secwatch.observer — SEC 8-K summary
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Issuer:     Protalix BioTherapeutics, Inc. (PLX)
CIK:        0001006281
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001558370-23-010154
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Protalix receives $20M milestone from Chiesi after FDA approval of ELFABRIO
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- $20M milestone triggered by FDA approval of ELFABRIO (pegunigalsidase alfa-iwxj) for Fabry disease; payable within 30 days.
- Proforma cash position including milestone is $51.6M as of May 18, 2023.
- Protalix has received $95M total in upfront and development cost payments from Chiesi under two agreements.
- Eligible for up to $1.0B in future regulatory and commercial milestones plus tiered royalties (15-40% US, 15-35% ex-US).
- CEO Dror Bashan states the payment strengthens financial position; partner Chiesi has global commercial expertise.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006281/000155837023010154/0001558370-23-010154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006281/000155837023010154/plx-20230518x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer