BioLineRx Reports 2024 Financial Results and Provides Corporate Update
BioLineRx (NASDAQ: BLRX) reported its 2024 financial results and corporate updates. The company executed a transformational licensing agreement with Ayrmid Pharma for APHEXDA庐 (motixafortide), receiving a $10 million upfront payment with potential for up to $87 million in commercial milestones and 18-23% royalties on net sales.
Key financial highlights include:
- Revenues increased 502.1% to $28.9 million in 2024
- Net loss decreased to $9.2 million from $60.6 million in 2023
- Completed financings raising $19 million
- Reduced operating expenses by 70%
- Extended cash runway through H2 2026
The company achieved 10% market share for APHEXDA in total CXCR4 inhibitor usage in the U.S., generating over $6 million in net product sales before the Ayrmid transaction. BioLineRx is now focusing on in-licensing new assets in oncology and rare diseases, while advancing ongoing clinical trials including the CheMo4METPANC Phase 2b trial and SCD gene therapy studies.
BioLineRx (NASDAQ: BLRX) ha riportato i risultati finanziari e gli aggiornamenti aziendali per il 2024. L'azienda ha stipulato un accordo di licenza trasformativo con Ayrmid Pharma per APHEXDA庐 (motixafortide), ricevendo un pagamento iniziale di 10 milioni di dollari con la possibilit脿 di arrivare fino a 87 milioni di dollari in traguardi commerciali e royalties tra il 18% e il 23% sulle vendite nette.
Le principali evidenze finanziarie includono:
- I ricavi sono aumentati del 502,1% a 28,9 milioni di dollari nel 2024
- La perdita netta 猫 diminuita a 9,2 milioni di dollari rispetto ai 60,6 milioni di dollari nel 2023
- Finanziamenti completati per un totale di 19 milioni di dollari
- Riduzione delle spese operative del 70%
- Estensione della liquidit脿 fino alla seconda met脿 del 2026
L'azienda ha raggiunto una quota di mercato del 10% per APHEXDA nell'uso totale degli inibitori CXCR4 negli Stati Uniti, generando oltre 6 milioni di dollari in vendite nette di prodotto prima della transazione con Ayrmid. BioLineRx si sta ora concentrando sull'acquisizione di nuovi asset in oncologia e malattie rare, mentre prosegue gli studi clinici in corso, inclusi il trial di fase 2b CheMo4METPANC e gli studi di terapia genica SCD.
BioLineRx (NASDAQ: BLRX) inform贸 sobre sus resultados financieros y actualizaciones corporativas para 2024. La compa帽铆a ejecut贸 un acuerdo de licencia transformador con Ayrmid Pharma para APHEXDA庐 (motixafortide), recibiendo un pago inicial de 10 millones de d贸lares con el potencial de alcanzar hasta 87 millones de d贸lares en hitos comerciales y regal铆as del 18% al 23% sobre las ventas netas.
Los aspectos financieros clave incluyen:
- Los ingresos aumentaron un 502,1% a 28,9 millones de d贸lares en 2024
- La p茅rdida neta se redujo a 9,2 millones de d贸lares desde 60,6 millones de d贸lares en 2023
- Financiamientos completados por un total de 19 millones de d贸lares
- Reducci贸n de los gastos operativos en un 70%
- Extensi贸n de la liquidez hasta la segunda mitad de 2026
La compa帽铆a logr贸 una participaci贸n de mercado del 10% para APHEXDA en el uso total de inhibidores CXCR4 en EE. UU., generando m谩s de 6 millones de d贸lares en ventas netas de productos antes de la transacci贸n con Ayrmid. BioLineRx ahora se est谩 enfocando en la adquisici贸n de nuevos activos en oncolog铆a y enfermedades raras, mientras avanza en los ensayos cl铆nicos en curso, incluidos el ensayo de fase 2b CheMo4METPANC y los estudios de terapia g茅nica SCD.
