TEL AVIV, Israel, March 26, 2018 /CNW/ -- TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.
In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.
Summary of Highlights
- BioLineRx released its annual report on March 6, 2018 detailing the following:
- BiolineRx's progress is in line with our clinical development expectations for its Oncology programs, as per our Q3 report of 19 December, 2017.
- Initiation of pivotal Phase 3 GENESIS study with BL-8040 as novel stem cell mobilization treatment for autologous bone-marrow transplantation (Q4 2017)
- Partial results from Phase 2a COMBAT study, BL-8040 in pancreatic cancer (Q1 2018)
- Initiation of three Phase 1b/2 studies under collaboration with Genentech, exploring the combination of BL-8040 with Tecentriq® (atezolizumab), Genentech's anti-PD-L1 cancer immunotherapy agent (H2 2017)
- Overall long-term survival results in Phase 2a trial in relapsed/refractory AML (H2 2017)
- BioLineRx has also acquired Agalimmune Ltd., a UK-based biopharmaceutical company developing cancer immunotherapy treatments.
- We keep BioLineRx's equity value at $152.9M / NIS 527M corresponding to a target price ranging between NIS 5.01 and NIS 5.30; a mean of NIS 5.15. Thus, one ADS (representing one ordinary share) is equal to $1.49.
- The Company completed an underwritten public offering of ADSs generating gross proceeds of $28.9 million led by BVF Partners, L.P; the Company also received an additional $9.6 million direct investment from BVF Partners.
- BioLineRx has a strong balance with adequate cash ($49.5M as of 31 December, 2017) to further support its clinical and regulatory strategy throughout 2018 without additional capital raising.
About the company - BioLineRx Ltd. (hereinafter: "BioLineRx" or "the Company") is an Israeli clinical-stage biopharmaceutical company focused on oncology and immunology. In 2007, the company was listed on the Tel Aviv Stock Exchange (TASE). In July 2011, the company registered American Depositary Shares (ADSs) with the NASDAQ. The Company in-licenses compounds, develops them through pre-clinical and/or clinical stages, and then partners with pharmaceutical companies for advanced clinical development and/or commercialization. BioLineRx's leading therapeutic clinical platform is BL-8040, a cancer therapy platform. A Phase 2a study was successfully completed for relapsed/refractory AML, a Phase 2b study as an AML consolidation treatment is ongoing, a Phase 2 study in stem cell mobilization for allogeneic transplantation is also ongoing and a Phase 3 in autologous transplantation was initiated in Q4 2017. please click here (https://ww2.frost.com/research/equity-research/)
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