Protalix Q2 2024: revenue $13.5M, net loss $2.2M; PRX-115 Phase I topline expected Q3

Protalix BioTherapeutics, Inc.

2024-Q2 EPS reported -$0.09 revenue$17,222,000

Total Q2 2024 revenue $13.5M vs $35.1M in Q2 2023; net loss $2.2M ($0.03/sh) vs net income $19.3M ($0.29/sh).
Product revenue from goods $13.3M (-12% YoY); license & R&D revenue $0.2M (vs $20.0M milestone from Chiesi in Q2 2023).
PRX-115 (uncontrolled gout) Phase I: positive topline from first 7 cohorts; 8th cohort dosed, full results expected Q3 2024.
Cash, cash equivalents and short-term bank deposits $45.0M at June 30, 2024; post-quarter collected $4.6M from Pfizer, $2.3M from Brazil.
R&D expenses decreased 33% to $3.0M due to completion of Fabry clinical program and Elfabrio regulatory processes.

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