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High-level View Of Pipeline (Graphic: Business Wire)

BioLineRx’s business model is based on acquiring molecules mainly from biotechnological incubators and academic institutions. The Company performs feasibility assessment studies and development through pre-clinical and clinical stages, with partial funding from the Israeli Government’s Office of the Chief Scientist (OCS). The final stage includes partnering with medium and large pharmaceutical companies for advanced clinical development (Phase 3) and commercialization.

For more information on BioLineRx, please visit www.biolinerx.com

Various statements in this release concerning BioLineRx’s future expectations, plans and prospects, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as “may”, “expects”, “anticipates”, “believes”, and “intends”, and describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks are: changes in relationships with collaborators; the impact of competitive products and technological changes; risks relating to the development of new products; and the ability to implement technological improvements. These and other factors are more fully discussed in the “Risk Factors” section of BioLineRx’s Form 20-F filed with the Securities and Exchange Commission on March 22, 2012. In addition, any forward-looking statements represent BioLineRx’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BioLineRx does not assume any obligation to update any forward-looking statements unless required by law.

           

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

 

Convenience translation into USD (Note 1b)

December 31, December 31,
2010 2011 2011
NIS in thousands In thousands
Assets
CURRENT ASSETS
Cash and cash equivalents 111,746 33,061 8,652
Short-term bank deposits 28,037 65,782 17,216
Prepaid expenses 46 687 180
Other receivables 6,313   3,825   1,001  
Total current assets 146,142   103,355   27,049  
 
NON-CURRENT ASSETS
Restricted deposits 2,414 2,746 719
Long-term prepaid expenses 196 204 53
Property and equipment, net 4,509 4,211 1,102
Intangible assets, net 1,352   1,144   299  
Total non-current assets 8,471   8,305   2,173  
Total assets 154,613   111,660   29,222  
 
Liabilities and equity
CURRENT LIABILITIES
Current maturities of long-term bank loan 307 307 80
Accounts payable and accruals:
Trade 6,213 11,275 2,951
OCS 5,993 6,233 1,631
Licensors 1,491 - -
Other 8,187   7,894   2,066  
Total current liabilities 22,191   25,709   6,728  
 
NON-CURRENT LIABILITIES
Long-term bank loan, net of current maturities 432 110 29
Retirement benefit obligations 30   83   22  
Total non-current liabilities 462   193   51  
COMMITMENTS AND CONTINGENT LIABILITIES      
Total liabilities 22,653   25,902   6,779  
 
EQUITY
Ordinary shares 1,236 1,236 324
Share premium 414,435 421,274 110,252
Warrants 6,549 - -
Capital reserve 27,623 31,317 8,196
Accumulated deficit (317,883 ) (368,069 ) (96,329 )
Total equity 131,960   85,758   22,443  
Total liabilities and equity 154,613   111,660   29,222  
 
       

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 
Year ended December 31,

Convenience translation into USD (Note 1b)

2009     2010     2011 2011
NIS in thousands In thousands
 
REVENUES 63,909 113,160 - -
COST OF REVENUES (22,622 ) (25,571 ) -   -  
 
GROSS PROFIT 41,287 87,589 - -
 
RESEARCH AND DEVELOPMENT EXPENSES, NET (90,302 ) (54,966 ) (42,623 ) (11,155 )

SALES AND MARKETING EXPENSES

(3,085 ) (4,609 ) (3,308 ) (866 )
GENERAL AND ADMINISTRATIVE EXPENSES (11,182 ) (14,875 ) (12,722 ) (3,329 )
 
OPERATING INCOME (LOSS) (63,282 ) 13,139 (58,653 ) (15,350 )
FINANCIAL INCOME 3,928 3,056 12,730 3,332
FINANCIAL EXPENSES (2,164 ) (8,755 ) (4,263 ) (1,116 )
 
NET INCOME (LOSS) AND COMPREHENSIVE INCOME

(LOSS)

(61,518 ) 7,440   (50,186 ) (13,134 )
 
NIS USD
EARNINGS (LOSS) PER ORDINARY SHARE - BASIC (0.63 ) 0.06   (0.41 ) (0.11 )
EARNINGS (LOSS) PER ORDINARY

SHARE - DILUTED

(0.63 ) 0.06   (0.41 ) (0.11 )
 

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50214059&lang=en



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