MANNHEIM, Germany (AP) — MANNHEIM, Germany (AP) — Affimed N.V. (AFMD) on Wednesday reported a loss of $20.8 million in its first quarter.

On a per-share basis, the Mannheim, Germany-based company said it had a loss of $1.38.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.73 per share.

The drug developer posted revenue of $168,300 in the period. Its adjusted revenue was $168,000.

Affimed N.V. shares have increased 4.5% since the beginning of the year. The stock has decreased 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFMD at https://www.zacks.com/ap/AFMD