Affimed shares the reasons behind its raise

Despite the market reaction not reflecting the positive data presented by Affimed at AACR, the biotech still pressed forward with a follow-on due to high institutional demand supported by a new anchor investor, and the desire to avoid being pressed into giving up more value by partnering from a weakened financial position.

The experience of Affimed N.V. (NASDAQ:AFMD) has been a common one in this bear market: on the back of a positive catalyst, rather than seeing an influx of buyers boosting the share price, investors were using the bump in trading volume as a liquidity event to sell shares...