BioLineRx (NASDAQ: BLRX) Reports Promising Results Of Motixafortide In Phase III Trial

Shares of BioLineRx Ltd. (NASDAQ: BLRX) traded up 52.03% in the pre-market session after the company has reported the encouraging results from the GENESIS Phase III clinical trial, assessing lead candidate motixafortide for stem cell mobilization in multiple myeloma patients. Initially, the company has planned to enroll 177 patients for the study but the Data Monitoring Committee suggested that the company should stop patients enrollment.

Data Monitoring Committee (DMC) has monitored the primary endpoint of the study and the interim analysis showed the promising results of treatment with motixafortide. As per the suggestion of DMC, the study enrollment is now stopped at 122 patients.

The biotechnology company has announced that the full result of the study along with the safety data will be disclosed once the last patients enrolled reach 100 days of follow-up post-transplantation. It is expected that would occur in the first half of 2021.

BioLineRx Ltd. (NASDAQ: BLRX) shares were trading up 52.03% at $2.250 during the pre-market trading session of Friday. BioLineRx Ltd. (NASDAQ: BLRX) share price went from a low point around $1.06 to briefly over $3.04 in the past 52 weeks. It has a trading volume of 15.23 million during the pre-market trading session. BLRX market cap has remained high, hitting $29.55 million at the time of writing.

The promising results of this study are the greatest achievement of the company. BioLineRx is positive in its opinion that the final results of the study will also support its goal of changing the treatment pattern in autologous stem-cell mobilization, thus positioning motixafortide in combination with G-CSF as the new standard of care in this indication. The GENESIS Trial was started in 2017.

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