Shares of pre-commercial-stage biopharmaceutical company BioLineRx (NASDAQ:BLRX) have nosedived in today’s trade after the announcement of a $15 million registered direct offering. This includes ~13.64 million of BLRX’s American Depository Shares (ADSs) and warrants. The offer is expected to close on (or around) September 21. The company plans to use the proceeds for the commercial launch of Motixafortide as well as general corporate purposes. Last week, BLRX filed for an approval of the drug from the FDA for stem cell mobilization for autologous bone marrow transplant in cancer patients.  Its second program, AGI-134 is being developed for the treatment of multiple solid tumors.
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