BioLineRx closes $3.75 million offering, adds warrant coverage from existing investor
The Israeli biotech priced ADSs and pre-funded warrants at $2.78, with a concurrent private placement of additional warrants covering more than 1.2 billion underlying ordinary shares.
BioLineRx Ltd. announced on August 28, 2026 that it had entered into a definitive agreement to sell 1,348,921 American Depositary Shares or ADS equivalents at $2.78 per ADS in a registered direct offering, alongside accompanying warrants to purchase up to 2,023,382 ADSs through a concurrent private placement, according to the company's press release. The warrants will have an exercise price of $2.78 per ADS and will expire five years from the issuance date, and each ADS represents six hundred ordinary shares.1
The closing of the offering is expected to occur on or about August 31, 2026, subject to the satisfaction of customary closing conditions.1 Chardan is acting as exclusive placement agent, and gross proceeds are expected to total $3.75 million before fees and expenses.1 The company said it intends to use net proceeds for research and development activities, working capital and general corporate purposes.1
Per the related prospectus supplement filed the same week, the structure also included pre-funded warrants: pre-funded warrants to purchase up to an aggregate of 868,225 ADSs, representing 520,935,000 ordinary shares, at a purchase price of $2.7799 each, with an exercise price of $0.0001 per ADS, immediately exercisable subject to a beneficial ownership limitation.2
In connection with the deal, BioLineRx entered a Warrant Amendment on August 27, 2026 to reduce the exercise price on previously issued warrants covering 277,273 ADSs to $2.78 per ADS and extend their expiration to August 31, 2031.1 The company also reduced the maximum aggregate offering amount of its existing At-the-Market Offering Agreement with H.C. Wainwright & Co. to zero1 concurrent with the new offering.
The filing noted the company's lead program: GLIX1, a first-in-class oral small molecule targeting DNA damage response in glioblastoma and other solid tumors, entered a Phase 1/2a clinical trial in the first quarter of 2026, developed under a collaboration with Hemispherian AS.1 APHEXDA (motixafortide), the company's first approved product, is commercialized by Ayrmid Ltd. globally except Asia and by Gloria Biosciences in Asia, while BioLineRx retains rights to develop motixafortide in pancreatic cancer through an ongoing Phase 2b trial with Columbia University.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.