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