Affimed in the spotlight (part IX)
New financing and short/long-term implications
Right after announcing impressive data at AACR (details here), Affimed announced a financing. The company is issuing 25.9M shares (including overallotment) at $4/share for net proceeds of approximately $97M. This should be about a year’s cash burn. The news was disappointing given that investors took a 21% dilution to extend cash runway for 1 year.
Cell…