AFMD - Earnings call transcript Q2 2022

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Operator

Good day, everyone, and welcome to the Affimed Second Quarter 2022 Financial Results and Corporate Update Conference Call. My name is Vanessa, and I will be your operator for today's call. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to introduce your host for today's call, Mr. Investor Affimed. of Head Fudukidis, Relations at Alex Sir, begin. you may

Alexander Fudukidis

and you you, joining us Thank for today thank all Vanessa, call. for our

Before the Investor remind to section of relevant today, I'd we Relations can begin, website. which on the earlier press everyone found be our issued release we that like

Chief members Denise today, Schottelius, be Officer; our team, Chief The Business Officer; our Arndt including Mueller, Officer; Adi our the call Officer. prepared Q&A of Executive Harstrick, On Hoess, remarks. Chief available session Andreas Officer; Scientific our our we have Smith, Financial Angus management our Chief the and the for Medical after Chief will team

in Forward-Looking turn filed Adi. with identified press the with entitled risks Risk from Factors I'll With those the subject we why Statements that the statements, factors, available the SEC. the in by in we future. entitled and could differ law, actual projections beliefs are over to call. represent to Before today's our differ required assume the no that, to filings These not we statements in our SEC date and that to Except those obligation limited from today materially but assumptions including, to as statements update These in you presentation statements due these the and and as may under identified only of forward-looking statements or those release section information the actual I'd forward-looking and contains Adi? section call issued becomes results results if this publicly new implied of start, or regarding anticipated statements various expressed uncertainties, like these the reasons remind forward-looking to the to, update future materially even and forward-looking under those events.

Adi Hoess

a clear vision relapsed/refractory Affimed, our this for groundbreaking derailing cancer a cell and from XXXX company At innate stop Operational NK need is given Hodgkin that and a were be response the presented, medium data Having patients' and Good cells Call. novel most options Thank cases, particularly all patients Update With for thanks year, you, objective of and of the in has lines to continued and, AFMXX everyone, high approved we the lives. Since Second leading the Progress XXX% presented to Alex. impressive patients. for had from joining Quarter experimental rate combination these the enroll of in engager study achieved day, lymphoma to we number have well, fact X exhausted these prior had patients. therapy. Results Financial and goal with therapy undergone the data AACR underscoring

cell innate CDXXA will this affinity very natural demonstrate macrophages, is activity cell PD-LX natural year. data checkpoint across indeed in molecules and the readouts recently strategy a of about strong with today, inhibitors monotherapy remainder combination engager combinations, with PD-X, upcoming X-pronged our for many program. for And including excited most and the our killer as approach. in synergy very the engager us cells expectations the our I enabled our core We're summarize at of to believe have the and without with bispecific killer tetravalent binding technology and impressive meaningful structure high unique a to attributes through technology from results. we The anti-tumor Now of its competition on immunoglobulin, these circulating

Slide to X. Moving

X show we we have studies. that ongoing For AFMXX,

deliver on track the the release independent overall a be as review and of study preliminary focus relapsed REDIRECT. on to We the the data registration-directed of the will for of more top refractory than known in a blinded T-cell in and committee monotherapy this. assessed For study assessment the also XXX fourth relapsed/refractory enrolled data obviously. remain PTCL line rate AFMXX quarter, patients, response lymphoma, and peripheral The initial by duration as as

nearly There Treatment patients a need. options Just limited, just a and significant the are for X,XXX very a U.S. representing very PTCL. PTCL reminder, prognosis with unmet disease is as in remains poor. patients these relapsed refractory year the with are or each

X remained at as this The Nieto, second is complete with with for CDXX-positive progressing by in who transplant. XXX%. at very And XXXX, in of natural Institute, also XX%, treatment now the including a at rate remains single treatment, this the safe after with a to remained MD trial in that the conference This autologous stem very Indeed, dose The response Cancer X in and had response, follow-up well. second patients. X Phase is a study determined Dr. which patients, of AFMXX, response Phase in patients cells dose the achieved at evaluating the increased XX X in Phase and lead MD enrollment X complete II the cycles. II XX AACR after response who treatment, Anderson, AFMXX demonstrated Anderson who is XX%. consolidation cell rate complete December presented well study a months, of agent co-blood-derived to median AFMXX patients the presented year's recommended study at patients received investigator Data the of Durability cycle lymphoma. in achieved was Anderson overall reported again, patients was response I/II from the relapsed/refractory Of with recommended by at to data by up Yago months XX.X continue killer tolerated pre-complex to treat MD collaboration promising. was patients followed treated allowing response

