Quarterly ResultMay 13, 2026, 07:02 AM
Protalix Q1 Net Income $18.3M ($0.23 EPS) vs. Loss; Total Revenue $33.75M
AI Summary
Protalix BioTherapeutics reported a net income of $18.3 million, or $0.23 per share, for Q1 2026, a significant improvement from a net loss of $3.6 million in Q1 2025. Total revenue for the quarter reached $33.75 million, primarily driven by a $25 million milestone payment from Chiesi related to the European Commission's approval of Elfabrio's 2 mg/kg every-4-weeks dosing regimen. The company reaffirmed its 2026 revenue guidance of $78.0-$83.0 million and provided updates on its clinical programs, including the ongoing PRX-115 Phase 2 study for uncontrolled gout.
Key Highlights
- Q1 2026 net income was $18.3 million ($0.23 EPS) compared to a $3.6 million net loss ($0.05 loss EPS) in Q1 2025.
- Total revenue increased to $33.75 million in Q1 2026 from $10.113 million in Q1 2025.
- Revenues from license and R&D services surged to $26.3 million, including a $25 million milestone from Chiesi.
- Cash, cash equivalents, and short-term bank deposits stood at $51.1 million as of March 31, 2026.
- Reaffirmed 2026 total revenue guidance of $78.0-$83.0 million, including the $25 million milestone.
- Elfabrio commercial execution continues following European Commission approval of the 2 mg/kg E4W dosing regimen.
- PRX-115 Phase 2 study for uncontrolled gout continues enrollment, with top-line results expected in H2 2027.