BioLineRx (NASDAQ: BLRX)電� 2024雲� 鞛 瓴瓣臣 氚� 旮办梾 鞐呺嵃鞚错姼毳� 氤搓碃頄堨姷雼堧嫟. 鞚� 須岇偓電� APHEXDA庐(motixafortide)鞐� 雽�頃� Ayrmid Pharma鞕� 氤�順侅爜鞚� 霛检澊靹犾姢 瓿勳暯鞚� 觳搓舶頃橃榾鞙茧┌, 1觳滊 雼煬鞚� 靹犽秷旮堨潉 靾橂牴頃橁碃 斓滊寑 8觳�7氚彪 雼煬鞚� 靸侅梾鞝� 鞚挫爼響滌檧 靾滊Г於滌潣 18-23% 搿滌棿韹� 臧�電レ劚鞚� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
欤检殧 鞛 頃橃澊霛检澊韸鸽姅 雼れ潓瓿� 臧欖姷雼堧嫟:
- 2024雲� 靾橃澋鞚� 502.1% 歃濌皜頃橃棳 2,890毵� 雼煬鞐� 雼枅鞀惦媹雼�.
- 靾滌啇鞁れ澊 2023雲� 6,060毵� 雼煬鞐愳劀 920毵� 雼煬搿� 臧愳唽頄堨姷雼堧嫟.
- 1,900毵� 雼煬鞚� 鞛愱笀鞚� 臁半嫭頄堨姷雼堧嫟.
- 鞖挫榿 牍勳毄鞚� 70% 欷勳榾鞀惦媹雼�.
- 2026雲� 頃橂皹旮瓣箤歆� 順勱笀 鞙犽彊靹膘潉 鞐办灔頄堨姷雼堧嫟.
須岇偓電� 氙戈淡鞐愳劀 CXCR4 鞏奠牅鞝� 靷毄鞚� 10% 鞁滌灔 鞝愳湢鞙潉 雼劚頄堨溂氅�, Ayrmid 瓯半灅 鞚挫爠鞐� 600毵� 雼煬 鞚挫儊鞚� 靾滌牅頀� 韺愲Г毳� 靸濎劚頄堨姷雼堧嫟. BioLineRx電� 順勳灛 膦呾枒頃� 氚� 頋穩 歆堩櫂鞐愳劀 靸堧鞖� 鞛愳偘鞚� 鞚�-霛检澊靹检嫳頃橂姅 雿� 歆戩頃橁碃 鞛堨溂氅�, CheMo4METPANC 2b 雼硠 鞁滍棙 氚� SCD 鞙犾爠鞛� 旃橂 鞐瓣惮毳� 韽暔頃� 歆勴枆 欷戩澑 鞛勳儊 鞁滍棙鞚� 於旍頃橁碃 鞛堨姷雼堧嫟.
BioLineRx (NASDAQ: BLRX) a publi茅 ses r茅sultats financiers et ses mises 脿 jour d'entreprise pour 2024. La soci茅t茅 a conclu un accord de licence transformationnel avec Ayrmid Pharma pour APHEXDA庐 (motixafortide), recevant un paiement initial de 10 millions de dollars avec un potentiel allant jusqu'脿 87 millions de dollars en jalons commerciaux et des redevances de 18 脿 23 % sur les ventes nettes.
Les principaux points financiers incluent :
- Les revenus ont augment茅 de 502,1 % pour atteindre 28,9 millions de dollars en 2024
- La perte nette a diminu茅 脿 9,2 millions de dollars contre 60,6 millions de dollars en 2023
- Financements compl茅t茅s d'un montant de 19 millions de dollars
- R茅duction des d茅penses d'exploitation de 70 %
- Extension de la liquidit茅 jusqu'au second semestre 2026
L'entreprise a atteint une part de march茅 de 10 % pour APHEXDA dans l'utilisation totale des inhibiteurs CXCR4 aux 脡tats-Unis, g茅n茅rant plus de 6 millions de dollars en ventes nettes de produits avant la transaction avec Ayrmid. BioLineRx se concentre d茅sormais sur l'acquisition de nouveaux actifs en oncologie et en maladies rares, tout en faisant progresser les essais cliniques en cours, y compris l'essai de phase 2b CheMo4METPANC et les 茅tudes de th茅rapie g茅nique SCD.
BioLineRx (NASDAQ: BLRX) hat seine finanziellen Ergebnisse und Unternehmensupdates f眉r 2024 ver枚ffentlicht. Das Unternehmen hat einen transformierenden Lizenzvertrag mit Ayrmid Pharma f眉r APHEXDA庐 (motixafortide) abgeschlossen und eine Vorauszahlung von 10 Millionen Dollar erhalten, mit dem Potenzial von bis zu 87 Millionen Dollar an kommerziellen Meilensteinen und 18-23% Lizenzgeb眉hren auf den Nettoumsatz.
