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F-2 | ||
F-3 - F-4 | ||
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F-7 - F-9 |
December 31, | June 30, | |||||||
2021 | 2022 | |||||||
in USD thousands | ||||||||
Assets | ||||||||
CURRENT ASSETS | ||||||||
Cash and cash equivalents | 12,990 | 14,000 | ||||||
Short-term bank deposits | 44,145 | 29,146 | ||||||
Prepaid expenses | 127 | 717 | ||||||
Other receivables | 142 | 240 | ||||||
Total current assets | 57,404 | 44,103 | ||||||
NON-CURRENT ASSETS | ||||||||
Property and equipment, net | 952 | 810 | ||||||
Right-of-use assets, net | 1,331 | 1,221 | ||||||
Intangible assets, net | 21,704 | 21,704 | ||||||
Total non-current assets | 23,987 | 23,735 | ||||||
Total assets | 81,391 | 67,838 | ||||||
Liabilities and equity | ||||||||
CURRENT LIABILITIES | ||||||||
Current maturities of long-term loan | 2,757 | 1,013 | ||||||
Accounts payable and accruals: | ||||||||
Trade | 5,567 | 7,338 | ||||||
Other | 1,227 | 1,132 | ||||||
Current maturities of lease liabilities | 168 | 149 | ||||||
Total current liabilities | 9,719 | 9,632 | ||||||
NON-CURRENT LIABILITIES | ||||||||
Warrants | 1,859 | 186 | ||||||
Lease liabilities | 1,726 | 1,452 | ||||||
Total non-current liabilities | 3,585 | 1,638 | ||||||
COMMITMENTS AND CONTINGENT LIABILITIES | ||||||||
Total liabilities | 13,304 | 11,270 | ||||||
EQUITY | ||||||||
Ordinary shares | 21,066 | 21,157 | ||||||
Share premium | 339,346 | 339,670 | ||||||
Warrants | 975 | 975 | ||||||
Capital reserve | 13,157 | 13,596 | ||||||
Other comprehensive loss | (1,416 | ) | (1,416 | ) | ||||
Accumulated deficit | (305,041 | ) | (317,414 | ) | ||||
Total equity | 68,087 | 56,568 | ||||||
Total liabilities and equity | 81,391 | 67,838 |
F - 1
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2021 | 2022 | 2021 | 2022 | |||||||||||||
in USD thousands | in USD thousands | |||||||||||||||
RESEARCH AND DEVELOPMENT EXPENSES | (5,139 | ) | (5,395 | ) | (9,417 | ) | (9,830 | ) | ||||||||
SALES AND MARKETING EXPENSES | (330 | ) | (1,158 | ) | (484 | ) | (1,795 | ) | ||||||||
GENERAL AND ADMINISTRATIVE EXPENSES | (1,044 | ) | (1,049 | ) | (2,061 | ) | (2,056 | ) | ||||||||
OPERATING LOSS | (6,513 | ) | (7,602 | ) | (11,962 | ) | (13,681 | ) | ||||||||
NON-OPERATING INCOME (EXPENSES), NET | (217 | ) | 458 | (4,778 | ) | 1,726 | ||||||||||
FINANCIAL INCOME | 130 | 80 | 247 | 147 | ||||||||||||
FINANCIAL EXPENSES | (242 | ) | (379 | ) | (541 | ) | (565 | ) | ||||||||
NET LOSS AND COMPREHENSIVE LOSS | (6,842 | ) | (7,443 | ) | (17,034 | ) | (12,373 | ) | ||||||||
in USD | in USD | |||||||||||||||
LOSS PER ORDINARY SHARE - BASIC AND DILUTED | (0.01 | ) | (0.01 | ) | (0.03 | ) | (0.02 | ) | ||||||||
WEIGHTED AVERAGE NUMBER OF SHARES USED IN CALCULATION OF LOSS PER ORDINARY SHARE | 669,138,994 | 715,365,554 | 614,780,845 | 715,260,781 |
F - 2
| Ordinary | Share |
| Capital | Other | Accumulated |
| |||||||||||||||||||||
| shares | premium | Warrants | reserve | loss | deficit | Total | |||||||||||||||||||||
| in USD thousands | |||||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2021 | 9,870 | 279,241 | - | 12,322 | (1,416 | ) | (277,987 | ) | 22,030 | |||||||||||||||||||
CHANGES FOR SIX MONTHS ENDED | ||||||||||||||||||||||||||||
Issuance of share capital, net | 8,386 | 37,495 | 975 | - | - | - | 46,856 | |||||||||||||||||||||
Warrants exercised | 2,235 | 18,967 | - | - | - | - | 21,202 | |||||||||||||||||||||
