Affimed NV (AFMD) is Downgraded by Leerink Partners to Mkt Perform

Affimed NV (AFMD) was Downgraded by Leerink Partners to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Leerink Partners advised their investors in a research report released on May 19, 2016.

On the company’s financial health, Affimed NV reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 18, 2016. Analyst had a consensus of $-0.15. The company had revenue of $1.90 million for the quarter, compared to analysts expectations of $1.39 million. The company’s revenue was down -24.0 % compared to the same quarter last year.

Affimed NV opened for trading at $3.35 and hit $3.5 on the upside on Monday, eventually ending the session at $3.45, with a gain of 2.37% or 0.08 points. The heightened volatility saw the trading volume jump to 1,14,451 shares. Company has a market cap of $115 M.

Affimed N.V. (Affimed) is a clinical-stage biopharmaceutical company focused on discovering and developing cancer immunotherapies. The Company’s research and development pipeline consists of AFM13 AFM11 AFM21 TandAb and Trispecific Ab. The Company’s lead candidate AFM13 is a NK-cell TandAb designed for the treatment of certain CD30-positive (CD30+) B- and T-cell malignancies including Hodgkin Lymphoma or HL. AFM11 is a T-cell TandAb designed for the treatment of certain CD19+ B-cell malignancies including non-Hodgkin Lymphoma or NHL Acute Lymphocytic Leukemia or ALL and Chronic Lymphocytic Leukemia or CLL. AFM21 selectively binds Epidermal Growth Factor Receptor variant III or EGFRvIII. The Company’s TandAbs brings NK-cells or T-cells into proximity and triggers a signal cascade that leads to the destruction of cancer cells.

Affimed NV

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