MANNHEIM, Germany, Aug. 29, 2024 (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 will release second quarter 2024 results and corporate update on Thursday, September 5, 2024. The Company will host a conference call at 8:30 a.m. EDT / 14:30 CET. The conference call will be available via phone and webcast. The live audio webcast of the call will be available in the “Webcast ...

Affimed N.V. (NASDAQ:AFMD) Q1 2024 Earnings Conference Call June 12, 2024 8:30 AM ET Company Participants Alexander Fudukidis – Head, IR Andreas Harstrick – CMO and Interim CEO Michael Wolf – VP, Finance Conference Call Participants Srikripa Devarakonda - Truist Securities Daina Graybosch - Leerink Partners Maury Raycroft - Jefferies Li Watsek - Cantor Fitzgerald Yale Jen - Laidlaw & Company Bradley Canino - Stifel, Nicolaus & Company Operator Good day, everyone and welcome to Affimed's First Quarter 2024 E ...

HARNESSING THE POTENTIAL OF THE INNATE IMMUNE SYSTEM FOR ONCOLOGY NASDAQ: AFMD Q1 2024 Business & Financial Update Forward-Looking Statements This presentation and the accompanying oral commentary contain “forward-looking” statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation and the accompanying oral commentary, including statements regarding our future financial condition, business strategy and plans and objecti ...

Financial Performance - Revenue for Q1 2024 was €155, a decrease of 96.6% compared to €4,510 in Q1 2023[2] - Operating loss for Q1 2024 was €19,535, a reduction of 37.9% compared to €31,461 in Q1 2023[2] - Total comprehensive loss for the period was €19,175, down from €31,983 in Q1 2023, representing a 40.0% improvement[2] - The company recognized €0.2 million in revenue for the three months ended March 31, 2024, consistent with the revenue recognized in the same period of 2023[29] - The company recognized €0 in revenue from the collaboration with Roivant Sciences Ltd. for the three months ended March 31, 2024, compared to €4.3 million in the same period of 2023[31] Expenses and Losses - Research and development expenses decreased to €15,391, down 47.9% from €29,531 in the same period last year[2] - Cash and cash equivalents decreased to €14,348 from €38,529 at the end of Q4 2023, a decline of 62.8%[4] - Accumulated deficit as of March 31, 2024, was €555.3 million, up from €536.1 million at the end of 2023[4] - Total equity decreased to €40.7 million from €57.8 million at the end of 2023, a decline of 29.5%[4] - The company expects to incur operating losses for the foreseeable future, with current cash resources projected to last into the second half of 2025[13] Strategic Actions - A strategic restructuring in January 2024 led to a 50% reduction in headcount, incurring €1.6 million in termination expenses[10] - The company is pursuing various financing alternatives, including equity issuance and strategic partnerships, to meet future cash requirements[15] - The company completed a 1-for-10 reverse stock split on March 8, 2024, retroactively adjusting the weighted average number of ordinary shares and loss per share for the previous periods[18] - The company sold its subsidiary AbCheck s.r.o. for a gross purchase price of €5.8 million, with part of the payment expected to be settled in shares[37] Investments and Assets - The company holds investments in Government treasury bonds amounting to €34.2 million as of March 31, 2024, generating interest income of €0.4 million during the same period[36] - Contract liabilities decreased from €1.1 million as of December 31, 2023, to €0.9 million as of March 31, 2024, with the remaining obligation expected to be recognized as revenue over the next 18 months[33] - The company had no trade receivables as of March 31, 2024, with other receivables primarily consisting of VAT receivables of €1.3 million[38] Share-Based Payments and Options - As of March 31, 2024, 2,673,300 ESOP 2014 options were outstanding, an increase from 2,181,888 on December 31, 2023, with 1,570,848 awards vested[45] - The fair value of share-based payments recognized for the three months ended March 31, 2024, was €789, a significant decrease from €4,158 in the same period of 2023[47] - The Group granted 570,250 awards during the three months ended March 31, 2024, with a fair value at grant date amounting to €2.3 million ($2.4 million)[44] - 78,838 ESOP 2014 awards were cancelled or forfeited due to termination of employment in the three months ended March 31, 2024, compared to 150,815 in the same period of 2023[44] - The exercise price of options outstanding as of March 31, 2024, ranged from $3.50 to $134.70, with a weighted average exercise price of $29.61[45] Loans and Liabilities - The Group's loan agreement with Bootstrap Europe provides up to €25 million in term loans, with €10 million drawn in February 2021 and €7.5 million in December 2021[52] - The lease liabilities increased by €0.8 million due to additional office space taken on January 1, 2024, with a reassessed lease term of 5 years[55] Compensation - Compensation for supervisory board directors was €117 in Q1 2024, down from €125 in Q1 2023, while management board compensation was €594, down from €944[56]

- Initial data from the LuminICE-203 study shows 85.7% overall response rate (ORR) (6 of 7 patients); 4 out of 7 patients with complete response (CR) - - AFM28 shows single agent efficacy with 2 CR/CRi and 3 stable disease (SD) in 6 patients treated at dose level of 300 mg weekly - Acimtamig (AFM13) combination with AlloNK® (AB-101) natural killer (NK) cells: Recruitment in cohorts 1 and 2 completed. In the first 7 treatment refractory Hodgkin Lymphoma (HL) patients, an ORR of 85.7% observed, with 4 CRs and ...

