BioLineRX Ltd. (NASDAQ:BLRX) Stock Continues to Consolidate: What to do Now?

BioLineRX Ltd. (NASDAQ:BLRX) is moving in range after the company announced its Q1 2021 financial results and provided a corporate update.  During the quarter, the company enhanced its balance sheet through an underwritten public offering raising $34.5 million in gross proceeds. In addition, the company announced promising topline data from its GENESIS Phase 3 study evaluating Motixafortide in stem-cell mobilization. The results showed that the trial successfully met both primary and secondary endpoints with exceptional statistical significance.

The company is preparing for an NDA submission for the indication expected in 1H 2022, with a pre-NDA meeting expected in 2n 2021. During this year’s American Association for Cancer Research Annual Meeting, the company presented data analyzing data by liver metastasis status from the Phase 2a COMBAT/KEYNOTE 202 tripe combination study evaluating Motixafortifre in pancreatic cancer. 

The company will release Part 2 of the Phase 1.2a AGU-134 study in solid tumor results in 2H 2021. Therefore, in the coming months, BLRX is a stock to watch.

Market Reaction:

On Thursday, BLRX stock jumped 3% to $2.90 with more than 4.26 million shares, compared to its average volume of 5.49 million shares. The stock has moved within a range of $ 2.8700 – 3.0800 after opening the trade at $3.09. Over the past 52-week, the stock has been trading within a range of $1.4000 – 6.3400.

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