On Friday, BIOLINERX LTD/S ADR (NASDAQ: BLRX) stock price moved upward at 8.09%. Its total market capitalization is $92598334. Its day lowest price was $2.36 and its hit its day highest price at $2.54. The stock recent volume is 0 shares in comparison to its average trading volume of 61625 shares. Looking at the stock’s price level on the past 52-week graph, BLRX recorded a 52-week high of $13.05 and its 52-week low of $2.32.
BioLineRx Ltd. (BLRX) recently reports its financial results for the quarter ended September 30, 2019 and provides a corporate update.
Financial Results for the Third Quarter Ended September 30, 2019
Research and development expenses for the three months ended September 30, 2019 were $5.6M, a raise of $0.6M, or 11%, contrast to $5.0M for the three months ended September 30, 2018. The increase resulted primarily from higher expenses associated with the BL-8040 GENESIS and COMBAT/KEYNOTE-202 clinical trials. Research and development expenses for the nine months ended September 30, 2019 were $15.3M, a raise of $0.7M, or 5%, contrast to $14.6M for the nine months ended September 30, 2018. The increase resulted primarily from higher expenses associated with the BL-8040 GENESIS and COMBAT/KEYNOTE-202 clinical trials, offset by a decrease in expenses related to BL-1230, a project which was terminated.
Sales and marketing expenses for the three months ended September 30, 2019 were $0.2M, a decrease of $0.1M, or 31%, contrast to $0.3M for the three months ended September 30, 2018. The decrease resulted primarily from a decrease in payroll and related expenses. Sales and marketing expenses for the nine months ended September 30, 2019 were $0.7M, a decrease of $0.4M, or 40%, contrast to $1.1M for the nine months ended September 30, 2018. The decrease resulted primarily from a decrease in payroll and related expenses, including a one-time compensation payment in the 2018 period.
General and administrative expenses for the three months ended September 30, 2019 were $0.9M, similar to the comparable period in 2018. General and administrative expenses for the nine months ended September 30, 2019 were $2.8M, similar to the comparable period in 2018.
The Company’s operating loss for the three months ended September 30, 2019 was $6.6M, contrast to $6.2M for the three months ended September 30, 2018. The Company’s operating loss for the nine months ended September 30, 2019 was $18.7M, contrast to $18.6M for the comparable period in 2018.
Non-operating income for the three and nine months ended September 30, 2019 primarily relate to fair-value adjustments of warrant liabilities on the Company’s balance sheet, offset by warrant offering expenses. Non-operating income (expense) for the three and nine months ended September 30, 2018 primarily relate to fair-value adjustments of warrant liabilities on the Company’s balance sheet, as well as a capital gain from realization of the investment in iPharma.
Net financial expenses amounted to $0.4M for the three months ended September 30, 2019 contrast to net financial income of $0.1M for the three months ended September 30, 2018. Net financial expenses for the 2019 period primarily relate to interest paid on loans, offset by investment income earned on bank deposits. Net financial income for the 2018 period primarily relates to investment income earned on bank deposits. Net financial expenses amounted to $0.9M for the nine months ended September 30, 2019 contrast to net financial income of $0.4M for the nine months ended September 30, 2018. Net financial expenses for the 2019 period primarily relate to interest paid on loans, offset by investment income earned on bank deposits. Net financial income for the 2018 period primarily relates to investment income earned on bank deposits, offset by losses recorded on foreign currency hedging transactions.
The Company’s net loss for the three months ended September 30, 2019 amounted to $3.9M, contrast with a net loss of $6.3M for the comparable period in 2018. The Company’s net loss for the nine months ended September 30, 2019 amounted to $15.6M, contrast with a net loss of $17.3M for the comparable period in 2018.
BLRX plunged -8.96% in past week and declined -7.30% in one month. During the past three-month period the stock dropped -16.45% and decreased -53.48% in past six month while year to date performance of -61.28%.
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