Bioline RX Ltd (NASDAQ:BLRX)
Bioline RX Ltd (NASDAQ:BLRX), based in Israel, released an interim update on the Phase 2 clinical trial for its lead product candidate BL-8040. The trial is designed to determine the efficacy of BL-8040 as a monotherapy solution for the mobilization and collection of blood-forming stem and progenitor cells. Current therapy utilizes 4-6 injections of G-CSF. Bioline’s goal is to replace the existing multi-shot treatment with a single dose of BL-8040.
The initial part of the study is to form a cohort of 10 patients with advanced hematological malignancies (cancer) and their HLA-matched sibling donors. This initial portion of the study was reported by Bioline RX Ltd (NASDAQ:BLRX) to be nearly complete. According to the press release, all recipients that have received a transplant have experienced a successful neutrophil engraftment. The progress of these recipients will be followed for one year. The donor’s experience was safe and deemed well tolerated.
Washington University School of Medicine (WUSOM), Oncology Division, is collaborating with Bioline RX Ltd (NASDAQ:BLRX). WUSOM will source and enroll 24 donor/recipient pairs between the ages of 18 and 70. On the donor side, the primary endpoint of the study is the ability of a single injection of BL-8040 to mobilize sufficient amounts of cells for transplantation following up to two apheresis procedures. On the recipient side, the study aims to evaluate the time to engraftment rate following transplantation of the BL-8040 collected graft. Topline results are expected at the end of this year.
Bioline RX Ltd (NASDAQ:BLRX) develops and in-licenses therapeutic candidates from academic institutions and biotech firms in Israel. The company takes the therapeutic candidates through pre-clinical and clinical trials and then seeks to partner with existing pharmaceutical companies for advanced clinical development and commercialization.
Two firms follow Bioline RX Ltd (NASDAQ:BLRX). One rates BLRX shares as a “Strong Buy” while the other rates BLRX as a “Buy”. These analysts have a consensus price target of $2. The stock has a 52-week high of $1.42 and a 52-week low of $0.71. BLRX shares experienced heavy trading Friday when BLRX closed at $1.14. Volumes were almost 1.5 times their normal daily average.
|Last Price a/o 7:16 AM EST||$ 1.23|
|Market Cap (mlns)||$ 67.72|
|Shares Outstanding (mlns)||56.43|
|Share Float (mlns)||44.39|
|Short Interest Ratio||0.52|
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.