Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 42

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 42
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ADSs, or any securities that are exercisable for or convertible into our ordinary shares or ADSs, may have an adverse effect on the market
price of our ordinary shares and ADSs and will have a dilutive effect on our shareholders.

Raising additional capital
by issuing securities may cause dilution to existing shareholders.

We expect that we will need to raise substantial future capital
to continue to complete clinical development and commercialize our products and therapeutic candidates and to conduct the research and
development and clinical and regulatory activities necessary to bring our therapeutic candidates to market. Our future capital requirements
will depend on many factors, including:

  the failure to obtain regulatory approval,                                                  

  our success in effecting out-licensing arrangements  

  our success in establishing other out-licensing  

  the success of our licensees in selling  

  the results of our preclinical studies and                                                                                                   

  the costs, timing and outcome of regulatory                             

  the costs of establishing or acquiring specialty                                                                                        

  the costs of preparing, filing and prosecuting                                                                         

  the extent to which we acquire or invest                                        

  the costs of financing unanticipated working                   

If we raise additional funds through licensing arrangements with
third parties, we may have to relinquish valuable rights to our therapeutic candidates or grant licenses on terms that are not favorable
to us. If we raise additional funds by issuing equity or convertible debt securities, we will reduce the percentage ownership of our then-existing
shareholders, and these securities may have rights, preferences or privileges senior to those of our existing shareholders. See also “ - 
Future sales of our ordinary shares or ADSs could reduce the market price of our ordinary shares and ADSs.”

25

As a foreign private issuer,
we follow certain home country corporate governance practices instead of applicable Nasdaq requirements, which may result in less protection
than is accorded to investors under rules applicable to domestic issuers.

As a foreign private issuer, we are permitted to follow certain
home country corporate governance practices instead of those otherwise required under the Listing Rules of the Nasdaq Stock Market, or
the Nasdaq Rules, for U. S. domestic issuers. For instance, we follow home country practice in Israel with regard to, among other things,
director nomination procedure, approval of compensation of officers, and quorum at shareholders’ meetings. In addition, we will
follow our home country law, instead of the Nasdaq Rules, which require that we obtain shareholder approval for certain dilutive events,
such as for the