BioLineRx Ltd. (NASDAQ:BLRX) reported first-quarter 2026 financial results on Wednesday, shortly after announcing that the first patient had been dosed in its Phase 1/2a clinical study evaluating GLIX1 for the treatment of glioblastoma.
The company’s shares climbed 4.43% in premarket trading following the update.
BioLineRx posted adjusted earnings per share of $0.00 for the quarter ended March 31, 2026, unchanged from the same period a year earlier. Revenue increased 88% year-over-year to $480,000 from $255,000 in the first quarter of 2025, supported by higher royalty income tied to APHEXDA commercialization.
The biotechnology group confirmed that the first patient in the GLIX1 study was treated at NYU Langone Health in March 2026. BioLineRx also released new preclinical findings showing that GLIX1 produced strong anti-tumour activity in glioblastoma models, including a temozolomide-resistant patient-derived xenograft model where standard treatment failed to demonstrate effectiveness.
“We achieved a significant milestone for our company and for the GLIX1 development program with the dosing of the first patient in our Phase 1/2a clinical trial of GLIX1 in glioblastoma,” stated Philip Serlin, Chief Executive Officer of BioLineRx.
Sales of APHEXDA totaled $2.7 million during the first quarter, generating approximately $500,000 in royalty revenue for the company. Research and development expenses rose 55.8% year-over-year to $2.5 million from $1.6 million, primarily reflecting increased spending related to the GLIX1 programme.
BioLineRx reported a net loss of $2.6 million for the quarter, compared with net income of $5.1 million in the corresponding period last year.
As of March 31, 2026, the company held $17.4 million in cash and short-term deposits and said it continues to expect its current cash resources to fund operations into the first half of 2027.