Wichtige finanzielle H枚hepunkte sind:
- Die Einnahmen stiegen um 502,1% auf 28,9 Millionen Dollar im Jahr 2024
- Der Nettoverlust verringerte sich auf 9,2 Millionen Dollar von 60,6 Millionen Dollar im Jahr 2023
- Abgeschlossene Finanzierungen in H枚he von 19 Millionen Dollar
- Die Betriebskosten wurden um 70% gesenkt
- Die Liquidit盲t wurde bis zur zweiten H盲lfte von 2026 verl盲ngert
Das Unternehmen erreichte einen Marktanteil von 10% f眉r APHEXDA bei der gesamten Nutzung von CXCR4-Inhibitoren in den USA und generierte vor der Ayrmid-Transaktion 眉ber 6 Millionen Dollar an Nettoproduktverk盲ufen. BioLineRx konzentriert sich nun auf die Lizenzierung neuer Verm枚genswerte in der Onkologie und bei seltenen Krankheiten, w盲hrend es laufende klinische Studien, einschlie脽lich der CheMo4METPANC Phase 2b-Studie und der SCD-Gentherapiestudien, vorantreibt.
- Secured $10M upfront payment and potential $87M in milestones from Ayrmid licensing deal
- Revenue increased 502.1% to $28.9M in 2024
- Reduced net loss significantly from $60.6M to $9.2M
- 70% reduction in operating expenses extends cash runway through H2 2026
- APHEXDA achieved 10% market share with $6M in net product sales
- Shutdown of U.S. commercial operations
- Increased financial expenses to $7.3M from $0.1M in 2023
- One-time $4.0M charge to interest expense for loan amendment
- Extended timeline for CheMo4METPANC trial completion to 2027
Insights
BioLineRx's strategic pivot demonstrates meaningful financial improvement, with
The company's 70% reduction in operating expenses through U.S. commercial operations shutdown represents disciplined capital allocation, extending cash runway through H2 2026. With
The strategic shift to in-licensing additional assets leverages the company's core development strengths while addressing the high costs of commercialization. This asset-light model could generate better returns on invested capital as the company advances candidates through clinical proof-of-concept before potential out-licensing. The debt restructuring further strengthens the balance sheet, removing near-term financial constraints and positioning BioLineRx for disciplined growth in its targeted therapeutic areas.
BioLineRx's patent extension for motixafortide through December 2041 significantly enhances the asset's long-term value proposition and strengthens the company's intellectual property foundation. The robust royalty structure (18-23%) in the Ayrmid agreement reflects the recognized clinical value of APHEXDA, which achieved 10% market share against established CXCR4 inhibitors despite its recent launch.
The clinical pipeline shows continued momentum with the CheMo4METPANC Phase 2b trial in pancreatic cancer and emerging data in stem cell mobilization for gene therapies. Particularly noteworthy are the initial results from the Phase 1 trial in sickle cell disease, which suggest motixafortide's potential to enable sufficient stem cell collection within a single apheresis cycle 鈥� addressing a critical limitation in current gene therapy approaches.
The company's return to its development roots with a focus on oncology and rare diseases represents a targeted approach that leverages its proven expertise in these areas. The intent to in-license additional assets indicates a pipeline expansion strategy that could diversify risk while building on established development capabilities. This focused therapeutic strategy in high-value areas, combined with the potential for milestone payments and royalties from existing partnerships, creates multiple paths to value creation beyond the current pipeline.
- Reports meaningful progress in the evaluation of assets for potential in-licensing and development in the areas of oncology and rare diseases -
- Executed license agreement with Ayrmid Pharma Ltd. for APHEXDA庐 (motixafortide) with
- Completed financings raising combined gross proceeds of
- Management to host conference call today, March 31st, at 8:30 am EDT -
"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庐 (motixafortide) in all non-solid-tumor indications and all territories other than
"As we return to our roots as a lean drug development company, with a highly validated development platform focused on oncology and rare diseases, we believe these actions help ensure that we remain nimble and capable of seizing the opportunities in front of us. Our strategy moving forward is to in-license additional assets over the next year that we can advance through clinical proof-of-concept, funded in part by milestones and royalties from our out-licensing transactions. To that end, I am pleased to report that we are evaluating numerous promising candidates. This process is methodical and steady to ensure that our due diligence is thorough as we look for new chemical entities. Based on our deep and validated experience in drug development, I believe we are well positioned to create sustained value for our shareholders. I am excited about what the future holds for our Company this year and beyond," Mr. Serlin concluded.
