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Sep 30, 2024
Protalix Q3 2024 Earnings Report
Protalix reported positive Q3 2024 results driven by increase in revenues and progress in PRX-115 clinical trial.
Key Takeaways
Protalix BioTherapeutics reported a strong third quarter with a 75% increase in revenue from selling goods, primarily due to increased sales to Chiesi and Pfizer. The company also made progress with its PRX-115 clinical trial for uncontrolled gout, with encouraging preliminary results from the Phase I study.
Revenues from selling goods increased by 75% to $17.8 million compared to Q3 2023.
Net income was $3.2 million, or $0.04 per share, compared to a net loss of $1.9 million in Q3 2023.
PRX-115 Phase I trial for gout showed promising preliminary results, with planning for a Phase II trial in the second half of 2025.
The company repaid in full all outstanding principal and interest under its 7.50% Senior Secured Convertible Promissory Notes due September 2024.
Revenue by Segment
Forward Guidance
Protalix is actively planning a phase II clinical trial of PRX-115 in gout patients and expect to initiate the study in the second half of 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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