ADCT CEO Chris Martin stated: With more than 250 patients dosed, and encouraging data to be presented at the upcoming congress of the American Society of Hematology, this financing is a key step in our strategy and will enable us to accelerate our lead programs and to continue to develop our pipeline.
The investigation concerns whether the ADCT Board of Directors breached their fiduciary duties to ADCT stockholders by to conduct an open auction sales process to sell the Company before entering into this transaction, whether Tyco is underpaying for ADCT shares to the detriment of ADCT shareholders.
If you own common stock in ADCT and wish to obtain additional information, please visit us at http://www.
Jay Feingold, Chief Medical Officer and Senior Vice President of Clinical Development at
ADCT said: These clinical data provide additional support for the efficacy and tolerability of
ADCT-402, as well as of our ADC technology platform based on PBD-warheads.
ADCT anticipates its next two pipeline programs, both targeting solid tumour cancers, will commence clinical development later in 2016 and early in 2017, respectively.
Chris Martin, the CEO of ADCT, said: This financing acknowledges the progress ADCT has made with its pipeline of clinical and preclinical programs in areas of high unmet medical need.
ADCT was last seen up more than 10 percent on the news.
ADCT caters to local, long-distance, wireless telephone and cable TV providers.
In the quarter,
ADCT expects to earn 24 to 28 cents per share.
