healthmedicinet

BioLineRx Ltd. (NASDAQ: BLRX)(TASE: BLRX), a biopharmaceutical development company, announced today that it has entered into an at-the-market (ATM) sales agency agreement with Stifel. Pursuant to this agreement, the Company may from time to time, in its discretion, sell up to a maximum of $20,000,000 of the Company’s American Depositary s (ADSs). Each ADS represents ten Ordinary s of the Company.

“We believe that an ATM program is an efficient approach to raise capital, if necessary, on an as needed basis. It is designed to enable operational flexibility”

The ATM program does not constitute an immediate sale of the Company’s ADSs. The program permits the Company to raise capital at the times and in amounts deemed suitable by management. The Company is not required to sell any ADSs at any time. The Company intends to use net proceeds from the ATM facility, if any, to fund clinical trials and for working capital and general corporate purposes.

“We believe that an ATM program is an efficient approach to raise capital, if necessary, on an as needed basis. It is designed to enable operational flexibility,” said Dr. Kinneret Savitsky, Chief Executive Officer of BioLineRx.

SOURCE BioLineRx Ltd.