0001178913-26-001581
SEC filingBioLineRx Ltd., a clinical-stage biopharma company focused on oncology and rare diseases, reported FY 2025 revenues of $1.2 million, a 96% decline from $28.9 million in FY 2024, primarily due to the November 2024 out-licensing of motixafortide rights to Ayrmid (excluding Asia and solid tumors) and shutdown of U.S. commercialization. Revenues in 2025 consisted solely of $1.2 million in royalties from Ayrmid on APHEXDA (motixafortide) sales for stem cell mobilization. Net loss narrowed to $2.0 million from $9.2 million YoY, driven by reduced operating expenses post-commercial wind-down (R&D $8.1M vs $9.2M; no sales/marketing vs $23.6M) and $8.1M non-operating income from warrant fair value changes. Total assets stood at $40.9M, with cash/cash equivalents/short-term deposits at $20.9M ($3.2M cash + $17.6M deposits), supporting operations into H1 2027. Cash burn eased: operating -$8.1M (vs -$43.9M), investing -$8.5M, financing +$8.9M. Equity rose to $23.3M, liabilities fell to $17.6M. Forward-looking, focus shifts to GLIX1 development via Tetragon (40% owned) and motixafortide solid tumors (PDAC Phase 2b ongoing). Management highlights reduced burn rate and potential milestones/royalties from partnerships.
BioLineRx reported FY 2025 revenues of $1.2M, down 96% from $28.9M in 2024, reflecting the shift from direct U.S. commercialization of APHEXDA (motixafortide) to royalty-based model post-November 2024 Ayrmid out-licensing (ex-Asia, ex-solid tumors). Net loss narrowed to $2.0M from $9.2M YoY, aided by $8.1M non-operating income (warrant fair value gains) and sharp expense cuts: sales/marketing eliminated ($0 vs $23.6M), R&D $8.1M (-12%), G&A $3.1M (-51%). Balance sheet strengthened: total assets $40.9M (up 5%), equity $23.3M (up 73%), liabilities $17.6M (down 31%). Cash position $20.9M supports runway to H1 2027 at reduced burn.
Revenues solely from $1.2M Ayrmid royalties on APHEXDA stem cell mobilization sales (U.S./ex-Asia). No product sales post-commercial shutdown. Prior 2024: $28.9M included $15M Gloria upfront/milestone (Asia out-license) + $6M U.S. product sales. Gloria (Asia) contributed negligible 2025 royalties. Single-segment biopharma focus; no geographic/segment breakdown beyond partnerships.
Gross profit $0.95M (80% margin, up from 68% on lower revenues). Operating loss -$10.3M improved 50% YoY from -$20.4M via cost discipline. Non-operating $8.1M boosted near-breakeven. No impairments (vs $1.0M 2024 on motixafortide solid tumors). R&D remains core (67% opex), but overall burn down post-commercial pivot.
Operating cash -$8.1M (vs -$43.9M), investing -$8.5M (deposits), financing +$8.9M (equity raises). Net cash decline -$7.7M; ending cash $3.2M (+ deposits $17.6M = $20.9M). Current assets $23.7M, liabilities $12.1M (ratio 2.0x). Debt restructured: BlackRock loan $8.9M (post-$16.5M paydown). Equity $23.3M includes $5.1M NCI (Tetragon).
Refocus on oncology/rare diseases: GLIX1 Phase 1/2a Q1 2026 (40% Tetragon stake, $5M commit). Motixafortide PDAC Phase 2b interim 2026 (ex-Asia solid tumors retained). Royalties/milestones from Ayrmid/Gloria key. Cash to H1 2027; potential equity/debt raises. Risks: clinical delays, funding needs, geopolitical (Israel ops).