Protalix Q3 net income $3.2M, revenue up 75%; PRX-115 Phase I positive

Protalix BioTherapeutics, Inc.

2024-Q3 EPS reported -$0.05 revenue$35,181,000

Revenue from goods $17.8M (+75% YoY); net income $3.2M vs loss $1.9M in Q3 2023; EPS $0.04 basic.
PRX-115 Phase I completed all eight cohorts; single dose lowered uric acid below 6.0 mg/dL for up to 12 weeks at highest doses.
PRX-115 well-tolerated: 25% of treated subjects reported mild-to-moderate AEs; one resolved anaphylactic reaction.
Cash $27.4M at Sept 30; repaid 7.5% senior secured convertible notes due Sept 2024 from available cash.
Planning phase II trial of PRX-115 in gout patients, initiation expected H2 2025.

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