Protalix BioTherapeutics Inc. Reports First‑Quarter 2026 Financial and Business Results

Protalix BioTherapeutics Inc. (NYSE American: PLX), a biotechnology company specializing in plant cell culture and bioreactor technologies, released its financial and operational results for the first quarter ended March 31 2026 on May 13 2026. The company confirmed its 2026 revenue guidance of $78.0 – $83.0 million and reiterated its strategic focus on rare disease therapeutics.

Financial Highlights

  • Cash Position – Cash, cash equivalents, and short‑term bank deposits totaled $51 million as of March 31 2026, sufficient to fund ongoing operations, including the Phase 2 RELEASE trial of PRX‑115 in Israel.
  • Milestone Income – Following the European Commission approval of the 2 mg/kg every‑4‑weeks (E4W) dosing regimen for Elfabrio, Protalix received a $25 million milestone payment from partner Chiesi Farmaceutici.
  • Revenue Guidance – The company maintained its 2026 revenue range of $78.0 – $83.0 million, incorporating the newly received milestone.

Operational Update

  • Elfabrio® for Fabry Disease – The partnership with Chiesi continues to support the launch and expansion of Elfabrio across approved markets. The E4W option, now approved in the European Union, is expected to reduce treatment burden without compromising efficacy, enhancing competitive positioning.
  • PRX‑115 Phase 2 RELEASE – Enrollment in the Phase 2 study for PRX‑115 (CARMIEL) proceeds as planned, with top‑line data anticipated in the second half of 2027.
  • Rare Renal Diseases Focus – Protalix highlighted an increasing emphasis on therapies for rare renal diseases, positioning the company for growth in this segment.

Management Commentary

Dror Bashan, President and Chief Executive Officer, stated that “Protalix entered 2026 with positive momentum. With the recent regulatory progress for Elfabrio in Europe, continued enrollment in PRX‑115, and a growing focus on rare renal diseases, we believe the company is entering a pivotal period of growth and clinical advancement.” Bashan reaffirmed confidence in the 2026 guidance and emphasized the company’s business model as a platform for long‑term value creation.

Investor Relations

A conference call and webcast to discuss the results were scheduled for 8:00 a.m. EDT on May 13 2026. Investors were encouraged to review the full earnings release and accompanying presentation on Protalix’s website (www.protalix.com ).

Contextual Overview

Protalix BioTherapeutics Inc. trades on the NYSE American under the ticker PLX. As of May 11 2026, the stock closed at $1.91. The company’s 52‑week high was $3.19 on February 22 2026, while the 52‑week low was $1.32 on June 22 2025. The market capitalization stands at approximately $154 million, and the price‑earnings ratio is negative at –20.419, reflecting ongoing investments in research and development.

The company’s foundational expertise lies in plant cell culture technology and bioreactor systems, applied to the development of innovative therapeutics for rare diseases. The 1998 IPO established Protalix as a public entity focused on delivering high‑impact treatments in unmet therapeutic areas.