Affimed falls on $100 mln stock deal

Lifeist Wellness

13/01/2021 13:27

** U.S.-listed shares of Affimed N.V  AFMD.O  down >5%
premarket as German biopharma raises equity
    ** Immuno-oncology co sells ~16.7 mln shares at $6 for $100
mln gross raise  urn:newsml:reuters.com:*:nGNX9DCBZ5
    ** Deal prices at 9.4% discount to stock's Tues close
    ** Jefferies, SVB Leerink and Credit Suisse joint
bookrunners
    ** Last week, Affimed reported cash and cash equivalents of
~€147M (~$180 mln) at end-Dec, which it said will support
operations into H1 2023  urn:newsml:reuters.com:*:nGNX7CQPVY
    ** Co also said lead drug, AFM13, being tested in Phase II
trial in certain lymphoma patients, and plans to submit
investigational new drug application with FDA for AFM24 in
middle of 2021 as potential treatment for solid tumors
    ** AFMD shares have tripled since Apr when FDA granted AFM13
"orphan drug status", typically granted to drugs being developed
for rare diseases with few treatment options
    ** Co scheduled to present on Thurs at 39th annual JP Morgan
Healthcare Conference  urn:newsml:reuters.com:*:nGNE18VXrj

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))