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Sep 30, 2021
Protalix Q3 2021 Earnings Report
Protalix reported an increase in revenue from selling goods, offset by a decrease in R&D revenue, and a net loss for Q3 2021.
Key Takeaways
Protalix BioTherapeutics reported its Q3 2021 financial results, showing an increase in revenues from selling goods by 36% compared to the same period in 2020. Revenues from license and R&D services remained consistent. The company's net loss for the quarter was $4.2 million, slightly better than the $4.4 million loss in Q3 2020. The company is progressing with its regulatory submissions for PRX-102 and has sufficient capital to fund operations through milestones in 2022.
Revenues from selling goods increased by 36% to $4.5 million compared to Q3 2020.
Revenues from license and R&D services were $7.5 million.
Net loss for the quarter was $4.2 million, an improvement from the $4.4 million loss in Q3 2020.
The company anticipates resubmitting the PRX-102 BLA to the FDA in the second half of 2022 and submitting an MAA to the EMA in the first quarter of 2022.
Forward Guidance
Protalix anticipates resubmitting the PRX-102 BLA to the FDA in the second half of 2022 and submitting an MAA to the EMA in the first quarter of 2022.
Historical Earnings Impact
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