Affimed Stock Price, News & Analysis

Affimed N.V. (Nasdaq: AFMD) announced acceptance of four abstracts for the American Society of Clinical Oncology (ASCO) Annual Meeting, occurring June 3-7, 2022, in Chicago.

The presentations will cover phase 1/2 studies of AFM13 and AFM24, targeting CD30-positive lymphomas and advanced EGFR-expressing solid tumors, respectively. Notably, an oral presentation will detail AFM13 combined with NK cells in CD30-positive lymphoma patients, while three posters will outline the AFM24 studies involving monotherapy and combinations with other treatments.

Affimed N.V. (Nasdaq: AFMD) announced the successful closure of its public offering of 22,500,000 common shares at $4.00 per share. The underwriters exercised their option for an additional 3,375,000 shares, raising total gross proceeds to $103.5 million. The offering was facilitated by Jefferies LLC, SVB Leerink, Truist Securities, and Wells Fargo Securities, among others. Effective from April 6, 2022, the shelf registration statement allows the company to issue these securities. Funds raised will support Affimed's immuno-oncology initiatives.

Affimed N.V. (Nasdaq: AFMD) announced a public offering of 22,500,000 common shares priced at $4.00 each, with a potential additional 3,375,000 shares from underwriters. The offering is expected to generate approximately $84.6 million after discounts and is projected to close around April 18, 2022. This funding is aimed at supporting the company's clinical-stage immuno-oncology research and initiatives. Jefferies LLC and other firms are managing the offering, which will be conducted through a prospectus filed with the SEC.

Affimed (Nasdaq: AFMD), a clinical-stage immuno-oncology company, announced an underwritten public offering of common shares on April 12, 2022. The offering includes a 30-day over-allotment option for underwriters to purchase up to 15% more shares. Affimed will sell all shares in this offering, which depends on market conditions, with no guarantees on completion or terms. Jefferies LLC, SVB Leerink, Truist Securities, and Wells Fargo Securities are the joint book-running managers. A preliminary prospectus has been filed with the SEC and is available online.

Affimed N.V. has reported promising results from its ongoing Phase 1/2 study of AFM13 combined with cord blood-derived NK cells for treating refractory CD30-positive lymphomas. The study achieved a 100% objective response rate and a 62% complete response rate in 13 patients after two treatment cycles. Notably, seven patients maintained their complete response at a median follow-up of 6.5 months. Treatment was well tolerated, with minimal side effects. The FDA has approved an amendment to allow additional treatment cycles, potentially enhancing efficacy.

Affimed N.V. (Nasdaq: AFMD) announced progress in the phase 1/2a study of its Innate Cell Engager (ICE®) AFM24. The recommended phase 2 dose was established at 480 mg, demonstrating a well-managed safety profile and pharmacodynamic activity observed from 160 mg upwards. The maximum tolerated dose has not yet been reached, and dose escalation continues to 720 mg. In total, the clinical AFM24 program involves three studies across seven indications, focusing on patients with EGFR-expressing tumors. Updates on the studies are anticipated later in 2022.

Affimed N.V. (Nasdaq: AFMD) announced its financial results for 2021 and updates on clinical programs. The company reported total revenue of €40.4 million, up from €28.4 million in 2020, mainly driven by collaborations. However, net loss increased to €57.5 million, or €0.48 per share. As of December 31, 2021, cash and equivalents stood at €197.6 million, ensuring a runway into the second half of 2023. Key developments include completed enrollment for the AFM13-202 study and ongoing trials for AFM24 and AFM28. Results from several studies are anticipated in 2022.

Affimed N.V. (Nasdaq: AFMD) will release its full year 2021 results on March 31, 2022. A conference call will follow at 8:30 a.m. EDT, accessible via phone and webcast. Interested parties can dial +1 (409) 220-9054 for U.S. access or +44 (0) 8000 323836 for international calls, using conference ID 6590614. The company specializes in immuno-oncology, leveraging its ROCK® platform to develop innovative therapies that harness the innate immune system to target various tumors. Further information is available on their website.

Affimed N.V. (Nasdaq: AFMD) announced two abstracts with clinical data accepted for presentation at the AACR Annual Meeting 2022 in New Orleans, from April 8-13.

One presentation will focus on the phase 1/2 study of AFM13, evaluated with NK cells for treating CD30-positive lymphomas. The other will feature AFM24's dose-escalation study in patients with solid tumors. AFM13 and AFM24 are both innate cell engagers (ICE®) targeting hematologic and solid tumors, respectively, showcasing Affimed's commitment to enhancing cancer treatment through innovative therapies.