Bioline Rx Ltd Adr (BLRX)

Shares of BioLineRx (BLRX) dropped by 10.59% from $1.700 to $1.520 in the trading on Monday, November 20, 2023. The reason why BLRX is down today is due to the company's disappointing Q3 financial results.

• Research and development expenses decreased by 37.6%, mainly due to reduced costs associated with NDA supporting activities and the completed AGI-134 clinical trial.
• Sales and marketing expenses saw a significant 517.4% increase, driven by heightened pre-commercialization activities.
• General and administrative expenses rose by 7.7% due to minor increases in various G&A expenses.
• Non-operating expenses surged, primarily due to the revaluation of outstanding warrants caused by an increase in the company's share price.
• Net losses for both the three and nine months ended September 30, 2023, were significantly higher compared to the same periods in 2022.