0001104659-22-088959 | 6-K | XBRL Viewer

Print Document View Excel Document

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2022
Document Information [Line Items]
Document Type	6-K
Document Period End Date	Jun. 30, 2022
Entity File Number	001-36619
Entity Registrant Name	Affimed N.V.
Entity Central Index Key	0001608390
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Unaudited consolidated interim statements of comprehensive income (loss) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Unaudited consolidated interim statements of comprehensive income / (loss)
Revenue	€ 7,301	€ 9,707	€ 15,307	€ 21,366
Other income - net	240	332	524	479
Research and development expenses	(20,829)	(21,800)	(39,208)	(33,205)
General and administrative expenses	(8,374)	(5,439)	(15,419)	(9,925)
Operating loss	(21,662)	(17,200)	(38,796)	(21,285)
Finance income / (costs) - net	2,253	(1,552)	2,724	3,947
Loss before tax	(19,409)	(18,752)	(36,072)	(17,338)
Income taxes	0	0	(2)	(2)
Loss for the period	(19,409)	(18,752)	(36,074)	(17,340)
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	(599)	(4,097)	(6,773)	(5,349)
Other comprehensive income / (loss)	(599)	(4,097)	(6,773)	(5,349)
Total comprehensive income / (loss)	€ (20,008)	€ (22,849)	€ (42,847)	€ (22,689)
Basic earnings / (loss) per share in per share	€ (0.13)	€ (0.16)	€ (0.27)	€ (0.15)
Diluted earnings / (loss) per share in per share (undiluted = diluted)	€ (0.13)	€ (0.16)	€ (0.27)	€ (0.15)
Weighted number of common shares outstanding	147,326,291	119,645,207	135,385,254	117,924,831

Consolidated interim statements of financial position - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Non-current assets
Intangible assets	€ 1,553	€ 1,607
Leasehold improvements and equipment	3,684	3,814
Long-term financial assets	0	12,348
Right-of-use assets	877	972
Total non-current assets	6,114	18,741
Current assets
Cash and cash equivalents	237,232	197,630
Trade and other receivables	5,524	4,809
Inventories	571	421
Assets held for sale	4,057	0
Other assets and prepaid expenses	7,407	3,534
Total current assets	254,791	206,394
TOTAL ASSETS	260,905	225,135
Equity
Issued capital	1,493	1,234
Capital reserves	573,544	474,087
Fair value reserves	(9,927)	(5,973)
Accumulated deficit	(372,290)	(333,397)
Total equity	192,820	135,951
Non current liabilities
Borrowings	14,368	17,060
Contract liabilities	1,392	7,209
Lease liabilities	317	368
Total non-current liabilities	16,077	24,637
Current liabilities
Trade and other payables	12,760	18,860
Borrowings	3,498	580
Lease liabilities	613	683
Contract liabilities	35,137	44,424
Total current liabilities	52,008	64,547
TOTAL EQUITY AND LIABILITIES	€ 260,905	€ 225,135

Unaudited consolidated interim statements of cash flows - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flow from operating activities
Income / (loss) for the period	€ (36,074)	€ (17,340)
Adjustments for the period:
Income taxes	2	2
Depreciation and amortization	703	624
Share-based payments	9,872	4,695
Finance income / costs - net	(2,724)	(3,947)
Total	(28,221)	(15,966)
Change in trade and other receivables	(715)	(1,324)
Change in inventories	(150)	(366)
Change in other assets and prepaid expenses	(3,873)	924
Change in trade, other payables, provisions and contract liabilities	(21,372)	(16,262)
Sub-total	(54,331)	(32,994)
Interest received	82	0
Paid interest	(653)	(377)
Paid income tax	(2)	(2)
Net cash used in operating activities	(54,904)	(33,373)
Cash flow from investing activities
Purchase of intangible assets	0	(5)
Purchase of leasehold improvements and equipment	(194)	(1,502)
Cash received from the sale of financial assets	1,518	0
Net cash used for / generated from investing activities	1,324	(1,507)
Cash flow from financing activities
Proceeds from issue of common shares, including exercise of share-based payment awards	95,907	103,242
Transaction costs related to issue of common shares	(5,894)	(6,447)
Proceeds from borrowings	0	10,000
Transaction costs related to borrowings	0	(236)
Repayment of lease liabilities	(352)	(228)
Repayment of borrowings	(47)	(46)
Cash flow from financing activities	89,614	106,285
Exchange-rate related changes of cash and cash equivalents	3,568	4,417
Net changes to cash and cash equivalents	36,034	71,405
Cash and cash equivalents at the beginning of the period	197,630	146,854
Cash and cash equivalents at the end of the period	€ 237,232	€ 222,676

