Shares of German immuno-oncology company Affimed Therapeutics (NASDAQ: AFMD) were down a little more than 15% on Thursday afternoon. The clinical-stage biotech's stock closed at $2.45 on Wednesday before opening at $2.37 on Thursday. It fell to $2.0801, the stock's 52-week low, in the midafternoon. The stock's 52-week high is $7.35, and it's down more than 61% so far this year.

There was no big news from the biotech company, but clinical-stage biotechs are considered riskier stocks than most, and with the markets dropping in general on Thursday, Affimed's shares took a hit.

Affimed reported earnings on Tuesday, so that news might have been fresh on investors' minds as well. It reported collaboration revenue of $15.41 million in the quarter, up from $9 in the same quarter a year ago. The company reported a loss of $16.6 million in the quarter, compared to $17.68 million in the third quarter of 2021 and an earnings per share loss of $0.11 compared to an EPS loss of $0.14 in the third quarter of 2021.

Continue reading

Source Fool.com