BioLineRx Announces Change to Ratio of American Depositary Shares to Ordinary Shares

Core Viewpoint - BioLineRx Ltd. has announced a change in the American Depositary Shares (ADS) ratio from 15 ordinary shares per ADS to 600 ordinary shares per ADS, effectively a 1-for-40 reverse stock split, aimed at compliance with Nasdaq listing standards [1][2][3] Group 1: ADS Ratio Change - The new ADS to ordinary share ratio of 1 for 600 will take effect before trading on January 30, 2025, reducing the number of outstanding ADSs from 142,340,133 to 3,558,503 [1][2] - The change is expected to increase the trading price of the ADSs by the same multiple, enhancing their suitability for trading on the Nasdaq Capital Market [2][3] Group 2: Financial Position - BioLineRx has $29.5 million in cash, providing a runway through the second half of 2026, with an annual operating burn of approximately$12 million [3] - The funds will support the ongoing development of motixafortide in pancreatic cancer and pipeline expansion activities [3] Group 3: Compliance and Strategy - The ratio change is designed to address Nasdaq's low-priced stock rule and ensure compliance with listing standards [3] - Maintaining the Nasdaq exchange listing is critical for the company's long-term strategy, which includes potential in-licensing of new assets [3] Group 4: Shareholder Impact - Holders of ordinary shares traded on the Tel Aviv Stock Exchange will not be affected by the new ADS ratio [3] - No fractional ADSs will be issued; instead, holders will receive cash payments for any fractional shares [4]