December 31, 2020. In 2020, general and administrative expenses were 
largely comprised of personnel expenses of EUR6.3 million and legal, 
consulting and audit costs of EUR5.6 million. 
 
   Finance costs for the year ended December 31, 2020 were EUR6.6 million, 
compared to finance income of EUR15 thousand for the year ended December 
31, 2019. Finance costs for the year ended December 31, 2020 were 
largely comprised of foreign exchange losses related to assets 
denominated in U.S. dollars as a result of the weakening of the U.S. 
dollar compared to the Euro during the year. 
 
   Net loss for the year ended December 31, 2020 was EUR41.4 million, or 
EUR0.50 per common share compared with a net loss of EUR32.4 million, or 
EUR0.50 per common share, for the year ended December 31, 2019. 
 
   The weighted number of common shares outstanding for the year ended 
December 31, 2020 was 83.5 million. 
 
   Additional information regarding these results is included in the notes 
to the consolidated financial statements as of December 31, 2020 and 
"Item 5. Operating and Financial Review and Prospects," which will be 
included in Affimed's Annual Report on Form 20-F as filed with the U.S. 
Securities and Exchange Commission (SEC). 
 
   Note on International Financial Reporting Standards (IFRS) 
 
   Affimed prepares and reports consolidated financial statements and 
financial information in accordance with IFRS as issued by the 
International Accounting Standards Board. None of the financial 
statements were prepared in accordance with Generally Accepted 
Accounting Principles in the United States. Affimed maintains its books 
and records in Euro. 
 
   Conference Call and Webcast Information 
 
   Affimed will host a conference call and webcast today, April 15, 2021 at 
8:30 a.m. EDT to discuss fourth quarter, year-end 2020 financial results 
and recent corporate developments. The conference call will be available 
via phone and webcast. 
 
   To access the call, please dial +1 (646) 741-3167 for U.S. callers, or 
+44 (0) 2071 928338 for international callers, and reference passcode 
4271307 approximately 15 minutes prior to the call. 
 
   A live audio webcast of the conference call will be available in the 
"Webcasts" section on the "Investors" page of the Affimed website at 
https://www.affimed.com/investors/webcasts_cp/. A replay of the webcast 
will be accessible at the same link for 30 days following the call. 
 
   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 proprietary ROCK(R) platform enables a tumor-targeted approach 
to recognize and kill a range of hematologic and solid tumors, enabling 
a broad pipeline of wholly-owned and partnered single agent and 
combination therapy programs. The ROCK(R) platform predictably generates 
customized innate cell engager (ICE(R)) molecules, which use patients' 
immune cells to destroy tumor cells. This innovative approach enabled 
Affimed to become the first company with a clinical-stage ICE(R). 
Headquartered in Heidelberg, Germany, with offices in New York, NY, 
Affimed is led by an experienced team of biotechnology and 
pharmaceutical leaders united by a 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. 
 
   Forward-Looking Statements 
 
   This press release contains forward-looking statements. All statements 
other than statements of historical fact are forward-looking statements, 
which are often indicated by terms such as "anticipate," "believe," 
"could," "estimate," "expect," "goal," "intend," "look forward to," "may, 
" "plan," "potential," "predict," "project," "should," "will," "would" 
and similar expressions. Forward-looking statements appear in a number 
of places throughout this release and include statements regarding our 
intentions, beliefs, projections, outlook, analyses and current 
expectations concerning, among other things, the potential of AFM13, 
AFM24, and our other product candidates, the value of our ROCK(R) 
platform, our ongoing and planned preclinical development and clinical 
trials, our collaborations and development of our products in 
combination with other therapies, the timing of and our ability to make 
regulatory filings and obtain and maintain regulatory approvals for our 
product candidates, our intellectual property position, our 
collaboration activities, our ability to develop commercial functions, 
clinical trial data, our results of operations, cash needs, financial 
condition, liquidity, prospects, future transactions, growth and 
strategies, the industry in which we operate, the trends that may affect 
the industry or us, impacts of the COVID-19 pandemic, the benefits to 
Affimed of orphan drug designation and the risks, uncertainties and 
other factors described under the heading "Risk Factors" in Affimed's 
filings with the SEC. Given these risks, uncertainties, and other 
factors, you should not place undue reliance on these forward-looking 
statements, and we assume no obligation to update these forward-looking 
statements, even if new information becomes available in the future. 
 
