NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of BioLineRx Ltd. (“BioLineRx” or the “Company”) (NASDAQ: BLRX). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether BioLineRx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 15, 2022, BioLine announced entry into a loan agreement with Kreos Capital VII Aggregator SCSP (“Kreos”), under which Kreos “will provide the Company with access to term loans in an aggregate amount of up to $40 million.” Then, on September 19, 2022, BioLine announced entry into definitive agreements with several institutional investors for the issuance and sale of 13,636,365 American Depositary Shares (“ADSs”) and warrants to purchase up to 13,636,365 ADSs at a combined purchase price of $1.10 per ADS and associated warrant. BioLine stated that the offering’s gross proceeds, expected to be $15 million, will be used to facilitate the commercial launch of the Company’s Motixafortide product.
On this news, BioLine’s stock price fell $0.52 per share, or 33.77%, to close at $1.02 per share on September 20, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980