The following is a summary of the BioLineRx Ltd. (BLRX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• BioLineRx reported Q1 2024 revenues of $6.9 million, a significant increase from no recorded revenues in Q1 2023.

• The company earned revenue from the Gloria Biosciences license agreement, milestone payment, and product sales of APHEXDA in the US.

• Cost of revenues for Q1 2024 was $1.5 million, and the net loss was curbed to $0.7 million, down from $12.2 million in Q1 2023.

• The firm maintained cash and equivalents of $28.2 million as of March 31, 2024.

• Gross margin was reported to be well over 90%.

Business Progress:

• Successful commercialization of APHEXDA has been marked by establishing formulary placement in key centers across the US.

• Expansion goals aim to reach 60% formulary placement by end of 2024.

• In collaboration with Gloria Biosciences, a bridging study for APHEXDA approval in China is set for H2 2024.

• Phase 2 trials of motixafortide in pancreatic cancer are underway in partnership with Columbia University and Regeneron.

• Collaboration with Gloria Biosciences will further evaluate motixafortide in Phase 2b trials for pancreatic cancer.

• Continuation of Phase 1 trial for sickle cell disease treatment at Washington University School of Medicine, with data anticipated in H2 2024.

• Active collaboration dialogue with potential partners indicates future project prospects.

• Noteworthy achievement of CMS pass-through status for hospital bundling displays growth in the healthcare sector.

• Assurance of robust drug supply for both commercial and clinical needs provides stable future prospects.

More details: BioLine Rx IR

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