BioLineRx Ltd (NASDAQ:BLRX) Stock Falls After Quarterly Earnings
Last stage biopharmaceutical firm BioLineRx Ltd (NASDAQ: BLRX) was in focus in the markets on Thursday after the company announced its financial results for the third fiscal quarter that had concluded on September 30, 2021.
Market Stats
On Thursday, BLRX stock slumped 3.97% to $2.6600 with more than 451.52K shares, compared to its average volume of 348.39K shares. The stock has moved within a range of $2.6500 – 2.8100 after opening trade at $2.7900.
Earnings Review
The financial results from the company did not seem to quite impress investors and the oncology focussed company saw its stock end the day with a decline of 3%. In this situation, it might be a good idea for investors to take a closer look at some of the key numbers from the financial results.
In the third quarter, the company spent as much as $4.9 million towards research and development and that reflected a year on year rise of 41.3% from the $3.5 million that it had spent in the prior year period. On the other hand, the research and development expenses for the first nine month of the year that ended on September 30, 2021 came in at $14.3 million.
That reflected a year on year rise of $0.8 million. The operating losses for the quarter stood at $6.2 million and that was a significant rise in losses from the $4.6 million in operating losses in the prior year period.
Key Quote
“The key highlight since our last quarterly update was the statistically significant positive results from a pharmacoeconomic study of Motixafortide in stem cell mobilization for multiple myeloma patients,” stated Philip Serlin, Chief Executive Officer of BioLineRx. “The study demonstrated that use of Motixafortide on top of G-CSF resulted in a net cost savings of $17,000 per patient, not including the cost of Motixafortide, driven by fewer doses of G-CSF and a reduction in the number of apheresis sessions and related costs, versus G-CSF alone. These cost savings should leave substantial room in the future to optimize our pricing strategy for Motixafortide at product launch and thereafter, if approved.
Traders Corner
BLRX stock is trading below the 20-Day and 50-Day Moving averages of $2.81 and $2.79 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.97. The stock is down 8% in the past month.
In Other News
Wearable Health Solutions Inc (OTCMKTS:WHSI) Nanocap investors should also look at WHSI, who manufacturers medical alarm devices used to summon help in the event of an emergency for users. Their products and innovative solutions are designed and marketed primarily to the elderly, physically disabled, and individuals living alone. WHSI is forecasting sales of $5.87 million for the full year 2022.
