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Interest in joint venture | 9 Months Ended
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Sep. 30, 2023
Interests In Other Entities [Abstract] |
Interest in joint venture | The Company is invested in a joint venture company, Overland ADCT BioPharma, with Overland Pharmaceuticals (“Overland”), to develop and commercialize one of the Company’s ADC products, ZYNLONTA, and three of the Company’s ADC product candidates, ADCT-601, ADCT-602 and ADCT-901, in greater China and Singapore. The table below provides a rollforward of the Company’s interest in Overland ADCT BioPharma as of September 30, 2023 and 2022, respectively.
(in KUSD) |  |
Interest in joint venture |  |
January 1, 2023 |  | 31,152 |
Share of comprehensive loss in joint venture |  | (4,163) |
September 30, 2023 |  | 26,989 |
January 1, 2022 |  | 41,236 |
Share of comprehensive loss in joint venture |  | (6,549) |
September 30, 2022 |  | 34,687 |
As of September 30, 2023, the deferred gain of USD 23.5 million arising from the Company’s contribution for its equity investment in the joint venture remained unchanged from December 31, 2022. The Company’s carrying value of its investment in a joint venture increases or decreases in relation to the Company’s proportionate share of comprehensive income or loss of the joint venture. When the Company’s share of losses of a joint venture exceeds the Company’s interest in that joint venture less the carrying value of the deferred gain described above, the Company ceases to recognize its share of further losses. Additional losses are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the joint venture. The tables below provide summarized financial information for Overland ADCT BioPharma that is material to the Company. The following information reflects the amounts presented in the financial statements of Overland ADCT BioPharma and not the Company’s share of those amounts.
(in KUSD) |  | As of |  |  |  |
Summarized Balance Sheet |  | September 30, 2023 |  | December 31, 2022 |  |  |  |
Cash and cash equivalents |  | 9,238 |  |  | 19,261 |  |  |  |  |
Prepaid and other current assets |  | 364 |  |  | 2 |  |  |  |  |
Intangible assets |  | 49,249 |  |  | 49,249 |  |  |  |  |
Total liabilities |  | (3,553) |  |  | (3,062) |  |  |  |  |
Net assets |  | 55,298 |  |  | 65,450 |  |  |  |  |
Summarized Statement of Comprehensive Loss |  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Loss from operations |  | 2,750 |  |  | 4,950 |  |  | 8,278 |  |  | 14,317 |
Other expense (income) |  | 126 |  |  | (604) |  |  | (1,057) |  |  | (1,308) |
Other comprehensive loss (income) |  | (157) |  |  | — |  |  | 1,274 |  |  | — |
Total comprehensive loss |  | 2,719 |  |  | 4,346 |  |  | 8,495 |  |  | 13,009 |

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- Definition The disclosure of joint ventures. [Refer: Joint ventures [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b&doctype=Standard -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b&doctype=Standard -URIDate 2023-03-23 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B4 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B4_b&doctype=Appendix&subtype=B -URIDate 2023-03-23 + Details
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