BioLineRx's Huge Catalyst Upcoming With Potential Multi-Billion Dollar
Scott Matusow | Jan 15, 2013 05:36AM ET
engages in identifying, in-licensing, and developing therapeutic candidates. Its lead clinical therapeutic candidate under development is BL-1020, which is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients. BL-1020 is an orally available, first in class GABA enhanced antipsychotic that combines dopamine antagonism with GABAergic activity.
BL-1020 is being tested against Johnson and Johnson's (JNJ) schizophrenia drug Risperdal, which generated worldwide sales of $24.2 billion from 2003 to 2010, reaching $4.5 billion in 2007.
According to Wikipedia, Breakthrough Therapy Act .
While it's not likely that Bioline will see a stock price move near the eight fold move Sarepta made, I do feel it's a good bet its price could see a very large gain if the CLARITY trial results are positive in March. Additionally, the stock should experience solid appreciation in anticipation of the these results.
The stock has formed a longer term rounding bottom and is showing signs of reversal after breaking out of its down channel. The MACD and RSI are very bullish. First target appears to be the 38.2% retrace at $4.00.
Overall, I like Bioline for at least a nice catalyst trade, and expect the stock to be trading much higher over the next month. If the Phase II data release is positive, which it should be, I would expect a stock price over $5.
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