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Yahoo
21-07-2025
- Business
- Yahoo
Protalix BioTherapeutics Appoints Gilad Mamlok as its New Senior Vice President and Chief Financial Officer
CARMIEL, Israel, July 21, 2025 /PRNewswire/ -- Protalix BioTherapeutics, Inc. (NYSE American: PLX), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, today announced the appointment of Gilad Mamlok to serve as the Company's new Senior Vice President and Chief Financial Officer, effective August 24, 2025, succeeding Eyal Rubin. To ensure a seamless transition, Mr. Mamlok has joined the company and is working alongside Mr. Rubin. After his tenure as Chief Financial Officer ends, Mr. Rubin will continue to be available to the Company as necessary until October 2025. "With his three decades of experience in healthcare and technology companies, Gilad will play a pivotal role in the execution of our growth strategy, and I am delighted to welcome him to the Protalix team," said Dror Bashan, Protalix's President and Chief Executive Officer. "I also want to thank Mr. Rubin, both personally and on behalf of Protalix and its Board of Directors, for his unwavering dedication and leadership. Over the last six years, Eyal and I have worked in a close, collaborative manner in the management of the Company. He contributed significantly to Protalix's transformation, strengthening the Company's capital and financial status and preparing the Company for growth. We wish Eyal success in his future endeavors." Mr. Mamlok is a seasoned financial executive with three decades of experience in healthcare and technology companies. He has an extensive background in capital markets transactions, mergers and acquisitions, business development and investor relations as well as in corporate governance matters. Most recently, he served as the Chief Financial Officer of TytoCare Ltd., a privately-held company in the remote healthcare space. Prior to his role at TytoCare, Mr. Mamlok served as the Chief Financial Officer of Sol-Gel Technologies Ltd. In this role, he was responsible for an initial public offering and other capital markets transactions, as well as in-licensing and out-licensing transactions. Prior to his role at Sol-Gel, he served in other medical device companies, including Given Imaging which was acquired by Covidien plc in 2014. Mr. Mamlok holds a BA in Economics, magna cum laude, and a Master's degree in Business/Managerial Economics, both from the Tel Aviv University. About Protalix BioTherapeutics, is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx. It is the first company to gain U.S. Food and Drug Administration (FDA) approval of a protein produced through plant cell-based in suspension expression system. This unique expression system represents a new method for developing recombinant proteins in an industrial-scale manner. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights to taliglucerase alfa for the treatment of Gaucher disease, Protalix's first product manufactured through ProCellEx, excluding in Brazil, where Protalix retains full rights. Protalix's second product, Elfabrio®, was approved by both the FDA and the European Medicines Agency in May 2023. Protalix has partnered with Chiesi Farmaceutici S.p.A. for the global development and commercialization of Elfabrio. Protalix's development pipeline consists of proprietary versions of recombinant therapeutic proteins that target established pharmaceutical markets, including the following product candidates: PRX–115, a plant cell-expressed recombinant PEGylated uricase for the treatment of uncontrolled gout; PRX–119, a plant cell-expressed long action DNase I for the treatment of NETs–related diseases; and others. Forward-Looking StatementsTo the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. The terms "expect," "anticipate," "believe," "estimate," "project," "plan," "should" and "intend" and other words or phrases of similar import are intended to identify forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. The statements in this press release are valid only as of the date hereof and we disclaim any obligation to update this information, except as may be required by law. Investor ContactMike Moyer, Managing DirectorLifeSci Advisors+1-617-308-4306mmoyer@ Logo - View original content to download multimedia: SOURCE Protalix Biotherapeutics Inc.
Yahoo
30-06-2025
- Business
- Yahoo
Protalix BioTherapeutics Added to Russell 3000® and 2000 Indexes®
CARMIEL, Israel, June 30, 2025 /PRNewswire/ -- Protalix BioTherapeutics, Inc. (NYSE American: PLX), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, today announced the Company has been added to the Russell 3000® and Russell 2000® Indexes, effective as of the U.S. market close on June 27, 2025, as part of the 2025 Russell indexes annual reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. "We are very pleased to be included in the Russell 3000 and Russell 2000 Indexes," said Dror Bashan, Protalix's President and Chief Executive Officer. "We welcome the enhanced visibility provided by our inclusion in these indexes as we continue progressing on our strategic path." The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About Protalix BioTherapeutics, Inc. Protalix is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx. It is the first company to gain U.S. Food and Drug Administration (FDA) approval of a protein produced through plant cell-based in suspension expression system. This unique expression system represents a new method for developing recombinant proteins in an industrial-scale manner. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights to taliglucerase alfa for the treatment of Gaucher disease, Protalix's first product manufactured through ProCellEx, excluding in Brazil, where Protalix retains full rights. Protalix's second product, Elfabrio®, was approved by both the FDA and the European Medicines Agency in May 2023. Protalix has partnered with Chiesi Farmaceutici S.p.A. for the global development and commercialization of Elfabrio. Protalix's development pipeline consists of proprietary versions of recombinant therapeutic proteins that target established pharmaceutical markets, including the following product candidates: PRX–115, a plant cell-expressed recombinant PEGylated uricase for the treatment of uncontrolled gout; PRX–119, a plant cell-expressed long action DNase I for the treatment of NETs–related diseases; and others. Forward-Looking Statements To the extent that statements in this letter are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. The terms "anticipate," "believe," "estimate," "expect," "can," "continue," "could," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" and other words or phrases of similar import are intended to identify forward-looking statements. These forward-looking statements, including statements regarding the Company's expected inclusion in the Russell 3000® and 2000® Indexes, are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Factors that might cause material differences include, among others: risks related to Elfabrio's market acceptance, competition, reimbursement and regulatory actions, including as a result of the boxed warning contained in the FDA approval received for the product; the possible disruption of our operations due to the war declared by Israel's security cabinet against the Hamas terrorist organization located in the Gaza Strip, the military campaign against the Hezbollah and other terrorist activities and armed conflicts; risks related to the regulatory approval and commercial success of our product candidates, if approved; risks related to our expectations with respect to the projected market of our products and product candidates; failure or delay in the commencement or completion of our preclinical studies and clinical trials; and other factors described in our filings with the U.S. Securities and Exchange Commission. The statements in this letter are valid only as of the date hereof and we disclaim any obligation to update this information, except as may be required by law. Investor ContactMike Moyer, Managing DirectorLifeSci Advisors+1-617-308-4306mmoyer@ Logo: View original content: SOURCE Protalix BioTherapeutics, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-03-2025
- Business
- Yahoo
Protalix BioTherapeutics Inc (PLX) Q4 2024 Earnings Call Highlights: Record Revenue Growth ...
