TEL AVIV - BioLineRx Ltd. (NASDAQ:TASE: BLRX), a biopharmaceutical company, has announced that it will present new data from its Phase 3 GENESIS trial on APHEXDA® (motixafortide) at the 2024 Tandem Meetings of the American Society for Transplantation and Cellular Therapy (ASTCT) and the Center for International Blood and Marrow Transplant Research (CIBMTR) in San Antonio, Texas.
The upcoming presentations will focus on pharmacokinetic and pharmacodynamic data, as well as post-hoc subgroup analyses, related to motixafortide's use in mobilizing CD34+ hematopoietic stem cells for patients with multiple myeloma. The GENESIS trial was a randomized, double-blind, placebo-controlled study that assessed the safety and efficacy of APHEXDA in combination with filgrastim, compared to a placebo plus filgrastim, for stem cell mobilization.
The trial results suggested a consistent benefit of motixafortide plus G-CSF over placebo plus G-CSF for all patients, including those with impaired HSC mobilization. These findings will be detailed in poster presentations by Dr. Zachary D. Crees and Dr. Ella Sorani on Thursday, February 22, 2024.
Multiple myeloma is a type of blood cancer that affects plasma cells in the bone marrow. The American Cancer Society estimates that in 2024, over 35,000 individuals will be diagnosed with the disease in the U.S., and nearly 13,000 may die from it. Stem cell mobilization is a critical step in autologous transplantation, a treatment option for multiple myeloma patients.
APHEXDA, a CXCR4 antagonist, has been indicated for use with filgrastim to mobilize hematopoietic stem cells to the peripheral blood for collection and subsequent autologous transplantation in these patients. The drug's safety profile includes warnings for anaphylactic shock and hypersensitivity reactions, and it is contraindicated in patients with a history of serious hypersensitivity reactions to motixafortide.
BioLineRx, headquartered in Israel with operations in the U.S., is focused on developing and commercializing novel therapeutics for oncology and rare diseases.
The company's information is based on a press release statement.
InvestingPro Insights
As BioLineRx Ltd. (NASDAQ:TASE: BLRX) prepares to present new data at the Tandem Meetings, investors may be looking at the company's financial health and stock performance with a keen eye. According to the latest metrics from InvestingPro, BioLineRx has a market capitalization of approximately $83.36 million USD. Despite the company's innovative strides in the biopharmaceutical field, the adjusted Price to Earnings (P/E) ratio for the last twelve months as of Q3 2023 stands at -1.59, reflecting the company's current lack of profitability.
InvestingPro Tips for BLRX indicate that the company holds more cash than debt on its balance sheet, which can be a positive sign for investors looking for financial stability. However, the company is quickly burning through cash and suffers from weak gross profit margins. Additionally, analysts do not anticipate the company will be profitable this year, and net income is expected to drop.
The company's stock has seen significant volatility, with a 1-year price total return of 81.33%, highlighting the high-risk, high-reward nature of investing in biopharmaceutical ventures. The stock has fared poorly over the last month, with a -19.93% return, and it is trading at a high Price / Book multiple of 6.36.
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