[25-NSE] Affimed N.V. SEC Filing

Rhea-AI Filing Summary

Nasdaq Stock Market LLC has filed Form 25 to strike Affimed N.V. (AFMD) common stock from listing and registration under Section 12(b) of the Exchange Act. The notification, signed on 2025-07-21 by a Nasdaq hearings advisor, states that the exchange believes it meets all regulatory requirements for delisting. No financial results, trading data, or rationale are provided in the filing.

The action will remove AFMD from the Nasdaq Global Market once the SEC’s 10-day period elapses, and registration under Section 12(g) will be terminated after 90 days unless the company files contrary documentation. Investors should anticipate the stock moving to an over-the-counter venue or another exchange, subject to separate listing standards.

Positive

• None.

Negative

• Nasdaq filed Form 25 to delist AFMD common stock, removing exchange listing and SEC Section 12(b) registration, which typically reduces liquidity and investor access.

Insights

Equity Analyst

TL;DR: Nasdaq is delisting AFMD; liquidity and visibility will drop, raising risk.

The Form 25 signals a formal removal of Affimed’s common shares from Nasdaq. Delistings typically erode trading volume, widen bid-ask spreads, and restrict institutional ownership because many funds cannot hold OTC securities. While the form does not disclose why Nasdaq acted, the absence of financial or compliance details limits clarity. In my view, the event is materially negative for existing shareholders and may pressure the share price as index funds and mandate-bound investors exit positions.

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-36619

Issuer:	Affimed N.V.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	Gottlieb-Daimler Strasse 2
	Mannheim	GERMANY	68165
Telephone number:					+49-6221-65307-64

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-07-21	By	Aravind Menon		Hearings Advisor
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Why is Affimed (AFMD) being delisted from Nasdaq?

The Form 25 only states that Nasdaq has met the regulatory requirements for removal; it does not specify the underlying cause.

When will the AFMD delisting become effective?

Ten days after the Form 25 filing (2025-07-21), unless the SEC delays the process.

Will AFMD shares continue to trade after delisting?

Shares usually migrate to an over-the-counter market, but this filing does not confirm the post-delisting venue.

Does the Form 25 terminate all SEC registration for AFMD?

Section 12(g) registration ends 90 days after filing unless the company files to maintain it.

What impact does delisting have on shareholder liquidity?

Delisting generally lowers trading volume and may widen spreads, making it harder to buy or sell shares efficiently.