Protalix BioTherapeutics' Q4 2024 Earnings Call: Unraveling Revenue Contradictions and Market Strategies

These are the key contradictions discussed in Protalix BioTherapeutics' latest 2024Q4 earnings call, specifically including: Revenue Expectations from Elfabrio and Royalty Stream, Market Opportunity for PRX-119, Royalty Revenue Expectations, PRX-115 Market Positioning, and Development Strategy for PRX-115:



Revenue Growth and Diverse Revenue Streams:
- Protalix BioTherapeutics reported revenues from selling goods of $53 million for the year ended December 31, 2024, an increase of 31% compared to the previous year.
- The growth was driven by an increase of $11.8 million in sales to Chiesi, $0.6 million in sales to Brazil, and $0.1 million in sales to Pfizer.

Research and Development Cost Reduction:
- Total research and development expenses decreased by 24% for the year ended December 31, 2024, compared to the previous year.
- This reduction resulted primarily from the completion of the Fabry clinical program and the regulatory process related to the review of the biologic license application and marketing authorization application for Elfabrio.

Strategic Partnership and Intellectual Property Milestones:
- In December 2024, Protalix and Chiesi announced that the European Medicine Agency validated a variation submission for Pegunigalsidase alfa.
- This application was supported by a revised population PK model and a new exposure response analysis, enhancing the IP portfolio and strategic partnership with Chiesi.