Unaudited consolidated interim statements of changes in equity - EUR (€) € in Thousands	Issued capital	Capital reserves	Fair Value reserves	Accumulated deficit	Total
Balance beginning at Dec. 31, 2020	€ 983	€ 345,164	€ 1,720	€ (275,874)	€ 71,993
Issue of common shares	205	94,135			94,340
Exercise of share-based payment awards	9	2,531			2,540
Equity-settled share-based payment awards		4,695			4,695
Loss for the period				(17,340)	(17,340)
Other comprehensive loss			(5,349)		(5,349)
Balance ending at Jun. 30, 2021	1,197	446,525	(3,629)	(293,214)	150,879
Balance beginning at Dec. 31, 2021	1,234	474,087	(5,973)	(333,397)	135,951
Issue of common shares	259	89,484			89,743
Exercise of share-based payment awards		101			101
Equity-settled share-based payment awards		9,872			9,872
Transfer of cumulative loss on sale of financial assets			2,819	(2,819)	0
Loss for the period				(36,074)	(36,074)
Other comprehensive loss			(6,773)		(6,773)
Balance ending at Jun. 30, 2022	€ 1,493	€ 573,544	€ (9,927)	€ (372,290)	€ 192,820

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2021-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2021-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2021-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2021-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2021-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2021-03-24

+ Details

Reporting entity

6 Months Ended

Jun. 30, 2022

Reporting entity

Reporting entity

1. Reporting entity

Affimed N.V. is a Dutch company with limited liability (naamloze vennootschap) and has its corporate seat in Amsterdam, the Netherlands, registered with the trade register of the Chamber of Commerce (handelsregister van de Kamer van Koophandel) under number 60673389.

The condensed consolidated interim financial statements are comprised of Affimed N.V. and its controlled (and wholly owned) subsidiaries Affimed GmbH, Heidelberg, Germany, AbCheck s.r.o., Plzen, Czech Republic, and Affimed Inc., Delaware, USA (collectively “Affimed”, the “Company” or the “Group”).

Affimed is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies. The Group’s product candidates are developed in the field of immuno-oncology, which represents an innovative approach to cancer treatment that seeks to harness the body’s own immune defenses to fight tumor cells. Affimed has its own research and development programs, strategic collaborations and service contracts, where the Group is performing research services for third parties.

Basis of preparation and changes to Group's accounting policies

6 Months Ended

Jun. 30, 2022

Basis of preparation and changes to Group's accounting policies

Basis of preparation and changes to Group's accounting policies

2. Basis of preparation and changes to Group’s accounting policies

Statement of compliance

The condensed consolidated interim financial statements (referred to as “interim financial statements”) for the three and six months ended June 30, 2022 and 2021 have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim financial statements do not include all the information and disclosures required in the consolidated annual financial statements and should be read in conjunction with Affimed N.V.’s annual consolidated financial statements as of December 31, 2021.

The interim financial statements were authorized for issuance by the management board of the Company (Management Board) on August 11, 2022.

Loss per share

Loss per common share is calculated by dividing the loss for the period by the weighted average number of common shares outstanding during the period.

As of June 30, 2022, the Group has granted 18,020,320 options and warrants in connection with share-based payment programs (see note 10) and certain loan agreements, which could potentially have a dilutive effect but were excluded from the diluted weighted average number of ordinary shares calculation because their effect would have been anti-dilutive.

Critical judgments and accounting estimates

The preparation of the interim financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

In preparing these interim financial statements, the critical judgments made by management in applying the Company’s accounting policies were the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2021.

Functional and presentation currency

These interim financial statements are presented in Euro. The functional currency of the Group’s subsidiaries is also the Euro. All financial information presented in Euro has been rounded to the nearest thousand (abbreviated €) or million (abbreviated € million).

Significant accounting policies

The accounting policies applied by the Group in these interim financial statements are the same as those applied by the Group in its consolidated financial statements as of and for the year ended December 31, 2021.

New standards and amendments to standards

The following new standards and amendments to standards have not been applied in preparing these interim financial statements.

Standard/interpretation		Effective Date¹

Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies		January 1, 2023
Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates		January 1, 2023
Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction		January 1, 2023

¹Shall apply for periods beginning on or after the date shown in the effective date column.

The amended standards are not expected to have a significant effect on the interim financial statements of the Group.

Fair Value Measurement

All assets and liabilities for which fair value is recognized in the interim financial statements are classified in accordance with the following fair value hierarchy, based on the lowest level input parameter that is significant on the whole for fair value measurement:

●	Level 1 – Prices for identical assets or liabilities quoted in active markets (non-adjusted);

●	Level 2 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market; and

●	Level 3 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market.

The carrying amount of all trade and other receivables, other assets and prepaid expenses, certificates of deposit, cash and cash equivalents, trade and other payables and loans is a reasonable approximation of the fair value and, therefore, information about the fair values of those financial instruments has not been disclosed. The measurement of the fair value of preferred and common shares in other companies held by the group is based on level 1 and 3 inputs (see notes 5 and 6). The Group recognises transfers between levels of the fair value hierarchy as at the date at which the change has occurred.

Revenue

6 Months Ended

Jun. 30, 2022

Revenue

Revenue

3. Revenue

Collaboration with Genentech Inc.

In August 2018, Affimed entered into a strategic collaboration agreement with Genentech Inc. (Genentech), headquartered in South San Francisco, USA. Under the terms of the agreement, Affimed is providing services related to the development of novel NK cell engager-based immunotherapeutics to treat multiple cancers. The Genentech agreement became effective at the beginning of October 2018. Under the terms of the agreement, Affimed received $96.0 million (€83.2 million) in initial upfront and committed funding on October 31, 2018.

