Core Insights - BioLineRx Ltd. has successfully secured formulary placement for its APHEXDA® product among the top 80 transplant centers, representing approximately 37% of stem cell transplant procedures, exceeding its quarterly goal and aiming for 60% by the end of 2024 [1][2][4] - The company has doubled the number of centers ordering APHEXDA in the second quarter, indicating strong commercial momentum and recognition of its value compared to other mobilization agents [2][4] - BioLineRx has entered into a clinical trial agreement with St. Jude Children's Research Hospital to evaluate motixafortide for hematopoietic stem cell mobilization in gene therapies for sickle cell disease [3][4] APHEXDA Launch Updates - The formulary placement at transplant centers has surpassed the company's goal, with a target of reaching 60% by year-end 2024 [1][4] - The number of centers ordering APHEXDA has doubled in the second quarter compared to the first quarter, contributing to a 100% quarter-over-quarter net revenue growth [4][6] - The ongoing clinical trial collaboration with St. Jude Children's Research Hospital aims to evaluate APHEXDA for stem cell mobilization in patients with sickle cell disease [3][4] Clinical Portfolio Updates - A Phase 1 clinical trial is being conducted at Washington University in St. Louis to evaluate motixafortide for stem cell mobilization in sickle cell disease, with initial data expected in 2025 [3][4] - Positive biopsy data from the CheMo4METPANC Phase 2b clinical trial for pancreatic cancer has shown a significant increase in CD8+ T-cell density [5] - The company anticipates the initiation of a pivotal clinical trial in China for motixafortide in combination with standard chemotherapy for metastatic pancreatic cancer in 2025 [5] Financial Results - Total revenue for the second quarter of 2024 was $5.4 million, a significant increase from no revenue recorded in the same period of 2023 [6] - The cost of revenue for the quarter was $0.9 million, primarily reflecting amortization of intangible assets and royalties on APHEXDA sales [6] - The company reported a net income of $0.5 million for the second quarter of 2024, compared to a net loss of $18.5 million in the same period of 2023 [6][15] Cash Position - As of June 30, 2024, BioLineRx had cash, cash equivalents, and short-term bank deposits totaling $40.1 million, which is expected to fund operations into 2025 [6][17]
BioLineRx Reports Second Quarter 2024 Financial Results and Recent Corporate and Portfolio Updates