The earnings call highlighted significant progress in clinical trials, particularly with AFM24 and AFM28, and a strategic focus on partnerships and financial health. However, there were notable challenges, including a decline in revenue and reduced cash reserves. Despite these challenges, the company's efforts to improve its financial position and strategic focus are promising.

Company Guidance

During the Affimed Q3 2024 earnings call, significant financial and operational metrics were presented, highlighting the company's progress and future expectations. Affimed reported a cash balance of EUR 24.1 million at the end of Q3 2024, down from EUR 72 million at the end of 2023, indicating a reduction due to operational activities. The net cash used in operating activities was EUR 11.1 million for Q3 2024 compared to EUR 18.3 million in Q3 2023, reflecting improved operational efficiency. Total revenue for the quarter was EUR 0.2 million, a decrease from EUR 2 million in the same period last year, while R&D expenses were reduced to EUR 10.1 million from EUR 21.5 million in Q3 2023. Affimed also reported a net loss of EUR 15.1 million, improving from a net loss of EUR 24.4 million in Q3 2023. The company anticipates that its current financial resources, including expected proceeds from the ATM program and the sale of AbCheck, will fund operations into the fourth quarter of 2025. These metrics underscore Affimed's strategic focus on financial health and operational efficiency as it advances its clinical programs and seeks potential partnerships.

Clinical Proof of Concept Across Multiple Assets

Affimed has demonstrated clinical proof of concept across three different assets spanning solid tumors and hematologic malignancies, showing activity in both monotherapy and combination studies.

Positive Outcomes for AFM24

In the AFM24-102 trial, 71% disease control rate was observed with a median progression-free survival of 5.9 months in non-small cell lung cancer patients.

AFM28 Achievements

AFM28, targeting CD123 for acute myeloid leukemia, has shown a favorable safety profile with no dose-limiting toxicities at a 300 mg weekly dose.

Financial Health and Strategic Focus

Net loss decreased from EUR 24.4 million in Q3 2023 to EUR 15.1 million in Q3 2024. The company is focused on improving financial health and pursuing strategic partnerships.

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Affimed (AFMD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AFMD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 27, 2025	2024 (Q4)	-0.75 / -	-1.39	―	―	―
Nov 14, 2024	2024 (Q3)	-0.97 / -0.99	-1.68	41.25% (+0.69)
Sep 05, 2024	2024 (Q2)	-1.02 / -1.06	-2.1	49.50% (+1.04)
Jun 12, 2024	2024 (Q1)	-1.62 / -1.33	-2.205	39.52% (+0.87)	―
Mar 28, 2024	2023 (Q4)	-1.62 / -1.46	-2.31	36.82% (+0.85)
Nov 14, 2023	2023 (Q3)	-1.93 / -1.68	-1.155	-45.45% (-0.53)
Aug 10, 2023	2023 (Q2)	-1.96 / -2.10	-1.365	-53.85% (-0.74)
May 23, 2023	2023 (Q1)	-2.01 / -2.21	-1.47	-50.00% (-0.74)
Mar 23, 2023	2022 (Q4)	-2.01 / -2.31	-1.995	-15.79% (-0.32)	―
Nov 15, 2022	2022 (Q3)	-1.82 / -1.16	-1.47	21.43% (+0.32)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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AFMD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 14, 2024	$3.75	$3.65	-2.67%
Sep 05, 2024	$3.75	$3.79	+1.07%
Jun 12, 2024	$6.53	$6.86	+5.05%
Mar 28, 2024	$5.33	$5.30	-0.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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