at now that recommended represents treated XX, of which per treated, cord the have II dose additional XxXX^X kilogram, XX latest July blood-derived enrolled dose. patients protocols, NK patients XX the ACR. data have patients and to cell our XX being including at now M&D dose at Phase note patients up cycles the are Phase based that II an is since been X of on As treatment, update to Important of received recommended here some new at

cryopreserved very this Nieto NK that expecting We're year. are data conference a cell with to from We quarter access strategy for molecules. with our the the report XXXX. an also off-the-shelf at specific announce updated study in path ensure engager to a AFMXX to further innate the half cell with Dr. our well development of we fourth And cell major of game NK progressing scientific development for second expect pace the in again will

to jump me let Now AFMXX.

the patients SNKXX NK including autologous As from in atezolizumab cohort continue monotherapy with for X Slide ongoing and and for studies, the to studies, one product X, the study the shown NKGen. enroll with on cell escalation one all the combination other dose expansion our we

patients this the cell is scientific lung our presented a our year. monotherapy escalation we on dose to ESMO. at and include II to determined at the cancer discussed Phase the dose. continuing dose data we Phase the dose. phase, presented patients further We're XXX-milligram completed The the expansion study, the As Updates dose be recommended as cohort data clinical cell will study expected the renal carcinoma, with monotherapy be the cancer. later escalation correlative from monotherapy with last weekly in expansion of II recommended confirmed non-small including call, conference enroll the and part colorectal phase science from at update of and And

and non-small combinations are of these to the cell this cancer first of phase cohort at biliary continuing the the have enrolling of II the for comprising a We is the II such recommended The gastric the year. data primary are basket Phase the A case the purpose safety In this this are of treating escalation dose also is conference the atezolizumab, from recommended AFMXX. dose of X second is enroll combination the studies into dose hepatocellular quarter the and to escalation of patients with AFMXX-XXX, study, dose and XXX studies. establish In X scientific phase. tract identify is expected which fourth patients dose cancer. cancer, Phase lung completed pancreatic we combination in dose this at we with of cohort milligrams, expansion study AFMXX the the presentation in and of

This is squamous and of the of an in AFMXX-XXX non-small investigating SNKXX cell which with and of is SNKXX, are carcinoma nearing called with at In completion Biotech. lung cancer. which is study combination pain investigated patients and fixed colorectal patients update combination case we a second of treating NKGen cohort neck based X, dose this is and an the AFMXX on cancer, our autologous called study, cell company Now XXX-milligram head planned is in of AFMXX progress.

patients owned engager innate wholly in CDXXX AML. targeting our to with Moving AFMXX, third

outside the Phase study decision in As and submitted now the to dose an first clinical recommended us IND the conduct the taken FDA planned, reengage expect We from dose after a with of this discussion we in enable clinical II And believe the to specifically FDA dose generated. escalation will with design June. the has We early the to following escalation faster. the the dose have strategic to XXXX. data initiate AFMXX identify been the IND intend of to half regarding of focus development escalation, we and FDA decision U.S. we the

in As we've or with cancers mentioned, available. prognosis, regime or refractory the blood no of worst setting AML is with standard currently relapsed salvage one poor care patient of especially the

quickly option be as the Given this it for help able high for priority the will options, desperate disease of is a nature AML We possible. viable offer to believe this patients strategy treatment Affimed such and treatment goal. as to need aggressive for achieve this to

of advancing ASVT-XXXX-XX, Finally, studies. Roivant, development. over partnership Roivant in called In currently In various made existing good and investigated further to work by preclinical case our for Genentech, preclinical partners. programs IND-enabling them with the being handed progress have AFMXX several or in programs we're also we is our with

for collaborations additional competencies in We're as as regulatory goals deliver these near are We the that, proceeds to and for next early strengths set turning on for this our that for beyond. call milestones the alike ourselves including from we we give are building shareholders for value an the core update milestones continuing based months, eligible to the and well Angus? on to preclinical over patients build With key and have on financials quarter. achievements. and you to foundation term, on the few I'm for Angus to XXXX drive the

