Protalix BioTherapeutics, Inc.

Listed Company

PLXCIK 0001006281NYSENon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFRFY ends Dec 31

Period

FY 2025

Revenue

$52.74M

Net Income

$-6.60M

Total Assets

$82.35M

Equity

$48.23M

Shares Out

80.57M

Op. Cash Flow

$-11.99M

Business

Protalix BioTherapeutics, Inc. is a commercial-stage biopharmaceutical company that develops, manufactures and commercializes recombinant therapeutic proteins using its proprietary ProCellEx® plant cell-based protein expression system. It offers approved enzyme replacement therapies Elfabrio® (pegunigalsidase alfa) for Fabry disease and Elelyso® (taliglucerase alfa) for Gaucher disease, and it develops pipeline candidates including PEGylated uricase (PRX-115) and long-acting DNase I (PRX-119). Key business activities include proprietary drug development, manufacturing of drug substance, and licensing and supply agreements with partners such as Chiesi, Pfizer and Fiocruz. Its products and services are distributed globally through regulatory approvals and commercial partnerships across the United States, European Union, Great Britain, Switzerland, Brazil, Israel, Russia, Singapore and other markets.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
TOTAL REVENUE	53	53	65	48	38
COST OF GOODS SOLD	−27	−24	−23	−20	−16
RESEARCH AND DEVELOPMENT EXPENSES	−20	−13	−17	−29	−30
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	−12	−12	−15	−12	−13
OPERATING INCOME (LOSS)	−6	4	10	−13	−20
FINANCIAL EXPENSES	−1	−1	−3	—	—
FINANCIAL INCOME	1	1	1	1	401,000
FINANCIAL INCOME (EXPENSES), NET	−108,000	237,000	−2	−1	−7
INCOME (LOSS) BEFORE TAXES ON INCOME	−6	4	9	−14	−28
TAXES ON INCOME	−996,000	−1	−254,000	−530,000	—
NET INCOME (LOSS)	−7	3	8	−15	−28
EARNINGS (LOSS) PER SHARE OF COMMON STOCK - BASIC (in dollars per share)	−0.08	0.04	0.12	−0.31	−0.62
EARNINGS (LOSS) PER SHARE OF COMMON STOCK - DILUTED (in dollars per share)	−0.08	0.04	0.09	−0.31	−0.62
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING EARNINGS (LOSS) PER SHARE - BASIC (in shares)	79	73	68	48	44
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING EARNINGS (LOSS) PER SHARE - DILUTED (in shares)	79	81	82	48	44

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	15	20	24	17	39
Short-term bank deposits	16	15	21	5	0
Restricted deposit	702,000	0	—	—	—
Accounts receivable	9	3	5	5	3
Other assets	1	1	1	1	1
Inventories	26	21	19	17	18
Total current assets	67	60	70	45	62
Funds in respect of employee rights upon retirement	578,000	462,000	528,000	1	2
Property and equipment, net	5	5	5	5	5
Deferred income tax asset	3	3	3	0	—
Operating lease right of use assets	8	5	6	5	5
Total assets	82	73	84	56	74
Trade	5	5	4	6	7
Other	20	20	20	—	—
Operating lease liabilities	1	2	1	1	1
Total current liabilities	27	26	46	32	33
Liability for employee rights upon retirement	661,000	559,000	714,000	2	2
Operating lease liabilities	7	4	5	4	4
Total long term liabilities	8	5	5	34	47
Total liabilities	34	30	51	66	80
COMMITMENTS	—	—	—	—	—
Common Stock, $0.001 par value: Authorized - as of December 31, 2024 and 2025, 185,000,000 shares; issued and outstanding - as of December 31, 2024 and 2025, 75,850,275 and 80,425,981 shares, respectively	80,000	76,000	73,000	54,000	46,000
Additional paid-in capital	433	422	415	379	369
Accumulated deficit	−385	−378	−382	−390	−375
Total stockholders' equity	48	43	34	−11	−6
Total liabilities and stockholders' equity	82	73	84	56	74

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	−7	3	8	−15	−28
Share-based compensation	2	3	3	2	2
Depreciation	1	1	1	1	1
Financial (income) expenses, net	606,000	310,000	−446,000	−989,000	417,000
Changes in accrued liability for employee rights upon retirement	22,000	−151,000	3,000	−543,000	133,000
Changes in deferred income tax asset	340,000	236,000	−3	0	0
Gain on amounts funded in respect of employee rights upon retirement	−20,000	−18,000	−50,000	3,000	−100,000
Loss (gain) on sale of fixed assets	0	−3,000	9,000	0	−51,000
Gain on conversions of convertible notes	0	0	−421,000	0	0
Amortization of debt issuance costs and debt discount	0	0	267,000	300,000	3
Decrease in contracts liability	0	0	−13	−7	13
Decrease (increase) in accounts receivable-trade and other assets	−6	2	−428,000	−1	−1
Changes in operating lease right of use assets, net	−15,000	−4,000	13,000	−5,000	241,000
Increase in inventories	−4	−2	−2	1	−5
Increase in accounts payable and accruals	292,000	696,000	5	−5	2
Net cash provided by (used in) operating activities	−12	9	−1	−25	−10
Investment in bank deposits	−5	−15	−20	−16	−38
Short-term deposit withdrawal	5	20	5	11	—
Purchase of property and equipment	−2	−1	−1	−628,000	−1
Proceeds from sale of property and equipment	0	3,000	0	0	53,000
Amounts paid (funded) in respect of employee rights upon retirement, net	−26,000	80,000	−142,000	593,000	−109,000
Increase in restricted deposit	−702,000	0	0	0	436,000
Net cash provided by (used in) investing activities	−2	4	−17	−5	19
Payment for convertible notes redemption	0	−20	0	0	−30
Proceeds from issuance of common stock under the Sales Agreement, net	7	4	24	8	9
Exercise of warrants and options	3	0	712,000	—	—
Net cash provided by (used in) financing activities	9	−17	25	8	12
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	−47,000	25,000	−114,000	−77,000	6,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	−5	−4	7	−22	21
Purchase of property and equipment	369,000	254,000	614,000	143,000	94,000
Operating lease right of use assets obtained in exchange for new operating lease liabilities	3	376,000	2	794,000	309,000
Convertible notes conversions	0	0	8	—	—
Partial settlement of liability for employee rights upon retirement through transfer of the related funds	0	0	882,000	—	—
Tax paid	1	385,000	—	—	—
Interest paid	0	2	3	2	3
Interest received	651,000	1	355,000	93,000	379,000

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