Affimed Announces Receipt of NASDAQ Deficiency Notice Regarding Minimum Bid Price Requirement
Rhea-AI Summary
Affimed N.V. (AFMD) has received a deficiency notice from Nasdaq dated April 15, 2025, due to its stock price closing below the minimum requirement of $1.00 per share for the last 30 consecutive business days. The company has been granted an initial 180-day period until October 13, 2025, to regain compliance with the minimum bid price requirement.
If compliance is not achieved during this period, Affimed may consider transferring from The Nasdaq Global Select Market to The Nasdaq Capital Market, which could provide an additional 180 days (until April 13, 2025) to meet requirements. This transfer would be subject to meeting other listing criteria. The notice does not immediately affect the listing or trading of Affimed's shares.
Positive
- 180-day grace period granted to regain compliance
- Possibility of additional 180-day extension if eligible for Nasdaq Capital Market transfer
- Company maintains Nasdaq listing status during compliance period
Negative
- Stock price has fallen below $1.00 for 30 consecutive business days
- Risk of potential delisting from Nasdaq if compliance is not achieved
- May need to transfer to Nasdaq Capital Market, typically considered a lower-tier exchange
News Market Reaction 1 Alert
On the day this news was published, AFMD declined 4.05%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MANNHEIM, Germany, April 21, 2025 (GLOBE NEWSWIRE) -- Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, announced today that it has received a written notice (the “Notice”), dated April 15, 2025, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty (30) consecutive business days, the bid price for the Company’s common shares had closed below the minimum
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until October 13, 2025, to regain compliance. If the Company fails to regain compliance with the Minimum Bid Price Rule during this period, the Company may consider applying to transfer its securities from The Nasdaq Global Select Market to The Nasdaq Capital Market, provided that the Company meets the applicable market value of publicly held shares required for continued listing and all other applicable requirements for initial listing on The Nasdaq Capital Market (except for the bid price requirement). Such transfer would provide the Company with an additional 180 calendar days, or until April 13, 2025, to regain compliance. There can be no assurance that the Company would be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company’s request for continued listing.
The Notice has no immediate effect on the listing or trading of the Company’s common shares.
The Company intends to monitor the bid price of its common shares and consider available options to regain compliance with the Minimum Bid Price Rule.
About Affimed N.V.
Affimed (Nasdaq: AFMD) is a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer by actualizing the untapped potential of the innate immune system. The Company’s innate cell engagers (ICE®) enable a tumor-targeted approach to recognize and kill a range of hematologic and solid tumors. ICE® are generated on the Company’s proprietary ROCK® platform which predictably generates customized molecules that leverage the power of innate immune cells to destroy tumor cells. A number of ICE® molecules are in clinical development, being studied as mono- or combination therapy. Headquartered in Mannheim, Germany, Affimed is led by an experienced team of biotechnology and pharmaceutical leaders united by the bold vision to stop cancer from ever derailing patients’ lives. For more about the Company’s people, pipeline and partners, please visit: www.affimed.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions. Forward-looking statements include, among other things, statements regarding the Company’s compliance with the Minimum Bid Price Rule and listing or trading of the Company’s common shares. Actual results may differ materially from the results anticipated by the Company’s forward-looking statements due to certain risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact
Alexander Fudukidis
Director, Investor Relations
E-Mail: a.fudukidis@affimed.com
Tel.: +1 (917) 436-8102
Media Contact
Mary Beth Sandin
Vice President, Marketing and Communications
E-Mail: m.sandin@affimed.com
FAQ
What happens if AFMD stock stays below $1 after the initial 180-day compliance period?
When does AFMD need to regain compliance with Nasdaq's minimum bid price requirement?
Will AFMD be immediately delisted from Nasdaq due to the deficiency notice?
What is the minimum stock price AFMD needs to maintain for Nasdaq compliance?
