CORRECTION: BioLine Rx Q2 EPADS $(0.30) Down From $(0.02) YoY. Cash And Equivalents Of $32.8M Expected To Provide Cash Runway Into 1H Of 2024
Portfolio Pulse from Benzinga Newsdesk
BioLine Rx reported Q2 losses of $(0.30) per ADS, a 1400% decrease from $(0.02) per ADS YoY. The company has cash and equivalents of $32.8M, which is expected to provide a cash runway into the first half of 2024.
August 30, 2023 | 11:49 am
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NEGATIVE IMPACT
BioLine Rx reported a significant increase in Q2 losses per ADS. Despite this, the company's cash position is expected to sustain operations until 1H 2024.
BioLine Rx reported a significant increase in losses per ADS, which is a negative signal for investors and could lead to a decrease in the stock price. However, the company's strong cash position could mitigate some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100