Angus Smith

with statements statements International or that IFRS, and is Therefore, prepared will I accordance numbers X Board the financial consolidated Slide otherwise all shown in X unless on sheet presentation. been euros. income Balance prepared are call, this noted, Adi. in and by highlights be you, statement presentation financial functional in Accounting and IASB. present the as Thank currency. which the Affimed's issued euros, are Standard in financial The consolidated have of company's will

mid-XXXX. for June and losses cash and Revenue XX, June was cash quarter Genentech our the ended revenue The quarter and gains denominated ended Net XX, XXXX. to the weighted finance XX, the €XX.X quarter expenses and increased million assumptions, to to XX, material. of €XX.X compared cost million quarter increased XX, predominantly million the procurement administrative XX, result €X.X for cost quarter with XX, will or Net June June dollars to plan per higher December decrease operations exchange per income June XXXX. largely €XXX.X cash share lower X% on development General of Net or €XXX.X during AFMXX quarter XXXX, anticipate ended XX% €X.X or June June of €X.X that activities of our ended and in quarter in XX, The in quarter expenses and million €X.XX on a June insurance in a to June common totaled finance XXXX, decreased XXXX, the XXXX, cash million associated of with equivalents and XXXX. ended programs, currency for as the loss ended share-based expense fluctuations Roivant million ended the R&D by the for the foreign due common ended predominantly quarter million trial and and shares operating Net Based ended and premiums. largely in XX, million was result for for common to operating the As due equivalents with cash June the to quarter million a with ended the or AFMXX June the was expenses relates the June compared ended €XX.X the XXXX. income from the Total share €XX.X costs to ended related collaborations. XXXX. of from for year. primarily €XX.X XXXX. between €XX.X million of U.S. XX, quarter XXXX, of XX, XX, used in to dollar for clinical compared June XXXX. XXXX, decrease of increase net assets June €X.X XXX.X current was was XXXX, XX, support €X.X into million from million the quarter for euro the million. million for ended is relates loss U.S. €X.XX The XX, compared in an number personnel income quarter payment outstanding the XXXX, the XX, million the €X.X we increase

to information Additional is of turn and the Affimed's I the be in results included will remarks. Exchange regarding June notes back will financial Commission. which in consolidated as for Adi filings the call XX, included these XXXX, U.S. of closing Adi? with statements the Securities now

Adi Hoess

a Thanks Yes. Angus. lot,

and a we updates with things focus key in now this programs year. continued to forward. our X, in and We're you. to Slide the and our are second can particular, take thank the forward our to supporting in continuing programs to best open Europe are for Indeed, like delivering for key in they As you to support, Operator? U.S. patients continuing all for Thank we half questions. move your families their meaningful do of the I'd efforts on our show who many advance on employees

Operator

Instructions]. [Operator

Graybosch We Securities. Daina have our SVB question with first from

Daina Graybosch

regulatory dose a two or FDA, talk on if chance prepare you about a to you've Maybe CDXXX whether more it's One, of would to AFMXX, lead their AFMXX or sort on -- about meeting you meeting a as the that second had wondering then can being the or molecule-specific further talk for regulatory more with question, future from reservations escalation And forward. feedback FDA can questions. AML-specific slow?

Adi Hoess

Yes, I Andreas. to Daina, thanks the for will questions. Andreas? hand over

Andreas Harstrick

your right? AFMXX was to XX, relating not sure, to I think to just first be Daina, question and

Daina Graybosch

sorry, XX, I'm I misspoke.

Andreas Harstrick

details strategic as we so discussions. lot have share we Okay. made said, about after cannot No, a with Yes. of We some discussions discussion FDA. these

about they to of interaction. are next know, was stated have It is our can this What has guidance. you intention the development FDA steps intention. there we question, our regulators. previously, for a NK the concerning that combination That with and are as is target. as we a CDXXX confidential in regulatory sticking we cells year, meeting forward this concerns though, AFMXX have specific with with a to As is to say, And second no

Daina Graybosch

Okay.

hasn't So you than to this happened that and a probably don't not to clarify, frame you're specific guiding meeting that -- for time other meeting yet, year?

Andreas Harstrick

Yes.

to we -- happened So it has and it this meeting intention yet. year, time frame, specific is guided obviously this will not our have a have but not to

Operator

with have We Securities. next Truist from question Devarakonda Srikripa our

Unidentified Analyst

the have Can NK a going cell question is companies? manufacturer? a NK What question you third-party This that affect third-party might Alex investors. considerations partnerships that how is with bit you're go on finalizing for at? about NK the manufacturing, metrics that on looking also see we A different And which into a lot from you Kripa. talk or about little challenges other