Employee stock options exercised | 5 | 41 | - | (39 | ) | - | - | 7 | ||||||||||||||||||||
Employee stock options forfeited and | - | 143 | - | (143 | ) | - | - | - | ||||||||||||||||||||
Share-based compensation | - | - | - | 832 | - | - | 832 | |||||||||||||||||||||
Comprehensive loss for the period | - | - | - | - | - | (17,034 | ) | (17,034 | ) | |||||||||||||||||||
BALANCE AT JUNE 30, 2021 | 20,496 | 335,887 | 975 | 12,972 | (1,416 | ) | (295,021 | ) | 73,893 | |||||||||||||||||||
| ||||||||||||||||||||||||||||
| Ordinary | Share |
| Capital | Other | Accumulated | ||||||||||||||||||||||
| shares | premium | Warrants | reserve | loss | deficit | Total | |||||||||||||||||||||
| in USD thousands | |||||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2022 | 21,066 | 339,346 | 975 | 13,157 | (1,416 | ) | (305,041 | ) | 68,087 | |||||||||||||||||||
CHANGES FOR SIX MONTHS ENDED | ||||||||||||||||||||||||||||
Issuance of share capital, net | 89 | 177 | - | - | - | - | 266 | |||||||||||||||||||||
Employee stock options exercised | 2 | 12 | - | (12 | ) | - | - | 2 | ||||||||||||||||||||
Employee stock options forfeited and | - | 135 | - | (135 | ) | - | - | - | ||||||||||||||||||||
Share-based compensation | - | - | - | 586 | - | - | 586 | |||||||||||||||||||||
Comprehensive loss for the period | - | - | - | - | - | (12,373 | ) | (12,373 | ) | |||||||||||||||||||
BALANCE AT JUNE 30, 2022 | 21,157 | 339,670 | 975 | 13,596 | (1,416 | ) | (317,414 | ) | 56,568 |
F - 3
| Ordinary | Share |
| Capital | Other | Accumulated |
| |||||||||||||||||||||
| shares | premium | Warrants | reserve | loss | deficit | Total | |||||||||||||||||||||
| in USD thousands | |||||||||||||||||||||||||||
BALANCE AT APRIL 1, 2021 | 18,731 | 321,920 | 975 | 12,616 | (1,416 | ) | (288,179 | ) | 64,647 | |||||||||||||||||||
CHANGES FOR THREE MONTHS | ||||||||||||||||||||||||||||
Issuance of share capital, net | 1,581 | 12,516 | - | - | - | - | 14,097 | |||||||||||||||||||||
Warrants exercised | 184 | 1,444 | - | - | - | - | 1,628 | |||||||||||||||||||||
Employee stock options exercised | - | 3 | - | (1 | ) | - | - | 2 | ||||||||||||||||||||
Employee stock options forfeited and | - | 4 | - | (4 | ) | - | - | - | ||||||||||||||||||||
Share-based compensation | - | - | - | 361 | - | - | 361 | |||||||||||||||||||||
Comprehensive loss for the period | - | - | - | - | - | (6,842 | ) | (6,842 | ) | |||||||||||||||||||
BALANCE AT JUNE 30, 2021 | 20,496 | 335,887 | 975 | 12,972 | (1,416 | ) | (295,021 | ) | 73,893 | |||||||||||||||||||
| ||||||||||||||||||||||||||||
| Ordinary | Share |
| Capital | Other | Accumulated | ||||||||||||||||||||||
| shares | premium | Warrants | reserve | loss | deficit | Total | |||||||||||||||||||||
| in USD thousands | |||||||||||||||||||||||||||
BALANCE AT APRIL 1, 2022 | 21,066 | 339,444 | 975 | 13,315 | (1,416 | ) | (309,971 | ) | 63,413 | |||||||||||||||||||
CHANGES FOR THREE MONTHS | ||||||||||||||||||||||||||||
Issuance of share capital, net | 89 | 177 | - | - | - | - | 266 | |||||||||||||||||||||
Employee stock options exercised | 2 | 12 | - | (12 | ) | - | - | 2 | ||||||||||||||||||||
Employee stock options forfeited and | - | 37 | - | (37 | ) | - | - | - | ||||||||||||||||||||
Share-based compensation | - | - | - | 330 | - | - | 330 | |||||||||||||||||||||
Comprehensive loss for the period | - | - | - | - | - | (7,443 | ) | (7,443 | ) | |||||||||||||||||||
BALANCE AT JUNE 30, 2022 | 21,157 | 339,670 | 975 | 13,596 | (1,416 | ) | (317,414 | ) | 56,568 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
