Law Offices of Howard G. Smith reminds investors of the upcoming March 6, 2023 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased BioLineRx Ltd. (“BioLine” or the “Company”) (NASDAQ: BLRX) American Depositary Shares (“ADSs”) between February 23, 2021 and September 19, 2022, inclusive (the “Class Period”).
Investors suffering losses on their BioLine investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On September 15, 2022, BioLine announced that Kreos Capital VII Aggregator SCSP will provide the Company with term loans in an aggregate principal amount of up to $40 million.
On September 19, 2022, BioLine announced a registered direct offering of approximately 14 million ADSs and warrants to purchase ADSs for a combined price of $1.10 per ADS and associated warrant.
On this news, the Company’s share price fell 33% to close at $1.02 per share on September 19, 2022.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was not well financed to develop Motixafortide while at the same time advancing other pipeline programs; (2) BioLine would require a loan from Kreos Capital VII Aggregator SCSP in an aggregate principal amount of up to $40 million and then also would require a $15M securities offering to facilitate the commercial launch of Motixafortide; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired BioLine ADSs during the Class Period, you may move the Court no later than March 6, 2023 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230113005058/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