Adi Hoess

this for question cell on thanks NK product. Yes, the

stated we've manufacturing it, recently, number been addressing in quality NK itself. understand and as of to the a has manner let So call Affimed me is partner's the, what cell

best We -- number internal the cell that of -- established allows feel identify have products. of to we a terms us NK in assays have partners we where that

have out number we of a cell with there seen China, that good We innate independent in NK well engager, have an cell of almost products -- is source. synergize there that

partner innate no what able NK on that moving focusing of substantial cord progress terms in so substantially And choices a even recently to have have derived quantity. we now made is required a peripheral, but not engagers. a [indiscernible] manufacturing entertain also terms our to blood-derived study iPSC of provided, forward be to So cell so to in that be with but -- cell will have only in quality the registration-directed the been

agreement. of the have finalizing We the process in parties identified and business are such

Unidentified Analyst

one trial. after how the strategy remind development later then you're it? out And the for bar will the year. monotherapy about get what's Okay. duration this the Can you on AFMXX follow-up us line be monotherapy data remind you top also efficacy, thinking about us the And

Adi Hoess

Andreas. hand Yes, to I'll Andreas? over this

Andreas Harstrick

Yes.

looked -- So which this for X for similar There accelerated are received have PTCL drugs drugs all rate at the approval efficacy remarkably setting. XX% bars, in the again, that was X drugs, XX%. we the helps response to

which So terms FDA a around looking give is number. range what certain response we responses. months, responses us course, are will this concrete a were month, in trials you plus/minus in And in about guidance gives a rate. these for of of us for the guidance these Duration a duration of again never of X of

always a with And will good approval the say. will with think rail, reached review I a that issue. drugs what of us be state the accelerated provides your that pretty the So I X second have consistency question? I review all But data guide was would

Unidentified Analyst

It step year later was data top this with line following monotherapy. that next the readout

Andreas Harstrick

course, said, next course, discuss steps. the is data study. top of step into with we The -- the from we will the provide steps, agencies, enter as interactions regulatory to to we then, the next next primarily of FDA, with And line

should is be As said, this our intention registrational directed. so we -- study

And that. so regulators discussions the we have with about will

Unidentified Analyst

Congrats progress. on right. the All

Operator

next from Jefferies. Raycroft our Maury with question have We

Maurice Raycroft

AFMXX to this combo this you evidence partner into cell have when year the figured to would you regard registrational order move the need to to to potential bring sort NK in a directly combo of combo? to discuss And with what I one study? FDA going as in this later something a you partner on was with out ask or to hand well. manufacturing meet for that need FDA Is

Adi Hoess

to discussed. thanks, and we out of appreciate be this need Yes. then evaluated a can And there questions there that are so lot obviously, we for have question. that Maury, --

is position taken we have we're now gained substantial through that do. also consolidating amount to the partners we here is know-how have the a work discuss and know-how as through of FDA. composite what what our with own We a forward have and And move

you obviously the give detail in along then we're that we I is will that At what have, and the FDA, expecting Unfortunately, say with So resolution this feedback as their identified further in all later can then go share into cannot requirement. we're we which advanced our preparing moment, details. any meeting preparation, partner we that but with control this that on. the can already and us the minds, in a

Maurice Raycroft

That's it. helpful. Got

so have partner And that clarify sounds like or... you it Just to Is a identified then. fair?

Adi Hoess

Well, again, -- without we in we're the the business going into as is there detail, agreement. execution said, of

the principle when is confirming -- with we there we're field to the But time that discussed are partner have it. seen that we If is, multiple in some at that can I it have yes, fulfill whoever the that mentioned. partners, that requirements companies remains identified. So just be that out there finished

Maurice Raycroft

Got it.

Makes a wanted Okay. I AFMXX. ask question to sense. also And on

to So at see a have we that ESMO. you're going poster

whether expansion that what some can in that talk Just wanted could include if is about Or potentially one, you poster? update more to monotherapy on you clarify to that data be? going

Adi Hoess

Andreas, can take this you question?

Andreas Harstrick

Yes.

focus or cohort, -- we so escalation during think, XXX-milligram become the part, As a the which I poster presentation, in dose focus ESMO the additional then data will said, on the from mainly Adi escalation cohorts mainly has degree as available, the dose will now ESMO released the follow-up. will is on as the they data be part. from of sufficient And but expansion

Maurice Raycroft

it. Got

that Okay. And see quarter, combo for data how about we could I/O talk the can for update fourth much in you update? then the

Andreas Harstrick

study. Again, it's ongoing an

without have part study, dose atezolizumab X As escalation we Adi said, completed the DLTs. the

if II milligrams able, combination, confirm that recruiting actively XXX recommended we are in is We we'll this dose. be at the Phase also and

then the be open cohorts. to will able expansion We

likely that part. the data mainly we will towards the the dose from most this end So year, is have of the set escalation

