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BioLineRx Reports Second Quarter 2024 Financial Results and Recent Corporate and Portfolio Updates

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BioLineRx (NASDAQ: BLRX) reported its Q2 2024 financial results and recent updates. Key highlights include:

- Secured APHEXDA® formulary placement among top 80 transplant centers representing ~37% of stem cell transplant procedures, surpassing Q2 goal

- Doubled the number of centers ordering APHEXDA during Q2

- Entered clinical trial agreement with St. Jude Children's Research Hospital for motixafortide in sickle cell disease

- Q2 revenue: $5.4 million, including $1.8 million from APHEXDA sales

- Net income: $0.5 million, compared to net loss of $18.5 million in Q2 2023

- Cash position: $40.1 million as of June 30, 2024, expected to fund operations into 2025

BioLineRx (NASDAQ: BLRX) ha riportato i risultati finanziari del secondo trimestre 2024 e aggiornamenti recenti. Le principali novità includono:

- Ottenuta l'autorizzazione all'inserimento di APHEXDA® tra le cosiddette formulazioni tra i primi 80 centri di trapianto, rappresentando circa il 37% delle procedure di trapianto di cellule staminali, superando l'obiettivo del secondo trimestre

- Duplicato il numero di centri che hanno effettuato ordini di APHEXDA durante il secondo trimestre

- Iniziato un accordo per uno studio clinico con il St. Jude Children's Research Hospital per motixafortide nella cura della malattia falciforme

- Entrate del secondo trimestre: 5,4 milioni di dollari, inclusi 1,8 milioni derivanti dalle vendite di APHEXDA

- Reddito netto: 0,5 milioni di dollari, rispetto a una perdita netta di 18,5 milioni di dollari nel secondo trimestre del 2023

- Posizione di cassa: 40,1 milioni di dollari al 30 giugno 2024, previsto per finanziare le operazioni fino al 2025

BioLineRx (NASDAQ: BLRX) informó sus resultados financieros del segundo trimestre de 2024 y las actualizaciones recientes. Los aspectos destacados incluyen:

- Asegurada la inclusión de APHEXDA® en el formulario de entre los 80 mejores centros de trasplante, representando aproximadamente el 37% de los procedimientos de trasplante de células madre, superando la meta del segundo trimestre

- Doblada la cantidad de centros que ordenaron APHEXDA durante el segundo trimestre

- Firmado un acuerdo de ensayo clínico con el Hospital de Investigación Infantil St. Jude para motixafortide en la enfermedad de células falciformes

- Ingresos del segundo trimestre: 5.4 millones de dólares, incluyendo 1.8 millones de las ventas de APHEXDA

- Ingreso neto: 0.5 millones de dólares, en comparación con una pérdida neta de 18.5 millones de dólares en el segundo trimestre de 2023

- Posición de efectivo: 40.1 millones de dólares al 30 de junio de 2024, se espera que financie las operaciones hasta 2025

BioLineRx (NASDAQ: BLRX)는 2024년 2분기 재무 결과와 최근 업데이트를 보고했습니다. 주요 내용은 다음과 같습니다:

- APHEXDA®가 상위 80개 이식 센터의 목록에 포함되어 약 37%의 줄기세포 이식 절차를 차지하며, 2분기 목표를 초과 달성했습니다

- 2분기 동안 APHEXDA를 주문한 센터의 수가 두 배로 증가했습니다

- 겸상적혈구병 환자를 위한 motixafortide에 대한 연구 계약을 St. Jude 아동 연구 병원과 체결했습니다

- 2분기 수익: 540만 달러, 여기에는 APHEXDA 판매로 인한 180만 달러가 포함됩니다

- 순이익: 50만 달러로, 2023년 2분기 대비 1850만 달러의 순손실에서 개선되었습니다

- 현금 보유액: 2024년 6월 30일 기준 4010만 달러, 2025년까지 운영 자금을 지원할 것으로 예상됩니다

BioLineRx (NASDAQ: BLRX) a publié ses résultats financiers pour le deuxième trimestre 2024 et des mises à jour récentes. Les points clés incluent:

- Obtention de la place d'APHEXDA® dans le formulaire parmi les 80 meilleurs centres de transplantation, représentant environ 37 % des procédures de transplantation de cellules souches, dépassant l'objectif du deuxième trimestre

- Doubler le nombre de centres commandant APHEXDA au cours du deuxième trimestre

- Entrée dans un accord d'essai clinique avec l'hôpital de recherche pour enfants St. Jude pour le motixafortide dans la maladie de cellules falciformes

- Revenus du deuxième trimestre : 5,4 millions de dollars, dont 1,8 million de dollars provenant des ventes d'APHEXDA

- Résultat net : 0,5 million de dollars, par rapport à une perte nette de 18,5 millions de dollars au deuxième trimestre 2023

- Position de trésorerie : 40,1 millions de dollars au 30 juin 2024, attendu pour financer les opérations jusqu'en 2025

BioLineRx (NASDAQ: BLRX) hat die finanziellen Ergebnisse des zweiten Quartals 2024 und aktuelle Updates veröffentlicht. Wichtige Höhepunkte sind:

- Sicherstellung der Aufnahme von APHEXDA® in das Formular der 80 besten Transplantationszentren, die etwa 37% der Stammzelltransplantationen repräsentieren, wodurch das Ziel für das zweite Quartal übertroffen wurde

- Die Anzahl der Zentren, die APHEXDA bestellt haben, hat sich im zweiten Quartal verdoppelt

- Abschluss eines klinischen Studienvertrags mit dem St. Jude Children's Research Hospital für motixafortide bei Sichelzellenanämie

- Einnahmen im zweiten Quartal: 5,4 Millionen Dollar, einschließlich 1,8 Millionen Dollar aus APHEXDA-Verkäufen

- Nettogewinn: 0,5 Millionen Dollar im Vergleich zu einem Nettoverlust von 18,5 Millionen Dollar im zweiten Quartal 2023

- Bargeldbestand: 40,1 Millionen Dollar zum 30. Juni 2024, erwartet zur Finanzierung der Betriebsabläufe bis 2025

Positive
  • Exceeded Q2 goal for APHEXDA formulary placement, reaching ~37% of stem cell transplant procedures
  • Doubled the number of centers ordering APHEXDA in Q2
  • Q2 revenue of $5.4 million, including $1.8 million from APHEXDA sales
  • Net income of $0.5 million in Q2 2024, compared to net loss of $18.5 million in Q2 2023
  • Cash position of $40.1 million, expected to fund operations into 2025
Negative
  • Increased sales and marketing expenses to $6.4 million in Q2 2024 from $5.6 million in Q2 2023
  • Increased general and administrative expenses to $1.6 million in Q2 2024 from $1.3 million in Q2 2023

Insights

BioLineRx's Q2 2024 results show promising commercial traction for APHEXDA. Net revenue doubled quarter-over-quarter, reaching $1.8 million. The company has secured formulary placement at institutions representing 37% of stem cell transplant procedures, surpassing their goal. This rapid adoption suggests strong market acceptance and potential for future growth.

However, operating expenses remain high at $10.2 million, primarily due to sales and marketing costs. While the company reported a net income of $0.5 million, this was largely due to non-cash warrant revaluations. The $40.1 million cash position provides runway into 2025, but continued revenue growth will be important for long-term sustainability.

The clinical progress of motixafortide is encouraging. The expansion into sickle cell disease (SCD) gene therapy mobilization, with collaborations at St. Jude and Washington University, opens up a potentially lucrative market. Early data from these trials, expected later this year and in 2025, could be significant catalysts.

The positive biopsy data presented at ASCO 2024 for pancreatic cancer treatment is also noteworthy. The statistically significant increase in CD8+ T-cell density in tumors suggests potential efficacy in combination with immunotherapy. However, with full enrollment for the Phase 2b trial not expected until 2027, this remains a long-term prospect.