   Investor Relations Contact 
 
   Alexander Fudukidis 
 
   Director, Head of Investor Relations 
 
   E-Mail: a.fudukidis@affimed.com 
https://www.globenewswire.com/Tracker?data=a8OMGF6mYLr2ZERwyJ1SuxNROoYMgrTpVxVGLF4zhhPVQ_TJJAvqIfI0uGWNyfSf3pjFGwfXyv4EhrlUliu6lcZfmxxJNzRf0GwNwi8kGW4= 
 
 
   Tel.: +1 (917) 436-8102 
 
   Affimed N.V. 
 
   Consolidated statements of comprehensive income / (loss) (in EUR 
thousand) 
 
 
 
 
                                                           2020      2019      2018 
 
  Revenue                                                  28,360    21,391    23,735 
Other income - net                                            626       290     1,515 
Research and development expenses                        (49,989)  (43,791)  (35,148) 
General and administrative expenses                      (13,715)  (10,266)   (9,638) 
                                                         --------  --------  -------- 
 
  Operating loss                                         (34,718)  (32,376)  (19,536) 
Finance income / (costs) - net                            (6,647)        15        60 
                                                         --------  --------  -------- 
 
  Loss before tax                                        (41,365)  (32,361)  (19,476) 
Income taxes                                                  (1)       (4)       (1) 
                                                         --------  --------  -------- 
 
  Loss for the period                                    (41,366)  (32,365)  (19,477) 
                                                         ========  ========  ======== 
 
  Other comprehensive income / (loss) 
Items that will not be reclassified to profit or loss 
 Equity investments at fair value OCI - net change 
 in 
fair value                                                  (242)     (632)   (4,731) 
                                                         --------  --------  -------- 
 
  Other comprehensive income / (loss)                       (242)     (632)   (4,731) 
                                                         --------  --------  -------- 
 
  Total comprehensive Loss                               (41,608)  (32,997)  (24,208) 
                                                         ========  ========  ======== 
 
 
 
 
 
 
 
 
Earnings / (loss) per share in EUR per share (undiluted 
 = diluted)                                                    (0.50)      (0.50)      (0.32) 
Weighted number of common shares outstanding               83,471,559  64,242,396  60,514,407 
 
   Affimed N.V. 
 
   Consolidated statements of financial position (in EUR thousand) 
 
 
 
 
 
  ASSETS                              December 31, 2020  December 31, 2019 
Non-current assets 
Intangible assets                                 1,718                137 
Leasehold improvements and equipment              2,226              2,291 
Long term financial assets                       20,042              3,193 
Right-of-use assets                                 940                824 
                                      -----------------  ----------------- 
                                                 24,926              6,445 
Current assets 
Cash and cash equivalents                       146,854             95,234 
Financial assets                                      0              8,902 
Trade and other receivables                       2,439              1,482 
Inventories                                         246                296 
Other assets                                      1,260                  0 
                                      -----------------  ----------------- 
                                                150,799            105,914 
TOTAL ASSETS                                    175,725            112,359 
EQUITY AND LIABILITIES 
Equity 
Issued capital                                      983                762 
Capital reserves                                345,164            270,451 
Fair value reserves                               1,720              1,962 
Accumulated deficit                           (275,874)          (234,508) 
                                      -----------------  ----------------- 
Total equity                                     71,993             38,667 
Non-current liabilities 
Borrowings                                          231                278 
Contract liabilities                             35,992             37,961 
Lease liabilities                                   482                272 
                                      -----------------  ----------------- 
Total non-current liabilities                    36,705             38,511 
Current liabilities 

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April 15, 2021 06:30 ET (10:30 GMT)