ADC Therapeutics falls on CEO transition

Adc Therapeutics

09/05/2022 16:51

** Shares of biotech co  ADCT.N  fall ~25% to $8.23
    ** Co says co-founder Chris Martin has stepped down from his
role as chief executive officer  urn:newsml:reuters.com:*:nASM000AVD
    ** Ameet Mallik has been appointed as new CEO 
    ** Martin to serve on board and as chair of the Science and
Technology Committee    
    ** All seven brokerages covering the stock rate it "buy" or
higher; their median PT is $34.50 - Refinitiv data

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))