Protalix Reaffirms 2026 Revenue Range After Elfabrio Sales

The Tip Desk · August 12, 2026 · 3 min read

Second-quarter goods sales reached $19.8 million as the company kept full-year revenue guidance at $78.0 million to $83.0 million.

Protalix BioTherapeutics (PLX), a biopharmaceutical company focused on rare-disease therapeutics, reported second-quarter 2026 revenues from selling goods of $19.8 million, up $4.4 million from the year-earlier quarter. The increase was driven primarily by sales of Elfabrio.

Total revenue for the three months ended June 30, 2026, was $19.9 million. Higher shipments to Chiesi and Fiocruz in Brazil drove the increase in goods sales, partially offset by lower Pfizer purchases, which mainly reflected Pfizer’s manufacturing issues in the prior year. Cost of revenues rose to $7.8 million on the same mix.

License and R&D services contributed $0.1 million in the quarter, reflecting a lower amount of services provided to Chiesi. Operating income was $4.7 million. Net income was $3.8 million, or $0.05 a share, basic and diluted. Taxes on income were $1.1 million, resulting primarily from GILTI taxes tied to IRC Section 174 limitations and from taxes related to the $25.0 million Chiesi milestone received in the first quarter.

Research and development expenses were $4.4 million. Both the current and year-ago quarters included a $2.1 million grant receivable recorded under the new R&D law as a reduction of R&D expenses. Selling, general, and administrative expenses were $3.1 million.

Cash, cash equivalents, and short-term bank deposits were $40.7 million at June 30, 2026, down from $51 million at March 31. This balance provides sufficient capital to fund ongoing operations, including the Phase 2 RELEASE clinical trial of PRX-115. Inventories were $32.3 million.

On May 4, 2026, the U.S. Patent and Trademark Office issued a Patent Term Extension certificate for U.S. Patent No. 9,194,011 covering Elfabrio, adding five years and moving the U.S. expiration date to November 17, 2035. Elfabrio received orphan drug designation and marketing authorization in South Korea in May 2026, with Kwangdong Pharmaceutical Co., Ltd. as the local marketing authorization holder.

Patient enrollment continues in the RELEASE Phase 2 trial of PRX-115, a recombinant PEGylated uricase for uncontrolled gout. Top-line results are anticipated in the second half of 2027. On July 7, 2026, the USPTO issued U.S. Patent No. 12,674,146, “Modified Uricase and Uses Thereof,” to Protalix Ltd. The company also continues to advance PRX-119, its long-acting DNase I program, as part of a focus on rare renal indications.

Protalix reiterated full-year 2026 guidance of $78.0 million to $83.0 million in total revenue, including the $25.0 million Chiesi milestone. Full-year 2026 Elfabrio sales without milestones are expected at $33.0 million to $35.0 million, and Elelyso sales at $20.0 million to $23.0 million. The company expects to generate minimal revenues from license and R&D services going forward, other than potential regulatory milestone payments, having completed the clinical development of Elfabrio.

President and Chief Executive Officer Dror Bashan said the company enters the second half of 2026 in a position of strength, driven by continued penetration of Elfabrio through the Chiesi partnership and a trend toward achieving its financial goals for 2026.