A memory device including an array of memory cells including bit lines, and biasing circuitry cells. A sense amplifier has a data line input connected to a data line, and a reference input. The controllable reference current source can be connected to the reference input of the sense amplifier. Control circuits on the device are configured to cause execution of a read operation, where the read operation includes a first phase in which the array is biased to induce leakage current on the selected bit line, and a second phase in which the array is biased to read a selected memory cell on the selected bit line. A circuit on the device is configured to sample the leakage current in the first phase, and to control the controllable reference current source during the second phase, as a function of the sampled leakage current.