Benzinga | May 4, 2021 01:46PM EDT

Hearing Oppenheimer Reiterates Outperform Rating And $10 Price Target On BioLineRx

BioLineRx announced top line results from the Phase 3 GENESIS trial. A

prior interim analysis indicated that GENESIS easily cleared its primary endpoint,

and new data showed that 70% of patients achieved optimal stem cell yields after

?2 apheresis sessions compared to 14.3% on G-CSF + placebo (p<0.0001). Per

investigator discretion, 88.3% of patients proceeded to transplant after a single

apheresis session versus roughly 10.8% in the control arm, which could translate to

lower overall costs. Despite the usual caveats associated with cross-trial comparisons,

we believe the GENESIS data suggest motixafortide could be competitive with

plerixafor, which is already approved for use as a stem cell mobilizer. We believe the

positive data could support an NDA filing in 1H22. Reiterate Outperform, $10 PT