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BioLineRx Ltd.

Company NameBioLineRx Ltd.
Stock SymbolBLRX
Class PeriodFebruary 23, 2021 to September 19, 2022
Lead Plaintiff Motion DeadlineMarch 06, 2023

On September 15, 2022, BioLine announced that Kreos Capital VII Aggregator SCSP will provide the Company with term loans in an aggregate principal amount of up to $40 million.

On September 19, 2022, BioLine announced a registered direct offering of approximately 14 million ADSs and warrants to purchase ADSs for a combined price of $1.10 per ADS and associated warrant.

On this news, the Company’s share price fell 33% to close at $1.02 per share on September 19, 2022.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was not well financed to develop Motixafortide while at the same time advancing other pipeline programs;  (2) BioLine would require a loan from Kreos Capital VII Aggregator SCSP in an aggregate principal amount of up to $40 million and then also would require a $15M securities offering to facilitate the commercial launch of Motixafortide; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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