BioLineRx Ltd. (NASDAQ: BLRX) is having a great start tot he trading session this morning, and for good reason. The company announced positive clinical data, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from BLRX stock as a result; and
- what we’ll be watching for ahead.
BLRX Stock Gains On Clinical Data
As mentioned above, BioLineRx is having a great day in the market today after announcing positive clinical data. The announcement came by way of press release early this morning.
In the press release, BLRX announced that hematopoietic stem cells mobilized by BL-8040 in combination with granulocyte colony-stimulating fator (G-CSF) were successfully engrafted in all 11 patients participating in the Part 1, lead-in period of the GENESIS trial.
The GENESIS trial is a double-blind, placebo-controlled Phase 3 trial comparing BL-8040 and G-CSF to G-CSF alone. The treatment is being assessed for the mobilization of HSCs for autologous transplantation in multiple myeloma patients.
The data follows previously announced successful mobilization data which led to the DMC recommending proceeding to the randomized placebo-controlled Part 2 of the study. In a statement, John F. DiPersio, Chief of the Division of Oncology at the Washington University School of Medicine, and lead investigator of the study, had the following to offer about the data released by BLRX:
Autologous HSC transplantation in multiple myeloma has been shown to improve overall survival compared to conventional chemotherapy. However, the effectiveness of the treatment relies, in part, upon the ability to collect an adequate amount of HSCs, typically obtained from peripheral blood. Current practice involves mobilizing HSCs from the bone marrow to the peripheral blood, after which the cells are collected by apheresis. Results so far show that mobilizing HSCs with a single BL-8040 dose combined with G-CSF is highly effective compared to using G-CSF alone, which typically requires up to 8 injections and multiple apheresis days. Furthermore, engraftment of the cells in all evaluable patients was successful. This is a very encouraging result which, if corroborated in the placebo-controlled part of the trial, will be of great value to patients as well as to the medical community.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to BioLineRx, the news proved to be overwhelmingly positive.
After all, the strong clinical data brings the company one step closer to a New Drug Application surrounding the treatment. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:52), BLRX is trading at $0.46 per share after a gain of $0.032 per share or 7.38% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to continue to keep a close eye on BLRX. In particular, we’re interested in following this late-stage study closely as it could lead to a New Drug Application being submitted. Nonetheless, w’ell continue to follow the story closely and bring the news to you as it breaks!
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