#Israel #Elfabrio #Carmiel #PRX-115 #Protalix

Protalix BioTherapeutics Reports Second Quarter 2026 Financial Results

Protalix BioTherapeutics, Inc. (NYSE American: PLX), a biopharmaceutical company dedicated to developing innovative treatments for rare diseases, has shared its financial outcomes for the second quarter of 2026, demonstrating notable progress and operational advancements. The company's revenues from product sales rose to $19.8 million during the quarter, marking a rise of $4.4 million over the same period in 2025, largely attributable to robust sales of its flagship product, Elfabrio.

Total revenue climbed to $53.6 million for the year-to-date, which is a significant increase from $25.8 million in the first half of last year. This figure includes a $25 million milestone payment from Chiesi, underscoring Protalix's solid partnership endeavors. Importantly, the company reported a net income of $22.1 million, highlighting its profitability for the year.

"As we advance into the second half of 2026, we feel confident with a strong foundation for growth driven by the increasing global adoption of Elfabrio and progressing clinical trials for PRX-115," stated Dror Bashan, President and CEO of Protalix BioTherapeutics.

Operational Highlights

Significant milestones were achieved in product development and therapy approvals this quarter. On May 4, 2026, the U.S. Patent and Trademark Office extended the patent for Elfabrio, extending protections until November 17, 2035. Additionally, Elfabrio received orphan drug designation and marketing authorization in South Korea, further broadening its market reach.

As for the ongoing clinical initiatives, patient enrollment for the PRX-115 Phase 2 RELEASE clinical trial continues, with expected results anticipated in the latter half of 2027. This promising treatment targets uncontrolled gout and signifies a pivotal area of focus for Protalix.

The company's financial strategy remains robust, with $40.7 million in cash and short-term deposits as of June 30, 2026. This financial cushion supports ongoing research and operational activities, facilitating continued advancements towards meeting patient needs in rare renal diseases.

Financial Overview

The company reiterated its guidance for total revenue in 2026, projecting between $78 million to $83 million, which encompasses anticipated ongoing sales growth from Elfabrio and its established product range, including Elelyso. The company forecasts Elfabrio sales to yield approximately $33 million to $35 million and sales for Elelyso between $20 million and $23 million this year.

In terms of costs, Protalix reported an increase in revenue costs, totaling $7.8 million for the second quarter; however, this is reflective of higher sales volumes and strategic partnerships, especially with Chiesi and Fiocruz in Brazil. Research and development expenditures showed a slight decrease, emphasizing effective resource management amidst expanding clinical efforts.

Looking Ahead

As Protalix BioTherapeutics navigates the rest of 2026, priorities will focus on enhancing support for commercial partners, driving the development of PRX-115 for uncontrolled gout, and advancing preclinical programs targeting rare renal conditions. By ensuring a balance between profitability and innovation, Protalix aims to solidify its growth trajectory while addressing significant unmet needs in rare disease treatments.

In summary, Protalix BioTherapeutics showcases a remarkable financial performance bolstered by the successful integration of Elfabrio into the market, sustained partnerships, and a promising pipeline, demonstrating a fundamental commitment to meeting the needs of patients facing rare diseases. For investor relations and further details, the company will host a conference call on August 12, 2026, at 8:00 a.m. EDT.

Protalix BioTherapeutics remains a key player in the biopharmaceutical sector, paving the way for innovative therapies and building value for stakeholders extensively. For more information about Protalix and its product offerings, visit www.protalix.com.