The Group recognized €3.3 million and €7.3 million as revenue during the three and six months ended June 30, 2022 (2021: €3.6 million and €12.0 million). As of June 30, 2022, the Group held contract liabilities of €13.0 million (December 31, 2021: €20.2 million), which will be recognized as revenue in subsequent periods as services are provided.

Under the terms of the agreement, Affimed is eligible to receive up to an additional $5.0 billion over time, including payments upon achievement of specified development, regulatory and commercial milestones. Affimed is also eligible to receive royalties on any potential sales.

Collaboration with Roivant Sciences Ltd.

On November 9, 2020, Affimed and Pharmavant 6 GmbH, a subsidiary of Roivant Sciences Ltd. (Roivant), announced a strategic collaboration agreement which grants Roivant a license to the preclinical molecule AFM32. Under the terms of the agreement, Affimed received $60 million in upfront consideration, comprised of $40 million in cash and pre-funded research and development funding, and $20 million of common shares in Roivant. Affimed is eligible to receive additional proceeds in the form of option fees contingent on the commencement of additional programs contemplated under the agreement. The Company is eligible to receive up to an additional $2 billion in milestones over time upon achievement of specified development, regulatory and commercial milestones, as well as tiered royalties on net sales.

The Group recognized €4.0 million and €7.9 million as revenue during the three and six months ended June 30, 2022 (2021: €5.9 million and €8.9 million). As of June 30, 2022, the Group held contract liabilities of €23.4 million (December 31, 2021: €31.3 million), which will be recognized as revenue in subsequent periods as services are provided.

Research service agreements

The Group has entered into certain research service agreements. These research service agreements provide for non-refundable upfront technology access research funding or capacity reservation fees and milestone payments. The Group recognized €0.0 million and €0.2 million as revenue in the three and six months ended June 30, 2022 (2021: €0.2 million and €0.5 million).

Contract balances

The following table provides information about receivables and contract liabilities from contracts with customers.


	June 30, 2022	December 31, 2021

Receivables	35	150
Contract liabilities	36,529	51,633

An amount of €7.3 million and €15.3 million recognized in contract liabilities at the beginning of the period has been recognized as revenue during the three and six months ended June 30, 2022.

The remaining performance obligations as of June 30, 2022 are approximately €36.5 million and are expected to be largely recognized as revenue over the next 12 months (€35.1 million), with a smaller portion being realized the 12 months thereafter (€1.4 million).

Disaggregation of revenue


	Three months	Three months	Six months	Six months
	ended	ended	ended	ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Geographic information
Revenue:
Germany	14	222	151	458
USA	7,287	9,485	15,156	20,908
	7,301	9,707	15,307	21,366


	Three months	Three months	Six months	Six months
	ended	ended	ended	ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Major service lines:
Collaboration revenue	7,284	9,485	15,153	20,888
Service revenue	17	222	154	478
	7,301	9,707	15,307	21,366


	Three months ended	Three months ended	Six months ended	Six months ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Timing on revenue recognition:
Point in time	0	120	0	180
Over time	7,301	9,587	15,307	21,186
	7,301	9,707	15,307	21,366

Finance income and finance costs

6 Months Ended

Jun. 30, 2022

Finance income and finance costs

Finance income and finance costs

4. Finance income and finance costs


	Three months ended	Three months ended	Six months ended	Six months ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Interest SVB Loan Agreement	(381)	(208)	(759)	(281)
Foreign exchange differences	2,653	(1,209)	3,568	4,413
Other finance income/finance costs - net	(19)	(135)	(85)	(185)
	2,253	(1,552)	2,724	3,947

Assets held for sale

6 Months Ended

Jun. 30, 2022

Assets held for sale

Assets held for sale

5. Assets held for sale

The Group holds common shares in Roivant and made a strategic decision in June 2022 to dispose of this investment in tranches within the next 12 months. During the three months ended June 30, 2022, Affimed sold 352,041 of these shares (representing 25% of the total shares held) at an average selling price of €4.36 ($4.57) resulting in net proceeds of €1.5 million. The cumulated loss on sale of €2.8 million was reclassified within equity from the fair value reserve to the accumulated deficit. The quoted market price for Roivant’s common shares declined in the three months ended June 30, 2022, resulting in a decline in the fair value of €0.6 million recognized in other comprehensive income. As of June 30, 2022, the Group’s investment in Roivant had a fair value of €4.1 million.

Long- term financial assets

6 Months Ended

Jun. 30, 2022

Long- term financial assets

Long- term financial assets

6. Long- term financial assets

The Group holds preferred shares in Amphivena, which are currently recognized at their fair value of nil. The impairment of the asset was recognized in 2021 based on the decision made by the board of Amphivena to wind down the company. Based on current information, we continue to estimate that the fair value remains at nil (December 31, 2021: nil).

As of December 31, 2021, the long-term financial assets included the Group’s investment in Roivant at its fair value of €12.3 million. The common shares held in Roivant have been reclassified as assets held for sale (refer to note 5) as part of a strategic decision taken in June 2022 to sell the shares.

