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H.C. Wainwright reiterated its buy rating and $26.00 price target on BioLineRx (NASDAQ:BLRX), a biotech company currently trading at $4.67, following the company’s presentation of full data from the pilot phase of its CheMo4METPANC Phase 2 trial at ASCO 2025. According to InvestingPro data, while the stock has seen a strong return over the last three months, it remains significantly below its 52-week high of $35.60. The trial evaluated motixafortide in combination with cemiplimab and standard-of-care gemcitabine and nab-paclitaxel in treatment-naïve patients with metastatic pancreatic ductal adenocarcinoma.
The data showed an overall response rate of 64% (7/11 patients) and a disease control rate of 91% (10/11 patients), significantly outperforming historical controls with gemcitabine and nab-paclitaxel, which typically achieve 23% and 48%, respectively. Four of the eleven patients remained progression-free after more than one year of treatment. While the clinical results are promising, InvestingPro analysis shows the company is quickly burning through cash, with negative free cash flow of $32.38 million in the last twelve months. Get access to 12 more exclusive InvestingPro Tips and comprehensive financial analysis with a subscription.
Two patients in the trial achieved notable outcomes, with one experiencing complete radiologic resolution of liver metastases and receiving definitive radiation to the primary pancreatic tumor. Another patient maintained a sustained partial response and underwent pancreaticoduodenectomy, with pathology confirming a complete response.
The study also revealed increased intratumoral CD8+ T cell infiltration with treatment, and pre-treatment CXCL12+ cancer-associated fibroblast levels appeared to be associated with response. These findings support the mechanism of action for motixafortide in this difficult-to-treat cancer.
Based on these results, BioLineRx plans to amend the trial to become a randomized, open-label Phase 2 study with 108 patients, comparing the median progression-free survival of gemcitabine and nab-paclitaxel with or without motixafortide and cemiplimab as the primary endpoint. With analyst price targets ranging from $12 to $40, and the company maintaining a healthy current ratio of 2.27, investors can access detailed valuation metrics and comprehensive analysis through InvestingPro’s exclusive Research Report, available for over 1,400 US stocks.
In other recent news, BioLineRx has reported promising results from its CheMo4METPANC Phase 2 trial, which evaluates the efficacy of motixafortide in combination with other cancer therapies for treating pancreatic cancer. The trial showed a 64% overall response rate and a 91% disease control rate, significantly higher than historical benchmarks. As a result, the study has expanded into a randomized trial with a target enrollment of 108 patients, expected to be fully enrolled by 2027. Furthermore, BioLineRx’s first-quarter 2025 financial results surpassed expectations, reporting an earnings per share of $1.39, largely due to warrant accounting adjustments. The company ended the quarter with $26.4 million in cash, expected to sustain operations into the second half of 2026. BioLineRx generated $0.3 million in revenue, primarily from royalties on APHEXDA sales. Analyst firm H.C. Wainwright maintained a Buy rating with a $26 price target, reflecting optimism about BioLineRx’s financial performance and clinical development pipeline. Meanwhile, Jones Trading recently upgraded BioLineRx from Hold to Buy, citing promising data from the motixafortide trial. However, another note from Jones Trading maintained a Hold rating, highlighting the need for further pipeline development to impact stock performance.
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