APHEXDA's market penetration is impressive, with formulary placement secured at centers representing 37% of stem cell transplant procedures. The doubling of ordering centers in Q2 indicates growing recognition of APHEXDA's value proposition. The goal to reach 60% by year-end seems achievable and could drive substantial revenue growth.

The expansion into SCD gene therapy mobilization is strategically sound, given the reported increase in authorized treatment centers and patient initiations for these therapies. If APHEXDA can demonstrate superior efficacy in collecting the large number of stem cells required, it could become a critical component in this emerging field, potentially opening up a significant new revenue stream.

- Secured APHEXDA® formulary placement among top 80 transplant centers representing ~37% of stem cell transplant procedures performed, surpassing stated goal for quarter; on-track to reach goal of ~60% by end of Q4 -

- Doubled the number of centers ordering APHEXDA during the second quarter -

- Entered into clinical trial agreement with St. Jude Children's Research Hospital to evaluate motixafortide for hematopoietic stem cell mobilization for gene therapies in sickle cell disease -

- Management to host conference call today, August 15, at 8:30 am EDT -

TEL AVIV, Israel, Aug. 15, 2024 /PRNewswire/ -- BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a commercial stage biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases, today reported its unaudited financial results for the second quarter ended June 30, 2024, and provided recent corporate and portfolio updates.

 

BioLineRx Ltd. Logo (PRNewsfoto/BioLineRx Ltd.)

 

"We continue to demonstrate positive commercial launch momentum with APHEXDA, our best-in-class stem cell mobilization agent," said Philip Serlin, Chief Executive Officer of BioLineRx.  "Importantly, among our targeted top 80 transplant centers, we've secured formulary placement to date at institutions representing ~37% of stem cell transplant procedures performed, surpassing our stated goal.  Additionally, we doubled the number of transplant centers ordering APHEXDA during the second quarter, which is a strong leading indicator and, we believe, reflects centers' growing recognition of the value that APHEXDA offers relative to other mobilization agents.  Our goal is to achieve formulary placement at institutions representing approximately 60% of procedures by the end of year, which will support continued revenue growth and ease burdens on patients, caregivers, and transplant centers.

"Our vision is to maximize the potential of APHEXDA by expanding into key areas with high unmet need. To that end, we announced our second clinical trial collaboration, with St. Jude Children's Research Hospital, evaluating APHEXDA for stem cell mobilization in patients with sickle cell disease (SCD) seeking gene therapy.  This new collaboration complements the ongoing SCD stem cell mobilization Phase 1 trial at Washington University in St. Louis (Wash U.).  APHEXDA has the potential to support the collection of the immense amount of stem cells needed for these complex gene therapies in a more predictable and condensed timeline for patients.  The companies launching these new gene therapies for SCD report continued expansion of authorized treatment centers and increased numbers of patients initiating cell collection.  We look forward to seeing early data from the Wash U. Phase 1 trial later this year."

APHEXDA Launch Updates

  • Among top 80 transplant centers, secured formulary placement to date at institutions representing ~37% of stem cell transplant procedures performed, exceeding the company's stated goal for the quarter; on track to achieve ~60% by year-end 2024
  • Saw double the number of centers ordering APHEXDA during the second quarter as compared to the first quarter, which contributed to quarter-over-quarter net revenue growth of 100%

Clinical Portfolio Updates

Motixafortide

Multiple Myeloma

  • Presented a poster at the American Society for Apheresis (ASFA) 2024 Annual Meeting on April 17, 2024, demonstrating that transplant centers (averaging, for example, 20 transplants per month), when switching to G-CSF plus APHEXDA, could increase capacity by 52.0 patient days per month versus G-CSF alone, or by 12.3 patient days per month versus G-CSF in combination with plerixafor
  • Presented a poster at the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) on April 6, 2024, showing that even with APHEXDA's higher drug acquisition cost compared to other mobilization regimens, specifically G-CSF alone or G-CSF plus generic plerixafor, the combination of G-CSF plus APHEXDA may confer a similar or better overall financial impact while providing centers and patients with an improved mobilization experience
  • Collaboration partner Gloria Biosciences' stem cell mobilization bridging study IND was filed and approved by the Center for Drug Evaluation of the National Medical Products Administration in China. Anticipate initiation of pivotal clinical trial in 2H 2024

