BioLineRx Ltd (BLRX)

[Spideyboy]

Shocking! I am saying nothing false at all good sir/madam! If anything your post betrays your lack of experience, as I will expound on below.

I assume you are significantly down on your investment hence the impolite and short retort.

First of all, yes of course there is the initial 180 day grace period, followed by a potential 2nd 180 day grace period, if the exchange is satisfied with other conditions, for example a minimum 50 million dollar Market Cap etc.. (Note BLRX's current NASDAQ MC is at 39 million).

This said however, I have never seen a company go the full 12 months of grace period based on the issue raised being the minimum bid price which is in essence a very small aspect of the ability of a company to stay on the exchange. Hence why I reiterate, in my experience this usually occurs about 3-4 months post the receipt of the notice.

Additionally, per the BioLine PR itself, the company plans to regain compliance on the minimum bid price by the end of the 1st grace period.
https://ir.biolinerx.com/news-releases/news-release-details/biolinerx-announces-receipt-nasdaq-minimum-bid-price
"The Company will continue to monitor the closing bid price of its ADSs on Nasdaq between now and May 1, 2023 and seeks to cure the deficiency within the prescribed compliance period. "

This given we are at the 3 month mark of the initial (6 month) grace period, and there has not been a significant upside to the SP, requiring an approx 50% increase from current levels, then with 3 months left to go until the end of the initial grace period, then I would expect that unless there is materially significant news, there is little reason before May 1st, for there to be a 50% increase. Not including the time required to execute the ADS ratio change (note this is not an actual R/S but an effect like one). Especially since intrinsically things have actually improved within the company's situation since end-September 2022 when the SP initially fell below the 1USD mark.

Again the potential ADS ratio change (R/S) simply being a financial instrument to prop up the Nasdaq SP. The intrinsic value of the company and its assets remain the same. So for the company the decision to do an ADS change (R/S) when the minimum bid price is the only issue is relatively logical, simple and straightforward.

September PDUFA would also be even after the end of the potential 2nd grace period. Thus it would make very little sense for the company to drag out the process, unless of course there is as yet unknown positive news upcoming before these dates.

Wrong sir/madam. The BLRX ADSs are a representation of the ordinary shares that BLRX has on the TASE. Hence a change to the ADS ratio would require the approval of the Board of Directors, Not the share/stockholders. This in effect acting like an R/S on the NASDAQ while the actual number of ordinary shares of the company on the TASE remain unchanged. Clearly there is some experience you are lacking.

PS, I may bring to your attention that BLRX did already do an ADS change (R/S) in June 18 2019. The effect of a 1-for-15 reverse stock split.
https://ir.biolinerx.com/news-releases/news-release-details/biolinerx-announces-change-ratio-american-depositary-shares
" its Board of Directors has approved a change in the number of its ordinary shares represented by American Depositary Shares"
"The change in exchange ratio for the ADSs will have the same effect as a 1-for-15 reverse stock split of the ADSs"
So it's not like management doesn't have recent experience doing this.

Secondly, responding to your second message on the level of cash BLRX has, yes indeed you are quite correct and of course I am aware of this as I am watching the company as I do believe in the product. One would be an idiot not to see the clear clinical benefit of Aphexda. However as you will know of course, the cash position of a company has little weight vis with the SP, as the SP and more importantly the MC reflect more the confidence the market has in the company's situation going forward. So dilutive or non-dilutive, your statement on the cash reserve gives comfort for dealing with things to come but is essentially irrelevant vis MC and the SP, as is obviously evident.

Thirdly, I also find these situations rather amusing, where people believe that presumed +ve and -ve posts on informal chat forums actually have a meaningful impact on SP. Articles on SeekingAlpha being a recognised space for investment advice can cause such issues. But chat boards like Investor'sHub? Surely you can't be serious. With the hundreds of thousands of posts per day it would be incongruous to assume that iHub posts have any impact whatsoever. If so, I could just invest and write positive comments all day. Nonsense. Additionally, you will of course note that I am by far and away not to be the first person to have discussed the potential R/S. And if by some stretch of the imagination you feel the company itself is taking their financial strategic advice from posts on iHub, I do hope for all our sakes that you are mistaken!

Meanwhile, while I appreciate you may disagree with any statement made in any post, please observe a minimum level of decorum as befits strangers communicating on an open platform. Nothing I have said is false in any manner whatsoever, who knows it seems like you may have even learnt something new. You're welcome.

Finally, in evidence and in my most recent R/S experience to boot, which fellow poster Midas can corroborate, Protalix Biotherapeutics received a minimum bid notice in August 2019, and 4 months later December 2019 they executed their R/S.

So yes, what I mentioned was based on my experience and nothing I have said is false. If there are things where you yourself don't know what you're talking about I might ask you to please refrain from putting forward unfounded negative drivel.

Thank you.