Q2 FY2026
Filed Aug 31, 2026BioLineRx reported Q2 2026 royalty revenues of $0.3 million and a net loss of $4.3 million while advancing GLIX1 dose escalation, maintaining cash-runway guidance into the first half of 2027, and announcing a $3.75 million offering expected to close on or about August 31, 2026.
GLIX1 development advanced with second-cohort dosing and additional preclinical data, while royalty revenue remained similar year over year, operating losses widened, and the company reported $13.1 million in cash, cash equivalents and short-term bank deposits before its pending offering.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Royalty revenues, three months ended June 30, 2026other | 294 in USD thousands | – | – |
| Cost of revenues, three months ended June 30, 2026other | (59) in USD thousands | – | – |
| Gross profit, three months ended June 30, 2026other | 235 in USD thousands | – | – |
| Research and development expenses, three months ended June 30, 2026other | (2,943) in USD thousands | – | 26.5% |
| General and administrative expenses, three months ended June 30, 2026other | (865) in USD thousands | – | 313.9% |
| Operating loss, three months ended June 30, 2026other | (3,573) in USD thousands | – | – |
| Non-operating income (expenses), net, three months ended June 30, 2026other | (690) in USD thousands | – | – |
| Financial income, three months ended June 30, 2026other | 132 in USD thousands | – | – |
| Financial expenses, three months ended June 30, 2026other | (208) in USD thousands | – | – |
| Net loss and comprehensive loss, three months ended June 30, 2026other | (4,339) in USD thousands | – | – |
| Net loss attributable to owners of the Company, three months ended June 30, 2026other | (3,026) in USD thousands | – | – |
| Net loss attributable to non-controlling interests, three months ended June 30, 2026other | (1,313) in USD thousands | – | – |
| Basic and diluted loss per ordinary share attributable to owners of the Company, three months ended June 30, 2026other | (0.00) in USD | – | – |
| Weighted average number of shares used in calculation of basic and diluted loss per ordinary share, three months ended June 30, 2026other | 2,664,807,584 | – | – |
| Royalty revenues, six months ended June 30, 2026other | 771 in USD thousands | – | – |
| Gross profit, six months ended June 30, 2026other | 617 in USD thousands | – | – |
| Operating loss, six months ended June 30, 2026other | (6,577) in USD thousands | – | – |
| Net income (loss) and comprehensive income (loss), six months ended June 30, 2026other | (6,927) in USD thousands | – | – |
| Net cash used in operating activities, six months ended June 30, 2026other | (5,497) in USD thousands | – | – |
| Net cash provided by (used in) investing activities, six months ended June 30, 2026other | 9,051 in USD thousands | – | – |
| Net cash provided by (used in) financing activities, six months ended June 30, 2026other | (2,320) in USD thousands | – | – |
| Cash and cash equivalents, June 30, 2026other | 4,627 in USD thousands | – | – |
| Short-term bank deposits, June 30, 2026other | 8,451 in USD thousands | – | – |
| Current maturities of long-term loan, June 30, 2026other | 4,479 in USD thousands | – | – |
| Long-term loan, net of current maturities, June 30, 2026other | 2,220 in USD thousands | – | – |
| Total assets, June 30, 2026other | 33,480 in USD thousands | – | – |
| Total liabilities, June 30, 2026other | 16,861 in USD thousands | – | – |
| Total equity, June 30, 2026other | 16,619 in USD thousands | – | – |
Into the first half of 2027 outlook
- NoteCash runway guidance into the first half of 2027.
- NoteThird GLIX1 patient cohort expected to commence dosing in September.
- NoteA prespecified interim/futility analysis in the CheMo4METPANC Phase 2b clinical trial is anticipated to occur in 2026 when 40% of progression-free survival events are observed.
- NoteThe $3.75 million gross-proceeds offering is expected to close on or about August 31, 2026.
What drove it
- APHEXDA sales were $1.6 million in the second quarter of 2026 and provided royalty revenue of $0.3 million to the Company.
- Research and development expenses increased primarily from expenses related to the new GLIX1 project, offset by lower expenses related to motixafortide.
- General and administrative expenses increased because the comparable 2025 period included reversal of a $0.8 million provision for doubtful accounts following receipt of an overdue milestone payment from Gloria.
- Non-operating expenses in both periods primarily related to fair-value adjustments of warrant liabilities.
- The second of five planned GLIX1 Phase 1 dose-escalation cohorts began dosing in July.
- GLIX1 generated preclinical anti-tumor activity in a temozolomide-resistant GBM patient-derived xenograft model and synergy with PARP inhibitors in an HR-proficient ovarian cancer patient-derived xenograft model.
Concerns
- Quarterly royalty revenues were $0.3 million, similar to the three months ended June 30, 2025.
- Net loss was $4.3 million for the three months ended June 30, 2026, compared with $3.9 million for the comparable 2025 period.
- The Company used (5,497) in USD thousands of cash in operating activities during the six months ended June 30, 2026.
- GLIX1 remains in the Phase 1 dose-escalation part of its Phase 1/2a study, and the planned ovarian cancer arm is for the Phase 2a expansion phase.
