Equity Field Notes from temporal sources

[DanWebzster]

AFMD is a pioneer in directing the innate immune system to fight cancer

It's lead assett, AFM13 has been significantly de-risked in 2020 with a successful POC study.

It has 3 clinical stage programs, each with a potential milestone during the remainder of 2020:

1. Although AFM13 addresses a target for which SGEN is already marketing an approved drug. AFM13 is thought to be significantly less toxic. More interim data is expected this year.

2. Initial clinical AFM24 data will likely be presented this H2 2020. In principle, every cancer patient overexpressing EGFR is a potential user of this drug.

3. Genentech may report progress on the Multiple Myeloma program they licensed from AFMD.

With some of the resources from their lucrative deal with Genentech, AFMD hired a COO from Sandoz.

Cash runway extends into 2022