Protalix BioTherapeutics Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw a $25M milestone from Chiesi, driving net income to $18.2M and cash to $51M. Revenue guidance for 2026 is reaffirmed at $78–$83M, with strong momentum for Elfabrio and ongoing PRX-115 clinical progress.
Fiscal Year 2025
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EU approval of Elfabrio's four-week dosing triggered a $25M milestone, boosting projected 2026 cash to $50M and supporting revenue growth over 50%. Pipeline advances in gout and renal indications, with strong commercial execution and high-margin contributions from Chiesi.
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Nine-month revenues rose 24% year-over-year to $43.6 million, with Q3 net income of $2.4 million. PRX-115 phase II trial is set to begin soon, and cash reserves of $29.4 million are expected to fund operations for at least 12 months.
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The presentation highlighted a unique plant cell technology platform, two approved drugs, and a promising pipeline asset for gout. Key catalysts include an EMA decision on monthly Elfabrio dosing and the start of a pivotal phase II trial for PRX-115, with strong financial footing supporting ongoing operations.
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Q2 2025 saw a 16% revenue increase and a return to profitability, driven by strong Elfabrio sales to Chiesi and reduced costs. R&D spending doubled in preparation for PRX-115 phase II, and the company expects Elfabrio royalties to exceed $100 million by 2030.
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A unique plant cell-based biotech platform supports two approved drugs and a promising pipeline, with Elfabrio targeting significant Fabry market share and PRX-115 poised for a paradigm shift in gout treatment. Revenue is growing, with strong cash reserves and no debt.
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Q1 2025 saw a 170% revenue increase from higher sales to Pfizer and Fiocruz, a narrowed net loss, and strong cash reserves. Clinical progress continued for PRX-115 and Elfabrio, with a phase two gout trial planned for later in 2025.
Fiscal Year 2024
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Record 2024 revenues driven by Chiesi sales, debt fully repaid, and R&D advanced for PRX-115 and PRX-119. Net income declined year-over-year, but balance sheet strengthened and phase II PRX-115 trial set for H2 2024. Royalty revenues from Elfabrio expected to grow.
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Q3 2024 saw strong revenue growth and a return to profitability, driven by increased sales to Chiesi and Pfizer, completion of PRX-115 phase 1 with promising results, and a debt-free balance sheet. Focus remains on rare renal diseases and advancing the PRX-115 program.
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Q2 2024 saw a 12% drop in product sales and a shift to net loss due to the absence of milestone revenue, but cash reserves remain strong. PRX-115 phase I interim results were positive, with full data expected in Q4 and phase II planned for 2025. Chiesi continues to drive Elfabrio uptake in key markets.
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The company is prioritizing rare renal diseases and expanding its innovative pipeline, with Phase II of the PRX-115 gout program set for mid next year. Financially, it expects to be debt-free by year-end and aims for significant revenue growth through strong partnerships and new product launches.