Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 355

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 355
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795 4.57
2.01-3.4 539,910 3.2 449,925 3.18
150,429,825 8.2 141,634,245 7.60

The fair value of equity instruments granted to employees through December 31, 2024 has been determined using the Black-Scholes option-pricing model. These values are based on the following assumptions as of the applicable grant dates:

2022 2023 2024
2022 2023 2024
─────────────────────────────────────────────────────────────────────
Expected dividend yield 0 0 0
Expected volatility 67 69 73
Risk-free interest rate 4 4 4
Expected life of options (in years) 6 6 6

The remaining unrecognized deferred compensation expense as of December 31, 2024 was $0.85million. This amount will be expensed over the remaining vesting period of the equity instruments.

  Stock options to consultants  

From inception through December 31, 2022, the Company issued to consultants options for the purchase of3,495,270ordinary shares at a weighted average exercise price of NIS1.81per share.

In 2023 and 2024 the Company did not issue additional options to consultants.

The options to consultants generally vest over four years and may be exercised for periods of between five and ten years. As of December 31, 2024,925,035options to consultants were outstanding with a weighted average exercise price of NIS1.69per share and a weighted average contractual life of3.6years.

Company management estimates the fair value of the options granted to consultants based on the value of services received over the vesting period of the applicable options. The value of such services (primarily in respect of clinical advisory services) is estimated based on the additional cash compensation the Company would need to pay if such options were not granted. The value of services recorded in each of the years 2022, 2023 and 2024 was not material.

NOTE 13 - TAXES ON INCOME
Corporate taxation
The taxable income of BioLineRx Ltd. is taxed at the standard Israeli corporate tax rate, which was23% for all years included in these financial statements. The taxable income of BioLineRx USA, Inc. is subject to a federal tax rate of21%.
Tax loss carryforwards
As of December 31,