BioLineRx’s Strong Quarter with APHEXDA Growth

Bioline RX Ltd Sponsored ADR (BLRX) has released an update.

BioLineRx Ltd. reports a strong second quarter in 2024 with significant progress for APHEXDA, their stem cell mobilization agent, achieving formulary placement in around 37% of top transplant centers and doubling its ordering centers. The company also announced a new clinical trial with St. Jude Children’s Research Hospital to evaluate APHEXDA’s use in gene therapy for sickle cell disease, aiming to enhance treatment availability and efficiency. Financially, BioLineRx saw a net income turnaround from the previous year’s loss, underpinned by a substantial increase in net revenue and a promising cash reserve extending into 2025.

For further insights into BLRX stock, check out TipRanks’ Stock Analysis page.