Core Insights - Affimed N.V. reported significant clinical progress across its three main programs: AFM24, acimtamig (AFM13), and AFM28, demonstrating high overall response rates and promising efficacy in heavily pretreated cancer patients [2][3][4]. Clinical Program Updates - **Acimtamig (AFM13)**: The LuminICE-203 study showed an overall response rate (ORR) of 85.7% in treatment-refractory Hodgkin Lymphoma patients, with 4 complete responses (CR) and 2 partial responses (PR) [1][4]. - **AFM24**: In combination with atezolizumab, the treatment yielded 4 confirmed responses (1 CR, 3 PR) and 8 stable diseases (SD) in 17 EGFR wild-type non-small cell lung cancer (NSCLC) patients, achieving a disease control rate of 71% [1][6]. The initial data from the EGFR mutant cohort showed an ORR of 77% [1][6]. - **AFM28**: The phase 1 study reported a CR/CRi rate of 33% among 6 patients treated at the highest dose level, with no unexpected safety signals [1][7]. Financial Highlights - As of March 31, 2024, the company had cash, cash equivalents, and short-term investments totaling €48.5 million, which is expected to support operations into the second half of 2025 [9][10]. - The net loss for the first quarter of 2024 was €19.2 million, a decrease from €32.0 million in the same period of 2023, reflecting lower research and development expenses [12][10]. - Total revenue for the quarter was €0.2 million, significantly down from €4.5 million in the previous year, primarily due to reduced collaboration revenue [10][12]. Upcoming Milestones - Data readouts from the LuminICE-203 study and the AFM24-102 study are expected in Q3 and Q4 2024, respectively, which will provide further insights into the efficacy of the treatments [8].

Core Viewpoint - Affimed N.V. is set to release its first quarter 2024 results and corporate update on June 12, 2024, with a conference call scheduled for 8:30 a.m. EDT / 14:30 CET [1] Company Overview - Affimed N.V. is a clinical-stage immuno-oncology company focused on harnessing the innate immune system to combat cancer [3] - The company develops innate cell engagers (ICE®) that target and kill various hematologic and solid tumors, utilizing its proprietary ROCK® platform to create customized molecules [3] - Affimed is headquartered in Mannheim, Germany, and is led by a team of experienced biotechnology and pharmaceutical leaders [3] Conference Call Details - The conference call will be accessible via phone and webcast, with a live audio webcast available on the company's website [1] - Participants are encouraged to join the call 15 minutes early to avoid delays, and a replay of the webcast will be available for 30 days post-call [2]

Core Viewpoint - Affimed N.V. is set to release its first quarter 2024 results and corporate update on June 12, 2024, with a conference call scheduled for 8:30 a.m. EDT / 14:30 CET [1]. Company Overview - Affimed N.V. is a clinical-stage immuno-oncology company focused on harnessing the innate immune system to combat cancer, utilizing its proprietary ROCK® platform to develop innate cell engagers (ICE®) that target and kill various tumors [3]. - The company is headquartered in Mannheim, Germany, and is led by a team of experienced biotechnology and pharmaceutical professionals dedicated to improving cancer treatment outcomes [3]. Conference Call Details - The conference call will be accessible via phone and webcast, with a live audio webcast available on the company's investor relations page [1]. - Participants are encouraged to join the call 15 minutes early to avoid delays, and a replay of the webcast will be available for 30 days post-call [2].

Affimed N.V. (AFMD) surged 68.5% after the company reported follow-up efficacy data from the EGFR wild-type (EGFRwt) cohort and initial clinical efficacy data from the EGFR mutant (EGFRmut) cohort of the ongoing early to mid-stage study of AFM24 to treat non-small cell lung cancer (NSCLC) patients.The phase I/IIa AFM24-102 study is evaluating AFM24 in combination with Roche’s (RHHBY) immuno-oncology drug, Tecentriq (atezolizumab), in heavily pre-treated NSCLC patients.Please note that the company first repo ...

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Affimed N.V. (AFMD) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.Affimed N.V. is a member of the Medical sector. This group includes 1046 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 dif ...