Analyst Conference Summary

biotechnology

conference date: May 27, 2025
for quarter ending: March 31, 2025 (first quarter, Q1)

Forward-looking statements

Overview: I sold mine today, so no summary, except revenue

Basic data (GAAP):

Revenue was $0.26 million, down sequentially from $na million, and down from $6.86 year-earlier.

Net income was negative $ million, down sequentially from negative $na million, but up from negative $ million year-earlier.

Earnings per share, diluted, (EPS) was $0.00, sequentially from negative $na, and up from negative $ year-earlier. The number of diluted shares rose to

Note: American Depository Shares traded on NASDAQ represent 15 ordinary shares in the Israeli company SEC filings. The EPS listed on press releases seems to correspond to ordinary shares, so would be 15X if listed for ADS shares.

Guidance:

Conference Highlights:

Philip Serlin, CEO of BioLineRx, said ""

In November 2024 agreed to license Aphexda to Ayrmid Gamida Cell for $10 million upfront, possibly $87 million in milestones, and 18% to 23% tiered royalties on sales. Expects op ex to decline by 70% following the sale, including closing U.S. operations. Excludes Asia. Also received $9 million equity investment from Highbridge Capital. Will look at adding early-stage programs in 2025. BiolineRx retains rights for solid tumors. Called Arymid an ideal partner.

Launch activities for Aphexda for stem cell mobilization in multiple myeloma continue, but now under Ayrmid.

Evaluating Aphexda (motixafortide) for supporting (stem cell collection for) sickle cell gene therapies in a Phase 1 trial. Continues Phase 2 programs in pancreatic cancer combined with a PD-1 inhibitor, with positive preliminary biopsy data presente at ASCO in June 2024. Partnered with Regeneron and Columbia. Expect full enrollment in 2027.

In 2024 repaid $16.5 million to BlackRock of the $29 million debt, with remainder to be repaid over 3 years at 9.5% interest.

In Q3 agreed with Gloria Biosciences to partner Aphexda in China, beginning with a bridging study. The bridging study needed for the Asian approval, which was expected to begin in 2024. A few Asian nations do not require the study to proceed and revenue could begin in 2H 2024. China has the largest number of multiple myeloma cases of any nation.

Gloria is also partnering for the study of Aphexa for first-line pancreatic cancer (PDAC), in combination with a PD-1 inhbitor. Pilot phase was successful, with 7 of 11 patients getting partial responses. 3 more had disease control. Columbia University and Regeneron with BiolinxRx are expanding into a randomized Phase 2b study, which had its first patient dosed in February 2024. But not fully enrolled until 2027.

The other item in the pipeline is AGI-134, a solid tumor immunotherapy. The positive results of a Phase 1/2a study had been announced in Q4 2022.

Cash and equivalents ended at $ million, down sequentially from $19.6 million. Had about $ million in long-term debt. Received $10 million in January 2025.

Operating expenses consisted of: Cost of sales $ million; R&D $ million; sales/marketing $6 million; G&A $ million. Impairment $ million. Operating loss $ million. Other income $ million. Finanical Expense net $ million.

Q&A, selective summary:

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