Operator

Li from Watsek quest Cantor. next Our with

Li Watsek

the can this like seems are RPXD I just going what patients data learn within guess, at and up to patients set? I for later on cycles. X looking from guess, receive to dose, you're first, to it AFMXX you XX the year, And present that you data guess, combo, I have that the

be will the what about investors there. for talk just focus maybe So

Andreas Harstrick

mean will AACR said, patients on take patients. so can question. the Well, that this we part more I were year. as of will I we disclosure also the Again, have report earlier much course, And this we of

patients all Now have these will significantly longer follow-ups. a

we from of think a allow the will say, for really in which first, newly duration to, data have better the think I long recruited patients I let's estimate a XX course, follow-up, of significantly or addition will of so, responses, patients. response

I who discussion cycles. thing, other and multiple Adi have received we a as and X have X of lymphodepletions, now The said, lot about always there's patients know doing

feasibility there feasible which the also So approach, on we quite multiple this and safety will is a be of update a think lymphodepletions approach.

Li Watsek

And XXX and AFMXX, Okay. you since on just one first guess, I Got atezo completed, combination at it. cohort the then mgs. question the with

I have was wonder comment anything unexpected combination if in a just bit you can the observed therapeutic you study? can us the you sort a And safety little remind of on So side? also, And what there? range

Andreas Harstrick

year, XXX-milligram cohort update all we said, did granular not which the we we profile. of we which have We escalate dose-limiting completed to the will the as with up the of us toxicity, a milligrams. allowed towards see provide include the standard more will as And dose end said, data XXX much to a of atezo. a So safety

Li Watsek

one guess last just AFMXX. I on Okay.

here after just to Phase we I? can and data what escalation? Phase So And in the be plan, guess, then the the walk design terms would the you study, the sort when the can and of of escalation time of discuss the might I line the see us dose dose I you from just portion

Andreas Harstrick

areas the we made initially to strategic of So the decision focus on U.S. outside

for that it's enrollment a that escalation dose expect our difficult a know, beyond escalation with first AFMXX studies, soon And with you intention look combine is always as to at have refractory It see pharmacodynamically and as dose half half and dose And or we of first predict. as as will patients recommended study our of patient that, but guided is year, monotherapy allogeneic as we also then XXXX. cells in of to as Phase possible. as soon NK possible. -- next start AML, dose As II document, to to aims active for identify

So this for approach two-pronged will be treatment. the a AML

Operator

Bradley question next our have with Stifel. We Canino from

Bijan Mekoba

Brad This is Bijan Canino. on for

are For of intend points the to there finalized communicate what AFMXX And on a trial key upcoming prior the combo, some you the to other meeting FDA need to the with NK be that cell agency? pivotal are start? steps

Adi Hoess

Andreas, want that? do you to take

Andreas Harstrick

I also and Yes, chime if in needed. start, then you can can

So especially have and seen in to as combination it we is as patients, intention this AFMXX, to as this broadly unprecedented activity of our bring NK possible. with treatment lymphoma make Hodgkin cells in patients soon available

on our the FDA focus be will really the a an with enable development align NK agree AFMXX approval most fastest cell combination. that ideally of expedited to would the So discussions path or or in

accelerated these be of kind refractory expectations there would need believe, and the patients, of FDA. But using the development unmet the there? we of process. this the which will medical should very given And some trial lead activity be high that So FDA a the with what questions would approval address We the will be? path

Bijan Mekoba

that Okay. start like Perfect. the manufacturing, be pivotal prior et cetera? And need are there to trial other steps to finalized

Adi Hoess

know-how a earlier terms when the then to are believe manufacturing, we answers. as I of can have as behind Affimed this accumulate ready are in we that satisfying And for are soon have likely within understanding the we have what requirements meeting, the questions that in able either Well, lot of the can we disclose provide we And through outlined manufacturing. been granularity. we we companies provide to identified think

to or in and we And that quarters terms -- So testing preclinical remains with months this We've it it the moment loaded way, the data been are -- that And question then show in past active. nevertheless, basically manufacturing past we presentations available. when they after conferences the learning cells engagement in there quality that . substantial substantial cell confidence. We addressed, me with at have all we've NK the can released let there be AFMXX. is [indiscernible] is the put generate already or sawing, activity freeze cells and the are of

that good to there the the respective display of in sure we work invest make So a activity. that to part order is NK had cells