Trade and other receivables

6 Months Ended

Jun. 30, 2022

Trade and other receivables

Trade and other receivables

7. Trade and other receivables

The trade receivables as of June 30, 2022 were €35 (December 31, 2021: €150). These trade receivables are all due in the short-term, do not bear interest and are not impaired. Other receivables are all due within the short-term and mainly comprise value-added tax receivables of €4.5 million (December 31, 2021: €2.7 million).

Other assets and prepaid expenses

6 Months Ended

Jun. 30, 2022

Other assets and prepaid expenses

Other assets and prepaid expenses

8. Other assets and prepaid expenses

The other assets and prepaid expenses as of June 30, 2022 of €7.4 million (December 31, 2021: €3.5 million) are short-term in nature, do not bear interest and are not impaired. The other assets and prepaid expenses mainly comprise a prepayment of €2.1 million (December 31, 2021: €2.9 million) for the reservation of manufacturing capacity, €1.7 million (December 31, 2021: €0 million) as prepayment for manufacturing activities and a Directors and Officers’ liability insurance premium of €1.6 million (December 31, 2021: €0 million).

Equity

6 Months Ended

Jun. 30, 2022

Equity

Equity

9. Equity

As of June 30, 2022, the share capital of €1,493 (December 31, 2021: €1,234) is comprised of 149,339,335 (December 31, 2021: 123,419,772) common shares with a par value of €0.01 per share.

In November 2021, the Company entered into an agreement for a new at-the-market (“ATM”) program providing for the sales over time of up to $100 million of its common shares.

On April 18, 2022, the Company closed its public offering of 22,500,000 common shares, at the public offering price of $4.00 per share. The exercise of the underwriters’ option to purchase over-allotment shares brought the total number of common shares sold by Affimed to 25,875,000. The public offering generated net proceeds of €89.8 million ($97.1 million), after deducting €5.9 million ($6.4 million) in underwriting commissions and other offering expenses.

Share-based payments

6 Months Ended

Jun. 30, 2022

Share-based payments

Share-based payments

10. Share-based payments

In 2014, an equity-settled share-based payment program was established by Affimed N.V. (ESOP 2014). Under this program, the Company granted awards to certain members of the Management Board, the supervisory board of the Company (Supervisory Board), non-employee consultants and employees.

Share-based payments with service condition

The majority of the awards vest in instalments over three years and can be exercised up to 10 years after the grant date. The Group granted 274,500 and 4,557,100 awards in the three and six months ended June 30, 2022 to employees, members of the Management Board and members of the Supervisory Board. Fair value of the awards at grant date in the three and six months ended June 30, 2022 amounts to €0.8 million ($0.8 million) and €13.4 million ($15.0 million). 13,926 and 99,591 ESOP 2014 awards were cancelled or forfeited and 18,994 and 43,440 options were exercised at a weighted-average share price of $2.26 and $2.52 during the three and six months ended June 30, 2022. 15,089,070 (December 31, 2021: 10,675,001) ESOP 2014 options were outstanding, and 7,313,165 awards (December 31, 2021: 5,422,591) had vested. The options outstanding as of June 30, 2022 had an exercise price in the range of $1.30 to $13.47 and a weighted average remaining contractual life of 7.9 years (December 31, 2021: 7.7 years) and a weighted average exercise price of $4.97.

Share-based payments with market condition

During the three and six months ended June 30, 2022, the Company issued 1,500,000 and 2,825,000 options, respectively, with market-based performance conditions to members of the Management Board and employees. Each grant consists of three tranches, whereby one-third of the total grant will vest when the volume-weighted average share price over the preceding thirty trading days reaches $12.00, $15.00, and $18.00, respectively. Except with respect to a change of control, these options shall not vest before the first anniversary of the grant date. Fair value of the awards at grant date in the three and six months ended June 30, 2022 amounts to €1.6 million ($1.8 million) and €2.9 million ($3.2 million) and the contractual lifetime of the options is two years. Any unvested awards on the date that is two years following the grant date will be cancelled.

Share-based payment expense

In the three and six months ended June 30, 2022, compensation expense of €5,625 and €9,872 was recognized affecting research and development expenses (€2,889 and €5,194) and general and administrative expenses (€2,736 and €4,678). In the three and six months ended June 30, 2021, compensation expense of €3,586 and €4,695 was recognized affecting research and development expenses (€1,810 and €2,279) and general and administrative expenses (€1,776 and €2,416).

Fair value measurement

The fair value of options with service conditions was determined using the Black-Scholes-Merton valuation model. The significant inputs into the valuation model are as follows (weighted average):


	June 30, 2022			June 30, 2021
Fair value at grant date	$	3.30		$	6.78
Share price at grant date	$	4.45		$	8.48
Exercise price	$	4.45		$	8.48
Expected volatility		90	%		95	%
Expected life		5.87			5.86
Expected dividends		0.00			0.00
Risk-free interest rate		2.22	%		1.12	%

The fair value of options with market conditions was determined using a Monte Carlo simulation. The significant inputs into the valuation model are as follows (weighted average):


	June 30, 2022
Fair value at grant date	$	1.13
Share price at grant date	$	4.58
Exercise price	$	4.58
Expected volatility		70	%
Expected life		2.00
Expected dividends		0.00
Risk-free interest rate		2.41	%

Expected volatility is estimated based on the observed daily share price returns of Affimed measured over a historic period equal to the expected life of the awards.

