential, but I’m going to let Kristen comment further on some of the details.

Kristen Harrington-Smith: Sure. So, I’ve worked in the DLBCL space for years now, and there really is no good source of data for market share, especially in the later lines. It’s just a very dynamic and fragmented space. However, when we look at our research and we use brand impact data. What we’re seeing is that we’re leading a new patient share in the third-line setting, and we are really encouraged by this and confident in our potential to continue to further penetrate the third line space and become the standard of care here. When you also look at market penetration, one of the things that I shared upfront, was that where we see our greatest opportunity is in the community setting, where only 35% of community sites have tried in Manta. The good news is we know that when they try it, they continue to repeat orders. So that is our greatest opportunity to continue to grow that share in the third-line setting.

Naureen Quibria: Okay. Great. That’s helpful. So, two more. I guess the next 1 is probably for Pepe. Are you able to provide a bit more color on the Sobi launch, like which countries might be targeted first? And if you might be able to give any guidance for that trajectory?

Pepe Carmona: We haven’t provided net for guidance there, but what we can tell you is that because it’s with a single agent and with a single arm, it’s — the market access process is going to take longer to have approvals throughout Europe. So, it’s going to be a gradual growth. I’m going to see if Ameet want to add something.

Ameet Mallik: Yes. No, as you know, Naureen, I mean, market access is country by country in Europe, and it could take up to 12 months. And as Pepe said, given that it’s approved with a single-arm study, it’s going to result in very favorable reimbursement in some countries and more challenging reimbursement in other countries. So, I see the launch in Europe as kind of Phase I with this current study. LOTIS-5, when we have a comparative study will open up the full opportunity in Europe. But if you think more longer term about the European opportunity, I think the volume potential in Europe may be even greater than it is in the U.S. because CAR-T penetration is much less.

Naureen Quibria: Okay. That’s very helpful. And if I could just squeeze one more in for Mohamed. With respect to the CAG-1 — 901, can you talk a bit more about the amendment to the protocol and the different dosing schedules? What’s the rationale behind the decision? And given that sort of shift, how many patients should we expect with — in the upcoming update that will come up? With the dose levels.