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Positive trial results and an upgrade from Jones Trading may attract investors, similar to historical responses after similar announcements in biotechnology sectors.
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BLRX's Phase 2 trial shows promising results in pancreatic cancer treatment. Pilot study demonstrates a 64% overall response rate using motixafortide combination. Funding secured with a $10 million raise, extending the cash runway. Company plans to significantly reduce operating expenses starting early 2025. Jones Trading upgrades BLRX to 'Buy' with a $12 price target.
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