Protalix BioTherapeutics Reports Strong Q1 2025 Growth

Protalix Biotherapeutics ( (PLX) ) has released its Q1 earnings. Here is a breakdown of the information Protalix Biotherapeutics presented to its investors.

Protalix BioTherapeutics, Inc. is a biopharmaceutical company specializing in the development and commercialization of recombinant therapeutic proteins using its proprietary plant cell-based expression system, ProCellEx. The company operates in the biotechnology sector and is notable for being the first to achieve FDA approval for a protein produced through this unique method.

In its first quarter of 2025, Protalix BioTherapeutics reported a significant increase in revenues from selling goods, marking a 170% rise compared to the same period last year. This growth was primarily driven by increased sales to Pfizer Inc. and Fundação Oswaldo Cruz. The company also highlighted its progress in clinical trials, particularly for its gout treatment candidate, PRX-115, and its continued collaboration with Chiesi Global Rare Diseases on pegunigalsidase alfa for Fabry Disease.

Key financial metrics for the quarter include total revenues of $10.1 million, with a notable increase in the cost of goods sold to $8.2 million. Research and development expenses rose by 21% to $3.5 million, reflecting advancements in the clinical pipeline. The company managed to reduce its net loss to $3.6 million, or $0.05 per share, compared to a loss of $4.6 million, or $0.06 per share, in the previous year.

Strategically, Protalix is preparing to initiate a phase II clinical trial for PRX-115 later this year, following promising results from its first-in-human study. The company is also evaluating additional pipeline candidates for further development, including PRX-119 and other early-stage clinical assets.

Looking ahead, Protalix BioTherapeutics remains focused on advancing its clinical trials and exploring new opportunities within its pipeline. The management is optimistic about building on the current momentum and achieving further growth in the coming quarters.