Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 362

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 362
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 issuance costs amounting to approximately $0.9million. No warrants were issued in the transaction.
In accordance with IFRS 15, both agreements have been treated as a single unit of account, with the consideration combined and subsequently allocated between the Gloria Purchase Agreement and the Gloria License Agreement. Of the total consideration amounting to $29.6million, $12.0million were allocated to the Purchase Agreement, and $17.6million were allocated to the Gloria License Agreement. Costs in the amount of $0.7million directly attributable to the Purchase Agreement were recognized as a reduction in equity.
The Company identified the following performance obligations in the contract, each to be recognized separately: (1) stem-cell mobilization (“ SCM”) license; (2) SCM support services; and (3) pancreatic cancer (“ PDAC”) license and related support services.
With regard to PDAC, the Company determined that the license, together with the associated support services, should be combined into a single performance obligation, since the Licensee cannot benefit from the license without the associated support services. The support services are highly specialized for the licensed product in this indication. Licensing rights for other indications and related support were deemed immaterial.
The fixed transaction price has been allocated among the performance obligations based on similar price offers received by the Company, with the assistance of a valuation specialist. The variable consideration related to the performance obligations was not taken into account in the fixed transaction price due to uncertainty.
Revenue has been recognized in the Company’s financial statements as follows:
Revenue for the SCM license was recognized in the fourth quarter of 2023, upon transfer of control over the license to the licensee, in the amount of $ 2.0 million.
Revenue from providing the SCM support services has been recognized using the input method, which is based on costs incurred and labor hours expended, resulting in straight-line revenue recogni...
Revenue from the PDAC performance obligation has been recognized over time, with the percentage of completion determined based on support hours incurred, with a total amount of $ 15.5 million r...
Based on the above methodology, as well as the achievement of a specific regulatory milestone, the Company recognized revenues from the license agreement of $4.6million and $15.0million for the years ended December 31, 2023 and 2024, respectively. Due to a delay in payment of $2.4million to be received from the Gloria Licensee during 2024, a provision for doubtful accounts receivable in the amount of $0