Home Equities Score Here is why BioLineRx Ltd. (BLRX) stock pop up in the after-hours...

Here is why BioLineRx Ltd. (BLRX) stock pop up in the after-hours on Wednesday?

BioLineRx Ltd. (BLRX) shares popup 23.13% in after-hours on Wednesday, June 30, 2021, and closed the day at $3.46 per share. Earlier in the morning session, BLRX’s stock remained unchanged at $2.81 per share. BLRX shares have risen 64.33% over the last 12 months, and they have moved up 4.07% in the past week. Over the past three months, the stock has gained 0.72%, while over the past six months, it has declined 13.31%.

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Let’s see what are the latest news about BioLineRx Ltd?


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Recent financial results announcement

On May 26, 2021,BioLineRx Ltd released its financial results for the quarter ended March 31, 2021, and provides a corporate update.

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Q1 2021 financial highlights

  • The company spent $4.3 million in research and development expenses in Q1 2021 compared to $5.4 million for the quarter ended March 31, 2020.
  • Sales and marketing expenses were 2 million in Q1 2021, similar to Q1 2020.
  • General and administrative expenses were $1.0 million for Q1 2021 compared to $1.2 million for the quarter ended March 31, 2020.
  • Operating loss for the quarter was $5.5 million, compared to an operating loss of $6.8 million for Q1 2020.
  • The company suffered a net loss of $10.2 million for Q1 2021 compared to a net loss of $6.6 million for the quarter ended March 31, 2020.
  • As of March 31, 2021, the company had $58.1 million in cash, cash equivalents, and short-term bank deposits.

Positive Top-Line Results from GENESIS Phase 3 Trial of Motixafortide

On May 4, 2021, BioLineRx Ltd released positive top-line results from the Company’s GENESIS Phase 3 trial evaluating its lead clinical candidate, Motixafortide, in combination with granulocyte colony-stimulating factor (G-CSF, the standard of care in this indication), for hematopoietic stem-cell mobilization for autologous bone marrow transplantation in multiple myeloma patients.

All 122 enrolled patients found highly statistically significant evidence across all primary and secondary endpoints favouringMotixafortide in addition to G-CSF, as compared to placebo plus G-CSF. In addition, the combination was found to be safe and well-tolerated.

Participation in the recent conference

BioLineRx Ltd recently participated at the AACR Annual Meeting, which held virtually on April 10-15, 2021.

The company did a poster presentation at the meeting entitled: “A Multi-Center Phase 2a Trial of the CXCR4 inhibitor Motixafortide (BL-8040) in Combination with Pembrolizumab and Chemotherapy”.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

Well, the recent financial results announcement was the reason behind BLRX gains in the after-hours on Wednesday. We hope that BLRX will continue its surge on Thursday as well.

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