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Why Did Protalix Plunge 23.53% Despite Strong Q1 Sales?
Generated by AI AgentAinvest Movers Radar
Friday, May 9, 2025 7:47 am ET1min read
On May 9, 2025, Protalix's stock experienced a significant drop of 23.53% in pre-market trading, reflecting investor concerns and potential market shifts.
Protalix BioTherapeutics reported its first-quarter 2025 financial and business results, highlighting a solid quarter with increased revenues from selling goods compared to the prior year. The company's focus on its gout candidate, PRX-115, and the preparation for a phase II clinical trial later this year are key developments. The successful completion of the first-in-human study for PRX-115 showed promising results, indicating its potential as an effective uric acid-lowering treatment with a wide dosing interval, which could enhance patient compliance and treatment flexibility.
Additionally, Protalix's partner, Chiesi Global Rare Diseases, announced multiple presentations on pegunigalsidase alfa and Fabry Disease at the 21st Annual WORLDSymposium™ Research Meeting, further validating the company's pipeline developments. The company's financial performance also showed a net loss of approximately $3.6 million for the quarter, with a focus on advancing its clinical pipeline and managing costs.
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