) reported full year 2013 loss of 8 cents per share, narrower
than the 2012 loss of 12 cents per share. The Zacks Consensus
Estimate was a loss of 74 cents per share.
The company did not record any revenues during the year
Year in Detail
Research and development expenses declined 31% year over year
to $12.7 million mainly due to the termination of the CLARITY
study on BL-1020 in Mar 2013. General and administrative expenses
decreased 6% year over year to $3.8 million due to one-time
expenses for professional services incurred in 2012. Selling and
marketing expenses increased 28% year over year to $1.2 million
due to rising business development activities, and professional
services relating to the collaboration agreement signed with JHL
BioLineRx is evaluating BL-8040 for the indication of acute
myeloid leukemia (AML) and other hematological indications,
including stem cell mobilization. BL-8040 is in phase II
for the treatment AML with results expected at the end of 2014 or
early 2015. The phase I trial for the treatment of stem cell
mobilization is expected to start in the first half of 2014 with
results expected in the second half of 2014. The U.S. Food and
Drug Administration (FDA) granted an orphan drug designation to
BL-8040 for the treatment of stem cell mobilization and AML.
Another candidate, BL-7010 is being evaluated for the
treatment of celiac disease. Recently, BioLineRx announced the
successful completion of the single administration,
dose-escalation stage of the ongoing phase I/II study on BL-7010.
The repeated administration stage of the study will soon be
initiated. In this stage of the study, patients will receive
either BL-7010 or placebo thrice per day for a period of two
weeks. Top-line results from the phase I/II study will be out in
BioLineRx entered into three collaboration agreements in 2013,
which include deals with JHL Biotech for BL-9020, Genoscience and
Panmed for BL-8020 and CTTQ for BL-8030.
BioLineRx carries a Zacks Rank #2 (Buy). The year 2013 saw
significant effort in therapeutic areas of oncology and
immunology through collaboration agreements and an emphasis on
clinical-stage programs. BioLineRx' two lead pipeline candidates
are BL-8040 and BL-7010.
Investors looking for better-ranked stocks in the biopharma
sector may consider companies like
Questcor Pharmaceuticals, Inc.
), all of which carry a Zacks Rank #1 (Strong Buy).
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