Benzinga -
- H.C. Wainwright initiated coverage on Affimed NV (NASDAQ: AFMD), a clinical-stage biotechnology company focused on developing innate cell engagers (ICEs) for cancer treatment.
- The analyst has a Buy rating with a price target of $6 and says that ICEs have promising potential in cancer treatment, given their superior CD16A binding profile and unique mechanisms of action.
- Affimed's lead clinical candidate, AFM13, an anti-CD30 ICE (NYSE:ICE), has demonstrated a manageable tolerability profile and promising clinical activity in a Phase 2 study in patients with relapsed/refractory (r/ r) CD30+ peripheral T cell lymphoma.
- Affimed announced topline data from its phase 2 REDIRECT study of AFM13 monotherapy in advanced-stage relapsed/refractory peripheral T-cell lymphoma.
- The company said it does not intend to pursue accelerated approval for AFM13 monotherapy in PTCL and will focus investment on clinical development in the combination of AFM13 with Artiva's AB-101 NK cell product.
- Furthermore, Affimed is evaluating AFM24, an ICE targeting epithelial growth factor receptor, in three Phase 1/2 solid tumor studies.
- The analyst writes that AFM13 and AFM24 could unleash the therapeutic potential of innate immune cells across multiple solid and liquid tumors.
- H.C. Wainwright projects Affimed to generate risk-adjusted peak revenues of €816 million in 2032.
- Price Action: AFMD shares are down 37% at $1.28 on the last check Monday.
| Feb 2022 | Cantor Fitzgerald | Initiates Coverage On | Overweight | |
| Oct 2021 | Truist Securities | Initiates Coverage On | Buy | |
| Oct 2021 | SVB Leerink | Maintains | Outperform |
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