BioLineRx Ltd (BLRX): BioLineRx perks up; shares ahead over 30...

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Wednesday, 08/24/2016 11:53:33 AM

Wednesday, August 24, 2016 11:53:33 AM

BioLineRx perks up; shares ahead over 30% in August

Aug 24 2016, 11:48 ET | About: BioLineRx Ltd. (BLRX) | By: Douglas W. House, SA News Editor

*Thinly traded nano cap BioLineRx (BLRX +11.5%) shows some life that may signal an end to the extended downtrend that began last summer. Shares are up ~33% since the most recent low of $0.75 on August 5.

*Complete data from a Phase 2a study evaluating lead product candidate BL-8040 in relapsed/refractory acute myeloid leukemia (AML) will be presented at the Society of Hematologic Oncology annual meeting in Houston, TX, September 7 - 10.

*BL-8040 is a synthetic peptide that binds to a protein found on the surface of cancer cells called CXCR4, a chemokine receptor that that plays a key role in tumor growth and survival. CXCR4 is overexpressed in more than 70% of human cancers and is associated with a poor prognosis.

*The company also announced the commercial launch of BL-5010, an OTC topical medication for the nonsurgical removal of skin lesions, in Q2. It will be marketed by Perrigo's Omega Pharma unit.