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

Protalix BioTherapeutics Reports Noteworthy Financial and Business Progress for Q2 2025

Protalix BioTherapeutics, Inc., a prominent player in the biopharmaceutical field, delivered strong Q2 2025 financial results, highlighting a robust revenue increase primarily fueled by its flagship product, Elfabrio®. The company, listed on the NYSE American under the ticker PLX, reported revenues of $15.4 million for the quarter, reflecting a 16% increase compared to the same period in the previous year. This growth is significant not only in monetary terms but also in the strategic partnerships and future developments it entails.

Increased Revenues and Strategic Partnerships

Dror Bashan, the company’s President and CEO, underscored a remarkable 50% surge in revenues from product sales during the first half of the year, emphasizing that sales to Chiesi Farmaceutici have been a major contributor. Chiesi, chosen as the ideal partner for the commercialization of Elfabrio, facilitates Protalix in tapping into a massive global market for Fabry disease treatments, estimated to reach $3.2 billion by 2030.

Despite the positive performance, Bashan cautioned that the market dynamics for Elfabrio remain in flux, with quarterly ordering patterns likely to vary as demand stabilizes during the early phase of the product’s launch.

Research and Development Commitment

On the research and development front, Protalix is actively working on PRX-115, a recombinant PEGylated uricase aimed at addressing uncontrolled gout. The company is gearing up for a randomized Phase 2 trial expected to commence in the second half of 2025, with plans to enroll the first patient by Q4. This trial represents a critical milestone in Protalix’s strategic plan to further diversify and enhance its product offerings.

Leadership Changes

In an organizational update, Protalix announced the departure of Eyal Rubin as Chief Financial Officer after six years. His successor, Gilad Mamlok, brings extensive financial and relevant sector experience, ensuring a smooth transition as the company moves forward with its growth objectives.

Financial Highlights

Analysing the financial specifics, the increase in revenues can be attributed to various factors although there were fluctuations with sales to other partners like Fiocruz and Pfizer. Notably, the cost of goods sold saw a significant reduction from $9.5 million to $5.9 million, suggesting improved operational efficiencies. However, with R&D expenses surging to $6.0 million, reflecting a 100% increase compared to the prior year, Protalix is evidently prioritizing its research for promising drug candidates.

The net income stood at approximately $164,000 for the reviewed quarter, a turnaround from a net loss in 2024, indicating a hopeful trajectory for future profitability.

Looking Ahead

Protalix BioTherapeutics remains optimistic about scaling its operations. The company has been added to the prestigious Russell 3000® and Russell 2000® Indexes, marking a notable recognition of its market position. As Protalix navigates through 2025, the combination of strategic partnerships, robust product pipeline, and a dedicated financial stewardship under Mamlok may well place the company on a path for sustainable growth and recognition in the biopharmaceutical landscape.

In a rapidly evolving healthcare environment, advancements like Elfabrio and the upcoming trials of PRX-115 illustrate Protalix’s commitment to innovation and patient care, promising a brighter future not only for the company but for those affected by chronic diseases they aim to treat.