Protalix BioThera (PLX) May Have a Winner with Gaucher Drug prGCD
Protalix BioTherapeutics (AMEX: PLX) shares have skyrocketed over the past several months. Shares are up to a high of $11.30 from $4 in June, representing a gain of 182.5%.
According to a report from Businessweek, the company's main drug, prGCD showed favorable results in Phase II trials. The drug is a treatment for Gaucher's disease, which causes blood problems and enlargement of the liver and spleen.
An analyst from Oppenheimer rated the shares at Outperform, commenting that the company may find either a partner or buyer in a U.S. drugmaker. PrCGD would be a prime competitor with Genzyme's (NASDAQ: GENZ) Cerezyme. The method of producing enzymes for Protalix is fairly low-cost as well, adding additional appeal to the company.
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