Sickle Cell Disease (SCD) & Gene Therapy

  • Entered into clinical trial agreement with St. Jude Children's Research Hospital to evaluate motixafortide for hematopoietic stem cell mobilization for gene therapies in sickle cell disease. The Phase 1 clinical trial is an open-label, multi-center study evaluating the safety, tolerability, and feasibility of single-agent motixafortide for the mobilization and collection of CD34+ HSCs in 12 patients (aged 18 and older) with SCD. Anticipate first patient dosed in September 2024 and initial data in 2025
  • Reported continuing enrollment of patients into a Phase 1 clinical trial evaluating motixafortide as monotherapy and in combination with natalizumab for stem cell mobilization for gene therapies in sickle cell disease. The trial, in collaboration with Washington University School of Medicine in St. Louis, has been expanded from five to 10 patients. Anticipate initial data in 2H 2024

Pancreatic Ductal Adenocarcinoma (mPDAC)

  • Presented positive biopsy data from the completed pilot phase of the ongoing CheMo4METPANC Phase 2b clinical trial collaboration with Columbia University at the American Society of Clinical Oncology (ASCO) 2024 Annual Meeting held on June 1, 2024 in Chicago, IL. New analyses of paired pre- and on-treatment biopsy samples demonstrated a statistically significant increase in CD8+ T-cell density in tumors from all 11 patients treated with the combination therapy approach (P=0.007). Enrollment in the randomized trial targeting 108 patients continues with full enrollment anticipated in 2027
  • Completed design of Phase 2b randomized clinical trial in China with collaboration partner Gloria Biosciences intended to assess motixafortide in combination with the PD-1 inhibitor zimberelimab and standard-of-care chemotherapy as first-line treatment in patients with metastatic pancreatic cancer. Anticipate clinical trial initiation in 2025

Second Quarter 2024 Financial Results

  • Total revenue for the three months ended June 30, 2024 was $5.4 million. The Company did not record any revenue during the second quarter of 2023. Revenue for the quarter reflects a portion of the upfront payment from the Gloria Biosciences license, which amounted to $3.6 million, as well as $1.8 million of net revenue from product sales of APHEXDA in the U.S.
  • Cost of revenue for the three months ended June 30, 2024 was $0.9 million. The Company did not record any cost of revenue during the second quarter of 2023. Cost of revenue for the quarter primarily reflects the amortization of intangible assets, royalties on net product sales of APHEXDA in the U.S., and cost of goods sold on product sales
  • Research and development expenses for the three months ended June 30, 2024 were $2.2 million, compared to $3.0 million for the same period in 2023. The decrease resulted primarily from lower expenses related to motixafortide New Drug Application (NDA) supporting activities, termination of the development of AGI-134 and a decrease in share-based compensation
  • Sales and marketing expenses for the three months ended June 30, 2024 were $6.4 million, compared to $5.6 million for the same period in 2023. The increase resulted primarily from the ramp-up in headcount costs associated with a fully hired field team
  • General and administrative expenses for the three months ended June 30, 2024 were $1.6 million, compared to $1.3 million for the same period in 2023. The increase resulted primarily from an increase in legal and certain other expenses
  • Net income for the three months ended June 30, 2024 was $0.5 million, compared to net loss of $18.5 million for the same period in 2023. The net income for the 2024 period included $7.8 million in non-operating income, compared to non-operating expenses of $7.7 million for the same period in 2023, both primarily related to the non-cash revaluation of warrants
  • As of June 30, 2024, the Company had cash, cash equivalents, and short-term bank deposits of $40.1 million. The Company anticipates that this amount will be sufficient to fund operations, as currently planned, into 2025

Conference Call and Webcast Information

To access the conference call, please dial +1-888-281-1167 from the U.S. or +972-3-918-0685 internationally. A live webcast and a replay of the call can be accessed through the event page on the Company's website. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast. The call replay will be available approximately two hours after completion of the live conference call. A dial-in replay of the call will be available until August 19, 2024; please dial +1-888-295-2634 from the US or +972-3-925-5904 internationally.