The risk-free interest rates are based on the yield to maturity of U.S. Treasury strips (as best available indication for risk-free rates), for a term equal to the expected life, as measured as of the Grant Date.

Borrowings

6 Months Ended

Jun. 30, 2022

Borrowings.

Borrowings

11. Borrowings

Silicon Valley Bank

In January 2021, the Group entered into a new loan agreement with Silicon Valley Bank German Branch (SVB) which provides Affimed with up to €25 million in term loans in three tranches: €10 million available at closing, an additional €7.5 million upon the achievement of certain conditions, including milestones related to Affimed’s pipeline and market capitalization, and a third tranche of €7.5 million upon the achievement of certain additional conditions related to Affimed’s pipeline and liquidity. The first tranche of €10 million was drawn in February 2021 and the second tranche of €7.5 million in December 2021. Pursuant to the terms of the agreement, the loans will bear interest at the greater of the European Central Bank Base Rate and 0%, plus 5.5%, and Affimed is entitled to make interest only payments through December 1, 2022, or June 1, 2023 if Affimed draws on the third tranche of the loans. The loans will mature at the end of November 2025. As of June 30, 2022, the fair value of the liability did not differ significantly from its carrying amount (€17.7 million).

The loan is secured by a pledge of 100% of the Group’s ownership interest in Affimed GmbH, all intercompany claims owed to Affimed N.V. by its subsidiaries, and collateral agreements for all bank accounts, inventory, trade receivables and other receivables of Affimed N.V. and Affimed GmbH recognized in the interim financial statements.

UniCredit Leasing CZ

In April 2019, the Group entered into a loan agreement with UniCredit Leasing CZ for €562. After an initial instalment of €127 in the second quarter of 2019, repayment is effected in monthly instalments of €8 until May 2024. As of June 30, 2022, an amount of €184 (December 31, 2021: €231) was outstanding, of which €95 was classified as current liabilities (December 31, 2021: €94). As of June 30, 2022, the fair value of the liability did not differ significantly from its carrying amount.

Related parties

6 Months Ended

Jun. 30, 2022

Related parties

Related parties

12. Related parties

The supervisory directors of Affimed N.V. received compensation for their services on the Supervisory Board of €107 and €216 (€94 and €192) in the three and six months ended June 30, 2022 (2021), remuneration of the Management Board amounted to €936 and €1,829 (€876 and €1,753).

The Company recognized share-based payment expenses of €719 and €998 (€242 and €350) for supervisory directors and €1,816 and €3,389 (€1,624 and €2,271) for managing directors in the three and six months ended June 30, 2022 (2021).

The following table provides the total amounts of outstanding balances for supervisory board compensation and expense reimbursement related to key management personnel:


	Outstanding balances
	June 30,	December 31,
	2022	2021
Adi Hoess	0	5
Thomas Hecht	20	19
Mathieu Simon	10	8
Ferdinand Verdonck ¹	0	(1)
Ulrich Grau	16	16
Bernhard Ehmer	14	20
Harry Welten	9	10
Annalisa Jenkins	9	9
Uta Kemmerich-Keil	16	19

¹ Mr. Verdonck left the Supervisory Board in June 2021.

Subsequent events

6 Months Ended

Jun. 30, 2022

Subsequent events

Subsequent events

13. Subsequent events

Subsequent to June 30, 2022 and through August 5, 2022, an additional 359,306 shares of Roivant held by Affimed were sold with total gross proceeds of $1.6 million.

Basis of preparation and changes to Group's accounting policies (Policies)

6 Months Ended

Jun. 30, 2022

Disclosure of initial application of standards or interpretations [line items]

Statement of compliance

Statement of compliance

The interim financial statements were authorized for issuance by the management board of the Company (Management Board) on August 11, 2022.

Loss per share

Loss per share

Loss per common share is calculated by dividing the loss for the period by the weighted average number of common shares outstanding during the period.

Critical judgments and accounting estimates

Critical judgments and accounting estimates

Functional and presentation currency

Functional and presentation currency

Significant accounting policies

Significant accounting policies

New standards and amendments to standards

New standards and amendments to standards

The following new standards and amendments to standards have not been applied in preparing these interim financial statements.

Standard/interpretation		Effective Date¹

Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies		January 1, 2023
Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates		January 1, 2023
Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction		January 1, 2023

¹Shall apply for periods beginning on or after the date shown in the effective date column.

The amended standards are not expected to have a significant effect on the interim financial statements of the Group.

Fair Value Measurement

Fair Value Measurement

●	Level 1 – Prices for identical assets or liabilities quoted in active markets (non-adjusted);

●	Level 2 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market; and

●	Level 3 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market.

