Affimed Announces Receipt of Nasdaq Delisting Notice
Rhea-AI Summary
Affimed N.V. (AFMD) has received notice from Nasdaq that its common shares will be delisted from the exchange. Trading of AFMD shares will be suspended on May 20, 2025, following the company's insolvency filing in the Mannheim court, Germany, on May 13, 2025.
The delisting decision is based on three key factors: public interest concerns following the insolvency filing, concerns about existing shareholders' residual equity interest, and doubts about the company's ability to maintain Nasdaq listing requirements. Affimed does not plan to appeal this determination.
Positive
- None.
Negative
- Company filed for insolvency in Germany
- Imminent delisting from Nasdaq stock exchange
- Trading suspension of shares effective May 20, 2025
- Company will not appeal the delisting decision
- Concerns about shareholders' residual equity interest
News Market Reaction
On the day this news was published, AFMD declined 2.99%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MANNHEIM, Germany, May 14, 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 from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) notifying the Company that, in accordance with Nasdaq Listing Rule 5101, 5110(b) and IM-5101-1, the trading of the Company’s common shares will be suspended at the opening of business on May 20, 2025, and a Form 25 Notification of Delisting will be filed with the U.S. Securities Exchange Commission to delist the Company’s securities from The Nasdaq Stock Market (“Nasdaq”).
The Staff’s determination was based on (i) the associated public interest concerns raised by the Company’s announcement that it filed for insolvency in the local court of Mannheim in Germany, (ii) concerns regarding the residual equity interest of the existing listed securities holders and (iii) concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq. The Company does not expect to appeal this determination.
As previously reported, on May 13, 2025, the Company filed for insolvency with the local court of Mannheim in Germany.
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 listing and 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
Why is AFMD being delisted from Nasdaq?
When will AFMD stock be suspended from trading on Nasdaq?
Will Affimed appeal the Nasdaq delisting decision?
What happens to AFMD shareholders after the delisting?
When did Affimed file for insolvency?
