The following is a summary of the Protalix BioTherapeutics, Inc. (PLX) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Protalix BioTherapeutics reported Q2 2024 revenues of $13.3 million, a decrease of 12% year-over-year, primarily due to a decrease in sales to Chiesi.

• Net loss for Q2 2024 was approximately $2.2 million, in contrast to a net income of $19.3 million in Q2 2023.

• Recorded a tax benefit of approximately $0.1 million in Q2 2024, contrasting with income taxes of $0.3 million in Q2 2023.

• The company's strong cash position will enable the repayment of convertible notes due in September 2024.

Business Progress:

• Successful continuation of PRX-115's clinical development, with plans to initiate a Phase 2 study.

• Expansion of the PRX-115 Phase 1 study to include an eighth cohort to analyze a higher dose.

• Developmental progression of PRX-119 for diseases associated with neutrophil extracellular traps.

• Ongoing efforts to identify assets for targeting renal rare disease indications using the ProCellEx platform.

Opportunities:

• Protalix's strategic partnership with Chiesi Global Rare Diseases aims for deeper market penetration and development of a Fabry disease franchise.

• Potential market expansion through the development of novel plant-based drug delivery systems.

Risks:

• Payer adoption and market penetration rates may impact the financial outcomes more significantly going forward.

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