Basis of preparation and changes to Group's accounting policies (Tables)

6 Months Ended

Jun. 30, 2022

Basis of preparation and changes to Group's accounting policies

Schedule of new standards and amendments to standards

Standard/interpretation		Effective Date¹

Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies		January 1, 2023
Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates		January 1, 2023
Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction		January 1, 2023

Revenue (Tables)

6 Months Ended

Jun. 30, 2022

Revenue

Schedule of receivables and contract liabilities from contracts with customers


	June 30, 2022	December 31, 2021

Receivables	35	150
Contract liabilities	36,529	51,633

Schedule of disaggregation of revenue


	Three months	Three months	Six months	Six months
	ended	ended	ended	ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Geographic information
Revenue:
Germany	14	222	151	458
USA	7,287	9,485	15,156	20,908
	7,301	9,707	15,307	21,366


	Three months	Three months	Six months	Six months
	ended	ended	ended	ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Major service lines:
Collaboration revenue	7,284	9,485	15,153	20,888
Service revenue	17	222	154	478
	7,301	9,707	15,307	21,366


	Three months ended	Three months ended	Six months ended	Six months ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Timing on revenue recognition:
Point in time	0	120	0	180
Over time	7,301	9,587	15,307	21,186
	7,301	9,707	15,307	21,366

Finance income and finance costs (Tables)

6 Months Ended

Jun. 30, 2022

Finance income and finance costs

Schedule of finance income and finance costs


	Three months ended	Three months ended	Six months ended	Six months ended
	June 30, 2022	June 30, 2021	June 30, 2022	June 30, 2021
Interest SVB Loan Agreement	(381)	(208)	(759)	(281)
Foreign exchange differences	2,653	(1,209)	3,568	4,413
Other finance income/finance costs - net	(19)	(135)	(85)	(185)
	2,253	(1,552)	2,724	3,947

Share-based payments (Tables)

6 Months Ended

Jun. 30, 2022

Share-based payments with service condition

Disclosure of terms and conditions of share-based payment arrangement [line items]

Assumptions of options granted


	June 30, 2022			June 30, 2021
Fair value at grant date	$	3.30		$	6.78
Share price at grant date	$	4.45		$	8.48
Exercise price	$	4.45		$	8.48
Expected volatility		90	%		95	%
Expected life		5.87			5.86
Expected dividends		0.00			0.00
Risk-free interest rate		2.22	%		1.12	%

Share-based payments with market condition

Disclosure of terms and conditions of share-based payment arrangement [line items]

Assumptions of options granted


	June 30, 2022
Fair value at grant date	$	1.13
Share price at grant date	$	4.58
Exercise price	$	4.58
Expected volatility		70	%
Expected life		2.00
Expected dividends		0.00
Risk-free interest rate		2.41	%

Related parties (Tables)

6 Months Ended

Jun. 30, 2022


	Outstanding balances
	June 30,	December 31,
	2022	2021
Adi Hoess	0	5
Thomas Hecht	20	19
Mathieu Simon	10	8
Ferdinand Verdonck ¹	0	(1)
Ulrich Grau	16	16
Bernhard Ehmer	14	20
Harry Welten	9	10
Annalisa Jenkins	9	9
Uta Kemmerich-Keil	16	19

¹ Mr. Verdonck left the Supervisory Board in June 2021.

Basis of preparation and changes to Group' accounting policies (Details)	6 Months Ended
	Jun. 30, 2022 shares
Basis of preparation and changes to Group's accounting policies
Number of shares excluded from calculation of earnings per share because their effect would have been anti-dilutive	18,020,320

Basis of preparation and changes to Group's accounting policies - New standards and amendments to standards (Details)	6 Months Ended
	Jun. 30, 2022
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current
Disclosure of initial application of standards or interpretations [line items]
Standard/interpretation	Classification of Liabilities as Current or Non-current
Effective Date	Jan. 01, 2023
Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies
Disclosure of initial application of standards or interpretations [line items]
Standard/interpretation	Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies
Effective Date	Jan. 01, 2023
Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates
Disclosure of initial application of standards or interpretations [line items]
Standard/interpretation	Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates
Effective Date	Jan. 01, 2023
Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Disclosure of initial application of standards or interpretations [line items]
Standard/interpretation	Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Effective Date	Jan. 01, 2023

Revenue - Additional Information (Details) € in Millions, $ in Millions		1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 09, 2020 USD ($)	Oct. 31, 2018 EUR (€)	Oct. 31, 2018 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EUR (€)	Jun. 30, 2022 USD ($)
Other revenue information
Revenue				€ 0.0	€ 0.2	€ 0.2	€ 0.5
Revenue under contract liabilities				7.3		15.3
Remaining performance obligations				36.5		€ 36.5
Remaining performance obligation period						12 months
Performance obligations description						The remaining performance obligations as of June 30, 2022 are approximately €36.5 million and are expected to be largely recognized as revenue over the next 12 months (€35.1 million), with a smaller portion being realized the 12 months thereafter (€1.4 million).
Over the next 12 months
Other revenue information
Remaining performance obligations				35.1		€ 35.1
12 months thereafter
Other revenue information
Remaining performance obligations				1.4		1.4
Genentech Inc.
Other revenue information
Revenue				3.3	3.6	7.3	12.0
Collaboration agreement initial upfront payment received		€ 83.2	$ 96.0
Revenue under contract liabilities						13.0		€ 20.2
Additional payments upon achievement of milestones \| $									$ 5,000.0
Roivant Sciences Ltd.
Other revenue information
Revenue				€ 4.0	€ 5.9	7.9	€ 8.9
Collaboration agreement initial upfront payment received \| $	$ 60.0
Collaboration agreement cash consideration \| $	40.0
Collaboration agreement consideration in shares \| $	20.0
Revenue under contract liabilities						€ 23.4		€ 31.3
Additional payments upon achievement of milestones \| $	$ 2,000.0

