Affimed Reports First Quarter 2024 Financial Results & Business Update

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].