Home Top Movers BioLineRX Ltd (BLRX) Stock Skyrockets Following Immense Success of Phase 3 GENESIS...

BioLineRX Ltd (BLRX) Stock Skyrockets Following Immense Success of Phase 3 GENESIS Clinical Trial

BioLineRx Ltd. (BLRX) stock prices skyrocketed by 52.98% as of market close on May 3rd 2021, bringing the price per share up to USD$4.88 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock surge another 16.6% to hit USD$5.69.

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Phase 3 GENESIS trial

BLRX announced on May 4th, 2021 the positive top-line results for their GENESIS Phase 3 trial in multiple myeloma patients. The clinical trial aimed to assess the clinical drug candidate, Motixafortide, in conjunction with granulocyte colony-stimulating factor for the hematopoietic stem-cell mobilization for autologous bone marrow transplantation.

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Resounding Success of GENESIS Trial

The immense success of the GENESIS study was demonstrated by 90% of patients in the treatment arm of the study commenced to transplantation after a single apheresis session. This indicates a very significant reduction in the burden on both patients and hospitals in the allocation of their resources. Statistical significance was achieved across primary as well as all secondary endpoints, with consistency across all twelve different sensitivity analyses.

Commercialization of Motixafortide

The company continues to aggressively develop Motixafortide so it can be granted regulatory approval for a transplant setting in patients with multiple myeloma. A New Drug Application is expected to be filed for the drug by BLRX by Q3 2022, while the company continues to facilitate the actualization of the potential of the drug in various stem-cell mobilization indications.

Solid Liquidity Position

As of December 31st, 2020, BLRX reported having cash, cash equivalents, and short-term bank deposits of USD$22.6 million. Significantly contributing to this solid liquidity position was the company’s recent underwritten public offering, which generated USD$34.5 million. BLRX also generated gross proceeds of USD$9.8 million from the exercising of outstanding warrants.

Fingers in Many Pies

Subsequent to their capital generation, BLRX allocated resources towards the continued execution of the company’s strategy for motixafortide in SCM as well as PDAC. Furthermore, the company continued to advance their second clinical candidate through clinical development. The anti-cancer immunotherapy AGI-134 has had significant success thus far and could be a highly lucrative venture upon commercialization.

Balanced Development of Portfolio

The company also reported being on the lookout for a biopharmaceutical partner to collaborate with in regard to the development of the success of the company’s Phase 2a COMBAT/KEYNOTE-202 PDAC study. The massive success showed how Motixafortide and KEYTRUDA in conjunction with chemotherapy resulted in the best performing historical data across all endpoints. The success is good news for a demographic of patients that is very difficult to treat, with their second-line metastatic PDA and some with unresectabe stage IV disease.

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Future Outlook for BLRX

The massive success of BLRX’s clinical trials has sent its stock prices shooting to the moon. The company hopes to maintain such outstanding growth in value as it works towards the proliferation of its flagship therapy as the standard in healthcare. Current and potential investors are excited for the future prospects of the company as it continues its groundbreaking research, which BLRX intends to translate into profitability and increases in shareholder value.

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