Bioline RX Ltd (NASDAQ:BLRX) Boasts Strong Balance Sheet


Bioline RX Ltd (NASDAQ:BLRX) is an off-the-radar list of biotech stock with a considerable and growing drug pipeline. The company has significant collaborations with Merck & Co., Inc. (NYSE:MRK), Genentech, Inc. and Novartis AG (ADR)(NYSE:NVS). In fact, Novartis owns 9% of company’s common stock while Genentech and Merck look to leverage their medications with Bioline RX’s lead medication, BL-8040.

The company is funded via the close of 2019 with $39 million cash and funds from its agents as well as increasing revenues from an OTC medication licensed to Perrigo. Two experts initiated coverage recently, both with a “Buy” rating and a $3 per share target price.

The buzz

Established in 2003 by Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) and a number of frontrunners in Israeli life sciences, Bioline is a clinical-stage biopharma firm based in Israel. Its core competency is to recognize, in-license, and advance the most promising medication candidates generated by international research organizations, Israel, small biotech start-ups and universities.

These medication candidates have to go through a comprehensive screening procedure to ensure their clinical and technical feasibility as well as commercial potential. Once recognized, a team of professionals in science and drug advancement, regulation and pharmacy, and IP work choose the best candidates to develop them usually via at least a Phase II proof of concept in human beings before looking for medium to large pharmaceuticals.

Through this process, this biotech stock has developed a rich and broad pipeline in various therapeutic areas, primarily in immunology and oncology. For a firm with a market capitalization of about $69 million, Bioline has major collaborations with prime pharma companies. The strategic deal with Novartis is for the co-advancement of selected Israeli-sourced unique drug candidates.

With Merck, the firm is running a Phase IIa trial in pancreatic cancer utilizing the combination of lead compound ‘BL-8040’, and Merck’s ‘KEYTRUDA’. Through collaboration deal with Genentech, the firm assessing the combination of BL-8040 and atezolizumab in numerous Phase 1b trials for numerous solid tumor signs and AML.


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