One IPO attempt pulled, a drug on partial hold and a pandemic, but ADC tries again

One of the more surprising elements of the pandemic is how well biotech IPOs have managed, and now Swiss startup ADC Therapeutics is hoping for a second-time lucky attempt despite COVID-19.

The cancer drug biotech isn’t just gunning for a $100 million IPO for the sake of it, however: It needs that capital for its pivotal phase 2 test for loncastuximab tesirine, or “Lonca,” which targets CD19, a protein on the surface of tumor cells, in patients with relapsed diffuse large B-cell lymphoma.