Protalix BioTherapeutics (PLX) Tops Q1 EPS by 40c, Revenues Beat

Protalix BioTherapeutics (NYSE: PLX) reported Q1 EPS of $0.10, $0.40 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $21.65 million versus the consensus estimate of $6.6 million.

"The first quarter of 2020 has most certainly been transformational for Protalix, despite the COVID-19 pandemic that affected the global markets," said Dror Bashan, Protalix's President and Chief Executive Officer. "I am proud to say that despite the pandemic, Protalix was able to keep the company running smoothly and adapt quickly to the changing environment."

"During the quarter, we were able to close a $43.7 million private placement," he continued. "Furthermore, the topline results from the completion of our Phase III BRIDGE study and the subsequent BLA submission for PRX–102 announced in May prove that Protalix has actually gained momentum by leaning into this unprecedented challenge. I am convinced now more than ever that our team is positioned for long-term success and look forward to continuing our momentum through the rest of this year and into 2021."

For earnings history and earnings-related data on Protalix BioTherapeutics (PLX) click here.

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