In This Article:
Release Date: May 09, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Protalix BioTherapeutics Inc (PLX) reported a significant increase in revenues from selling goods, reaching $10 million, a 170% increase compared to the previous year.
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The company is progressing with the clinical development of PRX 115, with plans to initiate a phase two clinical trial for gout later this year.
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Protalix BioTherapeutics Inc (PLX) is evaluating additional pipeline candidates, including PRX 119, which shows potential for further development.
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The company has a strong partnership with PSE Global Rural Diseases, which is actively investing in medical and commercial programs.
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Protalix BioTherapeutics Inc (PLX) has a solid financial position with cash, cash equivalents, and short-term bank deposits totaling approximately $34.7 million.
Negative Points
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The cost of goods sold increased significantly by 215% to $8.2 million, primarily due to increased sales to Pfizer and Cruz in Brazil.
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Research and development expenses rose by 21% to $3.5 million, driven by advancements in the clinical pipeline.
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The company expects minimal revenues from license and R&D services going forward, aside from potential regulatory milestone payments.
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There is uncertainty regarding the approval of the dosing frequency change for El Faulo by the European Medicine Agency.
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Protalix BioTherapeutics Inc (PLX) faces potential competition in the gout treatment market, which could impact the success of PRX 115.
Q & A Highlights
Q: Can you provide any updates on the El Fabrio milestone and its progress? A: The sales efforts and outcomes for El Fabrio are strong, with recruitment of commercial patients exceeding expectations. However, specific numbers cannot be disclosed due to confidentiality agreements. (Respondent: CEO)
Q: Is there any plan to change the dosing frequency for El Fabrio in the United States similar to the EMA submission in the EU? A: The application for changing the dosing frequency is currently under review in the EU, and there are no red flags. Any updates regarding the US will be provided when available. (Respondent: CEO)
Q: How does Novartis's product fit into the treatment landscape for gout, and how does it compare to your PRX 115? A: We are encouraged by the phase one results of PRX 115 and will know more after the phase two study. We cannot comment on specific competition, but the market is larger than one program. (Respondent: CEO)