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SEC filings
6-K
BIOLINERX LTD. filed this Form 6-K on 08/11/2016
Entire Document
 

Functional and Presentation Currency
 
Our functional and reporting currency is the U.S. dollar, or dollar, which is the primary currency of the economic environment in which we operate.
 
Results of Operations – Overview
 
Revenues
 
We did not record any material revenues during each of the three- or six-month periods ended June 30, 2016 and 2015.
 
Cost of revenues
 
We did not record any material cost of revenues during each of the three- or six-month periods ended June 30, 2016 and 2015.
 
Research and development expenses
 
At December 31, 2013, our drug development pipeline consisted of 10 therapeutic candidates. During 2014, we added a new compound to our pipeline and discontinued the development of one compound from the pipeline, so that our drug development pipeline as of December 31, 2014 consisted of 10 therapeutic candidates. During 2015, we did not add any new compounds to our pipeline and we discontinued the development of one compound from the pipeline, so that our drug development pipeline as of December 31, 2015 consisted of nine therapeutic candidates. Subsequent to December 31, 2015, we added a new compound to our pipeline and we discontinued the development of three therapeutic candidates in our pipeline, so that our drug development pipeline as of the date of this report consists of seven therapeutic candidates.
 
Operating Results Comparison between Periods
 
Revenues and cost of revenues
 
See discussion under “Results of Operations - Overview” above.
 
Research and development expenses
 
   
Three months ended June 30,
   
Six months ended June 30,
 
   
2015
   
2016
   
Increase
(decrease)
   
2015
   
2016
   
Increase
(decrease)
 
   
(in thousands of U.S. dollars)
 
Research and development expenses, net
   
2,891
     
2,740
     
(151
)
   
6,102
     
5,279
     
(823
)

Comparison of three-month periods ending June 30, 2016 and 2015

Research and development expenses for the three months ended June 30, 2016 were $2.7 million, a decrease of $0.2 million, or 5.2%, compared to $2.9 million for the three months ended June 30, 2015. The small decrease resulted primarily from lower spending on BL-7010 in the 2016 period, partially offset by increased spending related to clinical trial preparations for BL-8040.

Comparison of six-month periods ending June 30, 2016 and 2015

Research and development expenses for the six months ended June 30, 2016 were $5.3 million, a decrease of $0.8 million, or 13.5%, compared to $6.1 million for the six months ended June 30, 2015. The decrease resulted primarily from lower expenditures for BL-7010 during the 2016 period, as well as the conclusion of one of the clinical trials for BL-8040 in 2015.

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