BioLineRx Announces $6M Registered Direct Offering Of 7.5M ADS And Warrants To Purchase Up To An Aggregate Of 7.5M ADSs, At A Combined Purchase Price Of $0.80 Per ADS And Accompanying Warrant
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BioLineRx Ltd. announced a registered direct offering of 7.5M ADSs and warrants to purchase up to 7.5M ADSs at $0.80 each, aiming to raise $6M. The proceeds will support the commercialization of APHEXDA® for stem cell mobilization in multiple myeloma patients, advance pancreatic cancer clinical development, and other programs. The offering, facilitated by JonesTrading Institutional Services LLC, is expected to close by April 1, 2024.
April 01, 2024 | 1:02 pm
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BioLineRx Ltd. is raising $6M through a direct offering of ADSs and warrants to fund its APHEXDA® launch and other clinical programs.
The direct offering is a significant financial move for BioLineRx, aimed at raising capital to support its key projects, including the commercialization of APHEXDA®. This influx of funds is expected to positively impact the company's ability to advance its clinical programs and potentially enhance its market position in the biopharmaceutical sector. The involvement of institutional investors and the specific allocation of funds towards product commercialization and clinical development indicate a strategic approach to growth, which could be viewed positively by investors.
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