BioLineRx Ltd (BLRX)

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BioLine RX (BLRX)

https://finance.yahoo.com/news/3-best-biotech-stocks-under-002104696.html

Another one of the best biotech stocks under $1 is BioLine RX (NASDAQ:BLRX). Over the last few days, the stock exploded from a low of about 58 cents to 96 cents. From here, it could see further upside, especially with recent volume spikes. The company says it has enough cash on hand ($51.1 million) to fund operations through the first half of 2024.

Most exciting, the company just announced the U.S. FDA acceptance of its APHEXDA (motixafortide) new drug application (NDA). This is for stem cell mobilization for autologous transplantation in multiple myeloma patients. There’s a PDUFA target date of Sept. 9.

Even better, BLRX just announced a clinical trial collaboration with “Washington University School of Medicine to evaluate motixafortide as monotherapy and in combination with natalizumab for CD34+ hematopoietic stem cell mobilization for gene therapies in sickle cell disease,” as noted in a release. The company anticipates clinical trial initiation in 2023.