In different with cells from or non-Hodgkin rituximab. lymphoma, presented addition, particular, by seem there efficacy, combined that produce in data that we NK similar clinical either CARTXX clinical others very have learned cells are to in

the there of year available information is available in a hasn't time ago So a just that past in mean additional lot months. and accumulated been the

So that's is time learning partner on the with been creating at that as so That's how right have move together a and confidence Affimed meeting we FDA. prepared, and basically to and forward said. the we our bring now currently it part discussion the with

Operator

Yale Laidlaw Company. We have & Jen our next question from with

Yale Jen

of for combos, XX types this First, the give at and NK from terms in you've the so moment? AFMXX patients the far treated, you could breakdown tumor us a

Adi Hoess

Andreas?

Andreas Harstrick

Yes.

now. be give cannot non-Hodgkin initial the are seen XX Hodgkins. this also of We recruiting are as lymphoma. who detailed Hodgkin's numbers still disclosure. will have actively is already part as But the majority the you patients But we So patients lymphoma

Yale Jen

what one. DOR of greater the more opinion, monotherapy provide Great. will U.S. monotherapy in efficacy here and terms That's Okay. helpful. And what that the could a in bar the very follow be your will say and the to commercial XX is viability? performance, and the previous question the But And be? one minimum of

Adi Hoess

this? on you Andreas, want to do speculate

Andreas Harstrick

I mean I reiterate said. can No, I what only

X In the with precedences XX%, months. duration have XX%, of couple responses terms high a of response rates regulatory, XX%, of around the in we

this very and say, any population options discussions is internal cannot comment FDA. medical is patient will of benchmark, have though, then know, a Treatment we is needs. very limited. So would on commercial definitely I with I our, we this unmet high that aspects. are What very,

a threatened I treatment for by option basically patients So would death who immediately. think offer it are

Operator

our Berenberg. Shu with next from We question have Zhiqiang

Zhiqiang Shu

combo a have treated including I X you patient a these of about of bit sort terms to first been the wonder and I there. are of you around the if responses I safety post provide to cycles, wanted in willing one this I AACR. additional particular to here. if are guess efficacy and in wonder ask patients that XX NK receiving detail provide progression granularity of patient, Also more bit willing

Adi Hoess

excited to Yes. obviously this over remain will very positive in we here. not I recruitment but were are that surprised, obviously, good and of hand a about number Andreas we seeing but minute, very very positively

go experiences social you their with can where also people into this about media reporting are So therapy.

since such to that been -- that ACO, on was been there therapy. patients information So is has spread clearly good have amount a there so of brought

of July. XX now As we've we end additional and treated of have that said, patients were as recruited

in our indicate a very focused secure regarding Andreas? we've reporting Obviously, minds, are in rules for So organizers the order following been we of presentation the by this data, on to respective basically how slot. really prominent a demand population. this, high patient seeing

Andreas Harstrick

I add more. cannot significantly Yes.

As MD were of meeting have our towards data we collaboration investigators the update year. an from expecting scientific with Anderson of a the the in said, end to we at major

detailed remarks. on So before that the our have new any data more on meeting, disclosed cannot or we ongoing give we what beyond already patients patients the in

Zhiqiang Shu

to platform? the what And the your Can the maybe the follow-up a just a on measure business you extend you of potential quite talk development given you still there? partnerships in there thoughts Are near strategy. of future? looking And some are some differentiated Okay. about have

Adi Hoess

enter want not our programs. -- been At obviously, where we've on and we've what do are been on the on That's We've against foremost, achieve to most ourselves specifically continuous been we've partnerships. or business to we said focusing, and moment, X I execution valuing inbound we Yes. this of lot, have this we want comment really a receiving emphasis we've development. request invested before so

with in the dialogues, this. be in At XX, time, present attention XX now able have been ongoing half, and and same these update are to but also the we've we -- to we clinic continuously. pay progressing the particular So to second in

generating So we're value the by progressing programs.

I earlier Affimed should partner. pipeline. remain some with is moment, We funded, we're the until indeed, interest to number although mention good that here specific I of partnering in very up there programs and vague, an on decide a have of strategy proceed our -- appropriate have the so the may it we at want we with But well can -- remains identified to

Operator

our no would This everyone questions. our see of you concludes to may I today. disconnect. At your this concludes That [Operator we round the have now further and in questions. like for And first participation conference, time, thank Instructions]. call I

Affimed (AFMD) 11 Aug 222022 Q2 Earnings call transcript