Corporate Updates
- Executed license agreement with听Ayrmid Pharma Ltd. to develop and commercialize APHEXDA庐 (motixafortide) in all indications except solid tumors, and across all territories except
Asia
- License agreement included a$10 million $87 million 18% to23% - Announced receipt of a Notice of Allowance from the
U.S. Patent & Trademark Office (USPTO) for a patent, titled "Composition of BL-8040," which strengthens BioLineRx's robust intellectual property (IP) estate and extends its patent protection on motixafortide (BL-8040) in theU.S. through December 2041
Financial Updates
- Completed two听financings in past few months which raised combined gross proceeds of
$19 million - Reduced operating expense run rate by approximately
70% beginning January 1, 2025 through the听APHEXDA program transfer to Ayrmid and the resulting shutdown of the Company'sU.S. commercial operations in Q424, as well as additional headcount and other operating expense reductions - Significantly reduced outstanding debt and restructured the remainder on favorable terms to the Company
APHEXDA 2024 Performance Update
- Aphexda achieved 10 percent market share of total CXCR4 inhibitor usage in the
U.S. , which compares APHEXDA to branded MOZOBIL and generic plerixafor in all indications - BioLineRx generated more than
$6 million
Clinical Updates
Motixafortide
Pancreatic Ductal Adenocarcinoma (mPDAC)
- Additional trial sites activated for the CheMo4METPANC Phase 2b clinical trial being led by Columbia University. Full enrollment in the randomized trial targeting 108 patients is anticipated in 2027, with a听prespecified interim futility analysis planned when
40% of PFS events are observed听 听
Sickle Cell Disease (SCD) & Gene Therapy
- First patient dosed in the multi-center Phase 1 clinical trial evaluating听motixafortide for the mobilization of CD34+ hematopoietic stem cells (HSCs) used in the development of gene therapies for patients with Sickle Cell Disease (SCD). The trial is sponsored by St. Jude Children's Research Hospital.
- Oral presentation delivered at the 66th听American Society of Hematology (ASH) Annual Meeting & Exposition detailing initial results from a Phase 1 clinical trial evaluating motixafortide as monotherapy and in combination with natalizumab for CD34+ hematopoietic stem cell (HSC) mobilization for gene therapies in SCD. Sponsored by investigators at
Washington University inSt. Louis , the findings from this proof-of-concept study suggest motixafortide alone, and in combination with natalizumab, could support the collection of the large number of stem cells required by gene therapies for sickle cell disease within a single apheresis cycle.
Financial Results for the Year Ended December 31, 2024
- Revenues for the year ended December 31, 2024 were
$28.9 million $24.1 million 502.1% , compared to$4.8 million $15.0 million $6.0 million U.S. The revenues in 2023 (all of which were recorded in the fourth quarter of 2023) primarily reflect a portion of the up-front payment received under the Gloria license of$4.6 million $0.2 million U.S. - Cost of revenues for the year ended December 31, 2024 were
$9.3 million $5.6 151.4% , compared to$3.7 million U.S. and cost of goods sold on product sales. The cost of revenues in 2023 primarily reflects Biokine's share of the up-front payment received under the Gloria license and of the net sales. - Research and development expenses for the year ended December 31, 2024 were
$9.2 million $3.3 million 26.4% , compared to$12.5 million - Sales and marketing expenses for the year ended December 31, 2024 were
$23.6 million $1.7 million 6.7% , compared to$25.3 million U.S. commercial operations in the fourth quarter of 2024 following the听Ayrmid license. - General and administrative expenses for the year ended December 31, 2024 were
$6.3 million - Net non-operating income amounted to
$18.4 million $10.8 million - Net financial expenses amounted to
