NYSE$PLX
Protalix Biotherapeutics Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Protalix reported a net loss and a decrease in revenue for Q1 2021 due to lower sales to Brazil and decreased revenue from license and R&D services, partially offset by increased sales to Pfizer.
Protalix BioTherapeutics reported a net loss of $5.5 million for the first quarter of 2021, compared to a net income of $1.7 million for the same period in 2020. Total revenue decreased by 47.7% to $11.32 million, driven by a decrease in sales to Brazil and a decrease in license and R&D services revenue.
- Received a Complete Response Letter from the FDA for PRX-102 due to travel restrictions preventing facility inspection.
- Secured $10 million milestone payment from Chiesi in exchange for a future reduction in regulatory milestone payment.
- Closed a public offering of common stock, raising approximately $40.2 million in gross proceeds.
- Partnered with SarcoMed USA Inc. for the worldwide development and commercialization of alidornase alfa (PRX-110).
Headline financials
Revenue & EPS history
Protalix · Revenue · Quarterly
$11.3M
Revenue by segment
Protalix · $3.18M total across 1 segment · Q2 2021
- License & R&D$3.18M—100.0%
Forward guidance
The company believes that it is prudent to secure short-term funds in order to continue development of PRX-102 while waiting for the FDA’s required inspection and subsequent assessment described in the CRL.
Tailwinds
- Advancing earlier stage pipeline.
- Working closely with the FDA.
- FDA did not report any potential safety or efficacy concerns for PRX-102.
- Believe that it is prudent to secure short-term funds in order to continue development of PRX-102.
- Chiesi agreed to make a $10.0 million milestone payment to the Company before the end of the second quarter.
Headwinds
- Receipt of the Complete Response Letter from the FDA was disappointing.
- An inspection of the Company’s manufacturing facility in Carmiel, Israel, including the FDA’s subsequent assessment of any related findings is required before the FDA can approve the BLA.
- Due to travel restrictions relating to the COVID-19 pandemic, the FDA was unable to conduct the required inspection during the review cycle.
- Net loss for the three months ended March 31, 2021 was approximately $5.5 million, compared to a net income of $1.7 million for the same period in 2020.
- The Company recorded revenues from selling goods of $4.5 million during the three months ended March 31, 2021, a decrease of $0.5 million, or 10%, compared to revenues of $5.0 million for the same period of 2020.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2021
-1.3%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-6.0%
Avg return
30 days after
44%
28 / 64 earnings
Positive
+15.7%
Q2 2023
Best reaction
-36.4%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | +0.0% | — | |
| Q4 2025 | +1.8% | -23.7% | -16.8% | |
| Q3 2025 | -10.9% | -12.1% | -16.4% | |
| Q1 2025 | +0.0% | +2.4% | -10.8% | |
| Q4 2024 | +9.4% | +11.2% | +16.1% | |
| Q3 2024 | +12.9% | +31.5% | +45.2% | |
| Q2 2024 | -8.7% | -7.7% | +1.0% | |
| Q1 2024 | -8.8% | -9.6% | -10.4% | |
| Q4 2023 | -12.5% | -14.5% | -22.4% | |
| Q3 2023 | -18.9% | -27.6% | -14.1% | |
| Q2 2023 | +15.7% | +15.7% | +13.9% | |
| Q1 2023 | +3.8% | -7.3% | -29.8% | |
| Q4 2022 | +6.6% | +12.6% | +11.0% | |
| Q3 2022 | +0.9% | +1.9% | +10.5% | |
| Q2 2022 | -0.4% | -2.4% | -11.4% | |
| Q1 2022 | +0.9% | +7.5% | +1.9% | |
| Q4 2021 | +0.0% | +40.0% | +10.5% | |
| Q3 2021 | -3.5% | -14.0% | -21.9% | |
| Q2 2021 | +2.2% | +0.0% | -0.7% | |
| Q1 2021 | +0.7% | -1.0% | -24.4% | |
| Q4 2020 | -5.1% | -4.5% | -24.7% | |
| Q3 2020 | -7.9% | -9.3% | +2.0% | |
| Q2 2020 | +2.2% | +3.3% | -6.1% | |
| Q1 2020 | +2.7% | +7.5% | +12.3% | |
| Q4 2019 | -3.0% | -5.1% | +3.8% | |
| Q3 2019 | -5.2% | -8.7% | +34.8% | |
| Q2 2019 | -36.4% | -29.7% | -40.5% | |
| Q1 2019 | -2.7% | -6.8% | -15.9% | |
| Q4 2018 | +1.8% | -6.1% | -12.2% | |
| Q3 2018 | -5.2% | -14.3% | -12.2% | |
| Q2 2018 | -2.0% | +0.0% | -6.0% | |
| Q1 2018 | +2.2% | +12.5% | +15.0% | |
| Q4 2017 | -1.4% | +1.5% | -33.8% | |
| Q3 2017 | -6.6% | -1.4% | -15.1% | |
| Q2 2017 | -4.6% | -12.3% | -4.6% | |
| Q1 2017 | -6.0% | -13.0% | -5.4% | |
| Q4 2016 | -4.7% | -14.1% | -18.0% | |
| Q3 2016 | +12.1% | +34.1% | -26.8% | |
| Q2 2016 | -1.5% | -1.6% | -4.7% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +4.7% | — | — | |
| Q3 2015 | -3.8% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | +1.4% | — | — | |
| Q4 2014 | -5.4% | — | — | |
| Q3 2014 | -1.5% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | +4.3% | — | — | |
| Q1 2013 | -1.1% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | +1.3% | — | — | |
| Q2 2012 | +1.4% | — | — | |
| Q1 2012 | +2.8% | — | — | |
| Q4 2011 | -1.5% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2011 | -9.7% | — | — | |
| Q1 2011 | -0.8% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2010 | -4.4% | — | — | |
| Q2 2010 | +0.1% | — | — | |
| Q1 2010 | +6.2% | — | — |
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