About BioLineRx

BioLineRx Ltd. (NASDAQ/TASE: BLRX) is a commercial stage biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases. The company's first approved product is APHEXDA® (motixafortide) with an indication in the U.S. for stem cell mobilization for autologous transplantation in multiple myeloma. BioLineRx is advancing a pipeline of investigational medicines for patients with sickle cell disease, pancreatic cancer, and other solid tumors. Headquartered in Israel, and with operations in the U.S., the company is driving innovative therapeutics with end-to-end expertise in development and commercialization, ensuring life-changing discoveries move beyond the bench to the bedside.

Learn more about who we are, what we do, and how we do it at www.biolinerx.com, or on Twitter and LinkedIn.

Forward Looking Statement

Various statements in this release concerning BioLineRx's future expectations constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," and "would," and describe opinions about future events. These include statements regarding management's expectations, beliefs and intentions regarding, among other things, the potential benefits of APHEXDA, the execution of the launch of APHEXDA and the plans and objectives of management for future operations and expectations and commercial potential of motixafortide, as well as its potential investigational uses. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause BioLineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the initiation, timing, progress and results of BioLineRx's preclinical studies, clinical trials, and other therapeutic candidate development efforts; BioLineRx's ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials; whether BioLineRx's collaboration partners will be able to execute on collaboration goals in a timely manner; whether the clinical trial results for APHEXDA will be predictive of real-world results; BioLineRx's receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of BioLineRx's therapeutic candidates, including the degree and pace of market uptake of APHEXDA for the mobilization of hematopoietic stem cells for autologous transplantation in multiple myeloma patients; whether access to APHEXDA is achieved in a commercially viable manner and whether APHEXDA receives adequate reimbursement from third-party payors; BioLineRx's ability to establish, operationalize and maintain corporate collaborations; BioLineRx's ability to integrate new therapeutic candidates and new personnel; the interpretation of the properties and characteristics of BioLineRx's therapeutic candidates and of the results obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BioLineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection BioLineRx is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BioLineRx's expenses, future revenues, capital requirements and its needs for and ability to access sufficient additional financing, including any unexpected costs or delays in the  commercial launch of APHEXDA; risks related to changes in healthcare laws, rules and regulations in the United States or elsewhere; competitive companies, technologies and BioLineRx's industry; statements as to the impact of the political and security situation in Israel on BioLineRx's business; and the impact of the COVID-19 pandemic, the Russian invasion of Ukraine, the declared war by Israel against Hamas and the military campaigns against Hamas and other terrorist organizations, which may exacerbate the magnitude of the factors discussed above. These and other factors are more fully discussed in the "Risk Factors" section of BioLineRx's most recent annual report on Form 20-F filed with the Securities and Exchange Commission on March 26, 2024. In addition, any forward-looking statements represent BioLineRx's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BioLineRx does not assume any obligation to update any forward-looking statements unless required by law.

Logo: https://mma.prnewswire.com/media/2154863/4858892/BioLineRx_Ltd_Logo.jpg

Contacts:

United States
John Lacey
BioLineRx
IR@biolinerx.com

Israel
Moran Meir
LifeSci Advisors, LLC
moran@lifesciadvisors.com

 

 

 

BioLineRx Ltd.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

(UNAUDITED)





