BioLineRx Ltd (BLRX)

[Spideyboy]

Just checking my numbers again on the cash runway, and it would be likely longer than I mentioned.

Cash at the moment as expected, but;

end Q2: cash 43 million
Q3 burn of 7 million (= 36 million)
Q3 direct offering +15 million (=51 million)
[Q3 also set a debt financing of 40 million)]
end Q3: cash 57 million (so I assume already took 6 million from the debt financing)
Q4: cash burn I assume about 6 million, but we have not data from the PR nor filing.
end Q4: cash 51 million

If the above is correct then they would still also have about some millions more to draw from the debt financing agreement. Readying commercialisation could cost about 40 million given the small footprint and easier targeting they have.

One hiccup in all this, is that the latest PR and filing doesn't actually inform of the burn, nor if this 51 million ending Q4 cash thus comprises of a higher amount debt already drawn down to make up for the unknown burn, which would reduce the amount to draw down on.

Just listening to the webcast and Phil has mentioned they have invested considerably in their launch activities and building a world class sales team. Hence it would seem they do have some millions to draw down but not the 34 they could have remained.

But they are likely in better financial straights that I had thought in my prior post. My apologies.

This would also make sense with the company guidance that the current funds should last into 2Q 2024. Well past expected approval.