BioLineRx raises $21 million
BioLineRx Ltd. (Tel Aviv:BLRX; NASDAQ:BLRX) raised $21 million through the sale of 8.4 million ADSs at $2.50 in a follow-on underwritten by Roth Capital Partners and Maxim Group. Each ADS represents 10 common shares. BioLineRx proposed the follow-on late Monday, when its share price on NASDAQ was $2.92.
BioLineRx has six compounds in the clinic, including BL-8040, which is in Phase II testing to treat acute myelogenous leukemia and Phase I testing for stem cell mobilization; BL-7010, which is in Phase I/II testing for celiac disease; and BL-1040 (IK-5001), which is in a pivotal CE Mark registration trial to prevent ventricular remodeling and congestive heart failure (CHF) following acute myocardial infarction (MI). Ikaria Inc. (Hampton, N.J.) has exclusive, worldwide rights to BL-1040. ...