Affimed Reports Second Quarter 2024 Financial Results & Business Update

Core Insights - Affimed N.V. reported significant clinical progress in its immuno-oncology pipeline, particularly with AFM24, AFM13, and AFM28, showcasing promising efficacy in various cancer types [2][3][4]. Clinical Updates - AFM24 in combination with atezolizumab showed an objective response rate (ORR) of 23.5% and a disease control rate (DCR) of 70.6% in a cohort of 24 EGFR mutant non-small cell lung cancer (NSCLC) patients, with a median follow-up of over 7 months [4][5]. - The AFM13 combination with AlloNK® demonstrated an ORR of 83.3% and a complete response rate (CRR) of 50% in advanced Hodgkin Lymphoma patients [5][6]. - AFM28 monotherapy in a Phase 1 study for relapsed/refractory Acute Myeloid Leukemia (AML) showed a composite complete response rate (CRcR) of 50% among 6 patients treated at the highest dose level [7]. Financial Highlights - As of June 30, 2024, the company reported cash, cash equivalents, and short-term investments totaling €34.4 million, with a projected cash runway into the second half of 2025 [9][10]. - The net cash used in operating activities for Q2 2024 was €16.5 million, a decrease from €33.2 million in Q2 2023, attributed to lower research and development expenses [9][10]. - Total revenue for Q2 2024 was €0.2 million, down from €1.4 million in Q2 2023, primarily due to the completion of prior collaborations [10]. Upcoming Milestones - Efficacy updates for the LuminICE-203 study and safety data from the EGFR wild type cohort of AFM24 are expected to be presented at scientific conferences in Q4 2024 [8]. - Mature progression-free survival (PFS) data from both EGFR mutant and wild type cohorts is anticipated in H1 2025 [8].