There is really a lot of fundamental stuff around beside the "feeling" that this could unfold as a first class investment, short term, medium term and long term.
There is much noise about its BL1020 - but BL1020 has a big brother - BL1040 in phase III EU trial.
Most investors do not see the BL1040 project which is outlicenced to Ikaria (prvention of remodeling of heart tissue after myocard infarct). BLRX gets 15 % of royalties, the potential market therefore is in the billions (PR of BLRX) AND the PIII EU pivotal data will be available in October 2013 (FDA Trial Homepage, search for Ikaria IK5001=BL1040).
Given we get good PIII Data for BL1040 (Prevention of heart tissue remodelling) and we do a simple math with BL1040 revenue of 500 mio usd per year (both companies spoke from billions, not only 500 mio), then BLRX gets 15% of 500 mio = 75 mio, divided by 15 mio shares = 5 usd/share x 15 = 75 usd PPS contribution alone from BL1040.
So, our tiny market cap will not persist on the long run ...... once BL1040 gets more visibility approaching the PIII data in H2 2013.