Protalix BioTherapeutics, Inc. (NYSE-American: PLX) is making strides in its pipeline programs and commercial partnerships, according to a recent letter to stockholders from President and CEO Dror Bashan. The company is focused on developing and commercializing recombinant therapeutic proteins using its proprietary ProCellEx plant cell-based expression system.
EMA Validates Variation Submission for Fabry Disease Treatment
Protalix's commercial partner, Chiesi Global Rare Diseases, received validation from the European Medicines Agency (EMA) for its Variation Submission for pegunigalsidase alfa. This submission aims to label a less frequent dosing regimen (every four weeks) for patients with Fabry disease in the European Union. This exemplifies the commitment of Protalix and Chiesi to reducing the treatment burden for individuals living with Fabry disease.
Progress in Pipeline Programs
Protalix has made significant progress in its pipeline programs, including the completion of a Phase I First-in-Human clinical trial evaluating PRX-115, a recombinant PEGylated uricase (urate oxidase) in development for the potential treatment of uncontrolled gout. The trial results demonstrated the potential of PRX-115 as a safe and effective uric-acid lowering treatment with a potentially wide dosing interval. The data was presented at the American College of Rheumatology (ACR) Convergence 2024 conference in November, and the company plans to advance PRX-115 into a Phase II clinical trial in patients with uncontrolled gout in the second half of 2025.
Refining R&D Strategy
Protalix is also refining its R&D strategy, leveraging its ProCellEx platform and other capabilities in prioritized renal rare diseases. The company's R&D team is evaluating plant-based drug delivery systems that may allow protective delivery of different modalities. Further pipeline developments are expected to be shared in the coming year.
Financial Stability and Sales Growth
Protalix reported satisfaction with the growth in sales to Chiesi for Elfabrio, to Pfizer Inc. for Elelyso, and to Brazil for Uplyso, which constitute the company's three revenue streams. The company anticipates continued sales growth in the coming years. Furthermore, Protalix has repaid all outstanding convertible notes, making it a debt-free company, which supports ongoing operations.