Revenue (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue
Receivables	€ 35	€ 150
Contract liabilities	€ 36,529	€ 51,633

Revenue - Disaggregation of revenue (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other revenue information
Revenues	€ 7,301	€ 9,707	€ 15,307	€ 21,366
Point in time
Other revenue information
Revenues	0	120	0	180
Over time
Other revenue information
Revenues	7,301	9,587	15,307	21,186
Collaboration
Other revenue information
Revenues	7,284	9,485	15,153	20,888
Service
Other revenue information
Revenues	17	222	154	478
Germany
Other revenue information
Revenues	14	222	151	458
USA
Other revenue information
Revenues	€ 7,287	€ 9,485	€ 15,156	€ 20,908

Finance income and finance costs (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/costs - net	€ 2,253	€ (1,552)	€ 2,724	€ 3,947
Interest SVB Loan Agreement
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/costs - net	(381)	(208)	(759)	(281)
Foreign exchange differences
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/costs - net	2,653	(1,209)	3,568	4,413
Other finance income/finance costs - net
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/costs - net	€ (19)	€ (135)	€ (85)	€ (185)

Assets held for sale (Details) - Common shares in Roivant € / shares in Units, $ / shares in Units, € in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Aug. 05, 2022 USD ($)	Jun. 30, 2022 EUR (€) € / shares shares	Jun. 30, 2022 EUR (€) $ / shares	Dec. 31, 2021 EUR (€)
Disclosure of analysis of single amount of discontinued operations [line items]
Number of shares sold \| shares		352,041
Percentage of total shares held		25.00%
Average selling price per share \| (per share)		€ 4.36	$ 4.57
Net proceeds from sale of shares	$ 1.6	€ 1.5
Cumulated loss on sale		2.8
Decline in the fair value		0.6
Fair value of remaining shares				€ 12.3
Assets held for sales
Disclosure of analysis of single amount of discontinued operations [line items]
Fair value of remaining shares		€ 4.1	$ 4.1

Long- term financial assets (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Preferred Shares
Disclosure of financial assets [line items]
Fair value of shares	€ 0
Fair value shares of remaining	€ 0	€ 0
Common shares in Roivant
Disclosure of financial assets [line items]
Fair value of shares		€ 12,300

Trade and other receivables (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Trade and other receivables
Trade receivables	€ 35	€ 150
Value added tax receivables	€ 4,500	€ 2,700

Other assets and prepaid expenses (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other assets and prepaid expenses
Other assets and prepaid expenses	€ 7,407	€ 3,534
Prepayment for reservation of manufacturing capacity	2,100	2,900
Prepayment for manufacturing activities	1,700	0
Prepayment for Directors and Officers' liability insurance premium	€ 1,600	€ 0

Equity (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions			1 Months Ended	6 Months Ended
	Apr. 18, 2022 EUR (€) shares	Apr. 18, 2022 USD ($) $ / shares shares	Nov. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€) € / shares shares	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EUR (€) € / shares shares
Issued capital \| €				€ 1,493		€ 1,234
Number of shares outstanding \| shares				149,339,335		123,419,772
Par value \| € / shares				€ 0.01		€ 0.01
Proceeds from issue of common shares \| €				€ 95,907	€ 103,242
At the market program
ATM program common shares sales value up to \| €			€ 100,000
Public offering
Number of shares issued \| shares	22,500,000	22,500,000
Share price \| $ / shares		$ 4.00
Proceeds from issue of common shares	€ 89,800	$ 97.1
Underwriting commissions, legal and consulting expenses	€ 5,900	$ 6.4
Shares issued in public offering and over-allotment
Number of shares issued \| shares	25,875,000	25,875,000

Share-based payments (Details)	6 Months Ended
Share-based payments (Details)	Jun. 30, 2022 USD ($) Y $ / shares	Jun. 30, 2021 USD ($) Y $ / shares
Share-based payments with service condition
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value at grant date \| $	$ 3.30	$ 6.78
Share price at grant date \| $ / shares	$ 4.45	$ 8.48
Exercise price \| $ / shares	$ 4.45	$ 8.48
Expected volatility	90.00%	95.00%
Expected life \| Y	5.87	5.86
Expected dividends \| $	$ 0.00	$ 0.00
Risk-free interest rate	2.22%	1.12%
Share-based payments with market condition
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value at grant date \| $	$ 1.13
Share price at grant date \| $ / shares	$ 4.58
Exercise price \| $ / shares	$ 4.58
Expected volatility	70.00%
Expected life \| Y	2.00
Expected dividends \| $	$ 0.00
Risk-free interest rate	2.41%

