Maxim Affirms BiolineRx (BLRX) at 'Buy'; BL-8040 Should be Focus for Immune Oncology Segment

Maxim affirms BiolineRx (Nasdaq: BLRX) with a Buy rating and $4 price target following Q3 results reported Monday morning.

The firm summarized:

• Pipeline Update: BL-8040 phase II data in relapsed/refractory AML (Acute Myeloid Leukemia) showing a 38% composite response rate will be presented at ASH (December 5-8, 2015), and top-line data is expected in 1Q16. Additionally, a phase II study for BL-8040 as a single agent stem cell mobilizer should initiate in early 2016 and BL-7010 is approaching CE Mark approval and launch in Europe.
• However, with ASH coming and the immune oncology space heating up, it's time to pay attention to BiolineRx. BL-8040 is an effective stem cell mobilizer while at the same time potentially making cancer cells more vulnerable to killing by selected agents (chemo., radiation, immune surveillance). As such this could be synergistic with CAR-T, a vaccine, and/or a checkpoint modulators. What is the immune oncology world focused on right now? Bloodborne cancers (form the marrow) like B cell cancers (Kite Pharma (Nasdaq: KITE) Juno (Nasdaq: JUNO)), multiple myeloma (bluebird bio (Nasdaq: BLUE)) and AML Cellectis (Nasdaq: CLLS), Celyad (Nasdaq: CYAD))...Any one of these groups could benefit from BL-8040, because remember, cancer therapy is always, in our opinion going to be a combination approach. Please see our attachment.

For an analyst ratings summary and ratings history on BioLineRx click here. For more ratings news on BioLineRx click here.

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