Protalix BioTherapeutics Q1 2025: Unpacking Contradictions in Revenue, Market Opportunities, and Clinical Trials

Elfabrio revenue projections, PRX-119 market opportunity, PRX-115 clinical trial timing and duration, and gout trial enrollment and location are the key contradictions discussed in Protalix BioTherapeutics' latest 2025Q1 earnings call.



Revenue Growth and Product Performance:
- Protalix BioTherapeutics reported revenues from selling goods of $10 million for Q1 2025, which represents a 170% increase from $3.7 million in Q1 2024.
- The growth was primarily driven by increased sales to Pfizer and Fiocruz in Brazil.

Pipeline Development and Clinical Progress:
- The company is focusing on advancing its pipeline, with plans to initiate a Phase 2 clinical trial for its gout product candidate, PRX-115, later in 2025.
- Positive results from the Phase 1 trial showed that PRX-115 effectively reduced plasma uric acid levels, suggesting a long-acting effect and potential for wider dosing intervals.

Elfabrio and Chiesi Partnership:
- Elfabrio, a commercial product of Protalix, continues to be supported by Chiesi Global Rare Disease with ongoing investment and a focus on expanding its medical and commercial programs.
- Chiesi has submitted a variation submission to reduce the dosing frequency for pegunigalsidase alfa to every four weeks, which is currently undergoing review by the EMA.