$7.3 million $0.1 million $4.0 million - Net loss for the year ended December 31, 2024 was
$9.2 million $60.6 million - As of December 31, 2024, the Company had cash, cash equivalents, and short-term bank deposits of
$19.6 million $29.0 million
A copy of the Company's annual report on Form 20-F for the year ended December 31, 2024 has been filed with the
Conference Call and Webcast Information
To access the conference call, please dial +1-888-281-1167 from the
About BioLineRx
BioLineRx Ltd. (NASDAQ/TASE: BLRX) is a biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases. The Company's first approved product is APHEXDA庐 (motixafortide), with an indication in the
Learn more about who we are, what we do, and how we do it at鈥�, or on鈥�痑苍诲鈥�.鈥�
Forward Looking Statement
Various statements in this release concerning BioLineRx's future expectations constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," and "would," and describe opinions about future events. These include statements regarding management's expectations, beliefs and intentions regarding, among other things, the potential success of the license agreement with Ayrmid and the commercial potential of motixafortide, expectations with regard to clinical trials of motixafortide, the expected cash runway, and BioLineRx's business strategy. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause BioLineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the clinical development, commercialization and market acceptance of BioLineRx's therapeutic candidates, including the degree and pace of market uptake of APHEXDA for the mobilization of hematopoietic stem cells for autologous transplantation in multiple myeloma patients; the initiation, timing, progress and results of BioLineRx's preclinical studies, clinical trials, and other therapeutic candidate development efforts; BioLineRx's ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials, whether the clinical trial results for APHEXDA will be predictive of real-world results; BioLineRx's receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings and approvals; whether access to APHEXDA is achieved in a commercially viable manner and whether APHEXDA receives adequate reimbursement from third-party payors; BioLineRx's ability to establish, manage, and maintain corporate collaborations, as well as the ability of BioLineRx's collaborators to execute on their development and commercialization plans; BioLineRx's ability to integrate new therapeutic candidates and new personnel as well as new collaborations; the interpretation of the properties and characteristics of BioLineRx's therapeutic candidates and of the results obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BioLineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection BioLineRx is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BioLineRx's expenses, future revenues, capital requirements and its needs for and ability to access sufficient additional financing; risks related to changes in healthcare laws, rules and regulations in
Contacts:
Irina Koffler
LifeSci Advisors, LLC
[email protected]
Moran Meir
LifeSci Advisors, LLC
[email protected]
听
听
BioLineRx Ltd. | |||
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | |||
December 31, | |||
2023 | 2024 | ||
in USD thousands | |||
Assets | |||
CURRENT ASSETS | |||
Cash and cash equivalents | 4,255 | 10,436 | |
Short-term bank deposits | 38,739 | 9,126 | |
Trade receivables | 358 | 2,476 | |
Prepaid expenses | 1,048 | 443 | |
Other receivables | 830 | 1,478 | |
Inventory | 1,953 | 3,145 | |
听听听听 听Total current assets | 47,183 | 27,104 | |
NON-CURRENT ASSETS | |||
Property and equipment, net | 473 | 386 | |
Right-of-use assets, net | 1,415 | 967 | |
Intangible assets, net | 14,854 | 10,449 | |
听听听听听听听听听 Total non-current assets | 16,742 | 11,802 | |
听听听听听听听听听 Total assets | 63,925 | 38,906 | |
