BioLineRx Stock Jumps On Positive Data from Pilot Phase Of Pancreatic Cancer Drug Trial: Retail Cheers The ‘Buy’ Rating

Shares of BioLineRx (BLRX) skyrocketed 32% on Friday after the biopharmaceutical company announced positive data from the single-arm pilot phase of its Phase 2 trial evaluating its drug in the treatment of pancreatic cancer.

The study is evaluating the company’s Motixafortide, Cemiplimab, and standard-of-care chemotherapies Gemcitabine and Nab-paclitaxel, versus Gemcitabine and Nab-paclitaxel alone, in first-line pancreatic cancer (PDAC).

The company said that updated results from the pilot phase indicate that four of eleven patients remained disease progression-free after more than one year. Progression-free means that the patient's disease did not get worse or spread.

CEO Philip Serlin said that the data emerging from the pilot phase of the study are “extremely encouraging,” while also noting that pancreatic cancer is the “most challenging” tumor to treat.

The company also stated that it now plans to enroll 108 patients in the Phase 2 trial, which will be a randomized study, based on the results of the pilot phase. The company had previously planned to enroll only 30 patients in the study.

The trial is planned to be fully enrolled in 2027. While the trial's primary endpoint is progression-free survival (PFS), secondary objectives include safety, response rate, disease control rate, duration of clinical benefit, and overall survival.

Following the news, Jones Research upgraded BioLineRx to ‘Buy’ from ‘Hold’ with a $12 price target. With these results, BioLineRx will have additional opportunities to either partner the asset or fund a pivotal trial, assuming favorable Phase II results, the analyst said.

On Stocktwits, retail sentiment around BLRX jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours while message volume stayed at ‘extremely high’ levels.

BLRX is down by about 50% this year and by about 84% over the past 12 months.

Read Next: Gilead Eyes HIV Drug Rollout In Low-Income Countries Despite Funding Uncertainty, Says Report: Retail Holds Onto Bearish Stance

For updates and corrections, email newsroom[at]stocktwits[dot]com.