Shares of biopharmaceutical company Affimed (NASDAQ:AFMD) are on the rise today after the U.S. Food and Drug Administration (FDA) gave a go-ahead to its investigational new drug (IND) application for the AFM13 and AB-101 combination’s Phase 2 trial in subjects with relapsed/refractory (r/r) classical Hodgkin Lymphoma (cHL) and CD30-positive peripheral T Cell Lymphoma (PTCL).
The company plans to begin the trial in the third quarter of this year with data from the safety run-in leg anticipated in H1 2024.
Additionally, the company also announced first quarter numbers with revenue dropping 4.7% year-over-year to €4.51 million. The company’s top line was primarily made up of contributions from Genentech and Roivant collaborations during this period.
Further, a rise in operating expenses meant the company’s net loss per share for the quarter widened to €0.21 from €0.14 a year ago.
Despite today’s price gains, Affimed shares are still down nearly 67.3% over the past year.
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