Analyst Joseph Pantginis of H.C. Wainwright maintained a Buy rating on Bioline RX Ltd Sponsored ADR, retaining the price target of $26.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including BioLineRx’s promising financial position and strategic initiatives. The company reported a cash reserve of $28.2 million, which is expected to sustain operations until the first half of 2027. Additionally, BioLineRx is actively exploring opportunities to expand its pipeline, particularly in oncology and rare diseases, with a potential asset deal anticipated in 2025.
Moreover, the company’s ongoing clinical trials show encouraging results. Notably, the CheMo4METPANC Phase 2 trial for pancreatic cancer demonstrated a significant overall response rate and disease control rate, surpassing historical controls. The upcoming readout for the Sickle Cell Disease gene therapy trial also holds promise, further supporting the positive outlook for BioLineRx’s stock.