BioLineRx Says Cash, Cash Equivalents, And Short-Term Bank Deposits Of $28.2M Will Be Sufficient To Fund Operations, As Currently Planned, Into 2025
Portfolio Pulse from Benzinga Newsdesk
BioLineRx announced that its cash, cash equivalents, and short-term bank deposits of $28.2 million will be sufficient to fund operations into 2025. This amount excludes $6.0 million from a direct offering and a $20.0 million drawdown from a loan agreement with BlackRock, both completed in April 2024.
May 28, 2024 | 11:06 am
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BioLineRx has announced that its current cash reserves of $28.2 million will be sufficient to fund operations into 2025. This does not include an additional $26 million from recent funding activities.
The announcement that BioLineRx has sufficient funds to operate into 2025, along with additional recent funding, is a positive indicator of financial stability. This is likely to boost investor confidence in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100