Roth Keeps BioLineRx (BLRX) at 'Buy'; Sees BL-8040 Plan Progressing Nicely Following Recent Update
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Roth Capital affirms BioLineRx Ltd. (Nasdaq: BLRX) at Buy with a price target of $8 following the company's investor meeting this week and presented its multi-year plan for development of its CXCR4 antagonist, BL-8040.
Analyst Joseph Pantginis said, We believe BLRX is proceeding wisely with development of BL-8040, implementing a cost-effective collaborative plan to expand this drug's profile in AML and beyond. As a CXCR4 antagonist that shows efficient preferential mobilization of AML blasts, we believe there is opportunity for use of BL-8040 in various hematological settings. The plan outlined by BLRX represents important steps in this direction following the ongoing Phase IIa study in r/r AML and Phase I study in stem cell mobilization in healthy individuals. Topline data from these two trials are expected in 1Q15. The plan is also cost effective as all these studies are done in collaboration with medical centers, which will reduce study costs for BLRX and allow it to pursue these additional indications with cash sufficient to run operations through the end of 2016.
For an analyst ratings summary and ratings history on BioLineRx click here. For more ratings news on BioLineRx click here.
BioLineRx closed at $1.83 yesterday.
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