BioLineRx (BLRX) Misses Q1 EPS by 2c

BioLineRx (NASDAQ: BLRX) reported Q1 EPS of ($0.10), $0.02 worse than the analyst estimate of ($0.08).

Kinneret Savitsky, Ph.D., CEO of BioLineRx, remarked, “During the first quarter of 2016, we made significant progress in advancing BL-8040, our lead oncology platform. We announced successful results in our Phase 2a study for relapsed and refractory AML and we continue to push forward in our Phase 2b trial in an earlier treatment line for AML - as a consolidation treatment following standard induction treatment. We also announced our entering into the exciting field of immuno-oncology, through our collaboration with Merck on a Phase 2a study to investigate BL-8040 in combination with KEYTRUDA® for the treatment of pancreatic cancer. In addition, we are progressing with our strategic collaboration with Novartis for the co-development of selected Israeli-sourced novel drug candidates. Novartis has flagged several pre-clinical projects, which we intend to bring into our pipeline over the next few months. With $45 million of cash on our balance sheet as of the end of the first quarter, we are well positioned to carry out our strategic and operational plans through the end of 2018, and look forward to achieving our expected milestones during the second half of 2016.”

For earnings history and earnings-related data on BioLineRx (BLRX) click here.

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