Protalix BioTherapeutics Reports Second Quarter 2025 Financial and Business Results

Core Viewpoint - Protalix BioTherapeutics reported a significant increase in revenues driven by the sales of Elfabrio® and provided updates on its product pipeline and management changes [2][4][6]. Financial Highlights - Revenues from selling goods for Q2 2025 were $15.4 million, a 16% increase from $13.3 million in Q2 2024, primarily due to an $8.0 million increase in sales to Chiesi [6][7]. - Cost of goods sold decreased by 38% to $5.9 million in Q2 2025 from $9.5 million in Q2 2024 [7]. - Research and development expenses doubled to approximately $6.0 million in Q2 2025 from $3.0 million in Q2 2024, mainly due to preparations for the Phase 2 trial of PRX-115 [7][17]. - Selling, general, and administrative expenses decreased by 26% to $2.6 million in Q2 2025 from $3.5 million in Q2 2024 [7]. - The net income for Q2 2025 was approximately $164,000, compared to a net loss of $2.2 million in Q2 2024 [7][17]. Business Updates - Protalix is advancing the development of PRX-115, with a Phase 2 trial expected to start in the second half of 2025 [2][4]. - The company appointed Gilad Mamlok as the new Chief Financial Officer, succeeding Eyal Rubin, who will assist during the transition until October 2025 [3][6]. - Protalix has been added to the Russell 3000® and Russell 2000® Indexes as of June 27, 2025 [6]. Product Pipeline - Elfabrio® is positioned for growth in the Fabry disease market, which is currently valued at approximately $2.3 billion and is expected to grow to $3.2 billion by 2030 [2][12]. - The European Medicines Agency is reviewing a submission for a new dosing regimen for Elfabrio® [6].