December 31,

June 30,


2023

2024


in USD thousands

Assets



CURRENT ASSETS



Cash and cash equivalents

4,255

9,623

Short-term bank deposits

38,739

30,437

Trade receivables

358

3,179

Prepaid expenses

1,048

1,581

Other receivables

830

656

Inventory

1,953

3,634

          Total current assets

47,183

49,110




NON-CURRENT ASSETS



Property and equipment, net

473

344

Right-of-use assets, net

1,415

1,452

Intangible assets, net

14,854

13,690

          Total non-current assets

16,742

15,486

          Total assets

63,925

64,596




Liabilities and equity



CURRENT LIABILITIES



Current maturities of long-term loan

3,145

10,656

Contract liabilities

12,957

5,477

Accounts payable and accruals:



     Trade

10,869

6,266

     Other

3,353

2,530

Current maturities of lease liabilities

528

500

Warrants

11,932

5,087

          Total current liabilities

42,784

30,516

NON-CURRENT LIABILITIES



Long-term loan, net of current maturities

6,628

18,790

Lease liabilities

1,290

1,309

          Total non-current liabilities

7,918

20,099

CONTINGENT LIABILITIES



     Total liabilities

50,702

50,615




EQUITY



Ordinary shares

31,355

34,411

Share premium

355,482

352,428

Warrants

1,408

1,408

Capital reserve

17,000

17,968

Other comprehensive loss

(1,416)

(1,416)

Accumulated deficit

(390,606)

(390,818)

          Total equity

13,223

13,981

          Total liabilities and equity

63,925

64,596

 

 


BioLineRx Ltd.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 (UNAUDITED)

 


Three months ended

June 30,

Six months ended

June 30,


2023

2024

2023

2024


in USD thousands

in USD thousands

REVENUES

-

5,393

-

12,248

COST OF REVENUES

-

(897)

-

(2,352)

GROSS PROFIT

-

4,496

-

9,896

RESEARCH AND DEVELOPMENT EXPENSES

(3,006)

(2,225)

(6,690)

(4,719)

SALES AND MARKETING EXPENSES

(5,604)

(6,415)

(9,478)

(12,757)

GENERAL AND ADMINISTRATIVE EXPENSES

(1,305)

(1,629)

(2,603)

(3,015)

OPERATING LOSS

(9,915)

(5,773)

(18,771)

(10,595)

NON-OPERATING INCOME (EXPENSES), NET

(7,733)

7,807

(10,649)

12,297

FINANCIAL INCOME

440

535

977

1,100

FINANCIAL EXPENSES

(1,337)

(2,085)

(2,264)

(3,014)

NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

(18,545)

484

(30,707)

(212)







in USD

in USD

EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO ORDINARY
SHAREHOLDERS





     BASIC

(0.02)

0.00

(0.03)

(0.00)

    DILUTED

(0.02)

0.00

(0.03)

(0.00)

WEIGHTED AVERAGE NUMBER OF SHARES USED IN
CALCULATION OF
EARNINGS (LOSS) PER SHARE





    BASIC

922,958,942

1,197,582,901

922,958,942

1,142,221,033

    DILUTED

922,958,942

1,197,582,901

922,958,942

1,142,221,033






 

 


BioLineRx Ltd.

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY

(UNAUDITED)



Ordinary
shares

Share
premium

Warrants

Capital
reserve

Other
comprehensive
loss

Accumulated
deficit

Total


in USD thousands

BALANCE AT JANUARY 1, 2023

27,100

338,976

1,408

14,765

(1,416)

(329,992)

50,841

CHANGES FOR SIX MONTHS ENDED
   JUNE 30, 2023:








Employee stock options expired

-

69

-

(69)

-

-

-

Share-based compensation     

-

-

-

920

-

-

920

Comprehensive loss for the period

-

-

-

-

-

(30,707)

(30,707)

BALANCE AT JUNE 30, 2023

27,100

339,045

1,408

15,616

(1,416)

(360,699)

21,054


















Ordinary
shares

Share
premium

Warrants

Capital
reserve

Other
comprehensive
loss

Accumulated
deficit

Total


in USD thousands

BALANCE AT JANUARY 1, 2024

31,355

355,482

1,408

17,000

(1,416)

(390,606)

13,223

CHANGES FOR SIX MONTHS ENDED
   JUNE 30, 2024:








Issuance of share capital and warrants, net

3,056

(3,056)

-

-

-

-

-

Employee stock options forfeiture




(66)



(66)

Share-based compensation   expenses

-

-

-

1,036

-

-

1,036

Comprehensive loss for the period

-

-

-

-

-

(212)

(212)

BALANCE AT JUNE 30, 2024

34,411

352,426

1,408

17,970

(1,416)

(390,818)

13,981









 

 



BioLineRx Ltd.

CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENTS

(UNAUDITED)




Six months ended June 30,


2023

2024


in USD thousands




CASH FLOWS - OPERATING ACTIVITIES



Comprehensive loss for the period

(30,707)

(212)

Adjustments required to reflect net cash used in operating activities
(see appendix below)

13,009

(25,226)

Net cash used in operating activities

(17,698)

(25,438)




CASH FLOWS – INVESTING ACTIVITIES



Investments in short-term deposits

(6,006)

(20,559)

Maturities of short-term deposits

24,000

28,660

Purchase of property and equipment

(99)

(59)

Purchase of intangible assets

(153)

-

Net cash provided by investing activities

17,742

8,042




CASH FLOWS – FINANCING ACTIVITIES



Issuance of share capital and warrants, net of issuance cost

-

5,565

Net proceeds from loan

-

19,223

Repayments of loan


(1,547)

Repayments of lease liabilities

(183)

(256)

Net cash provided by (used in) financing activities

(183)

22,985




INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

(139)

5,589

CASH AND CASH EQUIVALENTS - BEGINNING

   OF PERIOD

10,587

4,255

EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS

(344)

(221)

CASH AND CASH EQUIVALENTS - END OF PERIOD

10,104

9,623




 

 

 

BioLineRx Ltd.

APPENDIX TO CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENTS

(UNAUDITED)






Six months ended June 30,


2023

2024


in USD thousands







Adjustments required to reflect net cash used in operating activities:



Income and expenses not involving cash flows:



Depreciation and amortization

457

1,373

Exchange differences on cash and cash equivalents

344

221

Fair value adjustments of warrants

10,843

(12,845)

Share-based compensation

920

970

Interest on short-term deposits

(210)

201

Interest on loan

1,405

1,997

Exchange differences on lease liabilities

(75)

189

Issuance cost of warrants

-

642


13,684

(7,252)




Changes in operating asset and liability items:



Increase in trade receivables

-

(2,821)

Increase in prepaid expenses and other receivables

(958)

(359)

Increase in inventory

-

(1,681)

Increase (decrease) in accounts payable and accruals

283

(5,633)

Decrease in contract liabilities

-

(7,480)


(675)

(17,974)


13,009

(25,226)







Supplemental information on interest received in cash

761

931




Supplemental information on interest paid in cash

640

971




Supplemental information on non-cash transactions:



     Changes in right-of-use asset and lease liabilities

66

58

     Warrant issuance costs

-

207




 

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/biolinerx-reports-second-quarter-2024-financial-results-and-recent-corporate-and-portfolio-updates-302222449.html

SOURCE BioLineRx Ltd.

FAQ

What was BioLineRx's (BLRX) revenue for Q2 2024?

BioLineRx reported total revenue of $5.4 million for Q2 2024, including $1.8 million from APHEXDA sales in the U.S.

How many transplant centers have adopted APHEXDA as of Q2 2024?

BioLineRx secured APHEXDA formulary placement among top 80 transplant centers representing ~37% of stem cell transplant procedures, surpassing their Q2 goal.

What is BioLineRx's (BLRX) cash position as of June 30, 2024?

BioLineRx reported a cash position of $40.1 million as of June 30, 2024, which is expected to fund operations into 2025.

What new clinical trial agreement did BioLineRx (BLRX) enter in Q2 2024?

BioLineRx entered into a clinical trial agreement with St. Jude Children's Research Hospital to evaluate motixafortide for hematopoietic stem cell mobilization for gene therapies in sickle cell disease.

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