Affimed Reports First Quarter 2024 Financial Results & Business Update

Core Insights - Affimed N.V. reported significant progress in its clinical programs, particularly with AFM24, acimtamig, and AFM28, showcasing high overall response rates and promising efficacy data in various cancer treatments [3][4]. Clinical Program Updates - The LuminICE-203 study demonstrated an 85.7% overall response rate (ORR) in treatment-refractory Hodgkin Lymphoma patients, with 4 complete responses (CR) out of 7 patients [1][4]. - Acimtamig (AFM13) in combination with AlloNK® cells showed an ORR of 85.7% in the first 7 patients, with 4 CRs and 2 partial responses (PR) [1][4]. - AFM24 combined with atezolizumab in 17 EGFR wild-type non-small cell lung cancer (NSCLC) patients resulted in 1 CR, 3 PRs, and 8 stable diseases (SD), achieving a disease control rate of 71% [1][6]. - In the EGFR mutant NSCLC cohort, 4 out of 13 patients showed objective responses, including 1 CR and 3 PRs, with a disease control rate of 77% [1][6]. Financial Highlights - As of March 31, 2024, the company reported 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 cash used in operating activities for Q1 2024 was €23.8 million, a decrease from €33.2 million in Q1 2023, primarily due to lower research and development expenditures [9][10]. - Total revenue for Q1 2024 was €0.2 million, a significant decline from €4.5 million in Q1 2023, mainly due to reduced collaboration revenues [10]. Upcoming Milestones - Data readouts from the LuminICE-203 study and the AFM24-102 study for both EGFR mutant and wild-type cohorts are expected in Q3 and Q4 2024, respectively [8].