- The announced $3.75 million offering was expected to close on or about August 31, 2026 and was not reported as closed in the release.
What to watch
- Commencement of dosing in the third GLIX1 cohort expected in September.
- Phase 1 GLIX1 safety, PK/PD and preliminary efficacy results as the study seeks to establish a maximum tolerated dose and/or recommended dose.
- Publication of GLIX1 clinical and preclinical data at the EANO 2026 Conference and SNO 2026 Annual Meeting.
- Publication of the GLIX1 and PARP inhibitor ovarian cancer abstract at ESMO 2026 in October.
- The planned 2026 prespecified interim/futility analysis for the CheMo4METPANC Phase 2b trial.
- APHEXDA sales and the resulting royalty revenue.
- Completion of the $3.75 million offering and the Company's cash runway into the first half of 2027.
Balance sheet and cash flow
- Cash, cash equivalents, and short-term bank deposits were $13.1 million as of June 30, 2026.
- Cash and cash equivalents were 4,627 in USD thousands as of June 30, 2026, compared with 3,250 in USD thousands as of December 31, 2025.
- Short-term bank deposits were 8,451 in USD thousands as of June 30, 2026, compared with 17,626 in USD thousands as of December 31, 2025.
- Current maturities of long-term loan were 4,479 in USD thousands and long-term loan, net of current maturities, was 2,220 in USD thousands as of June 30, 2026.
- Net cash used in operating activities was (5,497) in USD thousands for the six months ended June 30, 2026, compared with (2,768) in USD thousands for the six months ended June 30, 2025.
- On August 27, 2026, the Company entered into a definitive agreement for an offering with gross proceeds of $3.75 million, expected to close on or about August 31, 2026.
Analysis
BioLineRx reported royalty revenues of $0.3 million for the three months ended June 30, 2026, similar to the comparable 2025 period. APHEXDA sales were $1.6 million and generated $0.3 million of royalty revenue for the Company. Gross profit was 235 in USD thousands, compared with 232 in USD thousands in the prior-year quarter, leaving the reported revenue base largely unchanged.
Operating spending increased as GLIX1 development progressed. Research and development expenses were $2.9 million, up $0.6 million, or 26.5%, primarily due to the new GLIX1 project, partly offset by lower motixafortide expense. General and administrative expenses were $0.9 million, up $0.7 million, or 313.9%, because the prior-year period benefited from reversal of a $0.8 million provision for doubtful accounts. Operating loss was (3,573) in USD thousands and net loss was (4,339) in USD thousands.
The company had $13.1 million of cash, cash equivalents and short-term bank deposits as of June 30, 2026 and maintained its cash-runway guidance into the first half of 2027. Net cash used in operating activities was (5,497) in USD thousands for the first six months of 2026. Subsequent to quarter-end, BioLineRx entered into a definitive agreement for an offering with gross proceeds of $3.75 million, expected to close on or about August 31, 2026. The balance sheet also reported 4,479 in USD thousands of current maturities of long-term loan and 2,220 in USD thousands of long-term loan net of current maturities.
Operationally, the GLIX1 Phase 1/2a study advanced to dosing in the second of five planned Phase 1 cohorts during July, with the third cohort expected to begin dosing in September. The company highlighted preclinical activity in temozolomide-resistant GBM and synergy with PARP inhibitors in HR-proficient ovarian cancer, and plans to add an ovarian cancer arm in Phase 2a expansion. For motixafortide in mPDAC, enrollment continues in the CheMo4METPANC Phase 2b study, with the prespecified interim/futility analysis still anticipated in 2026 when 40% of progression-free survival events are observed.
Management, verbatim
Our Phase 1/2a study in glioblastoma is advancing as planned, with the second cohort in the Phase 1 part now being dosed, and the third cohort expected to commence dosing in September. To date, a little more than four months into the study, we have been very pleased with the drug’s safety and tolerability.
Philip Serlin, Chief Executive Officer of BioLineRx
We also generated data showing strong synergy between GLIX1 and PARP inhibitors in an HR-proficient patient-derived ovarian cancer in-vivo model, and based upon these excellent findings, we are planning to add an ovarian cancer arm to the Phase 2a expansion phase of the trial.
Philip Serlin, Chief Executive Officer of BioLineRx
Not in the filing
stated, not guessed- Accounting framework, including whether the financial statements are prepared under IFRS, was not stated in the supplied filing text.
- Gross margin was not reported.
- Non-GAAP or adjusted financial measures, including non-GAAP operating income, non-GAAP net income, and non-GAAP EPS, were not reported.
- Quarter-over-quarter comparisons for reported revenue, expenses, profit or loss, EPS, and cash flow were not reported.
- A quarterly operating cash flow figure for the three months ended June 30, 2026 was not reported.
- Free cash flow was not reported.
- Tax rate and income-tax expense were not reported.
- Dividend declarations, share repurchases, and other completed capital returns were not reported.
- Revenue, gross-margin, operating-expense, and tax-rate guidance were not reported.
- Prior-period outlook was not provided, so actual performance cannot be compared with prior guidance.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.