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Affimed Shares Slide On Updated Hodgkin Lymphoma Drug Combo Data

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Affimed Shares Slide On Updated Hodgkin Lymphoma Drug Combo Data

Affimed NV (NASDAQ: AFMD) shares were tumbling Friday after the release of updated data on its Hodgkin lymphoma treatment candidate.

The metric investors are reacting to may be a decline in complete metabolic response seen in the preliminary results.

What Happened

Affimed made a poster presentation at the European Hematology Association Congress of new interim data from a Phase 1b dose escalation study that evaluated AFM13, its lead NK cell engager candidate, in combination with Merck & Co., Inc. (NYSE: MRK)'s Keytruda for relapsed/refractory Hodgkin lymphoma.

The company said 18 patients treated with the combo at the highest AFM13 dose showed the best overall response rate of 89 percent and complete metabolic response of 28 percent.

Both the percentages are better than the those shown by patients treated with an anti-PD-1 monotherapy.

Preliminary data released Feb. 1 showed ORR of 89 percent, complete metabolic response of of 44 percent and partial metabolic response of 44 percent, while one showed stable disease.

Why It's Important

The updated interim data is likely to translate into meaningful progression-free and overall survival over time, according to Affimed. 

What's Next

Affimed said it is planning additional studies of AFM13 in patients with CD30-positive malignancies. The company said it's taking guidance from experts on development plans, including potential accelerated approval paths.

The stock was trading down 18.37 percent at $2 at the time of publication Friday morning. 

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