Affimed Announces 1-for-10 Reverse Stock Split

MANNHEIM, Germany, March 06, 2024 (GLOBE NEWSWIRE) -- Affimed N.V. (Nasdaq: AFMD) (“Affimed” or the “Company”), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, announced that the Company, with prior approval of the Company’s supervisory board and management board, intends to effect a 1-for-10 reverse stock split of its outstanding common shares, par value €0.01 (“Common Shares”) per share.

The reverse stock split is expected to be effected after market close on March 8, 2024, with the Common Shares expected to begin trading on the Nasdaq Capital Market (“NASDAQ”) on a post-split basis at market open on March 11, 2024 under the Company’s existing trading symbol “AFMD.”

No fractional shares will be issued in connection with the reverse stock split. Shareholders that would hold a fractional share as a result of the reverse stock split will receive a cash payment in lieu of such fractional shares.

The reverse stock split was approved by the Company’s shareholders at the Company’s Annual General Meeting of Shareholders held on June 21, 2023 and is intended to bring the Company into compliance with the minimum $1.00 per share requirement for continued listing on NASDAQ.

Additional information concerning the reverse stock split can be found in Affimed’s proxy materials filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2023 and June 22, 2023, as well as on Affimed’s Investor Relations website, https://www.affimed.com/investors/.

About Affimed N.V.

Affimed (Nasdaq: AFMD) is a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer by actualizing the untapped potential of the innate immune system. The Company’s innate cell engagers (ICE) enable a tumor-targeted approach to recognize and kill a range of hematologic and solid tumors. ICE are generated on the Company’s proprietary ROCK platform which predictably generates customized molecules that leverage the power of innate immune cells to destroy tumor cells. A number of ICE molecules are in clinical development, being studied as mono- or combination therapy. Headquartered in Mannheim, Germany, Affimed is led by an experienced team of biotechnology and pharmaceutical leaders united by the bold vision to stop cancer from ever derailing patients’ lives. For more about the Company’s people, pipeline and partners, please visit: www.affimed.com.