Affimed to focus on innate immunity portfolio
German clinical-stage biopharma company Affimed Therapeutics (Nasdaq: AFMD) has announced a plan to focus its research and development investments on advancing on-going and previously announced clinical trials for its innate cell engager candidates, AFM13 and AFM24.
As part of the strategic plan, Affimed will terminate the Phase I clinical program of AFM11, a CD19/CD3-targeting bispecific T cell engager. The company had put two clinical trials of the cancer treatment on hold back in October after one patient died and two others experienced life-threatening events in the high-dose group.
The company also provided an update on recent operational progress and reported financial results for the quarter ended March 31, 2019, but that was not enough to please investors, as Affimed’s shares dropped as much as 10% and closed down 6.9% at $3.09 in Nasdaq trading on Wednesday.
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