Home Trending Stocks The AFMD Stock Is Rising In Premarket Trade; What Is Driving It?

The AFMD Stock Is Rising In Premarket Trade; What Is Driving It?

As of Thursday’s premarket, shares of Affimed N.V. (NASDAQ: AFMD) are up 30.29% to $10.28. Affimed stock closed the last trading session at $7.89, up 1.15 percent. A total of 1.85 million shares were traded on AFMD stock, which was a bit below the average daily trading volume of 1.86 million shares for the last 50 days.

The surge in AFMD stock price has been accompanied by an array of positive news in its Phase 1 Study for Natural Killer Cells as well as the release of its quarterly results scheduled for mid this month.


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What were those developments?

Affimed is an immuno-oncology company that is committed to helping patients re-discover their inherent ability to fight cancer by realizing the untapped ability of their innate immune system. AFMD’s proprietary ROCK platform offers tumor-targeted therapy to identify and kill a range of cancers both hematologic and solid.

According to the Affimed announcement on Thursday, it will release financial and management update as well as results for the whole year 2020 on April 15, 2021. An earnings conference call will be held by AFMD at 8:30 a.m. Eastern Standard Time.

AFMD also released positive initial clinical data from an investigator-sponsored study on the same day. A study at the MD Anderson Cancer Center at The University of Texas was conducted for the study. Objectives of the trials included investigating the cord blood-derived natural killer (cbNK) cells’ activity when pre-complexed with AFMD’s innate cell engager (ICE) AFM13 (CD16A/CD30).

What do the study results meant for AFMD?

This revolutionary treatment has been tested in humans for the first time and has been shown to be both safe and effective, which will be an encouraging factor for Affirmed (AFMD). Research indicates that AFMD’s treatment may help the immune system find and destroy cancer cells. By taking advantage of these approaches, AFMD will be able to optimize treatment options for a variety of hematologic and solid tumors, by leveraging the unique and differentiating features of its ICE molecules.

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