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Mar 31, 2023
Protalix Q1 2023 Earnings Report
Protalix reported financial results for Q1 2023, showing a decrease in revenue compared to the same period last year, along with a net loss.
Key Takeaways
Protalix BioTherapeutics reported a decrease in revenue and a net loss for the first quarter of 2023. The company is awaiting decisions from the European Commission and the FDA regarding PRX-102 and is progressing with the PRX-115 program.
Total revenue decreased by 40% to $9.6 million compared to $16.1 million in Q1 2022.
Net loss increased to $3.1 million, or $0.05 per share, compared to a net loss of $2.3 million, or $0.05 per share in Q1 2022.
Revenues from selling goods decreased by 43% to $5.1 million due to timing differences in sales to Brazil and Pfizer.
Revenues from license and R&D services decreased by 37% to $4.5 million, primarily related to the Chiesi Agreements.
Forward Guidance
Protalix is awaiting decisions from the European Commission and the FDA regarding PRX-102 and the company is progressing with the PRX-115 program.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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