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BioLineRx's Pipeline Holds Promise

Zacks Equity Research

BioLineRx Ltd.’s (BLRX) pipeline looks promising with candidates like BL-5010 (non-surgical removal of skin lesions); BL-1040 (preventing pathological cardiac remodelling following a myocardial infarction); BL-8040 (acute myeloid leukemia and other hematological cancer indications) and BL-7010 (celiac disease).

Earlier in the week BioLineRx announced that results from a phase I/II study on BL-8040 were published in the journal, Clinical Cancer Research. Results showed that BL-8040 allows the efficient mobilization of stem cells from the bone marrow into the peripheral blood. The procedure facilitates autologous stem cell transplantation in patients suffering from multiple myeloma.

Results further revealed that BL-8040 binds with a very high affinity to CXCR4 and also dissociates from the receptor slowly.

BL-8040 is being evaluated in a multicenter, open-label phase II study for treating adults suffering from relapsed/refractory acute myeloid leukemia (:AML). The study is also assessing the pharmacokinetic profile of BL-8040 along with an efficacy evaluation.

Partial results from the study are expected later this year, with final results scheduled for the second half of 2014. We are positive on the company’s efforts to develop BL-8040 in oncology. However, we note that the oncology market is extremely crowded with the presence of big players like Roche (RHHBY).

BioLineRx is also studying BL-8040 for the treatment of thrombocytopenia (reduced platelet production). In Aug 2013, the company reported positive results from pre-clinical trials on the candidate, where it was proved to be effective for the treatment of thrombocytopenia. Results further revealed that BL-8040 increased the number of megakaryocytes (cells that produce platelets) within the bone marrow.

We remind investors that in Sep 2012, the rights to BL-8040 were in-licensed by BioLineRx from Biokine Therapeutics Ltd.

BioLineRx presently carries a Zacks Rank #4 (Sell). Some better-ranked stocks include Actelion Ltd. (ALIOF) and Jazz Pharmaceuticals (JAZZ). Both these stocks carry a Zacks Rank #1 (Strong Buy).

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