F - 4
Six months ended June 30, | ||||||||
2021 | 2022 | |||||||
in USD thousands | ||||||||
CASH FLOWS - OPERATING ACTIVITIES | ||||||||
Net loss for the period | (17,034 | ) | (12,373 | ) | ||||
Adjustments required to reflect net cash used in operating activities (see appendix below) | 3,977 | 498 | ||||||
Net cash used in operating activities | (13,057 | ) | (11,875 | ) | ||||
CASH FLOWS – INVESTING ACTIVITIES | ||||||||
Investments in short-term deposits | (58,000 | ) | (9,000 | ) | ||||
Maturities of short-term deposits | 15,776 | 24,141 | ||||||
Purchase of property and equipment | (38 | ) | (62 | ) | ||||
Net cash provided by (used in) investing activities | (42,262 | ) | 15,079 | |||||
CASH FLOWS – FINANCING ACTIVITIES | ||||||||
Issuance of share capital and warrants, net of issuance costs | 46,856 | 266 | ||||||
Exercise of warrants | 10,907 | - | ||||||
Employee stock options exercised | 7 | 2 | ||||||
Repayments of loan | (1,648 | ) | (1,812 | ) | ||||
Repayments of lease liabilities | (122 | ) | (88 | ) | ||||
Net cash provided by (used in) financing activities | 56,000 | (1,632 | ) | |||||
INCREASE IN CASH AND CASH EQUIVALENTS | 681 | 1,572 | ||||||
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 16,831 | 12,990 | ||||||
EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | (28 | ) | (562 | ) | ||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | 17,484 | 14,000 |
F - 5
Six months ended June 30, | ||||||||
2021 | 2022 | |||||||
in USD thousands | ||||||||
Adjustments required to reflect net cash used in operating activities: | ||||||||
Income and expenses not involving cash flows: | ||||||||
Depreciation and amortization | 362 | 314 | ||||||
Exchange differences on cash and cash equivalents | 28 | 562 | ||||||
Fair value adjustments of warrants | 4,889 | (1,673 | ) | |||||
Share-based compensation | 832 | 586 | ||||||
Interest and exchange differences on short-term deposits | (103 | ) | (142 | ) | ||||
Interest on loan | 176 | 68 | ||||||
Exchange differences on lease liability | (26 | ) | (205 | ) | ||||
6,158 | (490 | ) | ||||||
Changes in operating asset and liability items: | ||||||||
Increase in prepaid expenses and other receivables | (1,212 | ) | (688 | ) | ||||
Increase (decrease) in accounts payable and accruals | (969 | ) | 1,676 | |||||
(2,181 | ) | 988 | ||||||
3,977 | 498 | |||||||
Supplemental information on interest received in cash | 39 | 146 | ||||||
Supplemental information on interest paid in cash | 350 | 217 | ||||||
Supplemental information on non-cash transactions: | ||||||||
Acquisition of right-of-use asset | 171 | - | ||||||
Exercise of warrants (portion related to accumulated fair value adjustments) | 10,295 | - |
F - 6
a. | General |
b. | Approval of financial statements |
F - 7
BioLineRx Ltd.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(UNAUDITED)
F - 8
BioLineRx Ltd.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(UNAUDITED)
Number of ordinary shares | ||||||||
December 31, | June 30, | |||||||
2021 | 2022 | |||||||
Authorized share capital |
| 1,500,000,000 |
| 1,500,000,000 | ||||
Issued and paid-up share capital | 715,156,008 | 718,283,665 |
In USD and NIS | ||||||||
December 31, | June 30, | |||||||
2021 | 2022 | |||||||
Authorized share capital (in NIS) |
| 150,000,000 |
| 150,000,000 | ||||
Issued and paid-up share capital (in NIS) | 71,515,600 | 71,828,367 | ||||||
Issued and paid-up share capital (in USD) | 21,066,368 | 21,157,309 |