Share-based payments - Additional Information (Details) $ / shares in Units, € in Thousands, $ in Millions	3 Months Ended			6 Months Ended			12 Months Ended
	Jun. 30, 2022 EUR (€) EquityInstruments shares	Jun. 30, 2022 USD ($) EquityInstruments $ / shares shares	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€) EquityInstruments tranche shares	Jun. 30, 2022 USD ($) EquityInstruments tranche $ / shares shares	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage						0.33%
Number of tranches \| tranche				3	3
Trading days						30 days
Share-based expense \| €	€ 5,625		€ 3,586	€ 9,872		€ 4,695
Number of options issued \| shares	1,500,000	1,500,000		2,825,000	2,825,000
Contractual lifetime of the options				2 years	2 years
Tranche I
Disclosure of terms and conditions of share-based payment arrangement [line items]
Hurdle rate					$ 12.00
Tranche II
Disclosure of terms and conditions of share-based payment arrangement [line items]
Hurdle rate					15.00
Tranche III
Disclosure of terms and conditions of share-based payment arrangement [line items]
Hurdle rate					$ 18.00
Research and Development
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based expense \| €	€ 2,889		1,810	€ 5,194		2,279
General and Administrative
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based expense \| €	€ 2,736		€ 1,776	€ 4,678		€ 2,416
ESOP 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)				3 years	3 years
Awards granted \| EquityInstruments	274,500	274,500		4,557,100	4,557,100
Awards cancelled or forfeited \| EquityInstruments	13,926	13,926		99,591	99,591
Awards outstanding \| EquityInstruments		15,089,070			15,089,070		10,675,001
Awards exercised \| shares	18,994	18,994		43,440	43,440
Average exercise price of awards exercised					$ 4.97
Awards vested \| EquityInstruments				7,313,165	7,313,165		5,422,591
Weighted average remaining contractual life				7 years 10 months 24 days	7 years 10 months 24 days		7 years 8 months 12 days
Exercise period				10 years	10 years
Grant date fair value	€ 1,600	$ 1.8		€ 2,900	$ 3.2
Fair value of the awards at grant date	€ 800	$ 0.8		€ 13,400	$ 15.0
ESOP 2014 \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Average exercise price of awards exercised		$ 2.26
Exercise price		1.30			$ 1.30
ESOP 2014 \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Average exercise price of awards exercised					2.52
Exercise price		$ 13.47			$ 13.47

Borrowings - Additional Information (Details) - EUR (€) € in Thousands	1 Months Ended		3 Months Ended			6 Months Ended
	Dec. 31, 2021	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2019	Jun. 30, 2022	Jun. 30, 2021	Jan. 31, 2021	Apr. 30, 2019
Disclosure of detailed information about borrowings [line items]
Amount drawdown						€ 0	€ 10,000
Finance income (cost)			€ 2,253	€ (1,552)		2,724	€ 3,947
Loan agreement with UniCredit Leasing CZ
Disclosure of detailed information about borrowings [line items]
Amount outstanding	€ 231		184			184			€ 562
Loan repaid					€ 127
Monthly repayment instalment									€ 8
Current liabilities	94		95			€ 95
Silicon Valley Bank Loan [Member]
Disclosure of detailed information about borrowings [line items]
Percentage of ownership interest pledged as security						100.00%
SVB Loan Agreement
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities			€ 17,700			€ 17,700
SVB Loan Agreement \| Loan facility trance one
Disclosure of detailed information about borrowings [line items]
Notional Amount								€ 10,000
Amount drawdown		€ 10,000
SVB Loan Agreement \| Loan facility trance two
Disclosure of detailed information about borrowings [line items]
Notional Amount								7,500
Amount drawdown	€ 7,500
SVB Loan Agreement \| Loan facility trance three
Disclosure of detailed information about borrowings [line items]
Notional Amount								€ 7,500
Minimum \| EURIBOR
Disclosure of detailed information about borrowings [line items]
Variable interest rate								0.00%
Maximum
Disclosure of detailed information about borrowings [line items]
Variable interest rate								5.50%
Maximum \| SVB Loan Agreement
Disclosure of detailed information about borrowings [line items]
Notional Amount								€ 25,000

Related parties - Additional Information (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of transactions between related parties [line items]
Share-based expense	€ 5,625	€ 3,586	€ 9,872	€ 4,695
Supervisory Board Directors
Disclosure of transactions between related parties [line items]
Compensation received for their services	107	94	216	192
Share-based expense	719	242	998	350
Management Board
Disclosure of transactions between related parties [line items]
Compensation received for their services	936	876	1,829	1,753
Share-based expense	€ 1,816	€ 1,624	€ 3,389	€ 2,271

Related parties - Outstanding Balances (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Adi Hoess
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	€ 0	€ 5
Thomas Hecht
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	20	19
Mathieu Simon
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	10	8
Ferdinand Verdonck
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	0	(1)
Ulrich Grau
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	16	16
Bernhard Ehmer
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	14	20
Harry Welten
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	9	10
Annalisa Jenkins
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	9	9
Uta Kemmerich-Kell
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	€ 16	€ 19

- Details

Name:	ifrs-full_CategoriesOfRelatedPartiesAxis=afmd_MathieuSimonMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

Subsequent events (Details) - Common shares in Roivant € in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Aug. 05, 2022 USD ($) shares	Jun. 30, 2022 EUR (€)
Disclosure of non-adjusting events after reporting period [line items]
Additional shares issued	359,306
Gross proceeds from sale of shares	$ 1.6	€ 1.5