Affimed rises on positive data from cancer therapy trials

Affimed NV

07/11/2022 18:55

** Shares of cancer cure-developer Affimed N.V.  AFMD.O  up
19% at $2.31 - stock among top percentage gainers on Nasdaq
Biotechnology Index  .NBI  
    ** AFMD provides data update from an early-stage study of
its antibody candidate AFM24 which co is testing as a potential
treatment against several solid tumors 
    ** Findings from the trial testing AFM24 as a monotherapy
shows that it activates natural killer cells and has a
well-managed safety profile
    ** Co is also testing AFM24 in combination with Roche's
Tecentriq targeting a type of advanced, hard to treat solid
tumor in a separate study 
    ** Adds that data shows AFM24 combination therapy has no
dose-limiting toxicities, confirming its ability to produce
immune responses 
    ** Truist Securities says data from combination therapy
trial is "encouraging" as it shows potential at a lower dose for
treating advanced cancer patients who had progressed on prior
therapies
    ** Despite session's gain, stock down 58.2% YTD, compared
with a 13% decline in the Nasdaq Biotechnology index  .NBI 
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))