Affimed Stock Price, News & Analysis

Affimed N.V. (Nasdaq: AFMD) announced that interim results from its phase 1/2 study of AFM24 have been accepted for presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting from June 2-6, 2023. The study includes a non-small cell lung cancer (NSCLC) cohort with a poster session on June 3, and results from a colorectal cancer (CRC) cohort accepted for online publication. AFM24 is a bispecific innate cell engager designed to activate the innate immune system against tumors, leveraging its unique mechanism to bind CD16A on immune cells and EGFR on cancer cells. The full abstracts will be available on May 26, 2023. This innovative treatment is being evaluated both as a monotherapy and in combination with other therapies.

Affimed N.V. (Nasdaq: AFMD) announced significant findings from a poster presentation at the AACR Annual Meeting in Orlando, Florida. The preclinical study, developed in collaboration with Prof. Björn Önfelt, highlights the ability of AFM13 to enhance serial killing of tumor cells by natural killer (NK) cells, even those exhibiting low CD30 levels. Results indicate that AFM13 achieved higher killing efficiency through antibody-dependent cellular cytotoxicity (ADCC) compared to existing monoclonal antibodies. Moreover, the study suggests that CD16A shedding enables NK cells to migrate to additional target cells after the initial kill. The company plans to submit an IND for a Phase 2 study combining AFM13 with NK cells in 2023, following encouraging Phase 1/2a trial outcomes.

Affimed N.V. (Nasdaq: AFMD) reported promising results from its phase 2 REDIRECT study of AFM13, an innate cell engager (ICE®) targeting relapsed/refractory peripheral T cell lymphoma (PTCL). The study achieved an objective response rate (ORR) of 32.4% and a complete response (CR) rate of 10.2% among all patients. Notably, patients with Angioimmunoblastic T cell lymphoma (AITL) had the highest ORR of 53.3%. The median duration of response (DoR) was 2.3 months, median progression-free survival (PFS) was 3.5 months, and median overall survival (OS) was 13.8 months. The safety profile was tolerable with infusion-related reactions occurring in 25% of patients. Affimed plans to develop AFM13 further in combination with AB-101 NK cells, discontinuing plans for accelerated approval of AFM13 monotherapy.

Affimed N.V. (Nasdaq: AFMD) announced that it has received a notice from Nasdaq regarding non-compliance with the Minimum Bid Price Rule, as the bid price of its common shares has been below $1.00 for thirty consecutive business days as of April 4, 2023. The company has a 180-day grace period until October 2, 2023, to regain compliance. If unsuccessful, Affimed may apply to transfer its shares to the Nasdaq Capital Market, granting an additional 180 days until April 1, 2024, to meet the requirement. Currently, the notice does not affect the listing or trading of the company's common shares. Affimed is dedicated to monitoring its share price and exploring options to comply with Nasdaq regulations.

Affimed N.V. (Nasdaq: AFMD) announced the dosing of the first patient in a phase 1 clinical trial for its innate cell engager (ICE^®) AFM28, targeting CD123-positive relapsed/refractory acute myeloid leukemia (AML). This study aims to evaluate the safety, tolerability, and pharmacokinetics of AFM28, which directs natural killer (NK) cells to attack leukemic cells. With AFM28's entry into clinical trials, Affimed expands its pipeline of innovative therapies in hematological cancers, promising new treatment options for patients in dire need. The company anticipates multiple data readouts in 2023.

Affimed N.V. (Nasdaq: AFMD) reported its 2022 financial results and provided updates on its clinical pipeline as of March 23, 2023. The company is on track to file an IND for AFM13 in combination with AB-101 NK cells in H1 2023 and to initiate a clinical study within the year. It highlighted a strong cash position of €190.3 million, anticipated to last into 2025, and an increase in total revenue to €41.4 million, compared to €40.4 million in 2021. However, net loss widened to €86.0 million, reflecting increased R&D and administrative expenses. The company showcased promising AFM13 and AFM24 data at scientific conferences and continues recruiting for AFM28.

Affimed N.V. (Nasdaq: AFMD) announced that it will release its full year 2022 results and a corporate update on March 23, 2023. The release will be followed by a conference call at 8:30 a.m. EDT / 13:30 CET for shareholders and stakeholders.

The call will be accessible via phone and webcast, with a replay available for 30 days following the event. Affimed specializes in immuno-oncology, focusing on harnessing the innate immune system to combat cancer through its proprietary ROCK® platform, which facilitates the development of innovative therapies targeting various tumors.

Affimed N.V. (Nasdaq: AFMD) announced two accepted abstracts for presentation at the AACR Annual Meeting 2023, showcasing the efficacy of AFM13 in treating CD30-positive relapsed or refractory peripheral T-cell lymphoma (R/R PTCL). The oral presentation will detail results from the phase 2 REDIRECT study, demonstrating an objective response rate (ORR) of 32.4% with a duration of response (DOR) of 2.3 months. Additionally, a poster will discuss research on CD16A shedding's role in enhancing natural killer (NK) cell functionality against tumors. Both presentations highlight AFM13's promise in the immuno-oncology field.

AbCheck s.r.o., based in the Czech Republic, has successfully completed its research grant project on antibody isolation technology, receiving over €1 million from the Ministry of Industry and Trade since 2019. As of December 31, 2022, the company not only fulfilled its project objectives but also advanced its novel microfluidics technology, developing additional functional assays in rabbit, chicken, and mouse models. This technology enables faster identification of functional antibodies compared to traditional methods. AbCheck is now applying this technology in commercial projects targeting neurological disorders, inflammatory diseases, and oncology.