BioLineRx Faces Breach of Contract Lawsuit
Ticker: BLRX · Form: 6-K · Filed: Jun 18, 2024 · CIK: 1498403
| Field | Detail |
|---|---|
| Company | Biolinerx LTD. (BLRX) |
| Form Type | 6-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $6.5 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: lawsuit, litigation, contract-dispute
Related Tickers: BLRX
TL;DR
BioLineRx sued by Biokine for breach of contract, court date set.
AI Summary
On June 16, 2024, Biokine Therapeutics Ltd. filed a complaint against BioLineRx Ltd. in the District Court of Jerusalem, alleging breach of contract and a purported failure to fulfill contractual obligations. The specific details of the alleged failures and the exact amount of damages sought are not yet disclosed in this filing.
Why It Matters
This lawsuit could impact BioLineRx's operations and financial standing if the claims are found to be valid, potentially leading to damages or specific performance requirements.
Risk Assessment
Risk Level: medium — A breach of contract lawsuit introduces legal and financial uncertainty for the company.
Key Players & Entities
- Biokine Therapeutics Ltd. (company) — Plaintiff in lawsuit
- BioLineRx Ltd. (company) — Defendant in lawsuit
- District Court of Jerusalem (company) — Court where lawsuit was filed
- T.A. 31677-06-24 (other) — Case number for the lawsuit
FAQ
What specific contract is alleged to have been breached?
The filing does not specify which contract was allegedly breached, only that a complaint was filed for breach of contract.
What are the specific allegations of failure to fulfill contractual obligations?
The filing states a 'purported failure to fulfill contractual obligations' but does not detail the nature of these failures.
What is the amount of damages sought by Biokine Therapeutics Ltd.?
The filing does not disclose the specific amount of damages sought by Biokine Therapeutics Ltd.
When was the complaint filed?
The complaint was filed on June 16, 2024.
Which court is handling the lawsuit?
The lawsuit was filed with the District Court of Jerusalem.
Filing Stats: 239 words · 1 min read · ~1 pages · Grade level 9.3 · Accepted 2024-06-18 16:05:49
Key Financial Figures
- $6.5 million — damages in the amount of approximately $6.5 million and a declaratory judgment in favor of
Filing Documents
- zk2431592.htm (6-K) — 10KB
- 0001178913-24-002001.txt ( ) — 11KB
From the Filing
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2024 Commission file number: 001-35223 BioLineRx Ltd. (Translation of registrant's name into English) 2 HaMa'ayan Street Modi'in 7177871, Israel (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F On June 16, 2024, Biokine Therapeutics Ltd. ("Biokine"), filed a complaint with the District Court of Jerusalem against BioLineRx Ltd. (the "Company"), entitled Biokine Therapeutics Ltd. v. BioLineRx Ltd., T.A. 31677-06-24 . The complaint alleges breach of contract and a purported failure to make certain payments to Biokine under the Company's in-licensing agreement with Biokine for motixafortide. The lawsuit seeks compensatory damages in the amount of approximately $6.5 million and a declaratory judgment in favor of Biokine. The Company intends to vigorously defend itself against such action. This report on Form 6-K is incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: June 18, 2024 BioLineRx Ltd. By: /s/ Philip A. Serlin Philip A. Serlin Chief Executive Officer