Initial clinical results achieved to-date for the main
indications being developed under the BL-8040 platform; strong
balance sheet with sufficient cash to fund clinical trials
scheduled till early 2020; target price increased by 10% to
5.67.
Equity Research is published in the framework of the Tel
Aviv Stock Exchange (TASE) Analysis Program
TEL AVIV, Israel, Aug. 21, 2018 /PRNewswire/ -- The TASE analysis
project was launched in 2016 in order to raise the investors' level
of knowledge of about TASE listed technology and life-science
companies and the markets in which the companies operate, thus
creating appropriate pricing and increasing the exposure of
investors from Israel and abroad.
Its goal is to encourage investments in these companies by removing
the barrier of lacking understanding in the market.
In order to maintain professional, independent and unbiased
analysis, the companies signed an agreement with the TASE to
receive the analysis services for an obligatory period of two
years. The companies cannot withdraw from the project during this
period. The analysis is funded by the companies surveyed with
funding from the Chief Scientist and the TASE.
Summary of Highlights
On August 1st BioLineRx
announced the initiation of a Phase 1/2a clinical study for
AGI-134, a novel immunotherapy for the treatment of solid
tumors.
- AGI-134 is a novel compound that evokes a direct anti-tumor
response, as well as a vaccine effect, via a unique, multi-arm
mechanism that targets patient-specific tumor neoantigens.
- The study is primarily designed to evaluate the safety and
tolerability of AGI-134, given both as monotherapy and in
combination with an immune checkpoint inhibitor, in unresectable
metastatic solid tumors.
On August 7th BioLineRx
announced positive results for the first part of the study of its
Phase 3 GENESIS Trial in stem-cell mobilization.
- The GENESIS trial is a double-blind, placebo-controlled Phase 3
trial comparing BL-8040 in combination with granulocyte
colony-stimulating factor (G-CSF), to G-CSF alone, for the
mobilization of hematopoietic stem cells (HSCs) used for autologous
transplantation in multiple myeloma patients.
- These results emphasize the potential of BL-8040 as a treatment
which reduces the number of administrations and
apheresis1 sessions, as well as hospitalization costs,
related to the preparation of multiple myeloma patients for
autologous HSC transplantation.
We increase our equity valuation of BioLineRx by 10% to
$165.9M / NIS
612M, corresponding to a target price ranging between
NIS 5.52 and NIS 5.84; a mean of NIS
5.67. Thus, 1 ADS (representing 1 ordinary share) is equal
to $1.54.
- BioLineRx has a strong balance with adequate cash ($41M as of 30 June,
2018) to further support its clinical and regulatory
strategy until early 2020 without additional capital raising.
- Pending achievements, several major clinical milestones
forecasted for 2018 may increase the commercial market value of the
company's stock.
About the company - BioLineRx Ltd. (hereinafter:
"BioLineRx" or "the Company") is an Israeli clinical-stage
biopharmaceutical company focused on oncology and immunology. In
2007, the company was listed on the Tel Aviv Stock Exchange. In
July 2011, the company registered
American Depositary Shares (ADSs) with the NASDAQ. The Company
in-licenses compounds, develops them through pre-clinical and/or
clinical stages, and then partners with pharmaceutical companies
for advanced clinical development and/or commercialization.
Read the full report here.
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For further information, please contact:
Jacqui Holmes
Corporate Communications - Frost & Sullivan, Europe
E: jacqui.holmes@frost.com
http://www.frost.com