Bioline RX Ltd (NASDAQ:BLRX) announced its corporate objectives at an ongoing investor breakfast meeting at theConvene Conference Center near Grand Central in New York City. These objectives include continued execution of advanced clinical studies for its lead oncology platform, deepening of its existing strategic collaborations with leading global pharma companies, focused pipeline development into additional high-value markets, and targeted milestones in line with its five-year corporate vision.
As the Company looks to 2017, objectives include:
- Initiation and ramp up of several Phase 1b combination studies of BL-8040 and Atezolizumab for multiple solid tumor indications and AML in the framework of its Genentech immunotherapy collaboration;
- Partial results in the first pancreatic immunotherapy Phase 2a combination study of BL-8040 and KEYTRUDA® in the framework of its Merck immunotherapy collaboration;
- Interim and final results from a Phase 2 study for BL-8040 in stem cell mobilization;
- GRAS designation for BL-7010 as a food supplement, paving the way for US partnering discussions;
- Additional skin lesion indications for BL-5010, including potential partnering for entry and commercialization in the US;
- Continued evaluation of innovative assets under the Novartis strategic collaboration, resulting in the in-licensing of additional promising new projects;
- New programs announced under the Company’s iPharma joint venture in China.
As BioLineRx looks to the future, it is also highlighting its five-year strategic corporate objectives, including maintaining a critical mass of advanced projects in development, alongside a portfolio of revenue-generating assets. Active partnering, licensing and business development programs remain on target, including the potential to secure a significant out-licensing transaction with a global pharmaceutical company, as well as the execution of new strategic transactions as the opportunities arise.
Philip Serlin, Chief Financial and Operating Officer of BioLineRx, stated, “We are very excited about our prospects ahead. We continue to build clinical evidence in support of our therapeutic assets, which are validated by our growing roster of programs and partnerships with leading industry players such as Novartis, Merck and Genentech, bolstering our access to cutting edge technologies and key opinion leaders. The entire BioLineRx team is aligned, focused and committed to delivering on our strategic corporate objectives. We look forward to providing our investors with timely updates.”
Additional topics for discussion at the ongoing BioLineRx investor breakfast meeting include 1) an overview of BL-8040, the Company’s lead program in oncology, with an emphasis on the cancer immunotherapy collaborations, and the development and commercialization plans in stem-cell mobilization; and 2) a keynote presentation by Dr. Manuel Hidalgo, a world-renowned key opinion leader in pancreatic cancer and Chief of the Division of Hematology-Oncology at Beth Israel Deaconess Medical Center, an affiliate of Harvard University in Boston. (Original Source)
Shares of Biolinerx closed yesterday at $1.02, down $0.02 or -1.92%. BLRX has a 1-year high of $1.76 and a 1-year low of $0.71. The stock’s 50-day moving average is $0.90 and its 200-day moving average is $0.92.
On the ratings front, Biolinerx has been the subject of a number of recent research reports. In a report issued on September 8, Roth Capital analyst Joseph Pantginis maintained a Buy rating on BLRX, with a price target of $7.00, which represents a potential upside of 586% from where the stock is currently trading. Separately, on September 7, Maxim’s Jason Kolbert reiterated a Hold rating on the stock and has a price target of $1.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a total average return of 7.5% and -16.0% respectively. Pantginis has a success rate of 39% and is ranked #316 out of 4175 analysts, while Kolbert has a success rate of 29% and is ranked #4058.
BioLineRx Ltd. is a clinical-stage biopharmaceutical company. Its activities include indentifying, in-licensing, and developing therapeutic candidates. It in-licenses novel compounds primarily from academic institutions and biotech companies based in Israel, and develops them through pre-clinical stages, and then partners with pharmaceutical companies clinical development and commercialization. The company was founded in April 2003 and is headquartered in Modi’in, Israel.