Liabilities and equity | |||
CURRENT LIABILITIES | |||
Current maturities of long-term loan | 3,145 | 4,479 | |
Contract liabilities | 12,957 | - | |
Accounts payable and accruals: | |||
听听听听 Trade | 10,869 | 5,583 | |
听听听听 Other | 3,353 | 3,131 | |
Current maturities of lease liabilities | 528 | 522 | |
Warrants | 11,932 | 1,691 | |
听听听听听听听听听 Total current liabilities | 42,784 | 15,406 | |
NON-CURRENT LIABILITIES | |||
Long-term loan, net of current maturities | 6,628 | 8,958 | |
Lease liabilities | 1,290 | 1,081 | |
听听听听 听听听听 Total non-current liabilities | 7,918 | 10,039 | |
听 COMMITMENTS AND CONTINGENT LIABILITIES | |||
听听听听听听听听听 Total liabilities | 50,702 | 25,445 | |
EQUITY | |||
Ordinary shares | 31,355 | 38,097 | |
Share premium | 355,482 | 353,693 | |
Warrants | 1,408 | 5,367 | |
Capital reserve | 17,000 | 17,547 | |
Other comprehensive loss | (1,416) | (1,416) | |
Accumulated deficit | (390,606) | (399,827) | |
听听听听听听听听听 Total equity | 13,223 | 13,461 | |
听听听听听听听听听 Total liabilities and equity | 63,925 | 38,906 | |
听
听
BioLineRx Ltd. | |||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | |||||
Year ended December 31, | |||||
2022 | 2023 | 2024 | |||
in USD thousands | |||||
REVENUES: | |||||
听License revenues | - | 4,610 | 22,917 | ||
听听听听 Product sales, net | - | 190 | 6,023 | ||
听听听听听听听听听 Total revenues | - | 4,800 | 28,940 | ||
COST OF REVENUES | - | (3,692) | (9,263) | ||
GROSS PROFIT | - | 1,108 | 19,677 | ||
RESEARCH AND DEVELOPMENT EXPENSES | (17,629) | (12,519) | (9,149) | ||
SALES AND MARKETING EXPENSES | (6,462) | (25,270) | (23,605) | ||
GENERAL AND ADMINISTRATIVE EXPENSES | (5,066) | (6,310) | (6,321) | ||
IMPAIRMENT OF INTANGIBLE ASSETS | - | (6,703) | (1,010) | ||
OPERATING LOSS | (29,157) | (49,694) | (20,408) | ||
NON-OPERATING INCOME (EXPENSES), NET | 5,670 | (10,819) | 18,435 | ||
FINANCIAL INCOME | 694 | 2,068 | 1,871 | ||
FINANCIAL EXPENSES | (2,158) | (2,169) | (9,119) | ||
LOSS AND COMPREHENSIVE LOSS | (24,951) | (60,614) | (9,221) | ||
in USD | |||||
LOSS PER ORDINARY SHARE 鈥� BASIC AND DILUTED | (0.03) | (0.06) | (0.01) | ||
WEIGHTED AVERAGE NUMBER OF SHARES USED IN | 773,956,973 | 963,365,525 | 1,198,107,761 | ||
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听
BioLineRx Ltd. | |||||||
STATEMENTS OF CHANGES IN EQUITY | |||||||
听 Ordinary | 听 Share | 听 听 Warrants | 听 Capital | Other | 听 Accumulated | 听 听 Total | |
in USD thousands | |||||||
BALANCE AT JANUARY 1, 2022 | 21,066 | 339,346 | 975 | 13,157 | (1,416) | (305,041) | 68,087 |
CHANGES IN 2022: | |||||||
听 Issuance of share capital and warrants, net | 6,029 | (1,007) | 433 | - | - | - | 5,455 |
听 Employee stock options exercised | 5 | 14 | - | (14) | - | - | 5 |
听 Employee stock options expired | - | 623 | - | (623) | - | - | - |
听 Share-based compensation听听听 | - | - | - | 2,245 | - | - | 2,245 |
听 Comprehensive loss for the year | - | - | - | - | (24,951) | (24,951) | |
BALANCE AT DECEMBER 31, 2022 | 27,100 | 338,976 | 1,408 | 14,765 | (1,416) | (329,992) | 50,841 |
CHANGES IN 2023: | |||||||
听 Issuance of share capital, net | 3,242 | 10,847 | - | - | - | - | 14,089 |
听 Warrants exercised | 1,000 | 5,559 | - | - | - | - | 6,559 |
听 Employee stock options exercised | 13 | 45 | - | (31) | - | - | 27 |
听 Employee stock options expired | - | 55 | - | (55) | - | - | - |
听 Share-based compensation听听听 | - | - | - | 2,321 | - | - | 2,321 |
听 Comprehensive loss for the year | - | - | - | - | - | (60,614) | (60,614) |
BALANCE AT DECEMBER 31, 2023 | 31,355 | 355,482 | 1,408 | 17,000 | (1,416) | (390,606) | 13,223 |
CHANGES IN 2024: | |||||||
听 Issuance of share capital and warrants, net | 4,712 | (3,060) | 6,650 | - | - | - | 8,302 |
Pre-funded warrants exercised | 2,009 | 682 | (2,691) | - | - | - | - |
听 Employee stock options exercised | 21 | 50 | - | (49) | - | - | 22 |
听 Employee stock options expired | - | 539 | - | (539) | - | - | - |
