Affimed N.V. (AFMD) stock declined in the intraday trading session today on November 22, 2021. AFMD stock price saw a downtrend of 2.38% to reach $6.54 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 1.17% at closing. Let’s discuss more this stock and understand the reason behind this bull.

Affimed N.V is the clinical-stage biopharmaceutical stock that is engaged in the development and discovery of cancer immunotherapies in the U.S. The stock has a market value of $806.234 million and a 1,362,684 average trading volume.

What’s Happening?

AFMD stock today released the interim clinical results from the investigator-initiated phase 1-2 study. The stock conducted the study at The University of Texas MD Anderson Cancer Center. The study team evaluated cbNK cells pre-complexed with Affimed’s innate cell engager (ICE®) AFM13.

A total of 18 subjects with CD30-positive relapsed or refractory Hodgkin and non-Hodgkin lymphomas enrolled in the study as of October 31, 2021. 16 out of 18 patients showed the desired response. The investigators observed seven complete responses and nine partial responses. The treatment showed well tolerance and no serious adverse event occurred during the treatment.

The data released recently aligns with the data which AFMD stock presented at AACR earlier in this year. The response rate was encouraging, and the combination represents a good safety profile. This is a good sign for those patients who are sensitive to aggressive therapies.

Financial View of AFMD stock:

Recently on November 10, 2021, AFMD stock did announce third-quarter 2021 financial results according to which

• Revenue declined from €10.5 million in Q3,2020 to €8.7 million in Q3,2021.
• AFMD stock spent €20.6 million in research and development expenses in the third quarter of 2021. These expenses were €10.1 million in the same period of the previous year.
• General and administrative expenses jumped from €3.5 million in Q3,2020 to €6.8 million in the third quarter of 2021. The high personnel expenses resulted in this increase.
• AFMD stock recorded a net finance income of €1.5 million for the recently reported quarter. In the same period of the previous year, the company reported €3.1 million net finance loss.
• AFMD stock suffered a net loss of €17.1 million in the third quarter of 2021. This compares to €6.0 million net loss in the same period of the previous year.
• By the end of the third quarter of 2021, AFMD stock had €198.7 million in cash and cash equivalents.

Wrap Up:

Affimed stock declined despite the announcement of positive interim clinical results of phase 1-2 study. The stock has gained 12.35% in the last thirty days however, it lost 25.55% in the last six months.