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BioLineRx Reports 2024 Financial Results and Provides Corporate Update
BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a development stage biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases, today reported its audited financial results for the year ended December 31, 2024, and provided a corporate update.
About this update from Biolinerx Ltd.
[{"type":"text","content":"- Reports meaningful progress in the evaluation of assets for potential in-licensing and development in the areas of oncology and rare diseases -","length":145,"tagName":"p","attribs":{}},{"type":"text","content":"- Executed license agreement with Ayrmid Pharma Ltd. for APHEXDA® (motixafortide) with $10 million upfront payment, up to $87 million in commercial milestones, and high double-digit royalties on net sales -","length":206,"tagName":"p","attribs":{}},{"type":"text","content":"- Completed financings raising combined gross proceeds of $19 million and reduced operating expense run rate by 70%, extending the Company's cash runway through H2 2026 -","length":174,"tagName":"p","attribs":{}},{"type":"text","content":"- Management to host conference call today, March 31st, at 8:30 am EDT -","length":72,"tagName":"p","attribs":{}},{"type":"text","content":"TEL AVIV, Israel, March 31, 2025 /PRNewswire/ -- BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a development stage biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases, today reported its audited financial results for the year ended December 31, 2024, and provided a corporate update.","length":318,"tagName":"p"},{"type":"image","alt":"BioLineRx Ltd. Logo","displaySize":"","headline":null,"caption":"BioLineRx Ltd. Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":107,"url":"https://media.zenfs.com/en/prnewswire.com/b069ac9f15d655849a2707e7c3811a1a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/OyiE7Swe7H0ATLTDAG4i.g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE4OTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/b069ac9f15d655849a2707e7c3811a1a","width":400,"height":107}}},{"type":"text","content":""It has been just over four months since we implemented a major strategy shift, highlighted by the transformational exclusive licensing agreement that we entered into with Ayrmid Ltd., granting it the rights to commercialize APHEXDA® (motixafortide) in all non-solid-tumor indications and all territories other than Asia," said Philip Serlin, Chief Executive Officer of BioLineRx. "Since then, we implemented cost efficiencies across the Company, including the shutdown of our U.S. commercial operations, that have resulted in an approximate 70% reduction in our operating expense base, which, toge...