Affimed: Hits near 2-1/2 yr high on cancer drug pact with Genentech

Affimed NV

28/08/2018 15:38

(Updates)
    ** Affimed's shares  AFMD.O  surge 169 pct to touch near
2-and-a-half yr high of $4.3
    ** Stock is top pct gainer on the Nasdaq Composite Index
 .IXIC 
    ** Cancer drug developer to collaborate with Genentech to
develop novel NK-cell engager-based immunotherapeutics to treat
multiple cancers
    ** Co to get $96 mln upfront and committed funding; is
eligible for up to additional $5 bln, including in milestone
payments and sales royalties  urn:newsml:reuters.com:*:nGNX52SmST
    ** Jefferies says deal indicates intrinsic value in AFMD's
Redirected Optimized Cell Killing platform and approach that is
under-appreciated by the Wall Street
    ** Positive data from AFMD's lead candidate will validate
NK-cell immuno-oncology as next direction of cancer therapies,
says BMO Capital Markets
    ** Brokerage Laidlaw and Co expects AFMD to sign other major
deals in the longer term, if appropriate partners are involved 
    ** Up to Monday, AFMD shares up ~23 pct YTD, valuing the co
at a shade under $100 mln
    ** AFMD rev in Q2 was 0.2 mln pounds ($255,060) and solely
derived from AbCheck services vs. 0.5 mln pounds a year earlier

 (Reporting by Savio D'Souza and Saumya Sibi Joseph)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))