Investors are buying Bioline RX Ltd (NASDAQ:BLRX) in moring trading, in anticipation of Thursday’s investor breakfast which will be held in New York city. The meeting, which will kick off at the Convene Conference Center at the Bryant Park Hub theater starting at 8:00 a.m., will certainly be an interesting one.
The clinical stage biopharmaceutical company, which is dedicated to “identifying, in-licensing and developing promising therapeutic candidates”, will present their clinical development strategy for its hematology and oncology platform, BL-8040.
Dr. John DiPersio, Chief of the Division of Oncology at the Washington University School of Medicine in St. Louis will be giving a keynote presentation, entitled, “Review of the CXCR4 Landscape”.
The stock is up 6.02% or $0.08 after the news, hitting $1.41 per share. About 209,978 shares traded hands. BLRX has declined 33.50% since April 28, 2015 and is downtrending. It has underperformed by 32.61% the S&P500.
BioLine RX Ltd is an Israel-based company engaged in the development of therapeutics, from preclinical-stage development to advanced clinical trials, for a range of medical needs. The company has a market cap of $72.69 million. The Company’s clinical therapeutic candidates under development consist of BL-1020 that is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients; BL-1040, which is under pivotal CE-Mark registration trial for the prevention of cardiac remodeling following an acute myocardial infarction; BL-5010, which has completed Phase I/II clinical trials for non-surgical removal of skin lesions; BL-1021 that has completed Phase Ia clinical trial for the treatment of neuropathic pain or pain that results from damage to nerve fibers, and BL-7040, a synthetic oligonucleotide, which is in Phase II clinical trial for the treatment of inflammatory bowel disease. It currently has negative earnings.