Affimed To Study AFM24/SNK-01 Combo In Solid Tumor Settings - Affimed (NASDAQ:AFMD)

The FDA has signed off an investigational new drug application for Affimed NV AFMD and NKMax America co-sponsored Phase 1/2a dose escalation and expansion study to evaluate AFM24 and SNK-01 in EGFR-expressing solid tumors.
The Phase 1/2a study will be an open-label, non-randomized, multi-center, US-only, dose-escalation trial to evaluate the combination, with the primary objective to establish the safety and the recommended Phase 2 dose.
The Phase 1 part will also assess pharmacokinetics, pharmacodynamics, and preliminary activity.
The Phase 2a portion of the study will evaluate the preliminary efficacy of AFM24 in patients with select solid tumor subtypes.
Credit Suisse analyst Brad Canino initiates coverage on Affimed with an Outperform rating and a Price Target of $15.
Price Action: AFMD shares are up 6.5% at $7.82 in the market trading session on the last check Wednesday.