听 Share-based compensation听听听 | - | - | - | 1,135 | - | - | 1,135 |
听 Comprehensive loss for the year | - | - | - | - | - | (9,221) | (9,221) |
BALANCE AT DECEMBER 31, 2024 | 38,097 | 353,693 | 5,367 | 17,547 | (1,416) | (399,827) | 13,461 |
听
听
BioLineRx Ltd. | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Year ended December 31, | |||
2022 | 2023 | 2024 | |
in USD thousands | |||
CASH FLOWS - OPERATING ACTIVITIES | |||
听听听听 Loss | (24,951) | (60,614) | (9,221) |
听听听听 Adjustments required to reflect net cash used in operating 听听听听听听听听听 activities (see appendix below) | (1,289) | 38,006 | (34,652) |
Net cash used in operating activities | (26,240) | (22,608) | (43,873) |
CASH FLOWS - INVESTING ACTIVITIES | |||
听听听听 Investments in short-term deposits | (44,000) | (47,588) | (26,350) |
听听听听 Maturities of short-term deposits | 48,322 | 49,329 | 55,778 |
听听听听 Purchase of property and equipment | (131) | (116) | (53) |
听听听听 Purchase of intangible assets | (185) | (181) | (1) |
Net cash provided by investing activities | 4,006 | 1,444 | 29,374 |
CASH FLOWS - FINANCING ACTIVITIES | |||
听听听听 Issuance of share capital and warrants, net of issuance costs | 14,359 | 14,089 | 16,357 |
听听听 听Exercise of warrants | - | 2,928 | - |
听听听听 Employee stock options exercised | 5 | 27 | 22 |
Proceeds from long-term loan, net of issuance costs | 9,126 | - | 19,223 |
听听听听 Repayments of loan | (2,832) | (1,543) | (14,433) |
听听听听 Repayments of lease liabilities | (220) | (445) | (511) |
Net cash provided by financing activities | 20,438 | 15,056 | 20,658 |
INCREASE )DECREASE( IN CASH AND CASH 听听听 EQUIVALENTS | (1,796) | (6,108) | 6,159 |
CASH AND CASH EQUIVALENTS - BEGINNING 听听 OF YEAR | 12,990 | 10,587 | 4,255 |
EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | (607) | (224) | 22 |
CASH AND CASH EQUIVALENTS - END OF YEAR | 10,587 | 4,255 | 10,436 |
听
BioLineRx Ltd. | |||||
CONSOLIDATED STATEMENTS OF CASH FLOWS听 | |||||
Year ended December 31, | |||||
2022 | 2023 | 2024 | |||
in USD thousands | |||||
APPENDIX | |||||
Adjustments required to reflect net cash used in operating activities:听 | |||||
Income and expenses not involving cash flows:听 | |||||
Depreciation and amortization | 654 | 1,384 | 4,065 | ||
Exchange differences on cash and cash equivalents | 607 | 224 | (22) | ||
Fair value adjustments of warrants | (6,425) | 11,054 | (18,965) | ||
Share-based compensation | 2,245 | 2,321 | 1,135 | ||
Interest and exchange differences on short-term deposits | (672) | 15 | 185 | ||
Interest on loan | 1,117 | 1,148 | (1,126) | ||
Warrant issuance costs | 171 | - | 669 | ||
Exchange differences on lease liabilities | (224) | (42) | (31) | ||
Intangible assets impairment | - | 6,703 | 1,010 | ||
Loss on abandonment of right-of-use asset | - | - | 246 | ||
(2,527) | 22,807 | (12,834) | |||
Changes in operating asset and liability items: | |||||
Increase in trade receivables听 | - | (358) | (2,118) | ||
Increase in inventory | - | (1,953) | (1,192) | ||
Increase in prepaid expenses and other receivables | (650) | (959) | (43) | ||
Increase (decrease) in accounts payable and accruals | 1,888 | 5,512 | (5,508) | ||
Increase (decrease) in contract liabilities听 | - | 12,957 | (12,957) | ||
1,238 | 15,199 | (21,818) | |||
(1,289) | 38,006 | (34,652) | |||
Supplemental information on interest received in cash | 342 | 2,020 | 1,992 | ||
Supplemental information on interest paid in cash | 593 | 1,111 | 10,387 | ||
Supplemental information on non-cash transactions: | |||||
Changes in right-of-use asset and lease liabilities | 706 | 149 | 327 | ||
Warrant issuance costs | 262 | - | - | ||
Purchase of property and equipment | 28 | - | - | ||
Fair value of exercised warrants (portion related to听accumulated | - | 3,631 | - | ||
听
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SOURCE BioLineRx Ltd.
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