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Dec 31, 2023
Protalix Q4 2023 Earnings Report
Protalix reported fiscal year 2023 financial results, highlighted by regulatory approvals for Elfabrio and advancements in the pipeline.
Key Takeaways
Protalix BioTherapeutics reported a successful fiscal year 2023, marked by the regulatory approval of Elfabrio in multiple regions and progress in its clinical pipeline, including PRX-115 for severe gout. The company's financial performance showed increased revenues and a shift to net income, positioning it for future growth.
Elfabrio gained marketing authorizations in the US, EU, UK, Switzerland, and Israel.
Revenue from selling goods increased by 60% to $40.4 million due to Elfabrio sales.
The company recorded net income of $8.3 million, a significant turnaround from the previous year's net loss.
First patient was dosed in Phase I clinical trial of PRX-115 for severe gout.
Revenue by Geographic Location
Forward Guidance
Protalix anticipates continued support for Chiesi's commercial activities and focus on developing a pipeline of innovative assets, with potential for revenue growth and positive impact on patients' lives.
Positive Outlook
- Anticipated publication of PRX-115 trial results in Q2 2024
- Potential for revenue growth.
- Focus on developing a rich pipeline of innovative assets.
- Elfabrio launches underway in multiple markets.
- Solid financials
Challenges Ahead
- Risks related to Elfabrio's market acceptance, competition and reimbursement.
- Possible disruption of operations due to armed conflict.
- Risks related to regulatory approval and commercial success of other product candidates.
- Global conditions such as supply chain challenges and inflationary environment may adversely impact the business.
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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