Analysts at Maxim Group viewed Israel-based BioLineRx Ltd’s (NASDAQ:BLRX) expanded collaboration with Merck & Co Inc (NYSE:MRK) as a “positive” for the clinical-stage cancer specialist’s peptide for “difficult to treat cancers.”
BioLineRx’s BL-8040 is a novel, short peptide that functions as a high-affinity antagonist for CXCR4, which the cancer specialist is developing for the treatment of acute myeloid leukemia as well as solid tumors.
The triple combo trial evaluates BL-8040 in combination with Keytruda and MSD’s anti-PD-1 therapy, in patients with metastatic pancreatic cancer.
BioLineRx earlier initiated a Phase 2a study, known as the COMBAT study, focusing on evaluating the safety and efficacy of BL-8040 in combination with Keytruda, Merck’s anti-PD-1 therapy.
“BioLineRx has expanded its immunooncology collaboration with Merck evaluating BL-8040 + Keytruda in pancreatic cancer (P2a, COMBAT/Keynote-202) to include an arm for a triple combination, layering in chemotherapy with BL-8040 and Keytruda,” wrote Maxim Group analysts Jason McCarthy and Caroline Palomeque in a note released Monday.
READ: BioLineRx reports rosy results from Phase2a trial for its cancer drug BL-8040
“The triple arm should initiate in 4Q18. Data from the initial combination of BL-8040 and Keytruda is still expected in 2H18,” they added.
The analysts said that as they waited for the “triple combo arm” to get underway, they looked forward to data “from the BL-8040 + Keytruda arm,” as a “significant event” for the company.
Separately, BioLineRx recently announced results from a Phase 2a trial which suggest that its drug BL-8040 lifts survival rates in patients with relapsed or refractory acute myeloid leukemia.
The study reveals that when BL-8040 is taken in combination with the chemotherapy drug Cytarabine, the life of patients with relapsed acute myeloid leukemia is extended by several months.
Analysts at Maxim are bullish that the BL-8084 platform continues to make progress across multiple indications and data from several studies is expected over the remainder of 2018 which, if positive, should represent catalysts for the stock.
Maxim is keeping a Buy rating and a US$2 price target on the stock.
BioLineRx shares were up 1.3% to US$0.91 in morning trade.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive