Protalix Biotherapeutics INC (PLX) Q4 2024 earnings call Highlights: record sales growth …

• Income from the sale of goods: 53 million US dollars for the financial year ending on December 31, 2024, an increase of 31% compared to $ 40.4 million in 2023.

• Income from license and F&E services: USD 0.4 million for 2024, a decrease of 98% compared to $ 25.1 million in 2023.

• Costs of the goods sold: $ 24.3 million for 2024, an increase of 6% compared to USD 23 million in 2023.

• Research and development costs: $ 13 million for 2024, a decrease of 24% compared to $ 17.1 million in 2023.

• Sales, general and administrative editions: $ 12.2 million for 2024, a decrease of 19% compared to $ 15 million in 2023.

• Financial income, net: $ 0.2 million for 2024, compared to financial costs, net of USD 1.9 million in 2023.

• Income taxes: USD 1.2 million for 2024, an increase of 300% compared to $ 0.3 million in 2023.

• Cash, cash equivalent and short -term bank deposits: As of December 31, 2024, around 34.8 million US dollars.

• Net income: $ 2.9 million for 2024 or 0.04 USD per share compared to USD $ 8.3 million or $ 0.12 per share per share per share in 2023.

Appearance date: March 17, 2025

You can find the complete copy of the earnings call in the complete earnings call.

• Protalix Biotherapeutics INC (PLX) achieved record income in 2024, which is due to increased sales to partners such as Chiesi and Pfizer.

• The company fully repaid its outstanding debts and reinforced its balance sheet.

• Protalix promotes its F&-E-efforts, especially with PRX-115, which have completed a successful phase 1 study and prepared for phase 2.

• The European Medicines Agency confirmed a new dosage scheme for elfabrio and possibly expanded its market in the EU.

• The cooperation between PROTALIX with Chiesi goes well with the expectations of the considerable sales growth of license fees by 2030.

• The income from license and F&E services decreased by 98% due to the completion of the Elfabrio program.

• Apart from potential milestone payments, the company only expects minimal future income from license and F&E services.

• The net profit dropped from USD 8.3 million in 2023 to USD $ 2.9 in 2024, which indicates a decline in profitability.

• Research and development costs took 24%back, which can affect the pace of new product development.

• Protalix has not provided any specific sales guidelines for 2025 and created uncertainties about future financial services.

Q: When do you expect revenue instructions, especially in relation to the license use of Elfabrio, and what can you disclose through progress? A: Chiesi, a private company, is not open to patient numbers or estimated income. However, they are expanding patients worldwide to Elfabrio, and we expect income north of 100 million US dollars from Chiesi by 2030. Due to the existing sale, we cannot give guidelines for 2025, but Chiesi's performance is promising and our collaboration is strategic for Protalix. – Dror Bashan, President and CEO