Protalix Biotherapeutics ( (PLX) ) has released its Q2 earnings. Here is a breakdown of the information Protalix Biotherapeutics presented to its investors.
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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 within the pharmaceutical industry and is notable for being the first to receive FDA approval for a protein produced through a plant cell-based system.
In its second quarter of 2025, Protalix BioTherapeutics reported a significant increase in revenues, driven primarily by the sales of Elfabrio, its treatment for Fabry disease. The company also highlighted advancements in its product pipeline, particularly with PRX-115, a potential treatment for uncontrolled gout, as it prepares for a Phase 2 trial.
Key financial metrics for the quarter include a 16% increase in revenues from selling goods, totaling $15.4 million, and a notable reduction in the cost of goods sold by 38%. The company also saw a 100% increase in research and development expenses, reflecting its commitment to advancing clinical trials. Additionally, Protalix reported a net income of $164,000, a significant turnaround from a net loss in the same quarter of the previous year.
Strategically, Protalix announced the appointment of Gilad Mamlok as the new Chief Financial Officer, succeeding Eyal Rubin. The company was also added to the Russell 3000 and Russell 2000 indexes, marking a milestone in its corporate growth.
Looking ahead, Protalix remains optimistic about its growth prospects, particularly with the expansion of its Elfabrio franchise and ongoing development of its product candidates. The management expresses confidence in its strategic plan and anticipates continued progress in its clinical and commercial endeavors.