Revenue from Selling Goods: $53 million for the year ended December 31, 2024, an increase of 31% from $40.4 million in 2023. Revenue from License and R&D Services: $0.4 million for 2024, a decrease of 98% from $25.1 million in 2023. Cost of Goods Sold: $24.3 million for 2024, an increase of 6% from $23 million in 2023. Research and Development Expenses: $13 million for 2024, a decrease of 24% from $17.1 million in 2023. Selling, General and Administrative Expenses: $12.2 million for 2024, a decrease of 19% from $15 million in 2023. Financial Income, Net: $0.2 million for 2024, compared to financial expenses, net of $1.9 million in 2023. Income Taxes: $1.2 million for 2024, an increase of 300% from $0.3 million in 2023. Cash, Cash Equivalents, and Short-term Bank Deposits: Approximately $34.8 million as of December 31, 2024. Net Income: $2.9 million for 2024, or $0.04 per share, compared to $8.3 million or $0.12 per share basic and $0.09 per share diluted in 2023. Warning! GuruFocus has detected 4 Warning Signs with PLX. Release Date: March 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Protalix BioTherapeutics Inc (PLX) achieved record revenues in 2024, driven by increased sales to partners like Chiesi and Pfizer. The company fully repaid its outstanding debt, strengthening its balance sheet. Protalix is advancing its R&D efforts, particularly with PRX-115, which completed a successful Phase 1 trial and is preparing for Phase 2. The European Medicines Agency validated a new dosing regimen for Elfabrio, potentially expanding its market in the EU. Protalix's collaboration with Chiesi is progressing well, with expectations of significant revenue growth from royalties by 2030. Revenues from license and R&D services decreased by 98% due to the completion of the Elfabrio program. The company expects minimal future revenues from license and R&D services, aside from potential milestone payments. Net income decreased from $8.3 million in 2023 to $2.9 million in 2024, indicating a decline in profitability. Research and development expenses decreased by 24%, which may impact the pace of new product development. Protalix did not provide specific revenue guidance for 2025, creating uncertainty about future financial performance. Q: When do you expect to provide revenue guidance, particularly regarding the royalty stream from Elfabrio, and what can you disclose about its progress? A: Chiesi, being a private company, does not disclose patient numbers or estimated revenues. However, they are adding patients globally to Elfabrio, and we anticipate revenues north of $100 million from Chiesi by 2030. Most revenues will be royalty-based, offering higher margins. We cannot provide guidance for 2025 due to inventory sales, but Chiesi's performance is promising, and our collaboration is strategic for Protalix. - Dror Bashan, President and CEO Q: Can you explain the differences between PRX-119 and the historical PRX-110 program, and provide insights into the market opportunity for PRX-119? A: PRX-119 is a long-acting DNase, whereas PRX-110 was an acute one. We are finalizing indication selection and will update the market soon. Once the indication is finalized, we can provide potential market size details. - Dror Bashan, President and CEO Q: What are the expected costs and timeline for the PRX-115 Phase 2 study, and will you seek a partner for further development? A: We plan to finance the Phase 2 study with current resources, estimating costs north of $20 million for third-party expenses. Topline results are expected in about two years, depending on enrollment pace. If results are positive, we will likely seek a commercial partner. - Dror Bashan, President and CEO Q: Can you elaborate on the mechanism of action for PRX-115 and its impact on urate crystals in gout treatment? A: PRX-115 uses a uricase from a different source than KRYSTEXXA, with a specific peg covering the enzyme. In Phase 1, it reduced uric acid levels quickly and maintained low levels for extended periods. Further results in patients with severe gout will provide more insights. - Dror Bashan, President and CEO Q: Do you have the 4Q Elfabrio revenue number available? A: The 10-K has been filed, which includes the 4Q Elfabrio revenue details. - Eyal Rubin, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
