Q2 2026 Protalix Biotherapeutics Inc Earnings Call Transcript
Key Points
- Total revenues for Q2 2026 increased to $19.9 million, up from $15.7 million in Q2 2025, driven by higher Elfabrio sales to Chiesi.
- Net income for Q2 2026 was $3.8 million, a significant improvement from $164,000 in the same period last year.
- The company maintains a strong cash position of $40.7 million with no outstanding debt, providing financial flexibility for pipeline advancement.
- Elfabrio's global market penetration is growing, supported by the recent approval of a once-every-four-weeks dosing regimen in Europe.
- PRS-115, a long-acting treatment for uncontrolled gout, is advancing as planned, with top-line results expected in the second half of 2027, targeting a market projected to reach $3.2 billion by 2031.
- Revenues from selling goods for the first half of 2026 increased only modestly by $1.8 million, indicating slower growth compared to the prior year.
- Cost of revenues increased by $1.9 million in Q2 2026, driven by higher sales volumes to Chiesi and fuel cruise, partially offset by lower Pfizer sales.
- R&D expenses decreased due to a $2.1 million grant under the new R&D law, but the company expects expenses to rise as the release study progresses.
- Taxes on income increased by $0.6 million due to GILTI and limitations under IRC Section 174, impacting net income.
- Revenue from Elfabrio sales can be lumpy due to Chiesi's inventory management, making quarterly results volatile and less predictable.
Good morning, ladies and gentlemen, and welcome to the Protelix Biotherapeutics Second Quarter 2026 Financial and Business Results Conference Call.
As a reminder, this conference is being recorded.
I will now turn the conference over to your host, Mr. Mike Moyer of LifeSci Advisors, Investor Relations for Protelix. Please go ahead.
Thank you, operator, and welcome to the Protalix Biotherapeutics Q2 2026 Financial Results and Business Update Conference Call. With me today are Dror Bachand, President and CEO and Gilad Mamlok, Senior Vice President and Chief Financial Officer.
Press release announcing the financial results and corporate updates was issued this morning and is available now on the Protalix website. Please take a moment to read the disclaimer about forward-looking statements in the press release. The earnings release and this conference.
Teleconference include forward-looking statements. These forward-looking statements are subject to known and unknown risks and
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