Affimed Sees Promising Advances in Cancer Treatment This Quarter
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Affimed Achievements in the Second Quarter
Affimed N.V. (Nasdaq: AFMD), a leading innovator in clinical-stage immuno-oncology, has reported significant advancements in its oncology pipeline for the second quarter of 2024, providing insights not only on financial results but also on ongoing clinical studies aimed at revolutionizing cancer treatment.
Key Clinical Highlights
One of the primary achievements this quarter includes the results of the AFM24 combination therapy with atezolizumab for patients with EGFR mutant non-small cell lung cancer (NSCLC). Out of 24 treated patients, the response evaluation demonstrated a total of 1 complete response (CR), 3 partial responses (PR), and 8 stable diseases (SD), indicating an objective response rate (ORR) of 23.5% and a disease control rate (DCR) of 70.6%. Importantly, this data was based on a median follow-up period exceeding 7 months, with 8 patients still continuing the treatment regimen.
Further Investigations in NSCLC
The ongoing trials for the EGFR wild type (EGFRwt) cohort are also moving forward, having enrolled a total of 40 patients. Initial results on safety and efficacy are anticipated by the end of 2024, marking a crucial milestone in the ongoing fight against NSCLC.
Progress in Hematologic Malignancies
Meanwhile, the Acimtamig (AFM13) combination therapy with AlloNK® (AB-101) has shown great promise in treating relapsed/refractory Hodgkin Lymphoma (HL), successfully completing enrollment for its first two cohorts with an impressive ORR of 83.3%. Out of 12 patients, there were 6 complete responses (CRs) noted, highlighting the potential of this combination therapy in patients who have previously exhausted all approved treatment avenues.
Encouraging Data from AFM28 Study
The initial phase of the AFM28 monotherapy study demonstrated that half of the 6 treated patients with relapsed/refractory Acute Myeloid Leukemia (r/r AML) reported either CR or CR with incomplete hematological recovery (CRi). With encouraging outcomes from these results, an additional 6 patients will be recruited for the assessment, highlighting the optimistic trajectory of Affimed's therapies.
Financial Overview and Stability
Affimed's financial health appears robust, with a reported €34.4 million in cash, cash equivalents, and investments as of June 30, 2024. The company has effectively decreased its cash used in operations, drawing down to €16.5 million from €33.2 million in the same quarter last year. This improvement was primarily attributed to reduced research and development expenditures attributed to strategic restructuring.
Long-Term Financial Projections
The projected cash runway extends into the second half of 2025, allowing the company to sustain its pivotal clinical programs and research initiatives without immediate financial concerns. Additionally, revenue incurred in Q2 2024 equated to €0.2 million, primarily from platform licenses, contrasting with the previous year’s figures which included collaborations that have since concluded.
Looking Ahead
Affimed's continued advancements in immuno-oncology are both remarkable and promise significant breakthroughs in cancer treatment strategies. With upcoming milestones in its clinical programs, including presentations at scientific conferences scheduled for late 2024 and early 2025, the company remains on a productive and encouraging path in the field of cancer therapies.
Frequently Asked Questions
What were the key highlights from Affimed's Q2 2024 report?
Affimed reported positive response rates for its AFM24 combination therapy, advanced trials in Hodgkin Lymphoma, and improvements in cash flow management.
How does AFM24 perform in non-small cell lung cancer?
The AFM24 therapy resulted in a 23.5% objective response rate with significant disease control noted among patients treated.
What financial position does Affimed hold moving forward?
As of June 30, 2024, Affimed has a solid cash position of €34.4 million, forecasting a cash runway that extends into the second half of 2025.
What milestones are anticipated in Affimed's future clinical studies?
Affimed expects to present important data from ongoing trials at scientific conferences in Q4 2024 and H1 2025, showcasing progress in its studies.
What is the company’s main focus in oncology?
Affimed focuses on harnessing the innate immune system through its innovative ICE® therapies, aimed at treating various hematologic and solid tumors.
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