Why BioLineRx Ltd. (BLRX) stock fluctuated on Monday?

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BEEM Stock
BEEM Stock

BioLineRx Ltd. (BLRX) shares declined 1.85% in after-hours on Monday, November 22, 2021, and closed the daily trading at $2.65. However, in the regular trading session, BLRX’s stock gained 1.50%. BLRX shares have risen 2.27% over the last 12 months, and they have moved down 5.59% in the past week. Over the past three months, the stock has lost 4.26%, while over the past six months, it has plunged 8.47%.

Let’s have a look at its recent news and developments.


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BLRX latest news

On November 18, 2021, BioLineRx Ltd. (BLRX) announced its financial results for the quarter that ended September 30, 2021.

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Q3 2021 financial highlights

  • Research and development expenses were $9 million in Q3 2021 compared to $3.5 million in Q3 2020.
  • Sales and marketing expenses were $0.2 million for the three months ended September 30, 2021, compared to $0.3 million in Q3 2020.
  • General and administrative expenses were $1.1 million in Q3 2021 compared to $0.9 million for the three months ended September 30, 2020.
  • It suffered a net loss of $5.7 million in Q3 2021, compared with a net loss of $4.6 million for the comparable period in 2020.
  • As of September 30, 2021, the company had $62.2 million in cash, cash equivalents, and short-term bank deposits.

BLRX participation in the upcoming events

BioLineRx Ltd. (BLRX) will participate virtually at the 63rd American Society of Hematology (ASH) Annual Meeting & Exposition, to be held on December 11-14, 2021 in Atlanta, GA. The company will do one oral and three poster presentations during the event.

The positive outcome of BLRX Motixafortide

On October 13, 2021, BioLineRx Ltd. (BLRX) announced positive results from a pharmacoeconomic study evaluating the cost-effectiveness of using investigational drug Motixafortide as a primary stem cell mobilization (SCM) agent on top of granulocyte colony-stimulating factor (G-CSF), versus G-CSF alone, in multiple myeloma patients undergoing autologous stem cell transplantation (ASCT). The results strongly support the potential use of Motixafortide, on top of G-CSF, as the standard of care in SCM for ASCT.

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Conclusion

If we see the Monday performance, there is not so much change in the share price and there is no latest news as well about the company so we can’t predict how it will resume trading on Tuesday.

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