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Affimed (AFMD) Has Jumped To A New High On Genentech Deal

Affimed (AFMD) announced Tuesday morning that it has entered into a strategic collaboration agreement with Genentech. Under the terms of the deal, Affimed will receive an upfront payment of $96 million and is eligible for up to an additional $5.0 billion.

Affimed has gapped open sharply higher this morning and is now up 2.55 at $4.15 on strong volume. The stock has leaped to a new high for the year.

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