Bioline RX Ltd (NASDAQ:BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, announced that it will present positive safety results of its Phase 1/2 study for BL-7010, a novel polymer for the treatment of celiac disease, at the 16th International Celiac Disease Symposium (ICDS2015), to take place from June 21-24 in Prague, Czech Republic. The Phase 1/2 results were previously announced in November 2014.
Yotam Nisemblat, BioLineRx Drug Development Director, will present the data in a talk titledBL-7010, a Novel Potential Treatment of Celiac Disease – a Phase 1/2 Safety Study in Celiac Patients, on Wednesday, June 24, in the Novel Treatments session. BL-7010 was found to be safe and well tolerated in the single-dose phase, and the optimal safe dose for future development was determined in the repeated-dose phase. The Company is in the final stages of additional non-clinical studies and formulation development for BL-7010 in preparation for the upcoming randomized, placebo-controlled efficacy study, which is expected to commence in the fourth quarter of 2015. (Original Source)
Shares of Biolinerx closed yesterday at $1.92 . BLRX has a 1-year high of $3.28 and a 1-year low of $1.20. The stock’s 50-day moving average is $1.96 and its 200-day moving average is $1.97.
On the ratings front, Biolinerx has been the subject of a number of recent research reports. In a report issued on June 15, Maxim Group analyst Jason Kolbert maintained a Buy rating on BLRX, with a price target of $8, which implies an upside of 316.7% from current levels. Separately, on May 4, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $10.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Joseph Pantginis have a total average return of 2.8% and 9.4% respectively. Kolbert has a success rate of 42.0% and is ranked #1199 out of 3629 analysts, while Pantginis has a success rate of 51.1% and is ranked #226.
Bioline Rx Ltd is a clinical stage biopharmaceutical development company engaged in identifying, in-licensing & developing therapeutic compounds.