Nice find. Notice the similarities to ADXS "Germany’s Affimed has struggled to catch the wave of interest in immuno-oncology drugs, causing its market cap to slip below $100 million."
IMO Ken is about to announce a partnership. The signs are there. For the first time in the company's history, several of our execs and Board members recently made open market purchases of the stock with their own money (not free O'Connor RSUs or salary increases to fund small monthly purchases but large purchases of the stock with their own money on the open market). Also, in recent months short interest has come down to a near record low. It's for good reason, smart shorts know that the risk of shorting now at such an undervalued level is very high (e.g., shorting at $1.50 and seeing the stock trade back to $10 on a deal would be very painful). Time will tell. GLTA
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Genentech is handing over $96 million (€82 million) in upfront and near-term payments to work with Affimed on NK and T cell engagers. The deal features $5 billion in milestones and royalties that could land in Affimed’s bank account if the immunotherapies succeed.
Affimed has built its business upon a platform that generates multispecific NK and T cell engagers. The drugs are designed to redirect innate and adaptive immune cells and thereby orchestrate attacks on tumors. For example, Affimed’s lead candidate AFM13 is a bispecific antibody that binds to CD30 on tumors and to CD16A to recruit and activate NK cells.
Germany’s Affimed has struggled to catch the wave of interest in immuno-oncology drugs, causing its market cap to slip below $100 million. But Roche's Genentech likes the look of the platform and has reignited interest in the company.
